Medical tourism is described as a planned trip across international borders to receive medical care of some kind that is not available in the tourists' native country. Medical tourists cross international boundaries to maintain, improve, or restore their health by using low-cost healthcare facilities and treatments accessible in other nations that are less expensive in their own country.
Medical Tourism Market is anticipated to reach US$ 65.66 Bn. by 2029 from US$ 14.48 Bn. in 2021 at a CAGR of 20.80% during a forecast period.
Medical Tourism Market Overview:
The Medical Tourism market's competitive landscape comprises information about rivals. A firm overview, financials, revenue produced, market potential, R&D investment, new market efforts, geographical presence, business strengths and weaknesses, product launch, and application domination are among the topics covered. The following information is only relevant to the organization's focus on the Medical Tourism market.
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Medical tourism Market size by country Scope:
To validate the market size and estimate the market size by different segments, top-down and bottom-up methodologies are utilized. The research's market estimates are based on the sale price (excluding any discounts provided by the manufacturer, distributor, wholesaler, or traders). To create percentage splits, market shares, and segment breakdowns, weights based on usage rate and average sale price are applied to each location. The percentage acceptance or usage of the given market Size in the relevant area or nation determines the country-wise segmentation of the main market and its sub-segments.
Medical tourism companies Segmentation:
In 2021, the cosmetic treatment segment held a xx percent market share based on treatment type. Cosmetic surgery is not covered by most health insurance policies, and the cheaper prices in other countries make it more appealing to international patients. They save money by traveling to areas where these operations are performed at a lower cost while participating in free activities in the destination state. Cancer is the second-leading cause of mortality worldwide, according to the World Health Organization (WHO), accounting for nearly 10 million deaths in 2021. Medical tourism is expected to grow in popularity as people seek more economical cancer treatment.
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Key Players: Market leaders are identified by primary and secondary research, and market revenue is calculated using primary and secondary research. The core study included in-depth interviews with key thought leaders and industry experts such as experienced front-line personnel, CEOs, and marketing executives. In-depth interviews with important thought leaders and industry experts, such as experienced front-line personnel, CEOs, and marketing executives, were conducted as part of primary research, while secondary research included a review of the major manufacturers' annual and financial reports. Secondary data is utilized to calculate percentage splits, market shares, growth rates, and global market breakdowns, which are then verified against primary data. The following are the key players of the Medical Tourism market-
• Fortis Hospital
• Gleneagles Hospital
• Asklepios Klink Barmbek
• Wooridul Spine Hospital
• Prince Court Medical centre
• Anadolu Medical Centre
• Clemenceau Medical centre
• Raffles Medical Group
• Bumrungrad International Hospital
• Bangkok Hospital Medical Center
• Asian Heart Institute
• KPJ Healthcare Berhad
• Samitivej Sukhumvit
Regional Analysis:
Individual market influencing components and changes in market rules that affect current and future market trends are also investigated in the geographical component of the research. Some of the factors used to forecast market scenarios for various countries include downstream and upstream value chain analysis, technological trends, Porter's five forces analysis, and case studies.
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COVID-19 Impact Analysis on Medical Tourism Market: Furthermore, the research assesses the impact of COVID-19 on the Medical Tourism market. The fundamental purpose of this research is to help users understand the market in terms of definition, segmentation, market potential, key trends, and difficulties that the industry confronts across major regions. The paper provides a microeconomic and macroeconomic analysis of the overall impact of COVID-19 on the Medical Tourism Market. The report focuses on market share and size, clearly demonstrating the pandemic's influence on the worldwide Medical Tourism Market in the next years.
Key Questions Answered in the Medical Tourism Market Report are:
- What will be the Medical Tourism market's CAGR throughout the projected period (2021-2027)?
- Which market category emerged as the market leader in the Medical Tourism industry?
- Who are the key players in the Medical Tourism market?
- What important trends in the Medical Tourism industry are anticipated to develop throughout the forecast period?
- How big will the Medical Tourism market be in 2027?
- In 2020, which business segment had the highest proportion of the Medical Tourism market?
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