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How has the medical tourism market size evolved in recent years?

The expansion of the medical tourism market has been swift and significant in the past few years. From a worth of $82.69 billion in 2024, it is projected to increase to $92.63 billion in 2025, with a compound annual growth rate (CAGR) of 12.0%. The surge during the historical period can be ascribed to several factors, including growth of emerging markets, rising cases of cardiovascular diseases, increased interest in cosmetic procedures, a boost in demand for body contouring services, and ascension in disposable personal income.

What are the predictions for the medical tourism market size in the coming years?

The anticipated swift expansion in the inverter market size over the coming years is expected to reach a value of $43.26 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 16.4%. This growth during the forecasted period is credited to a surge in smart grid systems deployment, the introduction of 5G technology, a growing focus on sturdy power solutions, efforts to combat climate change, and broadening electrification initiatives. The leading trends during this projected period encompass hybrid inverter systems, digitization and integration of Internet of Things (IoT), platforms for energy management, sophisticated cooling technologies, and tailored solutions for specific industries.

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What key factors are fueling the growth of the medical tourism market?

The rise in the aging population is expected to propel the growth of the medical tourism market going forward. An aging population refers to an increase in the number of older people due to changes in the age composition of a population. The aging population most commonly experiences aging-associated diseases that require the assistance. For instance, in May 2024, according to the Administration for Community Living, a US-based government agency, in 2022, 17.3% of the population was 65 or older. This percentage is expected to increase to 22% by 2040. Therefore, the rise in the aging population is driving the growth of the medical tourism market.

How is the global medical tourism market divided into key segments?

The medical tourism market covered in this report is segmented –

1) By Treatment Type: Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics Treatment, Cancer Treatment, Fertility Treatment, Neurological Treatment, Other Treatment Types

2) By Type: Domestic, International

3) By Healthcare Service: Medical Treatment, Wellness, Alternative Treatment

4) By Service Provider: Public, Private

Subsegments:

1) By Cosmetic Treatment: Plastic Surgery, Breast Augmentation, Facelifts And Botox Injections, Hair Transplant, Skin Rejuvenation And Laser Treatments

2) By Dental Treatment: Dental Implants, Cosmetic Dentistry, Orthodontic Procedures, Oral Surgery, Periodontal Treatments

3) By Cardiovascular Treatment: Coronary Artery Bypass Graft (CABG), Angioplasty And Stent Insertion, Heart Valve Replacement, Cardiac Rehabilitation, Electrophysiology

4) By Orthopedics Treatment: Joint Replacement, Spinal Surgery, Arthroscopy, Fracture Repair, Sports Injury Treatment

5) By Cancer Treatment: Chemotherapy, Radiation Therapy, Immunotherapy, Surgery For Tumor Removal, Targeted Therapy

6) By Fertility Treatment: In Vitro Fertilization (IVF), Egg And Sperm Donation, Surrogacy, Intrauterine Insemination (IUI), Fertility Preservation

7) By Neurological Treatment: Brain Surgery, Spinal Cord Surgery, Deep Brain Stimulation, Epilepsy Treatment, Stroke Rehabilitation

8) By Other Treatment Types: Organ Transplantation, Bariatric Surgery (Weight Loss Surgery), Ophthalmic Treatments, Dermatology Treatments, ENT Treatments

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Who are the key firms paving the way for growth in the medical tourism market?

Major companies operating in the medical tourism market include Bumrungrad International Hospital, Asklepios Kliniken Verwaltungsgesellschaft mbH, Apollo Hospitals Enterprise Ltd, Fortis Healthcare, Bangkok Dusit Medical Services PCL, Saudi German Hospitals Group, Asian Heart Institute, Gleneagles Hospital, KPJ Healthcare Behard, Samitivej Hospitals, NTT Medical Center Tokyo, Seoul National University Hospital, Beijing Saint Lucia Consulting Ltd, China Medical Tourism Inc, Clifford Hospital, German International Clinic, Bonn Medical Partners, University Medical Center, Intermed Consult, International Diagnostic Center Frankfurt, Medical Concierge France, ZagrebMed, Specijalna bolnica Sv. Katarina, Carlsbad Clinic, Elite Skin Rejuvenation, CubaHeal Medical Tourism, Inc, North American Specialty Hospital, Shouldice Hospital, CHRISTUS MUGUERZA, Clinica Sao Vicente, Hospital Barra d’Or, Hospital Do Coracao, Hospital de Clinicas Carcas, Sigamadental Venezuela, Centro Medico Maracay, Medipol Mega University Hospital, Medicana Haznedar Hospital. Istanbul, Anadolu Medical Center. Kocaeli, Estetik International, Istanbul, I.A.U VM Medical Park Florya Hospital, Medical Park Bahcelievler Hospital, AL Rayyan Medical Centre, Al Shifa Al Khaleeji Medical Centre, Emsey Hospital, Medistanbul Hospital, Kolan International Hospital, Hisar Hospital Intercontinental, Travcure Medical Tourism Consultants, Beaconhill Smile clinics, Agho Clinic Benin City

Which trends are expected to transform the medical tourism market?

Increasing numbers of patients who are journeying across borders for medical treatments are turning to electronic health records as a method of digitally storing their health-related data. Electronic health records, a systematic digital compilation of a patient’s health information and medical test results, can be immediately and securely viewed by those who are authorized to do so. This eliminates the necessity for patients who are traveling large distances for medical care to lug around hefty physical medical documents. A few of the predominant software options for electronic health records encompass eClinicalWorks, Allscripts, and Cerner.

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What regions are contributing significantly to the growth of the medical tourism market?

North America was the largest region in the medical tourism market in 2024. Western Europe was the second largest region in the global medical tourism market share. The regions covered in the medical tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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