The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032

The Business Research Company’s medical tourism market report forecasts the medical tourism market size to grow to $59.67 Billion by 2027, with a CAGR (compound annual growth rate) of more than 10%.

Learn More On The Medical Tourism Market Report 2023 – https://www.thebusinessresearchcompany.com/report/medical-tourisms-global-market-report

Medical Tourism Market Size Forecast
The global medical tourism market is expected to grow from $35.77 billion in 2022 to $39.95 billion in 2023 at a compound annual growth rate (CAGR) of 11.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global medical tourism market size is expected to grow to $59.67 billion in 2027 at a CAGR of 10.5%.

North America held the largest medical tourism market share.

Key Medical Tourism Market Driver ­– Increase In High Healthcare Cost In Developed Countries
According to a study conducted by the Centres for Disease Control and Prevention, approximately 0.75 -1.6 million people from the USA travel out of the country for medical care to avoid high treatment cost. For instance, a hip replacement surgery in the USA costs approximately $39,299 while the same surgery in India, Costa Rica or other developing countries would cost between $7000 and $15,000 including logistics.

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Key Medical Tourism Market Trend – Adopting Electronic Health Records
Patients traveling across countries for medical treatment are increasingly using electronic health records to store information related to health in digital format. An electronic health record is the systematic collection of patient health and medical examination reports stored electronically. These health records can be accessed instantly and securely by authorized users. Electronic health records eliminate the need to carry heavy medical records for patients travelling long distances for treatment. Some of the major electronic health records software include eClinicalWorks, Allscripts, Cerner.

Medical Tourism Market Segment
1) By Treatment Type: Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics Treatment, Bariatric Treatment, Fertility Treatment, Opthalmic Treatment, Other Treatments
2) By Type: Domestic, International
3) By Healthcare Service: Medical Treatment, Wellness, Alternative Treatment
4) By Service Providers: Public, Private

Medical Tourism Market Major Players and Strategies
Major players in the medical tourism market are Apollo Hospital Enterprise Limited, Prince Court Medical Centre, Bumrungrad International Hospital, KPJ Healthcare Berhad, Fortis Health Ltd., Raffles Medical Group, Bangkok Hospital Medical Centre, Samitivej PCL., Min-Sheng General Hospital and Asian Heart Institute.

In September 2020, IHH Healthcare, a Malaysian–Singaporean private healthcare group focused on upmarket health services acquired Prince Court Medical Centre for $0.25 billion. Through this acquisition, Prince Court Medical Centre will complement IHH’s cluster strategy of having specialized tertiary hospitals in Kuala Lumpur. Prince Court Medical Centre is a private healthcare facility located in the heart of Kuala Lumpur, Malaysia.

The Medical Tourism Global Market Report 2023 covers regional data on medical tourism market size, medical tourism market trends and drivers, opportunities, strategies, and medical tourism market competitor analysis. The countries covered in the medical tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, the UK, and the USA, and the major seven regions are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

Medical tourism is the process of travelling to another country solely for the reasons of medical treatment. It is useful for people living in countries where appropriate medical facilities are not available.

View More Reports Related To The Medical Tourism Market –
Medical Billing Outsourcing Global Market Report 2023
Medical Coding Global Market Report 2023
Medical Equipment Maintenance Global Market Report 2023

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