Medical Tourism Market Size, Share, Price, Trends, Industry Analysis, and Outlook 2021-2030

In a recent published report, Kenneth Research has updated the Market report for Medical Tourism Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.

U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) average exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilst imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Medical Tourism Market Products.

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The Indian medical tourism market is growing at an excellent rate and currently witnessing a high inflow of international patients who come to India for medical treatments due to the country’s lower healthcare costs and various other advantages. With this rapid increase in the target base of consumers, the market will exhibit steady growth in future, thus providing players the opportunity to increase profitability.

According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.

“Final Report will add the analysis of the impact of COVID-19 on this industry.”

The report provides a snapshot of the medical tourism market. It begins with an introduction section which mentions the countries actively involved in medical tourism and from which countries India is threatened. It also mentions the treatments in the Indian medical sector that are most sought after by international patients. The market overview section provides an insight into the market and highlights the market size and growth. It also mentions the current and expected number of foreign patients coming to India for treatment. Also, an insight into the most common treatments provided to foreign patients has been provided.

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An analysis of the drivers explains the factors leading to the growth of the market. These include high quality treatments at low costs, establishment of Indian Medical Travel Association, increasing demand for fertility treatments, alternative medicine, aesthetic pleasure and convenience to patients. The main challenges to the market are no provisions for follow up care, unsuitable environment and problems associated with travelling, lack of international accreditations and strong competition from other Asian countries. The government initiatives section describes some of the steps taken by the government to develop the market which include medical visas, fiscal incentives and promotional activities.

The competition section highlights the features of the major medical tour facilitating companies, both domestic and international, operating in the market and the major Indian hospitals providing medical care to international patients.

The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market size, Y-O-Y growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Market Players Analysis & Opportunity Outlook
  •  Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth Market Players Analysis & Opportunity Outlook

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