Global Health Tourism Market, By Service (Transport, Accommodation, Hospitality and Others), Type of Treatment (Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopaedic Treatment, Bariatric Treatment, Fertility Treatment, Cancer Treatment, Ophthalmic Treatment, Neurological Treatment and Others), Age Group (Senior Citizens, Minors and Adults), By Service Provider (Private and Public), Industry Trends and Forecast to 2029.
Market Analysis and Size
Health tourism is a modified version of healthcare industry which mainly focusses towards the needs of patients travelling to international borders for complicated surgeries and medical treatments. Medical tourism is in demand among the global patients especially due to low cost medical treatments in the developing countries compared to developed countries is found to be very costly. Accessibility to low cost services and medical treatments from different tourism departments and local governments acts as a major factor for the growing global health tourism market.
Data Bridge Market Research analyses that the global health tourism market is expected to reach the value of USD 1,216.63 billion by 2029, at a CAGR of 39.9% during the forecast period. Global transport accounts for the largest service segment in the health tourism market. Global transport provides basic facilities and a major need for the consumers in the medical tourism.
2022 to 2029
2020 (Customizable to 2019-2014)
Revenue in USD Billion, Pricing in USD
By Service (Transport, Accommodation, Hospitality and Others), Type of Treatment (Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopaedic Treatment, Bariatric Treatment, Fertility Treatment, Cancer Treatment, Ophthalmic Treatment, Neurological Treatment and Others), Age Group (Senior Citizens, Minors and Adults), By Service Provider (Private and Public)
U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Austria, Luxemburg, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia & New Zealand, Thailand, Taiwan, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina and rest of South America.
Market Players Covered
Apollo Hospitals Enterprise Ltd., Fortis Healthcare, KPJ HEALTHCARE BERHAD, Nippon Telegraph and Telephone East Corporation, Seoul National University Hospital, ADITYA BIRLA HEALTH SERVICES LTD., Samitivej PCL, BARBADOSIVF.COM, BB Healthcare Solutions, UZ LEUVEN, Berkalp Co-Limited, MEDIC ABROAD, AMERICAN MEDICAL CARE, MEDICINE PARK UNITED KINGDOM, Hospital Galenia, Centro Médico ABC, Medica Sur, AMTA Health, Allen Medical International and Med Tourism Co, LLC among others.
Health tourism is generally referred as a travel procedure by medical patients to international borders for complicated surgeries and medical treatments as per the requirement and recommendation of doctors from the hospitals of patient’s home country. The treatments might include medical services such as orthopaedic treatment, cancer treatment, cardiac surgery, cosmetic surgery, fertility and reproductive treatments, neurosurgery and different kinds of treatments. Medical tourism is an improvised version of healthcare systems which provides the patients with medical treatment and services of high quality.
Health Tourism Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
- Rise in globalization trend
Globalization has been a major driving factor for medical tourism, helping many consumers get the best quality and valued health care treatments. Thus, globalization 75% provides better health treatments and helps save expenses from 25% to 75%, especially for Americans and citizens of developed countries. Hence, the globalization trend allows consumers to get treated with low-cost and advanced treatments across international borders and is expected to drive the global health tourism market.
- Rise in the demand for online medical agencies (OMA)
Most of the countries have developed strategies to promote the digitalization in healthcare services, which creates a demand to seek the best and most valued treatment irrespective of the region; thus, collaboration with foreign organizations improves and if there is a rise in the diagnostics and surgical treatments, it will boost the demand for medical tourism. Thus, the adoption of connectivity technologies, digital platforms and telemedicine is expected to drive the market growth.
- Higher probability of long waiting lists in developed countries
The presence of long waiting lists in developed countries, and the currency rate is overvalued compared to developing countries which can be another advantage for the patients in the developed countries to travel to developing countries to bypass the waiting list and get treated on time at a very low price. Thus, the long waiting lists in developed countries are expected to drive the global health tourism market.
- Complications in the transfer of medical records
The medical record transfer issue breaks the healthcare system into multiple levels, killing untold patients daily. The doctors and physicians should understand that it is not a medical free market that patients can take advantage of when they are already ill and need emergency treatment. Such an issue is expected to restrain the global health tourism market.
- Upsurge in complexities due to visa management
The visa information confirmation and the visa processing approvals take longer, which restricts the patients from having the correct treatment at the right time. Delays in treatment can also lead to serious health effects in the patient.
The fraudulent activities, delays and expenses related to visa management will restrict the travelling procedures of the patients, and this is expected to restrict the market growth.
- Implications of travelling restrictions
The international spread of the COVID-19 outbreak has forced to inculcate the lockdown and restriction situation in all global countries. In this accordance, most major and developed countries such as the U.S., U.K., Germany, Australia, India, Japan and many others have had travelling restrictions for several months, even after WHO denounced the restrictions on international travelling.
Similarly, not only the pandemic situation, any major situation such as war or crisis will impact the tourism industry. The restrictions implicated or the change in the travelling route will have a major impact on inflating the travelling cost, which is expected to restrict the global health tourism market.
Post COVID-19 Impact on Health Tourism Market
COVID-19 created a major impact on the health tourism market as almost every country opted for the shutdown for every production facility except the ones dealing in producing the essential goods. The government took some strict actions such as the shutdown of production and sale of non-essential goods, blocked international trade, and many more to prevent the spread of COVID-19. The only business which was dealing in this pandemic situation were the essential services that were allowed to open and run the processes.
The health tourism market is impacted because of increase in the travelling restrictions across many countries which has halted the travelling facilities. Moreover, the trade wars due to decline in the economic conditions in many developing countries were caused due to shutdown of the market of many major industries. However, COVID-19 had an adverse effect on the health tourism market as there was no transportation facilities across countries for consumers and most of the companies had shut their medical tourism operations temporarily for some months.
- In March 2019, Apollo Hospitals Enterprise Ltd. announced winning Times Health Icons Awards 2019 in five categories. This award has helped the company boost the growth of its brand value in the market and attracted new customers, resulting in the business expansion to various cities and countries
- In October 2021, UZ LEUVEN opened a COVID testing center in various places, especially for travellers. This has helped the company reach out to new consumers and expand the business, especially during Ontario Hockey League, organized by the GP association Khobra
Global Health Tourism Market Scope
The health tourism market is segmented on the basis of service, type of treatment, age group and service provider. The growth among these segments will help you analyse meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
On the basis of service, the global health tourism market is segmented into transport, accommodation, hospitality and others.
Type of Treatment
- Cosmetic Treatment
- Dental Treatment
- Cardiovascular Treatment
- Orthopedic Treatment
- Bariatric Treatment
- Fertility Treatment
- Cancer Treatment
- Ophthalmic Treatment
- Neurological Treatment
On the basis of type of treatment, global health tourism market is segmented into cosmetic treatment, dental treatment, cardiovascular treatment, orthopaedic treatment, bariatric treatment, fertility treatment, cancer treatment, ophthalmic treatment, neurological treatment and others.
- Senior Citizens
On the basis of age group, global health tourism market is segmented into senior citizens, minors and adults.
On the basis of service provider, global health tourism market is segmented into private and public.
Health Tourism Market Regional Analysis/Insights
The health tourism market is analysed and market size insights and trends are provided by country, service, age group, type of treatment and service providers as referenced above.
The countries covered in the health tourism market report are U.S., Canada, Mexico, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Austria, Luxemburg, rest of Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia & New Zealand, Thailand, Taiwan, Indonesia, Philippines, rest of Asia-Pacific, Saudi Arabia, U.A.E, South Africa, Egypt, Israel, rest of Middle East and Africa, Brazil, Argentina and rest of South America.
The Asia-Pacific region dominates the health tourism market and is likely to be the fastest-growing global health tourism market. The rising huge price difference and better quality healthcare services in emerging countries such as China, Japan, India, and South Korea are credited with the market's dominance. China dominates the global region as it is engaged in providing cutting edge technological advancement in healthcare services at lower prices.
The country section of the report also provides individual market impacting factors and changes in market regulation that impact the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Health Tourism Market Share Analysis
The health tourism market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, and application dominance. The above data points provided are only related to the companies' focus on health tourism market.
Some of the major players operating in the health tourism market are Apollo Hospitals Enterprise Ltd., Fortis Healthcare, KPJ HEALTHCARE BERHAD, Nippon Telegraph and Telephone East Corporation, Seoul National University Hospital, ADITYA BIRLA HEALTH SERVICES LTD., Samitivej PCL, BARBADOSIVF.COM, BB Healthcare Solutions, UZ LEUVEN, Berkalp Co-Limited, MEDIC ABROAD, AMERICAN MEDICAL CARE, MEDICINE PARK UNITED KINGDOM, Hospital Galenia, Centro Médico ABC, Medica Sur, AMTA Health, Allen Medical International and Med Tourism Co, LLC among others.
Research Methodology: Global Health Tourism Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes the receiving of the market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
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