Technavio’s Medical Tourism Market Report Forecasts Growth of $16.88 Billion – Driven by Availability of Low-Cost Treatment Options

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NEW YORK, September 5, 2022 /PRNewswire/ — The medical tourism market has grown significantly over the years. To estimate the market size, Technavio has tracked recent trends and developments in the medical tourism market. Technavio analysts considered various aspects such as consumer base, adoption rate, average selling price, revenue generated by vendors, and various other factors to estimate the market size. Download a sample PDF report here to get an idea of ​​the overall scope of the full report.

The report on the medical tourism market by Technavio expects the market to register incremental growth of $16.88 billion between 2020 and 2025. However, the growth forecast might be missed with slower than expected market growth if the following factors come into play: lack of advanced infrastructure in developing countries and limited post-operative treatments.

According to Technavio, market growth is mainly driven by availability of low-cost treatment options.

“Increasing international accreditation and support by hospitals and growing adoption of cosmetic surgery will further accelerate market growth,” says a Technavio analyst.

The global medical tourism market is fragmented due to high product penetration and brand building. Competition is expected to further intensify with an increase in product and service extensions, technological innovations, mergers and acquisitions and joint ventures. The growth of various market players is highly dependent on market conditions and government support. The market has experienced major regulatory changes in Canada, China, Germany, France, India, Japan, Mexico, South Korea, New Zealand, Thailand, Turkey, the United Kingdom and the United States. Intense competition, rapid advances in technology, and frequent changes in consumer preferences are leading to greater market consolidation.

Suppliers are increasingly directing their marketing efforts towards creating category and brand awareness. The introduction of e-commerce platforms has helped vendors to easily promote and market their products and services. This trend is expected to gain traction over the forecast period. Market players compete in terms of service, quality, price and product differentiation. The absence of a solid distribution network can limit the entry of new players. Therefore, sellers need to expand geographically while reviving domestic demand to achieve sustained growth.

The report breaks down the market into the following segments:

  • Type of treatment: cardiovascular treatment, cosmetic treatment, fertility treatment, orthopedic treatment and others
  • Geography: North AmericaACPA, Europe, South Americaand MEA

According to the type of treatment, the cardiovascular treatment segment is expected to generate more revenue in the market. The segment is driven by the increasing incidence of heart disease in developed and developing countries.

In terms of region, North America will emerge as the dominant region, occupying 32% of the global market share. The regional market is mainly driven by the availability of high quality healthcare facilities in Canada and the United States. The growing awareness and affordability of medical services in Mexico are also contributing to the growth of the medical tourism market in North America.

The comprehensive Global Medical Tourism Market report offers detailed insights into the potential business segments and regions to invest in during the forecast period. Before making the purchase, we recommend that you read our Sample PDF report.

The Medical Tourism Market report answers questions such as:

  • Is the market structure fragmented or concentrated?
  • What was the market size in 2020 and the medical tourism market forecast to 2025?
  • What are the best product segments to invest in during the forecast period?
  • What is the market share of the dominant and powerful vendors in the medical tourism market?
  • What are the inhibiting factors and impact of COVID-19 on the Medical Tourism market growth?
  • What are the latest trends and regulatory frameworks in the medical tourism market?

You have more questions ? Talk to our analyst now

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Scope of the medical tourism market

Report cover

Details

Page number

120

base year

2020

Forecast period

2021-2025

Growth momentum and CAGR

Slowing down to a CAGR of 16.04%

Market Growth 2021-2025

$16.88 billion

Market structure

Fragmented

Annual growth (%)

22.93

Regional analysis

North America, APAC, Europe, MEA and South America

Successful market contribution

North America at 32%

Main consumer countries

United States, South Korea (Republic of Korea), Turkey, Thailand and Germany

Competitive landscape

Leading companies, competitive strategies, scope of consumer engagement

Profiled companies

Anadolu Medical Center, Asian Heart Institute, Asklepios Kliniken GmbH and Co. KGaA, Bangkok Dusit Medical Services Public Co. Ltd., Bumrungrad Hospital Public Co. Ltd., Clemenceau Medical Center, Cleveland Clinic, Fortis Healthcare Ltd., Prince Court Medical Center Sdn Bhd and The Johns Hopkins Health System Corp.

Market dynamics

Parent market analysis, market growth drivers and barriers, analysis of fast and slow growing segments, impact of COVID-19 and future consumer dynamics, and analysis of market conditions for the forecast period.

Personalization area

If our report does not include the data you are looking for, you can contact our analysts and get custom segments.

Contents:

Summary

Market landscape

  • Market ecosystem
  • Value chain analysis

Market sizing

  • Market definition
  • Market segment analysis
  • Market size 2020
  • Market Outlook: Predictions for 2020 – 2025

Five forces analysis

  • The bargaining power of buyers
  • Bargaining power of suppliers
  • The threat of new entrants
  • The threat of substitutes
  • Threat of rivalry
  • Market state

Market segmentation by type of treatment

  • Market segments
  • Comparison by type of treatment
  • Cardiovascular Treatment – Market size and forecast 2020-2025
  • Cosmetic treatment – Market size and forecast 2020-2025
  • Fertility treatment – Market size and forecast 2020-2025
  • Orthopedic treatment – Market size and forecast 2020-2025
  • Others – Market size and forecast 2020-2025
  • Market Opportunity by Treatment Type

Customer landscape

Geographic landscape

  • Geographic segmentation
  • Geographic comparison
  • North America – Market size and forecast 2020-2025
  • APAC – Market size and forecast 2020-2025
  • Europe – Market size and forecast 2020-2025
  • MEA – Market size and forecast 2020-2025
  • South America – Market size and forecast 2020-2025
  • Main leading countries
  • Market Opportunity by Geography
  • Market factors
  • Market challenges
  • Market trends

Supplier Landscape

  • Insight
  • Landscape disturbance

Vendor analysis

  • Suppliers Covered
  • Positioning on the supplier market
  • Anadolu Medical Center
  • Asian Heart Institute
  • Asklepios Kliniken GmbH and Co. KGaA
  • Bangkok Dusit Medical Services Public Co. Ltd.
  • Bumrungrad Hospital Public Co. Ltd.
  • Clemenceau Medical Center
  • Cleveland Clinic
  • Fortis Healthcare Ltd.
  • Prince Court Medical Center Sdn Bhd
  • The Johns Hopkins Corp. healthcare system.

Annex

  • Report scope
  • Currency conversion rates for the US dollar
  • Research methodology
  • Abreviations list

About Us

Technavio is a global leader in technology research and consulting. Their research and analysis focuses on emerging market trends and provides actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, spanning 800 technologies, spanning 50 countries. Their customer base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing customer base relies on Technavio’s comprehensive coverage, in-depth research, and actionable market intelligence to identify opportunities in existing markets and potentials and assess their competitive positions in changing market scenarios.

Contact

Technavio Research
Jesse Maida
Media & Marketing Manager
USA: +1 844 364 1100
UK: +44 203 893 3200
E-mail: [email protected]
Website: www.technavio.com/
Writing: newsroom.technavio.com/news/medical-tourismmarket

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