Will the Thriving Medical tourism Sector Catapult the Global market to an Astounding $65 Bn by 2028? Read more to Find Out: Ken Research

The report covers Medical Tourism Sector, Global Medical Tourism Market, Surgical Tourism Market, Oncology Treatment Tourism Market, Cardiovascular Treatment Tourism Market, Medical Tourism Market Leading Players, Medical Tourism Market Major Companies, Key Competitors in Medical Tourism Market, Medical Tourism Market Emerging Companies, Medical Tourism Industry Challenges and Trends, Opportunities Medical Tourism Market, Aditya Birla Medical Tourism Market, Apollo Medical Tourism Revenue, Fortis Healthcare Medical Tourism Revenue, KPJ Medical Tourism Revenue, Nippon Medical Tourism Revenue, Samitivej Medical Tourism Revenue, North America Medical Tourism Market, Europe Medical Tourism Market, Asia-Pacific Medical Tourism Market, Middle East Medical Tourism Market, Investment Medical Tourism Market.


Gurugram, India, April 27, 2023 (GLOBE NEWSWIRE) -- Driven by various government policies and initiatives to ease medical tourism along with the availability of premium-quality treatment at comparatively low prices in developing countries, the Global Medical Tourism Market is Forecasted to reach nearly US$ 100 Bn by 2028 says Ken Research Study. Medical tourism is the process of organized travel outside the country to avail medical care. Medical tourists travel across the countries to use low-cost healthcare treatments and facilities to maintain, improve, or restore their health.

"Ken Research shares 3 key insights on this high-opportunity market from its latest research study".

1.   Lack of Healthcare Insurance Coverage and Inadequate Insurance Benefits Encourage Market Growth

The rising demand for treatments that are not covered under insurance such as reproductive therapy, aesthetic surgery, dental reconstruction, gender reassignment surgery, and others coupled with rising awareness regarding medical tourism among patients to save cost, is anticipated to augment the growth of the Global Medical Tourism Market.
Moreover, the lengthy waiting period for medical services in some countries is also attracting patients to seek medical treatment in different countries, especially in developing countries. However, difficulties associated with VISA approval, travel, availability of medical documents, and others may impede the growth of the market. According to Ken Research estimates, the Global Medical Tourism Market – valued at around US$ 45 Bn by 2022 – is further expected to grow to around US$ 100 Bn opportunity by 2028.

2.   High-Quality Treatment at Affordable Rates is Driving the Market Growth

The high prices of medical treatments in home countries are encouraging patients to travel to different countries to seek premium-quality treatment at comparatively low cost, which is likely to boost the demand for the market. The high-quality treatment can be easily availed at a lower cost, especially in developing countries like India, Thailand, Malaysia, and others. Cost savings and additional benefits offered to visitors namely cutting-edge technology, superior hospitality, individualized care, breakthrough medicines, and improved healthcare are some of the major factors driving the growth of the market. The below graph depicts the comparison of prices of Heart bypass (CABG) treatment in the USA and India.

3.   Difficulty with Patient Follow-Up is the Most Significant Barrier to the Growth of the Market

Follow-up care is necessary after every treatment but it is very difficult in the case of medical tourism. If the patient is back in his own country and in case of any complications post-surgery, it would be difficult to offer follow-up care as well as it will be very expensive. The rising concerns regarding the complications after surgery and difficulty in follow-up in the case of medical tourism may decrease the demand for the market. In addition, partial reimbursement for treatment in the case of medical tourism is also expected to hamper the growth of the Global Medical Tourism Market. According to the Fortis Group of Hospitals in India, it receives around 2,800 to 3000 international patients in a month on an average basis. It is also observed that patients with shorter stays face difficulties in physically meeting the medical personnel in case of post-surgery complications and follow-ups.

Market Taxonomy
By Treatment Type

  • Cardiovascular Treatment
  • Orthopedic Treatment
  • Cosmetic Treatment
  • Bariatric Treatment
  • Dental Treatment
  • Oncology Treatment
  • Infertility Treatment
  • Neurological Treatment
  • Others

Interested to Know More about this Report, Request a Sample Report

By Service Provider

  • Public
  • Private

By Geography
North America

  • US
  • Canada
  • Mexico
  • Costa Rica

Europe

  • Germany
  • UK
  • France
  • Spain
  • Belgium
  • Austria
  • Rest of Europe

Visit this Link :- Request for custom report

Asia-Pacific

  • China
  • Thailand
  • South Korea
  • India
  • Indonesia
  • Australia
  • Malaysia
  • Singapore
  • Taiwan
  • Rest of Asia Pacific

LAMEA

  • Latin America
  • Middle East
  • Africa

Key Players

  • Aditya Birla Health Services Ltd.
  • Apollo Hospitals Enterprise Ltd.
  • Fortis Healthcare
  • Asian Heart Institute
  • KPJ Healthcare Berhad
  • Nippon Telegraph and Telephone East Corporation
  • Samitivej PCL
  • Wooridul Spine Hospital
  • Seoul National University Hospital
  • Prince Court Medical Centre

For more insights on the market intelligence, refer to below link:-
Global Medical Tourism Market

Related Reports By Ken Research:-
Nigeria Fitness Service Market Outlook To 2027F- By Market Structure (Organized and Unorganized), By Revenue Streams (Membership Fee and Personal Training), by Membership Subscription Package (1, 3, 6 & 12 Months)

According to Ken Research estimates, Nigeria Fitness Service Market grew from approximately NGN ~ Bn in 2017 to approximately NGN ~ Bn in 2022 – is forecasted to grow further into NGN ~ Bn opportunity by 2027F, owing to the rising disposable income of consumers, increasing focus on fitness and healthy lifestyle among the population. 61% of Nigerian women indicated their interest in sport, with many of them involved in fitness and lifestyle enhancement regimes. In Nigeria, a growing number of hotel chains are providing a lot of wellness services complemented by an innovative variety of fitness classes such as Yoga, Gym, Zumba or HIIT, and other membership plans for their customers. Fitness apps and Virtual Classes are gaining wide popularity in Nigeria, especially after the covid period.

Kuwait Fitness Service Market Outlook to 2027F- Segmented by Market Structure (Organized and Unorganized), By Revenue Stream (Membership, Personal Trainer and Supplementary Services), By Subscription (3 months, 6 months, 1 year and others), By Gender (Male and Female), By Age (Below 18 years

According to Ken Research estimates, the Kuwait Fitness Service Market – which grew from approximately KWD ~ Mn in 2017 to approximately KWD ~ Mn in 2022 – is forecasted to grow further into KWD ~ Mn opportunity by 2027F, owing to the demand for female trainers, rise in health consciousness and changing lifestyle. Increasing awareness about the consequences of lifestyle related diseases such as obesity that include high blood pressure, heart strokes, and diabetes are expected to intensify the number of subscribers in Kuwait. Studios are expected to adapt to the online space post pandemic and expand their offerings by providing digital fitness application with personalized training and highly discounted one-on-one virtual personal training sessions.

UAE Diabetes Care Services Market Outlook to 2027F- Driven by Rising Diabetes Cases and Increasing Privatization in the Healthcare sector

According to Ken Research estimates, the UAE Diabetes Care Services market expanded at a CAGR of ~5.9% between FY’17– FY’22P on the basis of revenue generated. The market saw rapid growth owning to the favorable government Initiatives, increase in diabetes patient and rising technological advancement. UAE Diabetes Care Services market is estimated to grow at a positive CAGR of ~6.1% between FY’22P-FY’27F. UAE Diabetes Clinics Market is anticipated to witness significant growth due to the improvements in existing services along with introduction of new improved technologies and increased privatization of health care sector. Major services provided by UAE Diabetes Health Care players are Endocrinology, antenatal/gestational and juvenile diabetes care, nutritional advice, and radiology.

Thailand Clinical Laboratory Market Outlook to 2026F- Driven by widening customer base, Government initiatives and increasing corporate requirements for clinical testing

According to Ken Research estimates, the Thailand Clinical Laboratory Market – which grew at a CAGR of 9.0% in the period of 2016-2021 – is expected to grow at a CAGR of 9.5% in the forecasted period of 2022F-2026F, owing to the increasing healthcare spending by aging population, expanding healthcare spending by the Government, growth in non-communicable disease and chronic diseases and increasing public awareness. The market is led by N Health; having the major share of the Clinical Laboratory Market in Thailand. Other players include Pathlab, Thonburi Clinical Labs, Bangkok Medical Labs, Medical Line Lab, Innotech Laboratories and others. Around 60.0% of medical decisions regarding early disease diagnosis, patient prognosis and treatment selection are based on laboratory diagnostic results.

Follow Us –
LinkedIn | Instagram | Facebook | Twitter | YouTube

Contact Us:-
Ken Research Private Limited
Ankur Gupta, Director Strategy and Growth
Ankur@kenresearch.com
+91-9015378249

 

Coordonnées