The Global Medical Tourism Market Size was valued at USD 35.78 billion in 2017 and is anticipated to cross USD xx.xx billion throughout the forecast timespan. According to latest study conducted by our analysts and industry experts, the global market is expected to grow at a CAGR of 20.96% during the forecast period that is 2017-2025. The factors such as growing awareness regarding personal looks and healthcare, government supporting such imitative, government as well as private key players investing more money in this sectors, technological advancement, latest technologies, innovative medicines and emerging economies which are promoting medical tourism in Asia Pacific region due to low cost treatments and good benefits are some of the major pointer will drive the market during the forecast period. 

Global Medical Tourism Market Size, Share Analysis, By Region 2017

Medical Tourism Market: Secondary Research

To recognize and collect authentic and market-oriented information crucial for the research study, several secondary sources have been approached and referred. Press releases, white papers, companies annual reports, investor presentations, and articles present on trustworthy websites, databases, and certified publications are some of the significant secondary research sources that have been used to prepare the report. The data collected as secondary data have been obtained from various reliable journals and associations such as Smart Ticketing Alliance, Association of Professional Social Compliance Auditors, General Service Administration, Department of Transportation, and Association for Intelligent Transport Systems to reach to the market numbers or size. The data obtained through secondary sources has been validated through primary research.

Medical Tourism Market: Primary Research

For conducting primary research, several primary sources of the demand as well as supply sides have been approached and interviewed for obtaining quantitative and qualitative information crucial for the report. Vice Presidents, CEOs, technology directors, Product Managers, Marketing Directors and other executives of giant market players and organizations operating in medical tourism market are included as primary sources of the supply side.

After performing comprehensive engineering of medical tourism market (which includes market size estimations, calculations regarding market statistics, market forecasting, data triangulation, and market breakdown), detailed and vast primary research has been lcarried out to collect information along with verifying and validating the significant and critical market numbers arrived at.

Regional Analysis

Basis on demography analysis, the global medical tourism market has been segmented into North America, Asia-Pacific, Europe, South America, Russia, Middle East and Africa.  Among these regions, Asia Oceania is projected to be the fastest growing region for medical tourism over the forecast period due to strong economic growth, rapid industrialization, growing purchasing power, and the region has emerged as a hub for medical tourism industry. These factors are projected to drive the medical tourism market in this region in coming years due to affordability and accessibility of good quality healthcare services, Asian countries promoting healthcare as tourism, low cost treatment and medical services, availability of latest medical technologies in medical tourism hubs, available medical insurance in low budget and emerging economies developing high technological healthcare infrastructure in the region. The major economies in the Asia Pacific emerge as the medical tourism hub such Thailand, India, Costa Rica, Mexico, Malaysia, Singapore, Brazil, Colombia, Turkey, Taiwan, South Korea, Czech Republic, and Spain. In terms of revenue, the market was dominated by Thailand in 2018 owing to low-cost and excellent quality medical services offered in the country.

Key Players Landscape

Some of the major key vendors which will play significant roles in global medical tourism industry includes Apollo Hospitals Enterprise Limited; Fortis Healthcare Limited; Asian Heart Institute; KPJ Healthcare Berhad; NTT Medical Center Tokyo; Seoul National University Hospital, UZ Leuven, Wooridul Spine Hospital, Aditya Birla Memorial Hospital, Barbados Fertility Center, Prince Court Medical Centre, and Samitivej PCL. The other players in the value chain include Bumrungrad International Hospital, Min-Sheng General Hospital, Raffles Medical Group, and Bangkok Hospital Medical Center.