Astute Analytica published a new report on the Medical Tourism Market. The research report comprehends the present status of competitive market conditions, which helps firms to make the necessary decisions for growth or profitability with ease.
The global Medical Tourism Market is estimated to witness a rise in revenue from US$ 14911.94 Mn in 2021 to US$ 26666.08 Mn by 2027. The market is registering a CAGR of 11.93% during the forecast period 2021-2027.
This report also formulates a survey addressing small variables applicable specifically to new applicants as well as major concerns impacting all players in this field generally.
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Leading Players
There is intense competition in the market and players are involved with full zeal to provide such services which can make them better than others. Some of the major players are:
- Apollo Hospitals
- Asian Heart Institute
- Barbados Fertility Center
- BB Health Solutions
- Cosmedic Travel
- Dar Al SCosmetichifa Hospital
The healthcare sector is one of the most lucrative globally. Higher-quality general healthcare, an increase in life expectancy, and increased interest in business since the pandemic’s start are projected to improve spending and industry growth in the years to come. As a result, the healthcare industry’s revenue in 2023 is predicted to be US$ 73.90 billion.
For instance, contactless and virtual services are now commonplace. A focus on equitable care, an increase in new healthcare investments, and changes in the labor force have all occurred in recent years. Thus, these factors will bring new opportunities and difficulties. New digital tools will influence how care is delivered, how money is paid for it, and how health data are kept in the future as the healthcare landscape changes. Innovation, consolidation, and optimization will all continue to be fueled by capital entering the market.
In recent years, the global health business has experienced exponential growth, with the US setting the pace. The rise of the aging population, also known as the older population increase in sociology, was blamed for industry expansion. Most patients or those who receive services from the global health industry today are women.
By 2031, the global healthcare market will be worth $675.37 billion. Additionally, according to the Centers for Medicare and Medicaid Services, national healthcare spending in the US reached US$ 4.3 trillion in 2021, or US$ 12,914 per person, and is projected to rise to US$ 6.2 trillion by 2028.
The Commonwealth Fund estimates that the US spent close to 16.8% of its GDP on healthcare in 2019. Switzerland spent 11.3% more than Germany, which came in second place with a spending of 11.7%.
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Segmentation Overview
By Type
- Outbound Medical Tourism
- Inbound Medical Tourism
- Domestic Medical Tourism
By Purpose
- Advanced Technology
- Improved care quality
- Quicker access
- Lower cost
By Application/Treatment type
- Cardiovascular Surgery
- Orthopedic Surgery
- Oncology Treatment
- Bariatric Surgery
- Cosmetic Surgery
- Dental Surgery
- Fertility Treatment
- Others
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About Astute Analytica:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
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