Health tourism is a thriving global industry where individuals travel across borders for medical treatments. This market spans elective procedures, cosmetic surgeries, dental treatments, and wellness programs. Destinations actively market healthcare services to attract international patients, fostering global growth. Countries strategically position themselves as healthcare hubs to meet the diverse needs of medical travelers, reflecting the increasing significance and adaptability of this international healthcare phenomenon.
Access Full Report at https://www.databridgemarketresearch.com/ko/reports/global-health-tourism-market
Data Bridge Market Research analyses that the Global Health Tourism Market which is USD 27.195 million in 2022, is expected to reach USD 410.61 million by 2030, at a CAGR of 40.4% during the forecast period 2023 to 2030. Globalization and improved connectivity play pivotal roles in health tourism growth, streamlining global travel and communication. Enhanced infrastructure ensures patients can easily navigate borders, fostering the expansion of health tourism as individuals seek diverse medical options across international destinations.
Key Findings of the Study
Specialized medical expertise is expected to drive the market's growth rate
Health tourism attracts patients seeking specialized medical expertise and services beyond what is available or affordable in their home countries. Individuals travel abroad for access to renowned specialists, cutting-edge treatments, and advanced technologies. This pursuit of specific medical knowledge drives the global health tourism market, as patients prioritize quality care and unique treatment options, often found in destination countries with leading experts and facilities in their respective medical fields.
Report Scope and Market Segmentation
Report Metric
|
Details
|
Forecast Period
|
2023 to 2030
|
Base Year
|
2022
|
Historic Years
|
2021 (Customizable to 2015-2020)
|
Quantitative Units
|
Revenue in USD Million, Volumes in Units, Pricing in USD
|
Segments Covered
|
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), Service Provider (Private and Public)
|
Countries Covered
|
U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
|
Market Players Covered
|
Apollo Hospitals Enterprise Ltd. (India), Fortis Healthcare (India), KPJ HEALTHCARE BERHAD (Malaysia), Nippon Telegraph and Telephone East Corporation (Japan), ADITYA BIRLA HEALTH SERVICES LTD. (India), Samitivej PCL (Thailand), BB Healthcare Solutions (U.K.), UZ LEUVEN (Belgium), Berkalp Co-Limited (Ireland), MEDIC ABROAD (U.S.), AMERICAN MEDICAL CARE (U.S.), MEDICINE PARK UNITED KINGDOM (U.K.), Hospital Galenia, Centro Médico ABC (Mexico)
|
Data Points Covered in the Report
|
In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
|
Segment Analysis:
The global health tourism market is segmented on the basis of service, age group, type of treatment, and service providers.
- On the basis of service, the global health tourism market is segmented into transport, accommodation, hospitality, and others. The transport segment is expected to hold the maximum share in the market with 39.28% market share due to providing transportation guidance in foreign countries
The transport segment is expected to hold the maximum share of the global health tourism market
The transport segment is expected to hold the maximum share in the market with 39.28% market share owing to factors such as providing transportation guidance in foreign countries which is a major part of medical tourism. Moreover, transport is associated with only traveling expenses and is expensive for a short booking period, which is a crucial factor for the segment's growth.
- On the basis of age group, the global health tourism market has been segmented into senior citizens, minors, and adults. The senior citizens segment is expected to hold a market share of 46.92% due to health and retirement age improvements
Senior citizens segment is expected to hold the highest market share in the global health tourism market
The senior citizens segment is expected to hold a market share of 46.92% due to health and retirement age improvements indicating that older individuals are increasingly engaging in health tourism, seeking specialized medical care and wellness services across international destinations for enhanced well-being and improved quality of life
- On the basis of type of treatment, the global health tourism market has been segmented into cosmetic treatment, dental treatment, cardiovascular treatment, orthopedic treatment, bariatric treatment, fertility treatment, cancer treatment, ophthalmic treatment, neurological treatment, and others. The cosmetic treatment segment is anticipated to hold a larger share in the market with 21.88% market share owing to factors such as a rise in the modeling and beauty trends across the globe
- On the basis of service providers, the global health tourism market has been segmented into private and public. Private service providers may hold the largest share in the market with 67.11% due to public health care facilities can't meet the needs of patients, the private sector will develop a plan to work alongside publicly funded organizations
Major Players
Data Bridge Market Research recognizes the following companies as the major global health tourism market players in global health tourism market are ADITYA BIRLA HEALTH SERVICES LTD. (India), Samitivej PCL (Thailand), BB Healthcare Solutions (U.K.), UZ LEUVEN (Belgium), Berkalp Co-Limited (Ireland), MEDIC ABROAD (U.S.)
Market Developments
- In 2021, UZ LEUVEN strategically launched COVID testing centers across multiple locations, with a primary focus on serving travelers. This initiative proved instrumental in reaching and engaging with new customers. The expansion coincided with significant events, such as the Ontario Hockey League organized by the GP association Khobra, providing UZ LEUVEN with increased visibility and business opportunities amid the ongoing challenges posed by the global pandemic
- In December 2020, KPJ Healthcare Berhad achieved Excellence and Best Sustainability Reporting Awards, enhancing the company's brand value and bolstering trust in its services. These accolades signify recognition of the company's commitment to excellence and sustainability in healthcare
- In March 2020, the U.S. Department of Health's Health Insurance Portability and Accountability Act (HIPAA) Security Requirement withdrew penalties for non-compliance, allowing the use of communication tools such as FaceTime, Google Hangout, and Zoom to connect with patients. This regulatory adjustment aimed to support flexible healthcare communication during the challenging circumstances of the COVID-19 pandemic
- In January 2020, Omnia Health, utilizing Tata's Gloheal technology, implemented a tele diagnostics and tele radiology program, enabling online requests for diagnoses and second opinions. This innovative approach reduces travel costs for patients and facilitates remote collaboration among doctors from various countries
Regional Analysis
Geographically, the countries covered in the global health tourism market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America
As per Data Bridge Market Research analysis:
North America is the dominant region in the global health tourism market during the forecast period 2023-2030
North America dominates the global health tourism market due to its well-established healthcare infrastructure and favorable reimbursement policies. The region's advanced medical facilities, cutting-edge technologies, and highly skilled healthcare professionals attract international patients seeking high-quality treatments. Additionally, favorable reimbursement policies contribute to the region's prominence in health tourism, making it an appealing destination for those looking for top-notch medical services and a seamless healthcare experience. This dominance underscores North America's key role in shaping the landscape of international health tourism.
Asia-Pacific is estimated to be the fastest-growing region in the global health tourism market during the forecast period 2023-2030
Asia-Pacific is anticipated to dominate the global health tourism market from 2023 to 2030 due to substantial price disparities and superior healthcare services in emerging nations such as China, Japan, and India. The region's rapid growth is attributed to its cost-effective yet high-quality medical offerings, drawing international patients seeking affordable and top-notch healthcare. This trend positions Asia-Pacific as a key player in the expanding landscape of global health tourism during the forecast period.
For more detailed information about the global health tourism market report, click here – https://www.databridgemarketresearch.com/ko/reports/global-health-tourism-market