Health tourism, a subset of the healthcare industry, caters to patients seeking complex surgeries and medical treatments abroad. The global health tourism market thrives due to the affordability of medical procedures in developing countries compared to the higher costs in developed nations. This market benefits from the collaboration between tourism departments, local governments, and healthcare providers to offer cost-effective services to international patients. The rising demand for low-cost medical treatments drives the growth of the global health tourism market.
According to Data Bridge Market Research, the Global Health Tourism Market accounted for USD 27.195 million in 2022, and is expected to reach USD 410.61 million by 2030, at a CAGR of 40.4% during the forecast period 2023 to 2030.
“Rising trend of globalization”
Globalization has significantly impacted the growth of the health tourism market by enabling consumers to access high-quality and cost-effective healthcare treatments. With globalization, the availability of advanced medical procedures and technologies becomes accessible across international borders, attracting patients from developed countries seeking affordable healthcare options. This trend has contributed to the growth of the global health tourism market, offering consumers greater choices and cost savings while receiving advanced medical treatments abroad.
What restraints the growth of the global health tourism market?
“Problems in the transmission of medical records”
The medical record transfer problem poses significant challenges to the health tourism market. The lack of seamless transfer of medical records between healthcare providers and countries hampers the continuity and quality of care for patients seeking treatment abroad. Without proper access to complete medical histories, doctors face difficulties in making accurate diagnoses and providing appropriate emergency treatments. This limitation inhibits the growth of health tourism as patients and healthcare providers prioritize safety and continuity of care over seeking treatment in unfamiliar healthcare systems.
Segmentation: Global Health Tourism Market
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.
- On the basis of type of treatment, the global health tourism market is segmented into cosmetic treatment, dental treatment, cardiovascular treatment, orthopaedic treatment, bariatric treatment, fertility treatment, cancer treatment, ophthalmic treatment, neurological treatment and others.
- On the basis of age group, the global health tourism market is segmented into senior citizens, minors and adults
- On the basis of service provider, the global health tourism market is segmented into private and public.
Regional Insights: North America dominates the Global Health Tourism Market
North America's strong healthcare infrastructure and favorable reimbursement policies contribute to its dominance in the health tourism market, attracting patients from around the world seeking high-quality medical treatments and services.
The Asia-Pacific region is projected to experience rapid growth in the health tourism market due to the rising prevalence of health-related diseases, including diabetes, heart disease, obesity, and chronic illnesses. This increasing demand for advanced medical treatments and specialized healthcare services drives the growth of health tourism in the region.
To know more about the study visit, https://www.databridgemarketresearch.com/reports/global-health-tourism-market
Recent Developments in Global Health Tourism Market
- In 2019, Apollo Hospitals Enterprise Ltd. achieved recognition by winning the Times Health Icons Awards in five categories. This accomplishment enhanced their brand value, attracted new customers, and facilitated business expansion in various cities and countries.
- In 2021, UZ LEUVEN expanded its business by opening COVID testing centers in various locations, targeting primarily travelers. This strategic move not only helped the company reach out to new customers but also capitalized on opportunities during events like the Ontario Hockey League, organized by the GP association Khobra, thereby enhancing the scope of the global health tourism market.
The Prominent Key Players Operating in the Global Health Tourism Market Include:
- 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 (Mexico)
- Centro Médico ABC (Mexico)
Above are the key players covered in the report, to know about more and exhaustive list of global health tourism market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Global Health Tourism Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, global vs Regional and Vendor Share Analysis. Please request analyst call in case of further inquiry.
