NEW YORK, Nov. 18, 2021 /PRNewswire/ -- The medical tourism market is expected to grow by USD 16.88 bn from 2020 to 2025. Technavio's latest market research report estimates that the market will decelerate at a CAGR of 16.04%. This report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment.
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The report covers the following areas:
The medical tourism market is fragmented, and the degree of fragmentation will decelerate during the forecast period. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments.
Medical Tourism Market 2021-2025: Segmentation
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Medical Tourism Market 2021-2025: Vendor Analysis and Scope
To help businesses improve their market position, the medical tourism market provides a detailed analysis of around 25 vendors operating in the market. Some of these vendors include Anadolu Medical Center, Asian Heart Institute, Asklepios Kliniken GmbH and Co. KGaA, Bangkok Dusit Medical Services Public Co. Ltd., Bumrungrad Hospital Public Co. Ltd., Clemenceau Medical Center, Cleveland Clinic, Fortis Healthcare Ltd., Prince Court Medical Centre Sdn Bhd, and The Johns Hopkins Health System Corp.
Factors such as the availability of low-cost treatment options, rise in international accreditation and assistance by hospitals, and growing adoption of cosmetic surgery will offer immense growth opportunities. However, factors such as lack of advanced infrastructure in developing nations may threaten the growth of the market.
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Medical Tourism Market 2021-2025: Regional Analysis
Technavio's market research report offers detailed information on the competitive intelligence, marketing gaps, and regional opportunities for vendors to help organizations in creating efficient business plans. Based on segmentation by geography, the medical tourism market has been classified into five regions, namely North America, APAC, Europe, MEA, and South America. According to our analysis, 32% of the market's growth will originate from North America during the forecast period. The US is a key country for the medical tourism market in the region. The availability of high-quality healthcare facilities in Canada and the US will facilitate the medical tourism market growth in the region during the forecast period. However, the market growth rate in North America will be slower than the growth of the market in other regions.
Medical Tourism Market 2021-2025: Key Highlights
CAGR of the market during the forecast period 2021-2025
Detailed information on factors that will assist medical tourism market growth during the next five years
Estimation of the medical tourism market size and its contribution to the parent market
Predictions on upcoming trends and changes in consumer behavior
The growth of the medical tourism market
Analysis of the market's competitive landscape and detailed information on vendors
Comprehensive details of factors that will challenge the growth of medical tourism market vendors
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Medical Tourism Market Scope
Growth momentum & CAGR
Decelerate at a CAGR of 16.04%
Market growth 2021-2025
USD 16.88 billion
YoY growth (%)
North America, APAC, Europe, MEA, and South America
Performing market contribution
North America at 32%
Key consumer countries
US, South Korea (Republic of Korea), Turkey, Thailand, and Germany
Leading companies, competitive strategies, consumer engagement scope
Anadolu Medical Center, Asian Heart Institute, Asklepios Kliniken GmbH and Co. KGaA, Bangkok Dusit Medical Services Public Co. Ltd., Bumrungrad Hospital Public Co. Ltd., Clemenceau Medical Center, Cleveland Clinic, Fortis Healthcare Ltd., Prince Court Medical Centre Sdn Bhd, and The Johns Hopkins Health System Corp.
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and future consumer dynamics, market condition analysis for the forecast period
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