Global Medical Tourism Market, by Treatment Type (Cardiovascular, Orthopedic, Neurological, Cancer, Fertility and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) was estimated to be valued at USD 14.56 Bn in 2024 and is expected to exhibit a CAGR of 13.2% over the forecast period (2024-2031), as highlighted in a new report published by Coherent Market Insights.
Increasing prevalence of chronic and acute disease is expected to drive growth of global medical tourism market. According to National Center for Biotechnology Information 2018 report, chronic disease is most prevalent and costly health condition in the U.S. Around 45% of all the Americans suffer from at least one chronic disease including cancer, diabetes, hypertension, heart disease, respiratory diseases, arthritis, and obesity.
For instance, according to the Cancer Research UK, around 17 million new cases of cancer were registered and total 9.6 million deaths occurred due to cancer in 2018, globally. Moreover, the four most common cancers occurring worldwide are lung, female breast, bowel, and prostate cancer.
According to the American Heart Association 2018, 103 million U.S. adults have high blood pressure and 6.5 million people are living with heat failure in U.S.
Furthermore, initiative taken by key player for medical tourism is also expect to boost the market growth. For instance, in October 2019, Apollo BGS Hospitals Mysore launched the first ever Stroke unit on the occasion of World Stroke Day 2019.
Browse 35 Market Data Tables and 33 Figures spread through 185 Pages and in-depth TOC on " Global Medical Tourism Market, Global Medical Tourism Market, by Treatment Type (Cardiovascular, Orthopedic, Neurological, Cancer, Fertility and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Global Forecast to 2027"
To know the latest trends and insights related to global medical tourism market, click the link below:
https://www.coherentmarketinsights.com/market-insight/medical-tourism-market-938
Key Takeaways of the Global Medical Tourism Market:
- The global medical tourism market is expected to exhibit a CAGR of 13.2% over the forecast period (2024–2031), owing to increasing prevalence of chronic and acute diseases
- Among treatment type, the cardiovascular segment is expected to account for a major revenue share by 2027, owing to increasing government initiative for treatment of cardiovascular disease. For instance, in 2016, the World Health Organization (WHO) and UN General Assembly launched the Global Heart initiative to beat the global threat of cardiovascular disease.
- Major players operating in the global medical tourism market include Asian Heart Association, Apollo Hospitals Enterprise Ltd., Prince Court Medical Centre, Gleneagles Hospitals, Min-Sheng General Hospital, Raffles Medical Group, Bangkok Hospital, Fortis Healthcare Ltd., Anadolu Medical Centre and Wooridul Spine Hospital.
