Medical Tourism Market Size & Share 2021-2027, North America, Europe & APAC Industry Statistics with COVID-19 Impact Analysis: Graphical Research
Europe Medical Tourism market size to reach $13.7 billion valuation by 2027 | Cosmetic surgeries segment to boost growth in North American market | Asia Pacific industry to register 12.9% CAGR through the projected duration
Pune, India – August 6, 2021 /MarketersMedia/ —
Graphical Research has recently added a report on medical tourism market which provides a succinct analysis of the market size, revenue forecast, and the regional landscape of this industry. The report also highlights the major challenges and current growth strategies adopted by the prominent companies that are a part of the dynamic competitive spectrum of this business sphere.
Some of the key trends that will help thrive global medical tourism market through 2027 are as follows:
Increased awareness to benefit Europe medical tourism sector:
Europe medical tourism market is expected to become worth more than $13.7 billion through 2027, according to market reports. There is a sudden rise in awareness about the concept and advantages of medical tourism for consumers and the country as well. Today, an increasing number of people are becoming aware about the sheer number of choices they have when it comes to seeking medical treatments. For example, Germany and France have become well-known medical tourism countries due to the availability of cost-effective yet superior treatment facilities.
Access sample pages of the report, “Europe Medical Tourism Market Forecasts 2027” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1842/sample
Government initiatives will favor Europe healthcare services:
Governments across Europe are bringing in favorable changes in their policies to promote medical tourism in the region. The restrictions on medical travel, for example, have been relaxed by the authorities to increase the influx of foreign patients. According to the statistics presented by the European Parliament, the domestic share of medical tourism has been kept on the higher side, with 5% dedicated to general tourism. Medical tourism contributes about 0.3% to the European economy.
The governments are even trying to enhance the quality of medical tourism through promotional campaigns and partnerships. These features will have a positive impact on medical tourism industry in Europe.
Some of the leading companies engaged in global medical tourism market are Bonn Medical Partners, German International Clinic, Clinica Avino, The London Orthopedic Clinic, Apollo Hospital Enterprise Ltd., Manipal Hospital, Cleveland Clinic, Jackson Health System, among many others.
Rapid medical advancements in North America:
North America medical tourism market will exceed the overall valuation of $3 billion by the year 2027. Countries in the region cater to a high number of patients that are coming from foreign countries, leading to rapid development in their healthcare infrastructure. These nations are increasing their research and development efforts to provide the best medical facilities to their patients. The access to highly skilled healthcare professionals is quite easy, which helps patients in getting the right treatment and care.
Access sample pages of the report, “North America Medical Tourism Market Forecasts 2027” in detail along with the table of contents (ToC) @
https://www.graphicalresearch.com/request/1843/sample
Cosmetic surgeries will witness spike in demand in North America:
Cardiovascular, cosmetic, orthopedic, dental, bariatric surgeries and fertility & oncology treatments are some of the application of North America medical tourism market. In fact, this segment will witness overall growth of 8.6% CAGR through the forecast period of 2021-2027. One of the major reasons for this is the immense popularity of cosmetic surgeries in the region. The regional population is becoming increasingly conscious about its appearance and want to maintain their youth for a longer period of time.
Canada’s medical tourism sector has a notable presence:
Canada will play an important role in the expansion of the regional medical tourism market, at 10.1% CAGR during the mentioned forecast timeline. This is due to several beneficial features of the country’s healthcare infrastructure like advanced medical facilities, robust healthcare system and highly skilled professionals. Another important factor that favors this market’s potential is that most customers prefer to travel to Canada due to high quality patient care and increasing direct-to-consumer marketing by several healthcare companies to attract customers.
Affordability of treatment in Asia Pacific:
Asia Pacific medical tourism industry will surpass $11.9 billion in size through 2027. One of the most important features that makes this region one of the most prized destinations of medical tourism is the price tag of the medical treatments. Countries like India, Thailand, Singapore and Malaysia are widely known to provide state-of-the-art treatment options that are highly affordable. This has only been possible because of the constant efforts taken by the governments of this region to conduct rigorous research and development to improve the overall healthcare infrastructure in these nations.
One important example is that of the launch of the Council Korean Medical Promotion (CKMP) by South Korea with the aim to improve their healthcare system and turn it into a global brand. This council consists of about 35 highly qualified healthcare professionals. These factors will favor Asia Pacific medical tourism industry scenario.
Demand for orthopedic surgery in Asia Pacific increasing:
Among various diseases that will attract patients to developing countries for treatment, the orthopedic surgery segment will gain the most momentum in Asia Pacific medical tourism industry. This segment achieved a valuation of $479 million in the past and is predicted to expand at 13.6% CAGR between 2021-2027. Several people in the developed countries are suffering from various orthopedic diseases that has prompted them to come to developing countries in the region for cost-effective treatments.
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
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