Medical Tourism Market Research Report- Global forecast till 2023

Medical Tourism Market Research Report- Global forecast till 2023

ID: MRFR/HC/1443-CRR | August, 2017 | Region: Global | 71 pages | Cooked Research Reports

Medical tourism market information: by treatment types (orthopedic/spine treatments, oncology/cancer treatments, cosmetic treatments, cardiovascular/cardiology treatments, dental treatments, neurology/neurosurgery treatments, fertility/IVF treatments, others) - Forecast till 2023


 


 Figure: Global medical tourism market by treatment types, 2016 (%)


 


Source: World Health Organization, The Organization for Economic Co-operation and Development (OECD), Centers for Disease Control and Prevention, Visa, Government Reports, Industry Expert, Secondary Research, and MRFR Analysis


 
Intended Audience



  • Multinational Companies

  • Contract Research Organizations (CROs)

  • Research and Development (R&D) Companies

  • Government Research Laboratories

  • Independent Research Laboratories

  • Government and Independent Regulatory Authorities

  • Market Research and Consulting Service Providers



Research Methodology

 


Source: World Health Organization, The Organization for Economic Co-operation and Development (OECD), Centers for Disease Control and Prevention, Visa, Government Reports, Industry Expert, Secondary Research, and MRFR Analysis



Market Synopsis of the Global Medical Tourism Market
Market Scenario
Travelling abroad for medical treatment is not a recent trend, it has been gaining more momentum and media interest in the last decades. According to a report by Oxford Economics and Visa, around 11-14 million people travel abroad for healthcare services.


The global medical tourism market is growing at a steady pace and it is expected to grow at a CAGR of 21.4% during the forecasted period 2017-2023. Availability of cost-effective treatments, quality service & less waiting period, and rising geriatric &  middle class population drives the growth of the market. However, communication barriers and need for travelling may hamper the market growth.



Segments  
                                                                                                                                       
Medical tourism market has been segmented on the basis of treatment types, which comprises of orthopedic/spine treatments, oncology/cancer treatments, cosmetic treatments, cardiovascular/cardiology treatments, dental treatments, neurology/neurosurgery treatments, fertility/IVF treatments, and others.



Regional Analysis of Global Medical Tourism
Market              
The Asia Pacific region accounted for the largest share of the global medical tourism market, which had a lion share of 43.7% in 2016. This growth was attributed to heavy investment in infrastructure development, rising economy, technology up gradation, low cost and quality medical services, and government initiative to promote medical tourism in this region.


America holds the second position in the medical tourism, which is followed by Europe. Central and South American countries such as Mexico, Costa Rica, and Brazil are some of the most popular destinations for Americans and Canadians.


The American medical tourism market is expected to grow till USD 102,496.8 million at a CAGR of 22% by end of the 2023.


Europe is the growing market for the medical tourism. Since people from Western Europe are traveling to America to seek cost-effective treatments, which has relaxed the growth of the market.



Key Findings



  • The global medical tourism market is expected to reach USD 226,762.7 million by 2023.

  • Asia Pacific holds the largest share of 43.7% of the global market.

  • Orthopedic/spine by type holds the largest market share of 14.9% of the global medical tourism market and is expected to reach USD 27,902.8 million by the end of the forecast period.

  • Globally, Oncology/Cancer is the fastest growing segment and expected to grow at a rate of CAGR 21.9% during the forecast period owing to continuously increasing prevalence of different types of cancers.



Key Players in the Global Medical Tourism Market                                    

Some of the key players in this market are Asklepios Kliniken Verwaltungsgesellschaft mbH (Germany), Fortis Healthcare (India), Gleneagles Global Hospitals Group. (Singapore), Prince Court Medical Centre (Malaysia),  Samitivej PCL (Thailand), CHRISTUS MUGUERZA (Mexico), Anadolu Medical Center (Turkey), and others.


The report on the global medical tourism market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain deeper insight to the market and industry performance. The report gives a clear picture of the current market scenario which includes historical and projected market size in terms of value and volume, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions

1    REPORT PROLOGUE    8

2    INTRODUCTION    11

2.1    SCOPE OF STUDY    11

2.2    RESEARCH OBJECTIVE    11

2.3    ASSUMPTIONS & LIMITATIONS    12

2.3.1    ASSUMPTIONS    12

2.3.2    LIMITATIONS    12

3    RESEARCH METHODOLOGY    13

3.1    RESEARCH PROCESS    13

3.2    PRIMARY RESEARCH    14

3.3    SECONDARY RESEARCH    14

4    MARKET DYNAMICS    15

4.1    INTRODUCTION    15

4.1.1    DRIVERS    16

4.1.1.1    COST EFFECTIVE TREATMENTS    16

4.1.1.2    QUALITY SERVICE AND LESS WAITING PERIOD    16

4.1.1.3    AGEING POPULATION AND RISING MIDDLE CLASS    16

4.1.2    RESTRAINTS    17

4.1.2.1    COMMUNICATION BARRIERS    17

4.1.2.2    TRAVELLING BEFORE AND AFTER SURGERY    17

4.1.3    OPPORTUNITIES    17

4.1.3.1    INCREASING NUMBER OF MEDICAL TOURISTS    17

4.1.4    CHALLENGES    18

4.1.4.1    SECURITY OF PATIENT INFORMATION AND OTHER ILLEGAL PRACTICES    18

5    MARKET FACTOR ANALYSIS    19

5.1    PORTERS FIVE FORCES ANALYSIS    19

5.1.1    BARGAINING POWER OF SUPPLIERS    20

5.1.2    BARGAINING POWER OF BUYERS    20

5.1.3    THREAT OF NEW ENTRANTS    20

5.1.4    THREAT OF SUBSTITUTES    21

5.1.5    INTENSITY OF RIVALRY    21

5.2    VALUE CHAIN ANALYSIS    21

5.2.1    HEALTHCARE SERVICES PROVIDERS/HOSPITALS    21

5.2.2    FACILITATORS    21

5.2.3    PATIENTS    21

5.2.4    AIRLINES    22

5.2.5    HOTELS    23

5.2.6    INSURANCE PROVIDERS    23

6    GLOBAL MEDICAL TOURISM MARKET, BY TREATMENT TYPE    24

6.1    INTRODUCTION    24

6.2    ORTHOPEDIC/SPINE TREATMENTS    26

6.3    ONCOLOGY/CANCER TREATMENTS    27

6.4    COSMETIC TREATMENTS    28

6.5    CARDIOVASCULAR/CARDIOLOGY TREATMENTS    29

6.6    DENTISTRY TREATMENTS    30

6.7    NEUROLOGY/NEUROSURGERY TREATMENT    31

6.8    FERTILITY/IVF TREATMENTS    32

7    GLOBAL MEDICAL TOURISM MARKET, BY REGION    33

7.1    INTRODUCTION    33

7.2    AMERICAS    35

7.2.1    CENTRAL AMERICA    37

7.2.2    NORTH AMERICA    40

7.2.3    SOUTH AMERICA    43

7.3    EUROPE    44

7.3.1    CENTRAL & EASTERN EUROPE    45

7.3.2    WESTERN EUROPE    49

7.3.3    REST OF EUROPE    53

7.4    ASIA PACIFIC    54

7.5    MIDDLE EAST & AFRICA    60

8    COMPETITIVE LANDSCAPE    66

8.1    INTRODUCTION    66

8.1.1    ANADOLU MEDICAL CENTER    67

8.1.2    ASKLEPIOS KLINIKEN VERWALTUNGSGESELLSCHAFT MBH    67

8.1.3    BANGKOK HOSPITAL    68

8.1.4    BUMRUNGRAD INTERNATIONAL HOSPITAL    68

8.1.5    CHRISTUS MUGUERZA    68

8.1.6    CLEMENCEAU    68

8.1.7    FORTIS HEALTHCARE    69

8.1.8    GLENEAGLES GLOBAL HOSPITALS GROUP    69

8.1.9    PRINCE COURT MEDICAL CENTRE    69

8.1.10    SAMITIVEJ PCL    70

8.1.11    SCHOEN-KLINIKEN    70

8.1.12    SHOULDICE HOSPITAL    70

List of Tables

TABLE 1    GLOBAL MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    26

TABLE 2    GLOBAL MEDICAL TOURISM MARKET SHARE FOR ORTHOPEDIC/SPINE TREATMENTS, 2014-2023 (USD MILLION)    27

TABLE 3    GLOBAL MEDICAL TOURISM MARKET SHARE FOR ONCOLOGY/CANCER TREATMENTS, 2014-2023 (USD MILLION)    28

TABLE 4    GLOBAL MEDICAL TOURISM MARKET SHARE FOR COSMETIC TREATMENTS, 2014-2023 (USD MILLION)    29

TABLE 5    GLOBAL MEDICAL TOURISM MARKET SHARE FOR CARDIOVASCULAR/CARDIOLOGY TREATMENTS, 2014-2023 (USD MILLION)    30

TABLE 6    GLOBAL MEDICAL TOURISM MARKET SHARE FOR DENTISTRY TREATMENTS, 2014-2023 (USD MILLION)    30

TABLE 7    GLOBAL MEDICAL TOURISM MARKET SHARE FOR NEUROLOGY/NEUROSURGERY TREATMENT, 2014-2023 (USD MILLION)    31

TABLE 8    GLOBAL MEDICAL TOURISM MARKET SHARE FOR FERTILITY/IVF TREATMENTS, 2014-2023 (USD MILLION)    32

TABLE 9        GLOBAL MEDICAL TOURISM MARKET SHARE BY REGION, 2014-2023 (USD MILLION)            35

TABLE 10    AMERICAS MEDICAL TOURISM MARKET SHARE BY REGION, 2014-2023 (USD MILLION)            36

TABLE 11    AMERICAS MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    36

TABLE 12    CENTRAL AMERICA MEDICAL TOURISM MARKET SHARE BY COUNTRY, 2014-2023 (USD MILLION)    37

TABLE 13    CENTRAL AMERICA MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    38

TABLE 14    MEXICO MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    39

TABLE 15    COSTA RICA MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    40

TABLE 16    NORTH AMERICA MEDICAL TOURISM MARKET SHARE BY COUNTRY, 2014-2023 (USD MILLION)    41

TABLE 17    NORTH AMERICA MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    41

TABLE 18    US MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)            42

TABLE 19    CANADA MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    42

TABLE 20    SOUTH AMERICA MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    43

TABLE 21    EUROPE MEDICAL TOURISM MARKET SHARE BY REGION, 2014-2023 (USD MILLION)            45

TABLE 22    EUROPE MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    45

TABLE 23    CENTRAL & EASTERN EUROPE MEDICAL TOURISM MARKET SHARE BY COUNTRY, 2014-2023 (USD MILLION)    45

TABLE 24    CENTRAL & EASTERN EUROPE MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    46

TABLE 25    HUNGARY MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    46

TABLE 26    POLAND MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    47

TABLE 27    CZECH REPUBLIC MEDICAL TOURISM MARKET SHARE BY TRETMENT TYPE, 2014-2023 (USD MILLION)    47

TABLE 28    WESTERN EUROPE MEDICAL TOURISM MARKET SHARE BY COUNTRY, 2014-2023 (USD MILLION)    49

TABLE 29    WESTERN EUROPE MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    49

TABLE 30    BELGIUM MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    50

TABLE 31    SPAIN MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    51

TABLE 32    GERMANY MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    51

TABLE 33    UK MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)            52

TABLE 34    REST OF EUROPE MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    53

TABLE 35    ASIA PACIFIC MEDICAL TOURISM MARKET SHARE BY COUNTRY, 2014-2023 (USD MILLION)    55

TABLE 36    ASIA PACIFIC MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    55

TABLE 37    THAILAND MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    56

TABLE 38    INDIA MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    57

TABLE 39    SINGAPORE MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    57

TABLE 40    MALAYSIA MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    58

TABLE 41    REPUBLIC OF KOREA MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    59

TABLE 42    REST OF ASIA PACIFIC MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    60

TABLE 43    MIDDLE EAST & AFRICA MEDICAL TOURISM MARKET SHARE BY COUNTRY, 2014-2023 (USD MILLION)    61

TABLE 44    MIDDLE EAST & AFRICA MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    62

TABLE 45    UAE MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    62

TABLE 46    SAUDI ARABIA MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    63

TABLE 47    TURKEY MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2014-2023 (USD MILLION)    64

TABLE 48    REST OF MIDDLE EAST & AFRICA MEDICAL TOURISM MARKET SHARES BY TREATMENT TYPE, 2014-2023 (USD MILLION)    65

TABLE 49    AVERAGE COST OF TREATMENT IN HOSPITALS OF SELECTED COUNTRIES, 2016 (USD)            67

List of Figures

FIGURE 1    GLOBAL MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2016 (%)    9

FIGURE 2    GLOBAL MEDICAL TOURISM MARKET SHARE BY REGION, 2016 (%)    10

FIGURE 3    RESEARCH PROCESS    13

FIGURE 4    MARKET DYNAMICS    15

FIGURE 5    VALUE CHAIN OF MEDICAL TOURISM MARKET    22

FIGURE 6    GLOBAL MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2016 (%)    25

FIGURE 7    GLOBAL MEDICAL TOURISM MARKET SHARE BY TREATMENT TYPE, 2016 & 2023 (USD MILLION)    25

FIGURE 8    GLOBAL MEDICAL TOURISM MARKET SHARE BY REGION, 2016 (%)    34

FIGURE 9    GLOBAL MEDICAL TOURISM MARKET SHARE BY REGION, 2016 & 2023 (USD MILLION)            34

FIGURE 10    AMERICAS MEDICAL TOURISM MARKET SHARE BY REGION, 2016 (%)    35

FIGURE 11    CENTRAL AMERICA MEDICAL TOURISM MARKET SHARE BY COUNTRY, 2016 (%)    37

FIGURE 12    NORTH AMERICA MEDICAL TOURISM MARKET SHARE BY COUNTRY, 2016 (%)    40

FIGURE 13    EUROPE MEDICAL TOURISM MARKET SHARE BY REGION, 2016 (%)    44

FIGURE 14    EUROPE MEDICAL TOURISM MARKET SHARE BY REGION, 2016 & 2023 (USD MILLION)            44

FIGURE 15    ASIA PACIFIC MEDICAL TOURISM MARKET SHARE BY COUNTRY, 2016 (%)    54

FIGURE 16    ASIA PACIFIC MEDICAL TOURISM MARKET SHARE BY COUNTRY, 2016 & 2023 (USD MILLION)    54

FIGURE 17    MIDDLE EAST & AFRICA MEDICAL TOURISM MARKET SHARE BY COUNTRY, 2016 (%)            60

FIGURE 18    MIDDLE EAST & AFRICA MEDICAL TOURISM MARKET SHARE BY COUNTRY, 2016 & 2023 (USD MILLION)    61