Medical tourism—when a person travels to another country to undergo a treatment—is anticipated to reach over $125.8 billion by 2026, according to new research published by global market research and consulting company Polaris Market Research (Atlanta).
According to the report, “Medical Tourism Market Worth $125.8 Billion By 2026 | CAGR:16.3%,” demand for medical tourism has been on the rise in recent years but attracting international customers has posed a challenge. The orthopedic treatment segment dominated the global medical tourism market in revenue, while Asia-Pacific generated the highest revenue in the medical tourism market.
Furthermore, Asia-Pacific is expected to be the leading region globally during the forecast period from 2020 to 2026 with increasing demand, accessibility of healthcare facilities, and increasing number of medical facilities for international patients as primary factors driving the region’s market growth. Decreased cost of various treatment procedures in the countries across Asia Pacific also is expected to boost the market in coming years.
The report also points to impediments to the medical tourism market growth, including issues with patient follow-up, post-surgical complications, and different standards for treatment in various countries.
Key players leading medical tourism include Bumrungrad International Hospital (Bangkok), Apollo Hospitals Enterprise Limited (Chennai, Tamil Nadu, India), KPJ Healthcare Berhad (Kuala Lumpur, Malaysia), Prince Court Medical Center (Kuala Lumpur), Raffles Medical Group (Singapore), Fortis Healthcare (Gurgaon, Haryana, India), and Samitivej Hospital (Bangkok) and could provide strategies for others to follow, the report notes.
For more information, the report can be found here.
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