The pandemic continues to cause unprecedented disruption across industries worldwide.
Get detailed insights regarding the impact of COVID-19 on the market.
According to the estimates by IMARC Group, the global medical tourism market is expected to witness a CAGR of 22.98% from 2022 to 2027.
Patients are increasingly adopting medical migration, owing to high treatment expenditures for chronic ailments in several developed nations, thereby representing one of the key drivers for the global medical tourism market.
The implementation of favorable government policies promoting the growth of the medical infrastructures and extensive research and development (R&D) activities are some of the key trends in the global medical tourism market.
Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary travel restrictions which has negatively impacted the growth of the market.
On the basis of the treatment type, the market has been segmented into cosmetic treatment, dental treatment, cardiovascular treatment, orthopaedic treatment, bariatric surgery, fertility treatment, ophthalmic treatment, and others. At present, cosmetic treatment exhibits a clear dominance in the market.
Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.
The key companies in the global medical tourism market are Aditya Birla Memorial Hospital, Apollo Hospitals Enterprise Limited, Asian Heart Institute, Barbados Fertility Center, BB Healthcare Solutions., Fortis Healthcare, Healthbase, KPJ Healthcare Berhad, Prince Court Medical Centre, Samitivej, Seoul National University Hospital, UZ Leuven, etc.
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