Solan Headlines

Medical Tourism Market to Reach $179.6 Billion by 2026 | Leading Private Hospitals Boosting Medical Tourism are Bumrungrad International Hospital, Samitivej Hospitals, and Bangkok Hospital Group

 Breaking News
  • No posts were found

Medical Tourism Market to Reach $179.6 Billion by 2026 | Leading Private Hospitals Boosting Medical Tourism are Bumrungrad International Hospital, Samitivej Hospitals, and Bangkok Hospital Group

February 12
02:07 2020
Medical Tourism Market to Reach $179.6 Billion by 2026 | Leading Private Hospitals Boosting Medical Tourism are Bumrungrad International Hospital, Samitivej Hospitals, and Bangkok Hospital Group

Grand View Research, Inc. – Market Research And Consulting.
According to report published by Grand View Research, The global medical tourism market size was valued at USD 36.9 billion in 2018 and is expected to exhibit a CAGR of 21.9% over the forecast period

The global medical tourism market size is expected to reach USD 179.6 billion by 2026, according to a new report by Grand View Research, Inc., registering a 21.9% CAGR during the forecast period. Medical tourism generates direct foreign exchange income and contributes to the overall development of any economy. It also provides employment and business opportunities for residents. Moreover, it aids the growth of associated businesses such as pharmaceuticals, medical devices, and tourism. Government support to maintain the general reputation and political stability of the host country is a key factor driving the medical tourism market.

Government authorities are willing to invest in local enterprises to capitalize on the growth of medical tourism. Such government bodies have been authorizing projects that help in the overall development of infrastructure in a country, such as public transport system and water supply facilities, to attract high-end medical travelers.

Medical tourism has led to a rise in state-of-the-art medical facilities in developing countries to attract foreign nationals, resulting in fast growth of healthcare infrastructure in such countries. Moreover, healthcare providers now offer comprehensive medical tourism packages that include services ranging from ticket booking to hotel stay and medical insurance.

Request a Sample Copy of the Global Medical Tourism Market Research Report @ www.grandviewresearch.com/industry-analysis/medical-tourism-market/request/rs1

Thailand dominated the market in terms of revenue in 2018 owing to low cost and good quality medical services offered in the country. In 2016, Thailand ranked 18th in the International Healthcare Research Center’s Medical Tourism Index. Moreover, the country ranked 13th on the same index in terms of quality of facilities and services provided owing to well-developed healthcare infrastructure and increasing number of medical professionals. Thailand is also home to Asia’s first largest private hospital, Bumrungrad International Hospital, which is also the first hospital to receive a JCI accreditation and ISO 9001 certification. Till date, over 53 private hospitals have received JCI accreditation.

Global medical tourism market size, by country, 2015 - 2026 (USD Billion)

Further key findings from the study suggest: 

  • While Thailand is popular for cosmetic procedures, India is most preferred for cardiovascular and orthopedic procedures. Brazil and Costa Rica, on the other hand, are preferred for dental procedures
  • Thailand dominated the market in terms of revenue in 2018 due to the massive difference in treatment cost compared to developed countries. Around 2.4 million people visited Thailand to seek medical care in 2017 owing to low cost and good quality medical services
  • Singapore, Colombia, Taiwan, and Spain are some of the fastest growing medical tourism destinations in this market. Medical tourism is an important source of revenue generation for these countries, boasting advanced healthcare infrastructure and skilled manpower to cater to international patients
  • Bumrungrad International Hospital and Apollo Hospitals Enterprise Ltd. are the leading treatment destinations for medical tourism in Thailand and India respectively. Other prominent examples include Mexicali Bariatric Center in Mexico and TMC Fertility in Malaysia.

Thailand medical tourism market share, by treatment type, 2018 (%)

Have Any Query? Ask Our Experts @ www.grandviewresearch.com/inquiry/1119/ibb

Grand View Research has segmented the global medical tourism market based on country:

Medical Tourism Country Outlook (Revenue, USD Million, 2015 – 2026)

  • Thailand
  • India
  • Costa Rica
  • Mexico
  • Malaysia
  • Singapore
  • Brazil
  • Colombia
  • Turkey
  • Taiwan
  • South Korea
  • Czech Republic
  • Spain

Browse Related Report:

Wellness Tourism Market: www.grandviewresearch.com/industry-analysis/wellness-tourism-market

Workplace Stress Management Market: www.grandviewresearch.com/industry-analysis/workplace-stress-management-market

About Grand View Research

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist – U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/medical-tourism-market