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Global Medical Tourism Market to Accrue Earnings worth $27270 billion by 2027 with CAGR of 127% from 2020 to 2028 - Zion Market Research / a Crash Analysis & Technology

Global Medical Tourism Market to Accrue Earnings worth $27270 billion by 2027 with CAGR of 127% from 2020 to 2028 - Zion Market Research / a Crash Analysis & Technology

As per the study of Zion Market Research, global medical tourism market size accounted for the number of global hospitals that were used in medical travel. 2019 is 142,60 billion dollars in 2050. It is expected to reach to the highest of the expected 700,000 people. By 2027, 272 milliard dollars will be 272,70 kilos in the sand of $220 billion by 2028. registering, registring, and reregistering. With a CAGR of 12,7 % from 2020 to 2027, the CATA will be 12.7 per cent from the year 2020-2020 period. Value is a factor in value. In terms of volume, global medical tourism market accounted for 24,045.80 thousand patients in 2019 and is projected to reach 74,358.59 thousand in 2027, registering a CAGR of 15.3% from 2020 to The increase in cost-efficiency and demographic patterns has also led to a huge increase of healthcare expenditure. The factors will likely be the focal point of the rising medical tourism market in the next decade. The need for improved healthcare access, affordability, and quality will lead to a growth across medical tourism market over years.

In the United States and Canada, healthcare costs have skyrocketed since last two decades and hence people living in these countries are traveling either to Latin America or Asian Countries like India and Thailand for medical treatment. The hospital stays in the U.S. cost more than other countries. For instance, a hospital stay in the United States costs nearly $1 11701 per day, while compared to $1 154 per night stay at Mexico and $ 95 for same in Costa Rica.

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Thus costs in other countries within the vicinity of the United States cost fraction of US hospital charges for same period of hospital stay for patients. This has vivified scope of medical tourism industry across the globe. For the record, hip replacement surgeries cost nearly US$57,215 in some states across the U.S., while same hip surgery can be done at less than US dollars in Spain and Mexico for nearly USD 12,499. In the UK, hip replacement costs only cost less than US$16.111. Besides, knee replacement costs about 10 499 dollars in Mexico and 12 455 dollars dollars on Costa Rica. Thailand costs about 14, 293 dollars. All the above figures show the cost of different surgeries in the United States as compared to other countries, and justify the reason for the travel of Americans to abroad for medical treatment. This will encourage the expansion of medical tourism across the world in the coming years.

Surging Dental Problems & Cosmetic Surgery Trends to Market Size A Market size - Trending to Become Larger in the Dental Market.

The cost of dental treatment in the US and European countries is very high; therefore, the person from these countries travels to other countries where they receive effective medical treatment at reasonable prices. This will drive growth of medical tourism market over the next year. In the United States, medical costs are very high because treatment of dental problems is very costly and Medicare does not cover dental costs. Mexico has become a convenient destination for dental surgery & dental treatments at minimal costs. Moreover, the rise of cosmetic surgeries across the globe is forecast to promote the growth of medical tourism industry over the coming years. For example, hair transplants, face lifts and bariatric surgeries, breast augmentation, surgery and rhinoplasty cost over half of the US' medical expenses in countries such as Mexico. All these factors will drive growth of medical tourism market across the globe. In other countries, there has been a prominent increase in patients in the number of patients who are in need of medical & dental treatment since last few years. In 2019, nearly 450,000 people travelled to other countries for dental treatment and about 3000 left their own countries to avail apt medical treatment at reduced costs. Although COVID pandemic had adversely impacted medical tourism activities in 2020, it began recovering in some areas quickly and surpassed its revenue in terms of dollars. According to reports, medical departures contribute nearly 14.5% of total outbound business in the U.S.

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To make a significant contribution to Medical Tourism Market By 2027, Asia Pacific will make significant contributions to the medical tourism market.

In Asia Pacific, the rising demand for medical tourism in the region with forecast timeframe can be blamed for the popularity of Thailand as one of the most popular destinations for tourists who seek cost-effective and proficient medical treatment. This will drive economic growth in Southeast Asia, thereby driving regional market trends. With the rise in demand for medical services in countries such as China, Cambodia, Vietnam, Laos and Myanmar, the medical tourism market is slated to become a market in Asia Pacific. The Asia Pacific population will reach a high height thanks to the low cost of dental treatment & bypass surgery in India. Medical tourism business environment is likely to boom in Asia Pacific and saw a marked growth due to favorable government policies.

As per the study, the key to the success of medical tourism industry included are Fortis Healthcare, Apollo Hospitals Enterprise Limited, Spire Healthcare and KPJ Berhad, Bumrungrad Hospital Public Co Ltd., Min-Sheng

This review is based on a report released by Zion Market Research entitled, "It's Into the Life of the World." Global Industry Perspective, Comprehensive Analysis and Forecast, 2020 2027 "Global Medical Tourism Market - by Treatment Type (Cancer, Orthopedic Treatment, Fertility, Cardiovascular Treatments, Neurological Treatment and Others), Global

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This report segments the global medical tourism market into four segments.

According to treatment type, according to the treatment types.

  • Cancer treatment
  • Orthopedic Treatment.
  • Fertility treatment is a treatment for Fertalility.
  • Cardiovascular Treatment ( Cardiopulmonary Treatment)
  • Neurological treatment
  • Others

By region, by region.

  • North America
    • The USA and the USA are the United States.
    • Canada
  • Europe
    • France
    • The UK has a few of these UKs.
    • Spain
    • Germany
    • Italy
    • Rest of Europe rests on a eurozone level.
  • Asia Pacific Asia AsiaPacific Asia-Pacific Pacific Pacific
    • China
    • Japan Japan
    • India India
    • South Korea is the country's smallest country.
    • Southeast Asia is a Southeast Asian region.
    • Rest of Asia Pacific Rest Rest, Pacific Pacific.
  • Latin America
    • Brazil Brazil
    • Mexico Mexico
    • Rest of Latin America rests in Latin American America.
  • Middle East & Africa - Middle Eastern / Africa- u.s.
    • GCC and GCS are the only countries that have a GRC.
    • South Africa
    • Rest of Middle East & Africa / Rest - Rest Africa, Rest Middle West & amp; African... Rest-Africa : Rest African and Middle Eastern Rest Asia Rest Rest

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