According to the report “Europe Medical Tourism Market,” published by Market Data Forecast, the global market is projected to reach USD 10.30 billion by 2021 from USD 4.33 billion in 2016, at a CAGR of 18.9% from 2016 to 2021.
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Medical Tourism is where people who live in one country travel to another country to receive medical, dental and surgical care while at the same time receiving equal to or greater care than they would have in their own country, and are traveling for medical care because of affordability, better access to care or a higher level of quality of care. “Domestic Medical Tourism” is where people who live in one country travel to another city, region or state to receive medical, dental and surgical care while at the same time receiving equal to or greater care than they would have in their own home city, and are traveling for medical care because of affordability, better access to care or a higher level of quality of care.
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High treatment costs, advancements in technology, long waiting time’s circumstances for medical procedures, and development of market are propelling the growth of the market. Stringent documentation forms, issues related with visa endorsement, and limited protection scope are the limiting the growth of the market.
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Europe Medical Tourism market: Segmentation
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Europe Medical Tourism market: Overview
Medical tourism has had a tremendous impact on the healthcare system. It has allowed for development of expertise in specialty treatments at various destinations across the world.
Medical tourism has helped fund research & development activities in the healthcare industry. It has also attracted further investments for development of infrastructure and service capabilities of popular service providers.
Globalization, communication revolution, and better logistic connectivity has allowed for patients to reach remote pockets of the world that offer necessary specialty services with excellence.
Medical tourism attracts potential customers of service providers in one destination to another. This results in a considerable loss in customer base and eventually revenue streams.
Owing to this loss of profitability, institutions are unable to invest in research and development and improve or grow their capabilities. Furthermore, owing to a lack of profitability, it becomes difficult for such institutions to attract investments for developing their capabilities and expertise.
Europe Medical Tourism market: Region-wise Outlook
On the basis of geography, the Europe market is analyzed under various regions namely U.K, Spain, Germany, Italy and France. North America, trailed by Europe, has the highest market share for medical tourism because of affordability and availability of costly treatment for medical tourism and developments in medication treatments in this region.
Key Questions Answered
- What is the current and future Medical Tourism market outlook worldwide? What trends are affecting the Europe market?
- What is the competitive landscape and market share of major players in the Medical Tourism space in Europe?
- What are the key, high growth markets that Medical Tourism should expand into? Which market segments are growing the fastest?
- What are the unmet needs with the Medical Tourism currently on the market? How will emerging technologies fulfil these unmet needs?
- What is physician perception and market outlook of Medical Tourism?
- What are the challenges and barriers that have hindered widespread adoption of Medical Tourism?
Europe Medical Tourism market: Key Players
Some of the key players dominating the market by their products and services are Min-Sheng General Hospital, Apollo Hospitals Enterprise Limited, Fortis Healthcare Ltd., Asian Heart Institute, Samitivej Sukhumvit, Prince Court Medical Center, Raffles Medical Group, Bangkok Hospital Medical Center, KPJ Healthcare Berhad, and Bumrungrad International Hospital.
Reasons to access Europe Medical Tourism market Report:
- Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
- Segment-level analysis on basis of product type, application, colour along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail
- Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics
- Study of macro and micro environmental factors that affect the market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses
- A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and Analyst overview to study and sustain the market environment
- Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies
- Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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