Medical tourism market share by applications and regions for 2020- 2026

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Medical tourism market trends research and
projections for 2021- 2027

• A research study conducted by Global Market
  Insights, Inc., suggests that medical tourism
  market is likely to exceed the 37.2 billion mark
  by 2027, in terms of revenue.
• Every year millions of people travel abroad
  seeking medical treatment and efficient surgical
  procedures such as cosmetic surgery,
  cardiovascular surgery, orthopedic and dental
  surgery which is referred to as medical
  tourism.
• The major reasons driving the trend of medical
  tourism are availability of advanced treatment
  procedures and medical equipment with
  cutting-edge technologies across several
  developed countries as well as cost-effective
  treatment options with uncompromising efficiency
  across developing countries.

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• Based on application bifurcation, cardiovascular
  surgery segment had secured a significant market
  share of over 14.0 in the past and is projected
  to register substantial gains over the upcoming
  years. The growth can be credited to increasing
  prevalence of coronary artery diseases in the
  U.S. This is majorly due to the increasing
  consumption of unhealthy diet and habits such as
  lack of physical exercise

• As per American Heart Association (AHA)
  statistics of 2017, every year, around 90 million
  people in the U.S. suffer from coronary heart
  disease. Moreover, the cost of cardiovascular
  surgeries in the U.S. is around USD 125,000.

• Presence of highly qualified healthcare
  professionals in Canada is likely to have
  positive influence on medical tourism. Besides,
  the presence of various major manufacturers in
  the region is anticipated to further enhance the
  business space. In addition, patient base from
  emerging countries who have higher spending
  capabilities prefer getting their treatments in
  countries such as the U.S. and Canada due to the
  availability of advanced and rare oncology
  procedures.

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• Regional Analysis

• Based on the regional outlook, medical tourism
  market in North America is estimated to observe a
  robust CAGR of 8.6 through 2027 owing to the
  availability of enhanced treatment procedures and
  high-tech medical devices. Majority of surgical
  procedures and medical equipment are largely
  launched in the U.S. and Canada which makes North
  America a prime avenue for medical treatments.

• Competitive Analysis

• Pprominent industry players operating on the
  market namely KPJ Healthcare Berhad, Asklepios
  Kliniken GmbH, Apollo Hospitals, Bumrungrad
  International Hospital, Fortis Healthcare, etc.
  are also playing a crucial role in enhancing the
  market proceeds

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ical-tourism-market
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