Medical tourism generates direct foreign exchange income and contributes to the overall development of any economy. Various healthcare centers of developing nations, including both public and private, undertake initiatives for promotion of medical tourism and various.
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A large credit for a sudden boom in medical tourism in india goes to the government that has been quite instrumental in the promotion of the wellness industry.
Medical tourism market size india. According to the medical tourism market report 2015, india was found as one of the lowest cost and highest quality of all medical tourism destinations. Medical tourism generates direct foreign exchange income and contributes to the overall development of any economy. India's medical tourism industry could grow by 200% by 2020, hitting $9 billion, according to ministry of tourism figures.
Asia pacific region accounted for the highest market share of 37% in 2018 and is predicted to grow at a cagr of 12.2% in the forecast period. In 2013, nerd wallet health had analyzed data from the centers for disease control and prevention, the u.s. India is the most prominent destination as per the medical tourism market report:
The medical tourism market is anticipated to reach over usd 31.21 billion by 2026 according to a new research published by polaris market research. The global medical tourism market size is expected to reach usd 207.9 billion by 2027, expanding at a cagr of 21.1%, according to a new report by grand view research, inc. Moreover, widespread of coronavirus has impacted negatively on the medical tourism market.
Medical tourism market size global medical tourism market is valued at usd 82.27 billion in 2017 and expected to reach usd 274.37 billion by 2027 with a cagr of 12.8% over the forecast period. According to verified market research, the global medical tourism market was valued at usd 16.73 billion in 2018 and is projected to reach usd 28.86 billion by 2026, growing at a cagr of 7.07% from 2019 to 2026. It has been estimated, that the medical tourism industry in india will attract over 1.1 million patients from across the globe, by the end of 2012.
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. According to a new report published by report ocean, titled, medical tourism market by treatment type: 2015 due to highest quality treatment provided at the lowest cost.
According to a medical tourism report for the year 2015, more than 2,000,000 patients from abroad traveled to india to seek medical treatment. The global medical tourism market is expected to grow with a cagr of 8.5% during the forecast period. The medical tourism market size is expected to reach usd 207.9 billion by 2027, expanding at a cagr of 21.1%, according to a new report by grand view research, inc.
The size of the global medical tourism market is forecasted to worth usd 27.8 billion in 2020 and estimated to be growing at a cagr of 18.8%, to reach usd 65.79 billion by 2025. The medical tourism market size was $58.62 billion in 2018 and is projected to $149.34 billion by 2026, at a cagr of 12.4% during forecast year. As it tries to expand the industry, the country is trying to make it.
The economic benefits associated with medical tourism is a major factor augmenting the global medical tourism market growth over the forecast period. Global medical tourism market insights 2026: The global medical tourism market size accounted for $104.68 billion in 2019, and is projected to reach $273.72 billion by 2027, registering a cagr of 12.8% from 2019 to 2027 in terms of value.
Medical tourism destinations offer provisions for luxurious stays and cheaper treatment options, which has been attracting tourists from around the world. The global medical tourism market report provides a holistic evaluation of the market for the forecast period. Medical tourism generates direct foreign exchange income and contributes to the overall development of any economy.
In terms of volume, the global medical tourism market accounted for 23,042.90 thousand patients in 2019, and is projected to reach 70,358.61 thousand. The size of the asia pacific medical tourism market was worth usd 7.79 billion in 2020 and estimated to be growing at a cagr of 22.4%, to reach usd 19.87 billion by 2025. For example, medical value for traveling to india includes people traveling from other countries to india for treatment accounted for $3 billion for the ayush sector (ayurveda, yoga & naturopathy, unani, siddha and homoeopathy) before this pandemic.
The availability of additional benefits including better healthcare, latest technologies, innovative medicines, modern devices, better hospitality, and personalized care are. It provides employment and business opportunities for residents. Medical tourism market size valued at usd 10.1 billion in 2020 and is estimated to grow at over 12.1% cagr between 2021 and 2027.
Rising awareness regarding medical tourism among patients will drive the market growth. Medical tourism market size and forecast. The global medical tourism market size is forecast to expand at an impressive 12.3% cagr between 2020 and 2030.
The global medical tourism market size was valued at usd 44.8 billion in 2019 and is expected to grow at a compound annual growth rate (cagr) of 21.1% from 2020 to 2027. The factors associated with the growth of the market include higher treatment cost in developed countries, availability of the latest medical technologies, growing compliance on international quality standards, high quality of service, health insurance portability, and advertising and. Medical tourism or healthcare tourism is defined as to travel across countries to benefit the medical treatment of some.
Medical travel india is projected to capture 2.5% of the international medical tourism market by the year 2012, with concurrent revenue projects of $ 2.3 billion.
