Country-Niche Players Dominate the Market Holding ~75% of Revenue Share Despite the Presence of about 500 Competitors Comprising Global Players and Regional Players, finds a recent market study on the Global Medical Tourism Market by Ken Research
Medical tourism is the process of organized travel outside the country to avail medical care. Medical tourists travel across the countries to use low-cost healthcare treatments and facilities to maintain, improve, or restore their health. Medical tourists travel to access different kinds of treatments such as neurological care, dental care, cardiovascular care, cosmetic treatments, and other treatment options.
Ken Research shares 3 key insights on the competitive landscape of this dynamic market from its latest research study
1. Country-niche Players Constitute ~93% of the Total Number of Competitors and hold ~75% of the Total Market Revenue
A comprehensive competitive analysis conducted during the Research Study found that the Global Medical Tourism Market is highly competitive with ~500 players which include globally diversified players, regional players as well as a large number of country-niche players having their niche in Medical Tourism. The country niche players comprise ~93% and regional players comprise ~5% of competitors. Most of the country-niche players are strategically collaborating with healthcare associations and others to enhance their visibility in medical tourism.
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2. Leading Global Players Significantly Investing to Boost Healthcare Infrastructure
Detailed comparative analysis of key competitors available within the Research Study shows that key players such as KPJ Healthcare Berhad, Fortis Healthcare, and Asian Heart Institute among others are highly focused on providing high-quality treatments at affordable prices to attract foreign consumers. Furthermore, several companies are aggressively involved in a partnership with governmental, and non-governmental bodies and others to become visible in the market for medical tourism. Companies are focused on enhancing their infrastructure to provide better healthcare, improved hospitality, and individualized care, which is expected to lure more customers seeking medical treatment in other countries.
- In July 2022, Fortis Healthcare announced about adding of approximately 1,500 beds over the next five years to enhance its presence in the existing location. In addition, the company also engaged in strategizing to strengthen its existing specialties and build new medical programs.
3. Increased Government Initiatives Promote Medical Tourism Growth and Development
- In August 2022, the Prime Minister of India announced the “Heal in India” initiative that aims to boost medical tourism in the country as well as to position the country as a global hub for wellness and medical tourism. Under this initiative, the country planned to feature special desks at 10 airports, a multi-lingual portal, and simplified VISA norms for passengers, visiting India for medical treatment.
- In November 2021, the Thai government took initiatives to boost domestic travel for medical purposes. The government is providing subsidies for hotel stays and flights for travelers.
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Key Topics Covered in the Report
- Snapshot of the Global Medical Tourism Market
- Industry Value Chain and Ecosystem Analysis of the Medical Tourism Market
- Market size and Segmentation of the Global Medical Tourism Market
- Historic Growth of the Overall Global Medical Tourism Market and Segments
- Competition Scenario of the Medical Tourism Market and Key Developments of Competitors
- Porter’s 5 Forces Analysis of the Global Medical Tourism Industry
- Overview, Product Offerings, and Strategic Developments of Key Competitors
- COVID-19 Impact on the Overall Global Medical Tourism Market
- Future Market Forecast and Growth Rates of the Global Medical Tourism Market and by Segments
- Market Size of Application/End-User Segments with historical CAGR and Future Forecasts
- Analysis of the Medical Tourism Market in Major Regions
- Major Production / Consumption Hubs in the Major Regions
- Major Production/Supply and Consumption/Demand Hubs in Each Region
- Major Country-wise Historic and Future Market Growth Rates of the Total Medical Tourism Market and Segments
- Overview of Notable Emerging Competitor Companies within Each Major Region
Major Companies Profiled in the Report
- Aditya Birla Health Services Ltd.
- Apollo Hospitals Enterprise Ltd.
- Fortis Healthcare
- Asian Heart Institute
- KPJ Healthcare Berhad
- Nippon Telegraph and Telephone East Corporation
- Samitivej PCL
- Wooridul Spine Hospital
- Seoul National University Hospital
- Prince Court Medical Centre
Notable Emerging Companies Mentioned in the Report
- Bangkok Hospital Group
- Bumrungrad International Hospital
- Livonta Global
- Max Healthcare
- Klinikum Medical Link
Key Target Audience – Organizations and Entities Who Can Benefit by Subscribing This Report
- Private Hospitals Chains
- Medical Tourism Service Providers
- Medical Associations
- Governmental Regulatory Bodies
- Financial Institutions
- Investors for Hospitals
- Tourism Service Providers
- Medical Equipment Manufacturers
- Medical Researchers
- Pharmaceutical Products Manufacturers
- Hotel Chains Focused on Medical Tourists
- Health-tech Companies
Period Captured in the Report
- Historical Period: 2017-2021
- Forecast Period: 2022E-2028F
For More Information on the Research Report, refer to below links: –
Global Medical Tourism Market: Ken Research
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