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Outbound Medical Tourism Services Market: Overview

The mobility across the international boundaries for medical conduct is generally known as Medical tourism. This tourism basically depends on the availability of treatments in the home-based countries. They travel to the different regions to receive the treatment for any diseases or for ailment, which is not available in their respective countries, and for high quality medical services even from experts. The major surgeries involves in outbound medical tourism are weight loss treatment, cosmetic surgery treatment, dental treatment, cardiovascular treatment, fertility treatment, cancer treatment, and orthopaedic treatments. However, the cosmetic surgery, fertility treatments, and dental care are some of the surgeries which expects more demand for medical tourism from all over the world.

Key destinations are from developing countries such as India, South Korea, UK, Thailand, Mexico, Brazil, Malaysia, Barbados, Japan, Singapore, Costa Rica, Hong Kong, Israel, Iran, South Africa, France, Germany, and Turkey among others. These countries offer more specified treatments for medical illnesses, which treatment specific diseases.

Outbound Medical Tourism Services Market: Competitive Landscape

Some of the major players operating in the global outbound medical tourism services market include Apollo Hospital Enterprise Limited, T Global Medical Tourism Inc., Christus Muguerza Hospital Mednamaste, KPJ Healthcare Berhad, Bumrungrad International Hospital, WorldMed Assist.

Some of these medical centres are adopting strategies like medical insurance provision and easy financing schemes; this attracts their outbound medical tourism patients.

Outbound Medical Tourism Services Market: Drivers and Restraints

The growth of outbound medical tourism services market is majorly attributed to increase in per capita income and continuously rising awareness about wellbeing. The increasing inclination toward more aesthetics, which is boosting demand for cosmetic, dental care, weight losses, and critical treatment are boosting overall outbound medical tourism services market.

The major reason for patients to take on outbound medical tourism is to get access to better healthcare particularly for their illness. While other factor is treatment availability and affordability; some of these countries offer disease centric treatments which is fuelling growth of the market.

However, the demand of the outbound medical tourism is restricted due to factors such as unclear information regarding the treatment centres, safety issues of tourists, and the tours being expensive. The other factors leading to sluggish growth are expenses involved in the treatments. Nonetheless, the demand is increasing exponentially and reliability is estimated to offer opportunities for growth in future as well.

Additionally, many treatment centres are offering variety of treatment options along with discounts and payment options. They come up many opportunities to an extent to propel the further growth. Other trends include visiting experts or surgeons to the hospitals for providing treatment to critical patients. Some of these trends are likely to fuel the market growth in coming future.

Outbound Medical Tourism Services Market: Regional Outlook

Among the Among North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa, North America region is expected to remain dominant in the overall outbound medical tourism services market. This growth is attributable to the high investment in the healthcare in the region. The market in Europe is estimated to fuel the market growth owing to robust investment in healthcare. Additionally, the investment for improving existing healthcare is boosting its growth substantially. However, the market across Asia Pacific is estimated to witness most lucrative growth as the investment is flouring and investment for newer technologies is increasing robustly. Further, increasing per capita income and capability of expenditure is likely to boost the demand that is likely to fuel the market in coming future. Additionally, increasing inclination toward more aesthetic has boosted the adoption of improved healthcare in the region, which is influencing positively on the global outbound medical tourism services market. 

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

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Outbound Medical Tourism Services Market

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