Global Health Pursuits: North America Outbound Medical Tourism Services Market Set to Soar with a Notable CAGR of 6.5% by 2030
MarkWide Research, a reputable market intelligence firm, has unveiled its latest report titled, “Global Health Pursuits: North America Outbound Medical Tourism Services Market Set to Soar with a Notable CAGR of 6.5% by 2030”, shedding light on the dynamic North America outbound medical tourism services market. The study indicates that the market is set to achieve a notable CAGR of 6.5% from 2023 to 2030. This growth is attributed to the increasing interest among North American patients in seeking quality healthcare services abroad.
Outbound medical tourism involves individuals traveling to other countries for medical treatment and procedures, often to access cost-effective and high-quality healthcare services. The North American region is witnessing a rising trend of individuals exploring medical tourism options, driven by the desire for specialized treatments, affordable care, and timely access to medical services.
Key Findings from the Report:
- Cost Savings and Quality: Patients are exploring medical tourism to access treatments and procedures at a fraction of the cost they would incur in their home countries. Quality healthcare services and access to specialized treatments are also key drivers.
- Timely Access: Long wait times for certain medical procedures in North America are prompting patients to seek timely treatment abroad. Medical tourism offers quicker access to healthcare services, reducing the waiting period.
- Specialized Procedures: Medical tourists often seek specialized medical procedures, including elective surgeries, cosmetic treatments, dental care, and fertility treatments, which may not be easily accessible in their home countries.
- Global Healthcare Destinations: Patients are exploring a diverse range of destinations for medical tourism, considering factors such as medical expertise, facilities, cultural attractions, and travel convenience.
- Market Challenges: While the North America outbound medical tourism services market presents growth opportunities, challenges such as regulatory considerations, language barriers, and concerns about post-treatment follow-up care could influence patient decisions. However, the growing network of medical tourism facilitators and international medical facilities is expected to address these challenges.
The report provides a comprehensive analysis of the North America outbound medical tourism services market, segmented by treatment type (surgery, dental, cosmetic, and others), destination country, patient demographics, and geography. The surgery segment is projected to hold a significant share due to the demand for a wide range of surgical procedures.
Regional Analysis:
The North American region, encompassing the United States and Canada, holds a significant position in the global outbound medical tourism services market. The region’s healthcare system dynamics, cost considerations, and the pursuit of quality medical care drive patients to explore medical tourism options. The United States, with its diverse population and healthcare infrastructure, is a key contributor to the market’s expansion.
In conclusion, the North America outbound medical tourism services market is on a trajectory of growth, driven by the pursuit of cost-effective, specialized medical care and the desire for timely treatments. As patients seek global healthcare opportunities, the market is projected to achieve a notable CAGR of 6.5% from 2023 to 2030.