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Sep 22, 2023

Cardiovascular Medical Tourism Market Report (2022 to 2030)

Newark, New Castle, USA, March 01, 2023 (GLOBE NEWSWIRE) -- According to a new

Newark, New Castle, USA, March 01, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled, "Cardiovascular Medical Tourism Market by Treatment Type (Coronary Artery Bypass, Cardiac Valve Replacement or Reconstruction), Service Provider (Public and Private) - Global Outlook and Forecast 2020-2030 " published by Growth Plus Reports, the cardiovascular medical tourism market is expected to grow at a CAGR of 7.6% from 2021 to reach US$ 7.0 billion by 2030.

Cardiovascular medical tourism can be broadly characterized as the delivery of cost-effective private cardiovascular treatment in partnership with the travel and tourism sector for people needing specialized surgical and other medical care. Both the commercial and public tourism industries and the corporate sectors are parties to medical tourism. A patient from any nation could select cardiovascular medical travel for a number of reasons. The patient may not want to wait on a long waiting list for care in their native country, and the ailment may require urgent care due to its severity. Secondly, the patient might travel to receive care that is not offered in their country of domicile. Also, the patient might fly to a prime vacation spot for surgery, staying in opulent accommodations with first-class care. Moreover, a patient may seek medical tourism of the cost of domestic healthcare in the native country is significantly high.

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Market Drivers

The primary drivers of the expansion of the global cardiovascular medical tourism market are accessibility and affordability of high-quality healthcare services as well as support from local governments and tourism bureaus. Additionally, the growing availability of cutting-edge medical technology in medical tourism hotspots around the globe is anticipated to fuel market growth. The medical tourism industry anticipating growth challenges due to long payment times from payers, partial reimbursement, travel challenges, language obstacles, a lack of available documentation, and problems with VISA acceptance. However, growing base of hospital networks covered by insurance for cashless transactions is anticipated to present growth prospect for the global cardiovascular medical tourism market.

Excerpts from ‘By Treatment Type Segmentation’

Based on treatment types, the global cardiovascular medical tourism market is segmented into:

Percutaneous Coronary Angioplasty and Stenting

Cardiac Valve Replacement or Reconstruction

Coronary Artery Bypass

Among these, the coronary artery bypass segment accounted for the largest revenue share of the global cardiovascular medical tourism market. The rise in coronary artery disease prevalence around the globe explains the sector expansion. Through coronary artery bypass surgery, an completely or partially clogged artery is circumvented. The benefits of bypass surgery over stents include the fact that a surgical re-vascularization often lasts longer than a stent procedure. The significant price disparity across countries for coronary artery bypass surgery creates a sizable patient pool for those considering cardiovascular medical tourism.

Excerpts from ‘By Region Segmentation’

Based on the regions, the global cardiovascular medical tourism market is segmented into:

North America

Europe

Asia Pacific

Rest of the World

North America has the largest revenue share of the global cardiovascular medical tourism market in 2021. The market in North America is characterized by a significant growth in the prevalence of chronic and cardiovascular disease, a rapidly aging population, and a growth in the number of tourists seeking cardiovascular treatments in the U.S., which boosts provider income generation.

The cardiovascular medical tourism market is rapidly growing in the Asia Pacific region, and this trend is projected to continue in the years to come. An increase in market share is anticipated throughout the projection period as a result of the growing desire for medical travel in emerging countries. Additionally, China has the greatest market share in the Asia-Pacific region due to its superior healthcare system and more affordable healthcare costs. Finally, the market for cardiovascular medical tourism in Asia is supported by the expanding trend of cardiac surgeries in nations such as Thailand and India.

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Excerpts from ‘Competitive Landscape’

The global cardiovascular medical tourism market is fiercely competitive, and major competitors have used various tactics to gain a strong market position. Key companies operating the global cardiovascular medical tourism market are Aditya Birla Memorial Hospital, Apollo Hospitals Enterprise, Asian Heart Institute, Barbados Fertility Center, Fortis Healthcare Limited, KPJ Healthcare Berhad, NTT Medical Center Tokyo, Prince Court Medical Centre, SamitivejSukhumvit Hospital PCL, Seoul National University Hospital, Wooridul Spine Hospital, Gleneagles Hospital, MIn-Sheng General Hospital, Raffles Medical Group, Clemenceau Medical Centers, Anadolu Medical Center, Bangkok Hospital, and Bumrungrad International Hospital, among others.

Cardiovascular Medical Tourism Market Scope

Report Attribute

Details

Market size value in 2021

US$ 3.9 billion

Revenue forecast in 2030

US$ 7.0 billion

Growth Rate

CAGR of 7.6% from 2022 to 2030

Base year for estimation

2021

Forecast period

2022-2030

Historical Year

2020

Segments covered

Treatment Type, Service Provider, and Region

Regional scope

North America, Europe, Asia Pacific, and the Rest of the World (ROW)

Table of Content

INTRODUCTION

Market Ecosystem

Timeline Under Consideration

Historical Years – 2020

Base Year – 2021

Forecast Years – 2022 to 2030

Currency Used in the Report

RESEARCH METHODOLOGY

Research Approach

Data Collection Methodology

Data Sources

Secondary Sources

Primary Sources

Market Estimation Approach

Bottom Up

Top Down

Market Forecasting Model

Limitations and Assumptions

PREMIUM INSIGHTS

Current Market Trends (COVID-19 Perspective)

Key Players & Competitive Positioning (2021)

MARKET DYNAMICS

Drivers

Restraints/Challenges

Opportunities

GLOBAL CARDIOVASCULAR MEDICAL TOURISM MARKET - ANALYSIS & FORECAST, BY TREATMENT TYPE

Coronary Artery Bypass

Cardiac Valve Replacement or Reconstruction

Percutaneous Coronary Angioplasty and Stenting

GLOBAL CARDIOVASCULAR MEDICAL TOURISM MARKET - ANALYSIS & FORECAST, BY SERVICE PROVIDER

Public

Private

VALUE PROPOSITIONS RELATED TO THE REPORT:

Powered with Complimentary Analyst Hours and Expert Interviews with Each Report

Comprehensive quantitative and qualitative insights at segment and sub-segment level

Covid 19 impact trends and perspective

Granular insights at global/regional/country level

Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment

Blanket coverage on competitive landscape

Winning imperatives

Exhaustive coverage on 'Strategic Developments' registered by leading players of the market

CUSTOMIZATION OPTIONS:

Distributor Landscape Assessment

Pricing Intelligence

Customer Base Assessment

Investment & Initiatives Analysis

'Business Profile' of Key Players

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About Us:

Growth Plus Reports is part of GRG Health, a global healthcare knowledge service company. We are proud members of EPhMRA (European Pharmaceutical Marketing Research Association).

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