In 2015, it was estimated that medical tourism generated between U.S. $60 and U.S.$70 billion. It was predicted at the time that health tourism would generate at least twice these revenues by 2020. The market in 2019 however is changing rapidly as new laws come into place and the population in general becomes more accustomed to the idea of medical tourism. As a result there are many unknowns to calculate or assume when looking at the medical tourism market. What we do know is that a significant majority of travelers will not declare medical interventions as their reason for travel. Different countries add up the numbers differently. Some include health and wellness tourists in this bracket, or even returning expatriates with a right to treatment in their home country. The industry is now much more closely studied, as interest has grown with public popularity, giving a more accurate outlook of upcoming trends. Zion Market Research published a new report titled “Medical Tourism Market by Treatment Type: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2017 - 2024” which adjusted revenue forecasts over the next 5 years. They have found that the market “is expected to generate revenue of around USD 28.0 billion by the end of 2024, growing at a CAGR of around 8.8% between 2018 and 2024.” By looking at this study, which does predict strong growth, you would still get the impression that overall there is less than 10 billion in trade each year as a result of medical tourism (Source: Helath-Tourism).
Basic Tips of Medical Tourism: What Can We Do?
