Outbound Medical Tourism Services Market: Cosmetic Surgery Treatment Therapeutic Application Segment Anticipated to Occupy Significant Market Share Through 2026: North America Industry Analysis and Opportunity Assessment, 2016-2026

  • Published: 2016-11-18
  • Report Code: REP-NA-2158

An Incisive, In-depth Analysis on the North America Outbound Medical Tourism Services Market

This study offers a comprehensive, 360 degree analysis on the North America Outbound Medical Tourism Services market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global North America Outbound Medical Tourism Services market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

Outbound medical tourism in North America is rising substantially as a result of an increasing number of people from the region opting for cross border treatment. Cross border countries offer medical treatments at significantly low costs. According to a 2014 International Medical Tourism Journal study, the cost of treatment in the U.S. is 85% higher than that offered in countries like India, Mexico, etc. For instance, treatments such as knee replacement costing around US$ 35,000 to US$ 60,000 in the U.S. cost less than US$ 20,000 in Costa Rica and India, inclusive of lodging and airfare costs. This is prominently leading to a rise in potential for the North America outbound medical tourism services market. In terms of revenue, the North America outbound medical tourism services market is projected to register a CAGR of 25.5% during the forecast period and is expected to be valued at US$ 150.36 Bn by the end of 2026.

Rising patient preference for outbound medical services expected to boost market growth

Rising rate of health insurance premiums, high cost of medical treatments in the U.S, and parallel tourism with medical treatment are some of the main factors anticipated to drive revenue growth of the North America outbound medical tourism services market over the forecast period (2016 – 2026). Growth of the North America outbound medical tourism services market is further driven by a large ageing baby boomer population and a large uninsured population, long waiting time for appointments with specialists in the U.S, and an increasing preference for non-conventional treatment options.

However, lack of effective follow-up care on returning home, rampant medical malpractices in medical tourism destinations, proliferation of superbugs in medical tourism destinations, problems associated with language barriers, and privacy concerns are some of the challenges anticipated to restrict market growth of the North America outbound medical tourism services market over the forecast period.

Market segmentation

By Therapeutic Application

By Region

  • Cosmetic Surgery Treatment

  • Dental Treatment

  • Cardiovascular Treatment

  • Orthopaedic Treatment

  • Cancer Treatment

  • Fertility Treatment

  • Weight Loss Treatment

  • Spinal Surgery Treatment

  • Neurology Treatment

  • Other General Treatment

  • U.S

  • Canada

Cosmetic Surgery Treatment therapeutic application segment anticipated to occupy a significant share of the North America outbound medical tourism services market through 2026

In terms of revenue share, the Cosmetic Surgery Treatment segment dominated the North America outbound medical tourism services market in 2015 and is expected to dominate throughout the forecast period, registering a high value CAGR of 32.9%. The Dental Treatment segment is expected to occupy substantial share in terms of volume in the North America outbound medical tourism services market and is anticipated to witness a CAGR of 27.2% in terms of value over the forecast period.

U.S. projected to occupy a major share in the North America outbound medical tourism services market in terms of value

In terms of value, U.S. is expected to be the dominant regional market by 2026 end and is estimated to register a CAGR of 25.7% over the forecast period. Canada is expected to have comparatively less market potential for outbound medical tourism services, registering a CAGR of 18.1% over the forecast period.

north america outbound medical tourism services market_Image for preview analysis

Top market players are focussing on increasing market penetration in emerging markets through strategic alliances with local healthcare providers

Some of the key players operating in the North America outbound medical tourism services market are Apollo Hospital Enterprise Limited, Bumrungrad International Hospital, KPJ Healthcare Berhad, Christus Muguerza Hospital, WorldMed Assist, Mednamaste, and Global Medical Tourism Inc. Some of these companies are adopting strategies such as backward integration to support their core business of medical tourism. Companies are offering services such as insurance and financing for medical tourism and are looking to expand their global footprint by enhancing their foreign customer base.

Future Market Insights offers a 10-year forecast for the North America outbound medical tourism services market. The primary objective of the report is to offer updates and information related to market opportunities in the North America outbound medical tourism services market. Our study demonstrates key market dynamics expected to influence the current environment and future status of the North America outbound medical tourism services market over the forecast period (2016 – 2026). In this report, we present useful insights on key trends, drivers, restraints, value forecasts, and opportunities for companies operating in the North America outbound medical tourism services market.

Report description

To understand and assess opportunities in the North America outbound medical tourism services market, we have presented the market forecast for the different therapeutic applications (Cosmetic Surgery Treatment, Dental Treatment, Cardiovascular Treatment, Orthopaedic Treatment, Cancer Treatment, Fertility Treatment, Weight Loss Treatment, Spinal Surgery Treatment, Neurology Treatment, Other General Treatment) across the two major North American countries U.S and Canada. The report provides analysis of the North America outbound medical tourism services market in terms of market value (US$ Mn) and volume.

The report begins with the market definition followed by definitions of the different outbound medical tourism services and different therapeutic applications. The market dynamics section includes our in-depth analysis of the key trends, drivers, restraints, opportunities, and macro-economic factors influencing the growth of the North America outbound medical tourism services market. The subsequent sections analyse the North America outbound medical tourism services market on the basis of therapeutic applications and countries and present a comprehensive market forecast in terms of value for the next 10 years. Our study further discusses key trends within the two countries contributing to the growth of the regional market and analyses the degree to which drivers are influencing the market in each region.

In the final section of the report, we have included a competitive landscape to provide a dashboard view of key companies operating in the North America outbound medical tourism services market. This section is primarily designed to provide clients with an objective and detailed comparative assessment of key providers specific to a market segment in the North America outbound medical tourism services market and the potential players. This section also includes market strategies and a SWOT analysis of the main players operational in the North America outbound medical tourism services market. We have also covered detailed profiles of the key players operating in the North America outbound medical tourism services market to evaluate their long- and short-term strategies, key offerings, and recent developments in the North America outbound medical tourism services market.

Research methodology

We have leveraged extensive secondary research to ascertain overall market size and top industry players. Critical market data has also been acquired through personal interviews with key stakeholders in the North America outbound medical tourism services market. Data gathered through comprehensive primary and secondary research has been validated by the triangulation method and further scrutinised using advanced tools to arrive at useful qualitative and quantitative insights. Given the ever-fluctuating nature of the global economy, we have not only conducted our forecasts in terms of CAGR, but have also analysed the market on the basis of key parameters such as year-on-year (Y-o-Y) growth to understand the predictability of the market and to identify the right opportunities across the North America outbound medical tourism services market.

Another important feature of our report is the analysis of key market segments in terms of absolute dollar opportunity, critical in assessing the level of opportunity that a provider can look to achieve as well as to identify potential resources from a sales and delivery perspective for services offered by the North America outbound medical tourism services market. Further, to understand key segments in terms of growth and performance in the North America outbound medical tourism services market, Future Market Insights has developed a market attractiveness index to help providers identify existing market opportunities across the North America outbound medical tourism services market.

North America Outbound Medical Tourism Services Market Reports - Table of Contents

North America Outbound Medical Tourism Services Market Reports - List of Tables

Table 01: North America Outbound Medical Tourism Services Market Value (US$ Mn) Forecast By Therapeutic Application, 2016–2026

Table 02: North America Outbound Medical Tourism Services Market Volume ('000 Procedures) Forecast By Therapeutic Application, 2016–2026

Table 03: North America Outbound Medical Tourism Services Market Value (US$ Mn) Forecast By Country, 2016–2026

Table 04: North America Outbound Medical Tourism Services Market Volume ('000 Procedures) Forecast By Country, 2016–2026

Table 05: US Outbound Medical Tourism Services Market Value (US$ Mn) Forecast By Therapeutic Application, 2015–2026

Table 06: US Outbound Medical Tourism Services Market Volume ('000 Procedures) Forecast By Therapeutic Application, 2015–2026

Table 07: Canada Outbound Medical Tourism Services Market Value (US$ Mn) Forecast By Therapeutic Application, 2016–2026

Table 08: Canada Outbound Medical Tourism Services Market Volume (In Procedures) Forecast By Therapeutic Application, 2016–2026

North America Outbound Medical Tourism Services Market Reports - List of Figures

Figure 1: North America Outbound Medical Tourism Services Market Value (US$ Mn) & Volume ('000 Procedures) Forecast, 2015–2026 

Figure 2: North America Outbound Medical Tourism Services Market value (US$ Mn) Incremental Opportunity, 2015–2026 

Figure 3: North America Outbound Medical Tourism Services Market Y-o-Y Growth, 2015–2026 

Figure 4: North America Outbound Medical Tourism Services Market – Scenario Forecast, 2016–2026 (US$ Mn)

Figure 5: North America Outbound Medical Tourism Services Market Volume ('000 Unit) Forecast, 2015–2026 

Figure 6: Cosmetic Surgery Treatment Price Difference (US$) By Country, 2015

Figure 7: Cosmetic Surgery Treatment Price (US$) By Country, 2015

Figure 8: Dental Treatment Price Difference (US$) By Country, 2015

Figure 9: Dental Treatment Price (US$) By Country, 2015

Figure 10: Cardiovascular Treatment Price Difference (US$) By Country, 2015

Figure 11: Cardiovascular Treatment Price (US$) By Country, 2015

Figure 12: Orthopedic Treatment Price Difference (US$) By Country, 2015

Figure 13: Orthopedic Treatment Price (US$) By Country, 2015

Figure 14: Cancer Treatment Price Difference (US$) By Country, 2015

Figure 15: Cancer Treatment Price (US$) By Country, 2015

Figure 16: Fertility Treatment Price Difference (US$) By Country, 2015

Figure 17: Fertility Treatment Price (US$) By Country, 2015

Figure 18: Weight Loss Treatment Price Difference (US$) By Country, 2015

Figure 19: Weight Loss Treatment Price (US$) By Country, 2015

Figure 20: Spinal Surgery Treatment Price Difference (US$) By Country, 2015

Figure 21: Spinal Surgery Treatment Price (US$) By Country, 2015

Figure 22: Neurology Treatment Price Difference (US$) By Country, 2015

Figure 23: Neurology Treatment Price (US$) By Country, 2015

Figure 24: Other General Treatment Price Difference (US$) By Country, 2015

Figure 25: Other General Treatment Price (US$) By Country, 2015

Figure 26: Major Countries for North America Outbound Medical Tourism Service by Therapeutic application

Figure 27: North America Outbound Medical Tourism Services Market Share Analysis (%) By Therapeutic Application, 2016 & 2026

Figure 28: North America Outbound Medical Tourism Services Market Y-o-Y Growth (%) By Therapeutic Application, 2016–2026

Figure 29: North America Outbound Medical Tourism Services Market Attractiveness Analysis By Therapeutic Application, 2016–2026

Figure 30: North America Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Cosmetic Surgery Treatment, 2016–2026

Figure 31: North America Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Dental Treatment, 2016–2026

Figure 32: North America Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Cardiovascular Treatment, 2016–2026

Figure 33: North America Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Orthopedic Treatment, 2016–2026

Figure 34: North America Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Cancer Treatment, 2016–2026

Figure 35: North America Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Fertility Treatment, 2016–2026

Figure 36: North America Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Weight Loss Treatment, 2016–2026

Figure 37: North America Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Spinal Surgery Treatment, 2016–2026

Figure 38: North America Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Neurology Treatment, 2016–2026

Figure 39: North America Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Other General Treatment, 2016–2026

Figure 40: North America Outbound Medical Tourism Services Market Share Analysis (%) By Country, 2016 & 2026

Figure 41: North America Outbound Medical Tourism Services Market Y-o-Y Growth (%) By Country, 2016–2026

Figure 42: North America Outbound Medical Tourism Services Market Attractiveness Analysis By Country, 2016–2026

Figure 43: North America Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By US, 2016–2026

Figure 44: North America Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Canada, 2016–2026

Figure 45: US Outbound Medical Tourism Services Market Share Analysis (%) By Therapeutic Application, 2016 & 2026

Figure 46: US Outbound Medical Tourism Services Market Y-o-Y Growth (%) By Therapeutic Application, 2016–2026

Figure 47: US Outbound Medical Tourism Services Market Attractiveness Analysis By Therapeutic Application, 2016–2026

Figure 48: US Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Cosmetic Surgery Treatment, 2016–2026

Figure 49: US Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Dental Treatment, 2016–2026

Figure 50: US Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Cardiovascular Treatment, 2016–2026

Figure 51: US Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Orthopedic Treatment, 2016–2026

Figure 52: US Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Cancer Treatment, 2016–2026

Figure 53: US Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Fertility Treatment, 2016–2026

Figure 54: US Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Weight Loss Treatment, 2016–2026

Figure 55: US Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Spinal Surgery Treatment, 2016–2026

Figure 56: US Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Neurology Treatment, 2016–2026

Figure 57: US Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Other General Treatment, 2016–2026

Figure 58: Canada Outbound Medical Tourism Services Market Share Analysis (%) By Therapeutic Application, 2016 & 2026

Figure 59: Canada Outbound Medical Tourism Services Market Y-o-Y Growth (%) By Therapeutic Application, 2016–2026

Figure 60: Canada Outbound Medical Tourism Services Market Attractiveness Analysis By Therapeutic Application, 2016–2026

Figure 61: Canada Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Cosmetic Surgery Treatment, 2016–2026

Figure 62: Canada Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Dental Treatment, 2016–2026

Figure 63: Canada Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Cardiovascular Treatment, 2016–2026

Figure 64: Canada Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Orthopedic Treatment, 2016–2026

Figure 65: Canada Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Cancer Treatment, 2016–2026

Figure 66: Canada Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Fertility Treatment, 2016–2026

Figure 67: Canada Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Weight Loss Treatment, 2016–2026

Figure 68: Canada Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Spinal Surgery Treatment, 2016–2026

Figure 69: Canada Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Neurology Treatment, 2016–2026

Figure 70: Canada Outbound Medical Tourism Services Market Absolute $ Opportunity (US$ Mn) By Other General Treatment, 2016–2026

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