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Latin American Medical Tourism Market Research Report – Segmented by Treatment Type, Country (Mexico, Brazil, Argentina, Chile and Rest of Latin America) - Industry Analysis on Size, Share, COVID-19 Impact Growth, Trends, Forecast (2022 to 2027)

Published: January, 2022
ID: 1773
Pages: 145
Formats: report pdf report excel report power bi report ppt

Latin America Medical Tourism Market Size (2022 to 2027)

The size of the Latin American medical tourism market is estimated to worth USD 17.26 billion by 2027 from USD 7.26 billion in 2022, growing at a CAGR of 18.9% from 2022 to 2027.

Increasing incidences of chronic and infectious diseases are a key factor driving the demand of the Latin American medical tourism market. Medical tourism has great support from government authorities through investments in local enterprises. This is strongly influencing the demand of the market towards the growth side in Latin America. Increasing demand to improve the quality of treatment procedures is also promoting the demand of the market. In addition, the easy availability of medical tourism packages is propelling the growth rate of the market. The rise in awareness over the internet of things and increasing smartphone utilization is accelerating the demand of the Medical tourism market in Latin America. The growing prevalence of state-of-the-art medical facilities to attract customers is making the market size expand. In developed countries, the demand for medical tourism is very high as they provide excellent medical services to the patients and promote the patient's wellbeing after treatment is leveraging the demand of the market. 

The collaboration of insurance companies with hospital management is creating growth opportunities for the market to grow. The demand for fertility treatment is increasing day by day, fuelling the demand of the medical tourism market in Latin America. Growing prevalence to have effective treatment at any cost is evaluating the market's growth rate; the dearth of skilled professionals in undeveloped countries is also encouraging the demand of this market.

However, lack of proper knowledge over the tour packages and other services in rural areas is slightly hampering the market's demand. Fluctuations in the prices of medical equipment are impeding the demand of the medical tourism market. The dearth of skilled people in managing all the devices remains challenging for the market to grow.  

This research report on the Latin American medical tourism market has been segmented and sub-segmented into the following categories:

By Treatment Type: 

  • Cardiovascular Treatment
  • Orthopedic Treatment
  • Fertility Treatment
  • Neurological Treatment
  • Dental Treatment
  • Cancer Treatment
  • Cosmetic Treatment
  • Others

By Country:

  • Mexico
  • Brazil
  • Argentina
  • Chile
  • Rest of Latin America

In Latin America, the Brazilian medical tourism market is expected to hold the most significant share owing to increasing capital income. The rise in the focus to improve the services and provide better quality care to attract customers is elevating the market demand. The medical tourism market in Argentina is next to Brazil in accounting substantial share in Latin American due to the rise in the availability of skilled professionals at a low cost comparatively. The Mexican medical tourism market is forecasted to have inclined growth opportunities in foreseen years by adopting new technologies and implementing innovative schemes favoring the end-users. Also, the launch of innovative devices with the latest technology and growing focus on personalized care are ascribed to outshine the demand of the Medical tourism market in these countries. 

KEY MARKET PLAYERS:

Some of the noteworthy companies operating in the Latin American Medical Tourism Market are Min-Sheng General Hospital, Apollo Hospitals Enterprise Limited, Samitivej Sukhumvit, Fortis Healthcare Ltd., Prince Court Medical Center, Bangkok Hospital Medical Center, Asian Heart Institute KPJ Healthcare Berhad, Raffles Medical Group, and Bumrungrad International Hospital.

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