COVID-19 Impact and Future Investment opportunity of Medical Tourism Market

According to a recent report published by Research Dive, the global medical tourism market is forecasted to reach $142.2 billion by the end of 2026, from $58.6 billion in 2018. The comprehensive report provides a brief overview on the current and pre-pandemic scenario of the market including other aspects such as dynamics of the market, growth and restraining factors, challenges, and opportunities during the forecast period. The report also offers the market figures which makes it easier and more beneficial for the new participants to understand the market.

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 Factor Impacting the CAGR Figures

The report reveals the real-time CAGR garnered by the market during the pandemic. According to the report, the medical tourism market is predicted to grow at a CAGR of 11.7% during the forecast period, while it was expected to be 12.4% in the pre-Covid-19 scenario. The reason behind this downfall is the temporary restriction in international travel and tourism.

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Factors Impacting the Market Size in the Pre-COVID and Real-time Scenario

According to the report, the real-time market size has been decreased compared to the pre-Covid-19 estimations. The real-time market size is expected to garner a revenue of $44.2 billion, while it was estimated to reach to $73.7 million in a previous analysis. In order to prevent the spread of the coronavirus, governments of various countries imposed temporary restrictions on international and national travel. A recent report states that almost 96% of international borders have been closed in order to curb the spread of the fatal virus. Moreover, with the increasing cases of COVID-19, medicals are facing the shortage of medical staff which is another factor impacting the growth of the market in a negative way.

Post Pandemic Insights

As per the report, the medical tourism market is expected to recover from the loss in the 1st and 2nd quarter of 2022. The leading market players are emphasizing on the research and development, merger and acquisition, and other strategies to restore the market growth in the upcoming years.

About Us:
Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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