A health tourist is a person who travels abroad to receive health care services. Although people from developed countries would travel to developed countries in the past. The goal of health and medical tourism is to have greater access to better health care, innovative medicine, modern devices and personalized care. Of course, it should be noted that currently a major part of the industry includes services that are not covered by health care insurance, such cosmetic surgery and infertility treatments.
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Market / Industry segment of medical tourism
| Base Year | Market size(B$) | Duration(YEAR) | CAGR(%) | Source Name |
| 2020 | 66.7 | 7 | 11.60% | Globe news wire |
| 2019 | 44.8 | 8 | 21.10% | Grand view research |
| 2017 | 53.768 | 8 | 12.90% | Allied marke tresearch |
| 2019 | 19 | 6 | 6.50% | GMInsights |
| 2020 | 27.8 | 5 | 18.80% | Market Data Forcast |
Influencing factors that changes market size of medical tourism
The size of the market value changes under the influence of many factors; the increase and decrease in the rate of these influential factors leads to changes in the value of the market size, which is provided by direct and reverse drivers in the market of medical tourism
Direct drivers:
- Internet penetration
- Quality and advanced medical treatments
- Increased demand for cosmetic procedures, gender reassignment surgery and infertility treatment
- Lack of health insurance coverage for specific medical treatments
Reverse drivers:
- Unsafe conditions of the country of destination
- Corona pandemic
- High travel and medical expenses
Your startup has crossed Death Valley, and it has had at least 2 funding rounds? Discounted Cash Flows (DCF)
Your startup has had at least one funding round, you are advised to use Multiples method for valuation.
Your startup is at pre-seed and seed funding rounds, you are advised to use the Score Cards Method, Risk Factors Summation method to value your startup.
The following risks may threaten this market.
In all different markets and industries, risk is always one of the factors that business founders should be sufficiently aware of. The first step is risk assessment is identification of risks in the market in order to perform risk management. The market of medical tourism may also be threatened by following risks:
- International risk
- Reputation risk
- Legislation risk
- Sales and marketing risk
