According to organic market research report, ‘United States Medical Tourism Market – Industry Trends, Size, Share, Competition Forecast & Opportunities, 2028’, the United States Medical Tourism Market future is projected to reach a value of USD 376.04 billion by 2028, at a CAGR of 39.8% in the forecast period. Health tourism involves individuals looking for medical care or processes abroad, with specific importance on catering to patients demanding difficult treatments and surgeries. The need for medical tourism, specifically among international patients, is propelled by the significantly lower cost of medical processes in emerging countries compared to those in developed countries, where healthcare can be prohibitively luxurious. The user-friendliness of cost-effective services and treatments through different tourism agencies and local government agencies is a foremost contributing to the expansion of the United States medical tourism market size.

Due to its medical technology and expertise in healthcare services, the United States is projected to emerge as a popular destination for medical tourists. This is attributed to the region’s improved medical infrastructure and the availability of highly skilled medical professionals proficient in different specialties such as oncology, and neurology. Medical tourism refers to the practice of individuals traveling across different borders to access medical services that may not be available in their home country. In addition, supportive government policies focused on improving medical infrastructure and substantial investments in research and development are projected to propel further growth in the United States medical tourism market share.

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The growing incidence of cancer attributed to factors like lifestyle decisions and environmental pollutants is propelling market expansion in the United States. Thereby, there is a projected increase in cross-border travelers looking for top-notch cancer treatment. Factors including widespread availability of health insurance, elevated service standards, and growing adherence to International Quality Standards are all fostering the United States medical tourism market growth in the forecast period. In addition, healthcare institutions are offering all-inclusive medical tourism packages that include different travel-related services like ticket booking, medical insurance, and accommodation arrangements, catering to the requirements of patients looking for treatment abroad. The proximity of Mexico to the United States serves as the foremost driver for expanding its medical tourism market. In addition, the availability of cost-effective healthcare facilities compared to those across the United States further propels this growth. The active involvement of the Mexican government in encouraging medical tourism through marketing initiatives has significantly accelerated market development. The increase in research and development efforts within the healthcare sector and the expanding geriatric population resulting from the baby boomer generation in the United States present lucrative opportunities for stakeholders in the United States medical tourism market.

In addition, the rising geriatric population resulting from the baby boomer generation in the United States and an increase in healthcare research and development activities present different growth opportunities for market players. However, the cost of medical treatment remains prohibitively high. Although treatments are generally dependable, they are often accompanied by heavy price tags. Likewise, essential healthcare products are also priced at luxurious rates. Nevertheless, the growth of the market is limited by different factors including travel-related challenges, requirements for assisting documents, communication limitations, problems with VISA approvals, and the shortage of acceptance of medical insurance across Mexico. Furthermore, the absence of adequate medical training and uncertainty surrounding treatment centers further limit market growth. The concerns regarding the high costs of medical tours and the safety of visitors also impose restrictions on the enlargement of the industry to some extent. 

Based on type, the market is segmented into outbound and inbound segments. In 2018, the inbound medical tourism segment held a share of the market, propelled by the growing prevalence of ailments including cardiovascular disorders, cancer, and several other chronic illnesses.  The country boasts a robust research pipeline dedicated to pioneering treatment choices, including innovations like human genetic engineering, which offer substitutes for traditional processes. Since, 2018, the U.S. has seen the initiation of four clinical trials using CRISPR technology to address severe medical conditions, likewise cancers including lymphoma and melanoma.

Furthermore, the U.S. outbound medical tourism sector is anticipated to witness rapid expansion in the forecast period. This can be attributed to different factors, comprising the accessibility of enhanced benefits including effective healthcare services, cutting-edge and innovative technologies, modern medical devices, modern medications, enhanced hospitality standards, and customized patient care. Thailand’s prominence as a leading tourist destination in Asia also plays an important role in propelling the need for outbound medical tourism from the U.S.

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