Medical Travel Companion Market Size, Share, Growth, and Industry Analysis, By Type (Private and Hospital), By Application (Elderly and Disabled), Regional Insights, and Forecast To 2032

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MEDICAL TRAVEL COMPANION MARKET REPORT OVERVIEW

The Medical Travel Companion Market size was valued at approximately USD 1.5 billion in 2023 and is expected to reach USD 3 billion by 2032, growing at a compound annual growth rate (CAGR) of about 8% from 2023 to 2032

A medical travel companion is a trained medical professional who can assist a patient with any injury, disease or disability in national and international travel. These trips may be for medical reasons, personal reasons or just for leisure. Having a medical travel companion for a person with a fragile medical condition is very helpful as they are trained in all basic medical care, carry any necessary medicines with them at all times in case of an emergency and can even arrange flights, point to point transport and accommodation to put the patient at ease.

COVID-19 IMPACT

"Market Growth Promoted by Pandemic due to Global Lockdown"

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The worldwide lockdown and rapid closing of national and international borders made it even more difficult for a patient seeking urgent medical care to travel. This increased the demand for medical travel companions as they could plan the travel as well as make sure the patient was well taken care of in case of any emergency.

LATEST TRENDS

"Globalization Of Healthcare Boosts Market Size"

One of the latest trends is the increasing awareness for personal care during the COVID-19. Surgeries like limb replacements or organ transplants need a skilled professional from another country which is simple nowadays due to globalization. The developments in medical procedures, presence of skilled medical professionals as well as easy access to healthcare has led to an increase in medical tourism and also an increase in demand for medical travel companions.

MEDICAL TRAVEL COMPANION MARKET SEGMENTATION

By Type

Based on type the global market can be categorised into private, hospital.

• Private: Some private companies are Medical Travel Companions and Jet Companions. They provide nurses, paramedics and doctors for business or leisure travel purposes.

• Hospital: Hospitals many times partner with airlines and hotel chains to ensure safe and comfortable journeys for patients needing emergency medical care along with providing nurses or doctors to come with them.

By Application

Based on application the global market can be categorised into elderly, disabled.

• Elderly: Elderly people may require wheelchair assistance or might get overwhelmed by the chaos of airports which is why they require a medical travel companion.

• Disabled: Disabled patience may require a variety of care from wheelchair assistance to assistance while eating or going to the lavatory and need to be accompanied 24/7.

DRIVING FACTORS

"Increase In Geriatric Population Boosts Market Growth"

One of the driving factors that promotes Medical Travel Companion Market Growth is the increase in geriatric population in developed countries as well as increase in lifestyle diseases and chronic illnesses which has boosted the medical tourism market and therefore the need for medical travel companions.

"Advancements In Healthcare Industry Promotes Market Growth"

Another driving factor is the advancements available in healthcare both in developing new cures and treatments and in machination of the healthcare industry with AI powered tools assisting in surgical procedures. This along with the increase in globalisation and easy availability of these treatments to patients has boosted the medical tourism industry and also the medical travel companion industry.

RESTRAINING FACTORS

"COVID-19 Travel Restrictions May Impede Market Growth"

One of the factors that may impede market growth is the travel restrictions imposed globally during the COVID-19 pandemic. Due to this patients were only allowed to travel after government approval if they had a life threatening condition. This slowdown of the medical tourism industry also adversely affected the medical travel companion industry.

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MEDICAL TRAVEL COMPANION MARKET REGIONAL INSIGHTS

"Developed Healthcare Infrastructure And Presence Of Skilled Medical Professionals Helps North America Dominate The Market"

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa

North America dominates the market holding a large portion of Medical Travel Companion Market Share due to highly developed healthcare infrastructure, presence of highly skilled medical professionals and a large influx of medical tourism due to demand for complex medical procedures.

KEY INDUSTRY PLAYERS

"Key Industry Players Shaping the Market through Innovation and Market Expansion"

The cloth wardrobe market is significantly influenced by key industry players that play a pivotal role in driving market dynamics and shaping consumer preferences. These key players possess extensive retail networks and online platforms, providing consumers with easy access to a wide variety of wardrobe options. Their strong global presence and brand recognition have contributed to increased consumer trust and loyalty, driving product adoption. Moreover, these industry giants continually invest in research and development, introducing innovative designs, materials, and smart features in cloth wardrobes, catering to evolving consumer needs and preferences. The collective efforts of these major players significantly impact the competitive landscape and future trajectory of the market.

List Of Top Medical Travel Companion Companies

• Flying Angels (U.S.)
• SWISS (Switzerland)
• Abercrombie & Kent (U.S.)
• Travel Associates (U.S.)
• Sky Nurses (U.S.)

INDUSTRIAL DEVELOPMENT

January, 2023: Dubai health Authority launched an initiative called ‘Dubai One Day’ targeting international medical patients. This allowed international patients to book medical procedures and travel to Dubai in a matter of hours.

REPORT COVERAGE

The study encompasses a comprehensive SWOT analysis and provides insights into future developments within the market. It examines various factors that contribute to the growth of the market, exploring a wide range of market categories and potential applications that may impact its trajectory in the coming years. The analysis takes into account both current trends and historical turning points, providing a holistic understanding of the market's components and identifying potential areas for growth.

The research report delves into market segmentation, utilizing both qualitative and quantitative research methods to provide a thorough analysis. It also evaluates the impact of financial and strategic perspectives on the market. Furthermore, the report presents national and regional assessments, considering the dominant forces of supply and demand that influence market growth. The competitive landscape is meticulously detailed, including market shares of significant competitors. The report incorporates novel research methodologies and player strategies tailored for the anticipated timeframe. Overall, it offers valuable and comprehensive insights into the market dynamics in a formal and easily understandable manner.