The medical tourism market reached a value of USD 19.28 billion in 2022 and is forecasted to increase from USD 24.14 billion in 2023 to USD 93.38 billion by 2030, showing a compound annual growth rate (CAGR) of 21.3% during 2023-2030. In 2022, North America held the largest share of the global market at 25.82%.
According to the Medical Tourism Association (MTA), approximately 14 million individuals worldwide travel to foreign countries annually to access medical treatment. Significant progress in the healthcare sector, attributed to the introduction of medical devices and non-invasive surgical techniques, has been a key factor driving the surge in global medical procedure tourism. In recent years, medical tourism has garnered attention among affluent nations like the U.S.
They have provided accurate and reliable market data and useful recommendations with an aim to help the players gain an insight into the overall present and future market scenario. This report comprises an in-depth study of the potential segments including product type, application, and end-user, and their contribution to the overall market size. The report provides an accurate and professional study of The complex analysis of opportunities, growth factors, and future forecasts presented in simple and easy-to-understand formats. The report covers the Medical Tourism Market by developing technology dynamics, financial position, growth strategy, and product portfolio during the forecast period.
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A list of some players that are profiled in the report includes
- Bumrungrad International Hospital (Bangkok, Thailand)
- Apollo Hospitals (Chennai, India)
- Bangkok Chain Hospital (Nonthaburi, Thailand)
- Fortis Healthcare (Delhi, India)
- Asian Heart Institute (Mumbai, India)
- KPJ Healthcare Berhad (Kuala Lumpur, Malaysia)
- Livonta Global (Ahmedabad, India)
- Gleneagles Hospital (Mumbai, India)
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Market Drivers:
The increase in healthcare expenses in developed countries has become a challenge for both healthcare providers and patients. Additionally, government-imposed regulations in various countries can cause delays in performing certain surgeries within the healthcare system. This situation has prompted individuals to seek medical treatment in foreign countries. According to the Medical and Health Tourism Congress (MHTC), medical care is more affordable in Asian nations compared to private hospitals in the U.S. For instance, a heart bypass surgery in Thailand costs USD 13,000, while the same procedure costs USD 113,000 in the U.S.
Region-Wise Classification of the Medical Tourism Market:
- The Middle East and Africa (Turkey, GCC Countries, Egypt, South Africa)
• North America (United States, Mexico, and Canada)
• South America (Brazil, Argentina, Dominican Republic etc.)
• Europe (Germany, Russia, UK, Italy, France, etc.)
• Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia, and Australia)
Segmentation:
By Service
Medical Treatment
- Cardiac Procedures
- Oncology Procedures
- Orthopedic & Spine Procedures
- Dental Procedures
- Others
- Cosmetic Treatment
- Cosmetic Procedures
- Rejuvenation Procedures
- Others
- Alternative Treatment
By Service Provider
- Public
- Private
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Frequently Asked Questions
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