Medical Tourism Market, By Treatment Type (Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics, Bariatric Surgery, Fertility Treatment, Ophthalmic Treatment, Other Treatments), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2034

Report Code: PMI380020 | Publish Date: June 2022 | No. of Pages: 187

Global Medical Tourism Market By Overview

Medical Tourism Market accounted for US$ 34.6 Billion in 2024 and is estimated to be US$ 207.5 Billion by 2034 and is anticipated to register a CAGR of 6.1%.

Medical tourism is referred to as traveling to another country for medical care. Mostly medical tourism refers to the travel of patients from less-developed countries to developed nations in pursuit of the treatment that is not available in their homeland. However, the market is currently experiencing a paradigm shift in patient’s mobility, as many people travel from developed countries to developing countries for cost constraints reasons. Therefore the market for medical tourism is spurring in developing countries. 

Medical Tourism Market Size

Global Medical Tourism Market By Drivers & Restraints

Availability at low price

The current most trending factor which drives the medical tourism market is the high cost of medical treatment in developed countries and their availability at low price in other countries. As countries in the Asia Pacific, Middle East and Latin America provide a high quality of medical services at a much lower rate compared to developed economies. Further, based on advanced technologies South Korea is recognized to have the best medical facilities for aesthetic procedures.

Increasing and availability of enhanced quality services

Additionally increasing compliance on international quality standards and availability of enhanced quality services is also expected to foster the global medical tourism market. Further, some other factors that drive the global market of medical tourism are the availability of most advanced technology, better-quality care for medically necessary procedures, quicker access for medically necessary procedures, and lower-cost care for discretionary procedures. However, the restraining factors are ethical concerns, epidemic outbreaks, issues with patient follow up which may hamper the growth of the global medical tourism market.

Global Medical Tourism Market By Segmentations & Regional Insights

The medical tourism market is segmented based on treatment type and region.

Global medical tourism is a rapidly developing sector, with rising demand for affordable and specialized treatments. Further, growth in telemedicine services, internet services and advertisements for medical tourism has also greatly supported the global medical tourism market.

The global medical tourism market is further segmented by treatment type, which includes Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics, Bariatric Surgery, Fertility Treatment, Ophthalmic Treatment, and Other Treatments.

Regional Insights:

Further, the global medical tourism market is also segmented by region which includes North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Asia Pacific region is considered as a dominating region over the forecast period as, the demand for cosmetic surgery, dental treatment and fertility treatment are particularly growing in India. Further, the cost of living is often affordable, which also supports the growth of the medical tourism market in the Asia Pacific region.

Attribute

Details

Base year for estimation

2020

Forecast period

2024 – 2034

Market representation

Revenue in USD Million & CAGR from 2020 – 2029

Market Segmentation

By Treatment: Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics, Bariatric Surgery, Fertility Treatment, Ophthalmic Treatment, Other Treatments

Regional scope

North America - U.S., Canada

Europe - UK, Germany, Spain, France, Italy, Russia, Rest of Europe

Asia Pacific - Japan, India, China, South Korea, Australia, Rest of Asia-Pacific

Latin America - Brazil, Mexico, Argentina, Rest of Latin America

Middle East & Africa - South Africa, Saudi Arabia, UAE, Rest of Middle East & Africa

Report coverage

Revenue forecast, company share, competitive landscape, growth factors, and trends

Detailed Segmentation:

Medical Tourism Market, By Treatment Type:

  • Cosmetic Treatment
  • Dental Treatment
  • Cardiovascular Treatment
  • Orthopaedics
  • Bariatric Surgery
  • Fertility Treatment
  • Ophthalmic Treatment
  • Other Treatments

Medical Tourism Market, By Region:

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Russia
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • India
    • Japan
    • South Korea
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • Israel
    • South Africa
    • Rest of Middle East & Africa

Global Medical Tourism Market By Competitive Landscape & Key Players

The key players operating the global medical tourism market are Medretreat, Healthbase, Apollo Hospitals, KPJ Healthcare Behard, Klinikum Medical Link, Euromedical Tours, BB Health Solutions, and Cosmetic Travel. The key players are mostly involved in geographical expansion to spur the market. For instance, Mar 2018 Apollo Pharmacy, the nation’s foremost and largest branded pharmacy network opened its 3000th retail unit at Seevaram, Thuraipakkam, and Chennai.

Medical Tourism Market Key Players

Global Medical Tourism Market By Recent News

  • In February 2024, Bali’s New Health Tourism Centre in Sanur aims to Open In 2024. Construction on the new Bali International Hospital is nearly completed, and equipment will soon be installed. Intensive testing will begin before the first patients are treated in Q4 of 2024. Yet, the new Sanur Special Economic Zone will feature more than just the hospital.
  • In November 2022, Korea: Turning the Focus to an Emerging Global Leader in Medical Tourism. South Korea is in the spotlight, as many American health payers are paying attention to Korea’s advances in medicine and robust medical travel opportunities. South Korea has been a leading player in the medical tourism industry over the last decade, with more than 400,000 foreign patients yearly visiting the country for medical treatment.
  • In August 2021, Dubai: An advanced healthcare destination. With a strategic focus on developing and providing the finest quality of healthcare, Dubai has positioned itself as a healthcare hub for not only medical tourists but also global investors.
     

Global Medical Tourism Market By Company Profile

  • Medretreat 
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial performance 
  • Healthbase
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial performance 
  • Apollo Hospitals
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial performance 
  • KPJ Healthcare Behard
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial performance 
  • Klinikum Medical Link
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial performance 
  • Euromedical Tours
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial performance 
  • BB Health Solutions
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial performance 
  • Cosmetic Travel
    • Company Overview
    • Product Portfolio
    • Key Highlights
    • Financial performance 

FAQs

The global medical tourism market is segmented based on treatment type and region

The current most trending factor which drives the medical tourism market is the high cost of medical treatment in developed countries and their availability at low price in other countries.

Asia Pacific region is considered as a dominating region over the forecast period as, the demand for cosmetic surgery, dental treatment and fertility treatment are particularly growing in India.

The key players operating the global medical tourism market are Medretreat, Healthbase, Apollo Hospitals, KPJ Healthcare Behard, Klinikum Medical Link, Euromedical Tours, BB Health Solutions, and Cosmetic Travel.