Medical Tourism Market, By Service Provider, By Treatment Type, By Geography

Description

The medical tourism market is estimated to be valued at USD 14.56 Bn in 2024 and is expected to reach USD 34.69 Bn by 2031, growing at a compound annual growth rate (CAGR) of 13.2% from 2024 to 2031.

Report Coverage		Report Details
Base Year:	2023	Market Size in 2024:	US$ 14.56 Bn
Historical Data for:	2019 To 2023	Forecast Period:	2024 To 2031
Forecast Period 2024 to 2031 CAGR:	13.20%	2031 Value Projection:	US$ 34.69 Bn

Figure 1.Medical Tourism Market Share (%), By Region, 2024

Medical tourism refers to the practice of traveling across international borders to obtain private medical care. Rising healthcare costs, long wait times in home countries, and availability of high-quality but lower-cost treatment in other countries are the major factors driving the growth of medical tourism. Countries, such as India, Thailand, Singapore, and Mexico, have emerged as popular global destinations for medical tourism due to their world-class facilities, qualified doctors and paramedics who are trained abroad, and significantly lower costs compared to treatments in Western countries. While certain types of surgery such as cosmetic, cardiac, and orthopedic procedures are the most common services sought through medical tourism, it also includes specialty treatments like fertility enhancement, dentistry, and cancer therapy. The global medical tourism market is projected to exhibit strong growth during the forecast period due to increasing healthcare affordability and accessibility.

Market Dynamics:

The global medical tourism market is driven by rising healthcare costs, long waiting times, and limited availability of specialized treatments in developed nations. High costs of procedures in countries like the U.S. coupled with the growing burden of non-communicable diseases is a key factor pushing patients to seek affordable treatment options abroad. Countries in Asia and Latin America have emerged as popular destinations as they provide world-class infrastructure and medical expertise at nearly half to one-third of the costs incurred in other regions. Furthermore, medical tourism facilitators offer additional assistance for travel, accommodation, and cost comparison enabling customers to plan their medical trips overseas with ease. However, language and cultural barriers, concerns over quality and post-treatment care, lack of health insurance recognition, and potential medical errors pose challenges for the industry. Nevertheless, advancements in digital healthcare and teleconsultations are helping alleviate such issues. Overall, the global medical tourism market is expected to witness lucrative opportunities with growing health awareness and rising popularity of wellness travel worldwide.

Key Features of the Study:

This report provides an in-depth analysis of the global medical tourism market, and provides market size (US$ Bn) and compound annual growth rate (CAGR%) for the forecast period (2024-2031), considering 2023 as the base year.
It elucidates potential revenue growth opportunities across different segments and explains attractive investment proposition matrices for this market.
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approvals, market trends, regional outlook, and competitive strategies adopted by key players.
It profiles key players in the global medical tourism market based on the following parameters company highlights, products portfolio, key highlights, financial performance, and strategies.
Key companies covered as a part of this study include MOHW Hengchun Tourism Hospital, Apollo Hospitals Enterprise Ltd., Bumrungrad International Hospital, Mount Elizabeth Hospitals, Raffles Medical Group, Dr. B. L. Kapur Memorial Hospital, Kasemrad Hospital International Rattanathibet, Mission Hospital, Bangkok Hospital, Miot Hospital, Penang Adventist Hospital, Aditya Birla Memorial Hospital, Asian Heart Institute, Barbados Fertility Center, Fortis Healthcare Limited, KPJ Healthcare Berhad, NTT Medical Center Tokyo, and Prince Court Medical Centre.
Insights from this report would allow marketers and the management authorities of the companies to make informed decisions regarding their future product launches, type up-gradation, market expansion, and marketing tactics.
The global medical tourism market report caters to various stakeholders in this industry including investors, suppliers, product manufacturers, distributors, new entrants, and financial analysts.
Stakeholders would have ease in decision-making through various strategy matrices used in analyzing the global medical tourism market.

Market Segmentation

Service Provider:
- Public
- Private
Treatment Type:
- Orthopedic Treatment
- Cosmetic Treatment
- Bariatric Treatment
- Dental Treatment
- Ophthalmology Treatment
- Infertility Treatment
- Alternative Medicine
- Other Services
Regional:
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa
Company Profiles:
- MOHW Hengchun Tourism Hospital
- Apollo Hospitals Enterprise Ltd.
- Bumrungrad International Hospital
- Mount Elizabeth Hospitals
- Raffles Medical Group
- Dr. B. L. Kapur Memorial Hospital
- Kasemrad Hospital International Rattanathibet
- Mission Hospital
- Bangkok Hospital
- Miot Hospital
- Penang Adventist Hospital
- Aditya Birla Memorial Hospital
- Asian Heart Institute
- Barbados Fertility Center
- Fortis Healthcare Limited
- KPJ Healthcare Berhad
- NTT Medical Center Tokyo
- Prince Court Medical Centre

Product Code: CMI938

1. Research Objectives and Assumptions

Research Objectives
Assumptions
Abbreviations

2. Market Purview

Report Description
- Market Definition and Scope
Executive Summary
- Market Snippet, By Service Provider
- Market Snippet, By Treatment Type
- Market Snippet, By Region
Coherent Opportunity Map (COM)

3. Market Dynamics, Regulations, and Trends Analysis

Market Dynamics
- Drivers
- Restraints
PEST Analysis
PORTER's Five Forces Analysis
Market Opportunities
Regulatory Scenario
Key Developments
Industry Trend

4. Global Medical Tourism Market - Impact of Coronavirus (COVID-19) Pandemic

Overview
Factors Affecting the Global Medical Tourism Market - COVID-19
Impact Analysis

5. Global Medical Tourism Market, By Service Provider, 2019-2031 (US$ BN)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Public
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Private
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends

6. Global Medical Tourism Market, By Treatment Type, 2019-2031 (US$ BN)

Introduction
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Orthopedic Treatment
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Cosmetic Treatment
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Bariatric Treatment
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Dental Treatment
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Ophthalmology Treatment
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Infertility Treatment
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Alternative Medicine
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends
Other Services
- Market Share Analysis, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, 2019 - 2031
- Segment Trends

7. Global Medical Tourism Market, By Region, 2019-2031 (US$ BN)

Introduction
- Market Share Analysis, By Region, 2024, 2027, and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019 - 2031
North America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019 - 2031
- Market Size and Forecast, By Service Provider, 2019- 2031 (US$ BN)
- Market Size and Forecast, By Treatment Type, 2019- 2031 (US$ BN)
- Countries
  - U.S.
  - Canada
  - Latin America
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019 - 2031
- Market Size and Forecast, By Service Provider, 2019- 2031 (US$ BN)
- Market Size and Forecast, By Treatment Type, 2019- 2031 (US$ BN)
- Countries
  - Brazil
  - Argentina
  - Mexico
  - Rest of Latin America
  - Europe
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019 - 2031
- Market Size and Forecast, By Service Provider, 2019- 2031 (US$ BN)
- Market Size and Forecast, By Treatment Type, 2019- 2031 (US$ BN)
- Countries
  - U.K.
  - Germany
  - Italy
  - France
  - Spain
  - Russia
  - Rest of Europe
  - Asia Pacific
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Region, 2019 - 2031
- Market Size and Forecast, By Service Provider, 2019- 2031 (US$ BN)
- Market Size and Forecast, By Treatment Type, 2019- 2031 (US$ BN)
- Countries
  - China
  - India
  - Japan
  - ASEAN
  - Australia
  - South Korea
  - Rest of Asia Pacific
  - Middle East & Africa
- Market Share Analysis, By Country, 2024, 2027 and 2031 (%)
- Y-o-Y Growth Analysis, For Country, 2019 - 2031
- Market Size and Forecast, By Service Provider, 2019- 2031 (US$ BN)
- Market Size and Forecast, By Treatment Type, 2019- 2031 (US$ BN)
- Sub-regions/Countries
  - GCC Countries
  - Israel
  - Rest of Middle East & Africa

8. Competitive Landscape

Heat Map Analysis
Market Share Analysis (3x3 Matrix)
Company Profiles
- MOHW Hengchun Tourism Hospital
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Apollo Hospitals Enterprise Ltd.
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Bumrungrad International Hospital
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Mount Elizabeth Hospitals
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Raffles Medical Group
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Dr. B. L. Kapur Memorial Hospital
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Kasemrad Hospital International Rattanathibet
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Mission Hospital
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Bangkok Hospital
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Miot Hospital
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Penang Adventist Hospital
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Aditya Birla Memorial Hospital
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Asian Heart Institute
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Barbados Fertility Center
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Fortis Healthcare Limited
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- KPJ Healthcare Berhad
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- NTT Medical Center Tokyo
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates
- Prince Court Medical Centre
  - Company Overview
  - Service Provider Portfolio
  - Recent Developments/Updates

9. Analyst Recommendation

Wheel of Fortune
Analyst View
Coherent Opportunity Map

10. Section

References
Research Methodology
About Us and Sales Contact
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