PUBLISHER: Global Insight Services | PRODUCT CODE: 1598627
PUBLISHER: Global Insight Services | PRODUCT CODE: 1598627
The medical tourism market is anticipated to expand from $115.6 billion in 2023 to $346.1 billion by 2033, with a CAGR of 11.8%, reflecting robust growth.
The medical tourism market encompasses the global industry where individuals travel across international borders to obtain medical care, ranging from elective procedures to complex surgeries. This market is driven by cost-effectiveness, quality healthcare services, reduced waiting times, and the availability of specialized treatments not accessible in the patient's home country. It includes hospitals, clinics, travel agencies, and facilitators, contributing to global healthcare accessibility and economic growth in destination countries.
The medical tourism market is witnessing robust expansion, driven by increased global healthcare access and cost-effective treatment options. Cosmetic surgery and dental procedures are leading the charge, with patients seeking high-quality, affordable care abroad. Orthopedic surgery is the second-highest performing sub-segment, as aging populations require joint replacements and advanced treatments. The Asia-Pacific region dominates, with countries like Thailand, India, and Malaysia offering world-class medical facilities and competitive pricing. Latin America, particularly Mexico and Brazil, is emerging as a strong contender, attracting North American patients with proximity and cultural familiarity. The Middle East, with its high-end healthcare infrastructure, is also gaining traction, appealing to affluent medical tourists. Technological advancements and international collaborations are enhancing service quality and patient safety, further fueling market growth. As healthcare costs rise in developed nations, medical tourism is poised to become an increasingly attractive option for patients worldwide, offering lucrative opportunities for stakeholders.
Key Companies
Apollo Hospitals Enterprise, Bumrungrad International Hospital, Bangkok Hospital, Fortis Healthcare, KPJ Healthcare, Raffles Medical Group, Prince Court Medical Centre, Gleneagles Hospital, Mount Elizabeth Hospital, Wockhardt Hospitals, Seoul National University Hospital, Samitivej Hospital, Mediclinic International, Acibadem Healthcare Group, IHH Healthcare, Anadolu Medical Center, Clemenceau Medical Center, Medicana International Istanbul, Vejthani Hospital, Yashoda Hospitals, Med Voyage International, Health Link Travel, Wellness Abroad, Care Quest Global, Medi Pathway, Cure Cross, Global Health Partners, Vita Medica Journeys, Health Bridge Travel, Med Excellence, Well Care Travel, Bio Tourism Solutions, Transcend Health, Med Journeys International, Health Pioneer Travel, Cura World, Medi Globe Travels, Wellness Way, Care Connect International, Med Venture Hub
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