Global Outbound Medical Tourism Services Market 2024-2031

Global Outbound Medical Tourism Services Market Size, Share & Trends Analysis Report by Treatment Type (Cosmetic Surgery, Dental Treatment, Orthopedic Surgery, Cardiovascular Surgery, Fertility Treatments, Bariatric Surgery, and Oncology Treatments, Cosmetic Surgery), by Service Type (Pre-Treatment Services, Post-Treatment Services, and Travel Services), and by Service Providers (Medical Tourism Agencies, Online Medical Tourism Platforms, and Medical Insurance Providers) Forecast Period (2024-2031)

The outbound medical tourism services market is anticipated to grow at a CAGR of 13.6% during the forecast period (2024-2031). Outbound medical tourism involves traveling from one's native country to another country for medical treatment. This sector broadly includes two services, namely, traveling services and treatment services. The market for outbound medical tourism services is projected to grow significantly owing to factors such as increasing trends for international treatments, preference for low-cost treatments in non-native countries, and the growth of medical tourism facilitators. These trends are supported by the easing of regulatory barriers in international treatments, improved global connectivity, and increasing awareness of the diverse options available internationally.

Market Dynamics

Rising Trend for International Treatments

The demand for outbound medical tourism services is driven by the increasing global trend of seeking treatment in international countries. This trend is supported by several factors, including low-cost treatment, access to advanced healthcare services, growing luxury medical tourism, and streamlined regulatory procedures. These trends are expected to continue to grow in the forecast period as various developing regions are investing in healthcare infrastructure to position themselves as international medical hubs, which will help their economies. For instance, according to the Indian Tourism Statistics 2023, India welcomed a total of 643,746 medical tourists in 2022. The distribution of these tourists by region included significant proportions from South Asia (53.0%), Southeast Asia (45.4%), and East Asia (19.4%). Bangladesh was the leading source country, accounting for 25.6% of the total tourist arrivals in India. The spending by medical tourists significantly contributed to the overall foreign exchange earnings, amounting to $17.6 billion for the entire tourism sector in 2022.

Growth in Outbound Medical Tourism Facilitators

The growth of outbound medical tourism is driven by the rise of intermediaries or agencies that simplify the process of traveling abroad for medical care. These organizations make international medical trips easier for patients by offering a range of services, including travel planning, doctor consultations, cost comparisons, and destination selection. They also provide online support through applications and websites, making it even more convenient to manage every aspect of the trip from the comfort of home. By handling these details, these agencies ease the burden on patients and ensure a smoother, hassle-free experience, encouraging more people to consider international destinations for their medical treatments. For instance, in June 2024, Health Tourism Abroad officially launched its new platform, aiming to provide top-notch medical and healthcare services coupled with premium tourism experiences. The company, led by industry veterans UA Mughal, AJ Gakhar, and MU Butt, is dedicated to becoming the leading facilitator for patients seeking high-quality and affordable medical care globally.

Segmental Outlook

• Based on treatment type, the market is segmented into cosmetic surgery, dental treatment, orthopedic surgery, cardiovascular surgery, fertility treatments, bariatric surgery, and oncology treatments
• Based on service type, the market is segmented into pre-treatment services, post-treatment services, and travel services
• Based on service providers, the market is segmented into medical tourism agencies, online medical tourism platforms, and medical insurance providers

Dental Treatments & Cosmetic Surgery is the Preferred Treatment Type

Dental treatments and cosmetic surgery are among the most preferred types of outbound medical tourism treatments owing to several key factors, including significantly lower outbound treatment costs compared to many native countries, the development of specific country infrastructure that deals with the surgery type, such as in Turkey and Thailand, which are prominent locations for cosmetic surgeries, and high standards of care and modern facilities in destination countries that further drive their popularity.

Medical Tourism Agencies are the Biggest Service Providers

Medical tourism agencies dominate the outbound medical tourism market owing to their comprehensive service offerings, including travel arrangements, medical consultations, and post-treatment care. Their expertise in coordinating with international healthcare providers ensures a seamless experience for patients seeking high-quality and affordable treatments abroad. The segmental growth factors include the rising demand for cost-effective healthcare, advancements in global medical standards, increasing awareness of international treatment options, and consumer preference to outsource treatment planning in international countries.

Regional Outlook

The global outbound medical tourism services market is further segmented based on geography including North America (the US, and Canada), Europe (the UK, Italy, Spain, Germany, France, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, and Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

North America is projected to dominate the Global Outbound Medical Tourism Services Market

North America is expected to experience the highest growth rate in the future. This is owing to the higher cost of treatments for various surgeries and the availability of advanced healthcare infrastructure for complex treatments such as cancer, which attracts non-native patients to visit the region. Additionally, gaps in insurance offerings and supportive government policies for international medical tourist visits are driving regional growth. For instance, in recent years, medical tourism has seen significant growth among North American patients, particularly those from the US, Canada, and Mexico. In 2019, approximately 1.9 million Americans traveled abroad for medical treatments, motivated by factors such as cost savings and access to specialized procedures. Similarly, Canada saw around 900,000 patients seeking healthcare services overseas in the same year. Mexico has emerged as a major destination within North America, attracting an increasing number of medical tourists, particularly from the US, due to its proximity and affordable healthcare options.

Asia-Pacific is the Fastest Growing in Outbound Medical Tourism Services Market

• Asia-Pacific countries such as India, Malaysia, Thailand, and Singapore offer high-quality medical services at significantly lower costs compared to Western countries, making them attractive to patients seeking affordable care.
• Increasing disposable income and a growing middle class in Asia-Pacific are fueling demand for medical services abroad, as individuals seek better healthcare alternatives.

Market Players Outlook

The major companies serving the global outbound medical tourism services market include Apollo International, KPJ Healthcare Berhad, and NTT East Corp., among others. The market players are focusing on capitalizing on growth by adopting strategies such as collaboration, partnerships, and market expansion among others.