Global Medical Tourism Market (2024 Edition): Analysis By Service Provider (Public, and Private), By Treatment Type, By Age Group, By Region, By Country: Market Insights and Forecast (2020-2030)

Global Medical Tourism Market (2024 Edition): Analysis By Service Provider (Public, and Private), By Treatment Type, By Age Group, By Region, By Country: Market Insights and Forecast (2020-2030)

Executive Summary

Azoth Analytics has released a research report titled “Global Medical Tourism Market (2024 Edition)” which provides a complete analysis of the Global Medical Tourism industry in terms of market segmentation By Service Provider (Public, and Private), By Treatment Type (Medical Treatment, Cosmetic Treatment, and Other Treatments), By Age Group (Senior Citizens (Above 60), Adults (21-60), and Minors (Below 21)) for the historical period of 2020-2023, the estimates of 2024 and the forecast period of 2025-2030.

The report analyses the Medical Tourism Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Mexico, Spain, United Kingdom, France, Germany, Singapore, India, and Japan). The Global Medical Tourism market showcased growth at a CAGR of 7.50% during 2020-2023. The market was valued at USD 47.67 Billion in 2023 which is expected to reach USD 112.03 Billion in 2030. Advancements in transportation have made international travel more accessible and affordable, allowing patients to seek medical care in countries offering specialized treatments or procedures not available in their home countries. Secondly, rising healthcare costs in developed nations have prompted individuals to explore alternative options for medical treatment, often opting for more cost-effective solutions overseas. Additionally, the globalization of healthcare standards and accreditation has increased confidence in medical facilities abroad, further driving the growth of medical tourism.

Moreover, the expansion of the internet and digital platforms has facilitated the dissemination of information about medical facilities, treatment options, and patient experiences, empowering individuals to make informed decisions about their healthcare choices. Furthermore, medical tourism has been supported by the growth of medical travel facilitators and agencies, which assist patients in coordinating travel logistics, arranging medical appointments, and navigating cultural and language barriers.

The growth of medical tourism is also attributed to the rise of destination countries investing in healthcare infrastructure and promoting their services to international patients. These countries often offer competitive pricing, high-quality medical care, and specialized treatments to attract medical tourists. Additionally, the integration of medical tourism with leisure and wellness activities has expanded the appeal of medical travel, allowing patients to combine medical treatments with vacation experiences.

Furthermore, the COVID-19 pandemic has reshaped the landscape of medical tourism, with increased emphasis on health and safety measures, telemedicine consultations, and medical travel insurance coverage. While the pandemic initially led to disruptions in travel and healthcare services, it has also accelerated the adoption of digital health technologies and remote healthcare delivery models, making medical tourism more resilient and adaptable to changing circumstances.

Scope of the Report:

The report analyses the Medical Tourism Market by Value (USD Billion).

The report presents the analysis of Medical Tourism Market for the historical period of 2020-2023, the estimated year 2024 and the forecast period of 2025-2030.

The report analyses the Medical Tourism Market by Region (Americas, Europe, Asia Pacific, Middle East & Africa) and 10 Countries (United States, Canada, Mexico, Spain, United Kingdom, France, Germany, Singapore, India, and Japan).

The report analyses the Medical Tourism Market By Service Provider (Public, and Private)

The report analyses the Medical Tourism Market By Treatment Type (Medical Treatment, Cosmetic Treatment, and Other Treatments).

The report analyses the Medical Tourism Market By Age Group (Senior Citizens (Above 60), Adults (21-60), and Minors (Below 21).

The key insights of the report have been presented through the frameworks of SWOT and Porter’s Five Forces Analysis. Also, the attractiveness of the market has been presented by region, By Service Providers, By Treatment Type & By Age Group.

Also, the major opportunities, trends, drivers, and challenges of the industry has been analyzed in the report.

The report tracks competitive developments, strategies, mergers and acquisitions and new product development. The companies analysed in the report are Bumrungrad International Hospital, Apollo Hospitals Enterprise Ltd., Bangkok General Hospital, Fortis Healthcare Limited, Wooridul Spine Hospital, Gleneagles Hospitals, Prince Court Medical Centre, Samitivej Hospitals, Anadolu Medical Center, and Raffles Medical Group.