Global Medical Tourism Market - 2025-2033

The global medical tourism market reached US$ 47.09 billion in 2024 and is expected to reach US$ 230.35 billion by 2033, growing at a CAGR of 19.4% during the forecast period 2025-2033.

Medical tourism refers to traveling to another country or region to seek medical treatment, often because it offers more affordable, higher-quality or specialized care than what is available in the traveler's home country. It encompasses various healthcare services, including elective procedures, dental, cosmetic surgeries, fertility treatments and more complex surgeries or medical interventions. Overall, medical tourism is a growing industry fueled by the desire for affordable, high-quality healthcare and the convenience of combining treatment with travel. However, patients must conduct thorough research regarding destination countries, healthcare providers and any associated risks before pursuing medical tourism.

The medical tourism market has seen rapid growth over the past few decades, driven by a combination of factors including rising healthcare costs in developed countries, advancements in medical technology, globalization, and the increasing affordability of travel. For instance, around 14 million people travel abroad each year to receive medical treatment, according to the Medical Tourism Association, with patients from developed nations such as the UK and the US typically traveling to less-developed countries to access health services at a significantly lower cost than they could at home.

Market Dynamics: Drivers & Restraints

Rising awareness about the low cost of medical procedures

The rising awareness about the low cost of medical procedures is significantly driving the growth of the medical tourism market and is expected to drive the market over the forecast period. The primary motivation for medical tourism is the substantial cost savings that patients can achieve by seeking medical treatment in other countries with better patient outcomes. This further initiated more for better and more affordable treatments for the patients.

For instance, in August 2022, the Union Health Ministry launched a new initiative, heal in India and heal by India, a new portal announced by the prime minister. The new portal aims to give impetus to medical tourism. Developed under the Ayushman Bharat Digital Mission, the portal will have a repository of healthcare professionals and hospital services to help overseas patients seeking medical help in India at an affordable cost.

Rising awareness about the low cost of medical procedures accelerates the medical tourism market demand, which increases the number of medical tourists for various procedures. For instance, according to Lively, Inc., a coronary bypass averages around $10,000 in India and $40,000 in Mexico (not including travel to and from the destination, or in-country recovery after release from the hospital) and $123,000 the average procedure costs in America.

According to DentaVacation, in Hungary, dentist prices are 40-70% less than in the UK and other Western European countries. Procedures like all 4 dental implants in Hungary cost $5,200 per arch, while the same costs $15,000 in the UK. We can get porcelain veneers in Hungary at $405, whereas in the UK, they'll cost a whopping $1,100.

Additionally, according to the Global Healthcare Accreditation, Mexico ranked third in the medical tourism industry, with a score of 70.05. Mexico has a growing medical tourism industry, with high-quality medical facilities and affordable medical costs. A leader in cosmetic surgery and cancer treatment. The Ministry of Health and Welfare (MOHW, Minister Cho KyooHong) announced that 606,000 foreign patients visited Korea in 2023, achieving a 2.4 times growth (144.2%) from 248,000 in 2022. These low cost procedures awareness boosts the market demand.

Medical traveling is a time-consuming process and is associated with some additional costs

Although medical tourism has been growing rapidly, it does come with certain challenges that can hamper its expansion, one of the primary concerns being that medical traveling is a time-consuming process and can incur additional costs. These factors can deter potential patients from opting for treatment abroad. Traveling abroad for medical treatment involves more than just booking a flight. It typically requires a lengthy planning process that includes obtaining visas, researching medical providers, scheduling consultations and ensuring appropriate aftercare. This can be a significant barrier for patients with limited time or those needing urgent care.

While the medical procedure itself may be much more affordable abroad, additional travel-related costs can accumulate. These include airfares, accommodation, transport and often extra costs for post-treatment care or extended stays in the destination country. This can reduce the overall cost-effectiveness of medical tourism for some patients. For instance, a medical tourism package for cosmetic surgery in Mexico may cost between $3,000 to $5,000 for the surgery, but the total cost (including flights, accommodation, and post-operative care) can easily reach $6,000 to $8,000, making it less affordable than anticipated.

Segment Analysis

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

Treatment:

The medical treatment segment is expected to dominate the medical tourism market share

The medical treatment segment is the dominant segment in the medical tourism market, contributing significantly to its growth. This segment includes a wide range of medical services such as surgeries, dental procedures, fertility treatments and cosmetic surgery, all of which are key drivers of medical tourism.

For instance, according to the Global Healthcare Accreditation, the data (pre-pandemic levels), the below countries have statistics and data available for medical tourism. Some countries showcase inbound and other outbound data with the average number of patients and primary types of medical procedures sought as follows:

Surgical treatments, both elective and non-elective, make up a substantial part of the medical tourism market. High-demand surgeries like orthopedic surgeries, cardiac surgeries, cosmetic surgeries and spinal surgeries drive many patients to seek affordable and high-quality care abroad. Cosmetic surgery is one of the fastest-growing sectors within medical tourism. Procedures such as breast augmentation, liposuction, facelifts, bariatric surgery and dental implants draw a large number of international patients seeking quality and affordability abroad.

Geographical Analysis

Asia-Pacific is expected to hold a significant position in the medical tourism market share

The Asia-Pacific region is undeniably the dominant region in the medical tourism market, attracting millions of international patients each year due to its high-quality healthcare services, cost-effectiveness and well-established medical infrastructure. The dominance of the APAC region in medical tourism is driven by several factors, including the affordability of treatments, the availability of world-class healthcare facilities and the expertise of medical professionals.

For instance, India is experiencing a surge in medical tourism, with a significant increase in medical tourists from Myanmar, Bangladesh and Nepal. Despite being impacted by the coronavirus pandemic, India is becoming a popular destination for ‘medical value travel’, and its potential in this sector is expected to grow further. In 2024, India is expected to cater to around 7.3 million medical tourists, up from an estimated 6.1 million in 2023, according to credit rating agency Crisil.

Additionally, Thailand has become a world-renowned leader in medical tourism, attracting visitors worldwide with strong support from Thailand’s Medical Tourism Association and the Thai government. According to the MedPark Hospital, in 2023, Thailand's medical tourism industry is expected to be worth $6 billion, with an estimated 3 million medical tourists receiving exceptional medical treatment and rehabilitation programs for a variety of medical fields.

The APAC region is home to many internationally accredited hospitals and healthcare facilities that provide high standards of medical care. Countries like Singapore, India, Thailand and South Korea have developed reputations for excellent healthcare infrastructure, attracting patients from across the globe. For instance, India is home to top-tier hospitals like Apollo Hospitals, Fortis Healthcare and Max Healthcare, which provide high-quality care for a wide range of medical procedures. Many of these hospitals have been accredited by global standards such as JCI, ensuring international patients receive the best care.

Competitive Landscape

The major global players in the medical tourism market include Raffles Medical Group, Medobal, Bookimed, RealSelf, Inc., KPJ Healthcare Berhad, Japan Dream Tour Co., Ltd., JTB Corp., SilaMed e.K., Medibliss Tours Limited, American Medical Care and among others.

Why Purchase the Report?
• Pipeline & Innovations: Reviews ongoing clinical trials, product pipelines, and forecasts upcoming advancements in medical devices and pharmaceuticals.
• Product Performance & Market Positioning: Analyzes product performance, market positioning, and growth potential to optimize strategies.
• Real-World Evidence: Integrates patient feedback and data into product development for improved outcomes.
• Physician Preferences & Health System Impact: Examines healthcare provider behaviors and the impact of health system mergers on adoption strategies.
• Market Updates & Industry Changes: Covers recent regulatory changes, new policies, and emerging technologies.
• Competitive Strategies: Analyzes competitor strategies, market share, and emerging players.
• Pricing & Market Access: Reviews pricing models, reimbursement trends, and market access strategies.
• Market Entry & Expansion: Identifies optimal strategies for entering new markets and partnerships.
• Regional Growth & Investment: Highlights high-growth regions and investment opportunities.
• Supply Chain Optimization: Assesses supply chain risks and distribution strategies for efficient product delivery.
• Sustainability & Regulatory Impact: Focuses on eco-friendly practices and evolving regulations in healthcare.
• Post-market Surveillance: Uses post-market data to enhance product safety and access.
• Pharmacoeconomics & Value-Based Pricing: Analyzes the shift to value-based pricing and data-driven decision-making in R&D.

The global medical tourism market report delivers a detailed analysis with 54 key tables, more than 41 visually impactful figures and 156 pages of expert insights, providing a complete view of the market landscape.

Target Audience 2024
• Manufacturers: Pharmaceutical, Medical Device, Biotech Companies, Contract Manufacturers, Distributors, Hospitals.
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