Medical Tourism Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Medical Tourism Article
The Medical Tourism Market size worth USD 24.14 billion in 2023, is predicted to a consistent increase from USD 29.26 billion in 2024, and then amplify to USD 137.71 billion by 2032.Which lead to an annual growth rate of 21.4% on average from 2024 to 2032.
According to Medical Tourism Association (MTA), over 14.0 million people travel to other country for medical care annually. With the launch of advance medical device and non-invasive procedures contributed in increasing medical tourism market growth. High-income countries like U.S are actively participating in medical tourism by cost effective treatments. However annually Singapore receives 500000 medical tourists, in which half of them are from Indonesia.
The increasing awareness regarding health and personal care among people, fuelling the expansion medical tourism market share. According to data published by International Society of Aesthetic Plastic Surgery during period of COVID-19 lead to decrease in medical tourism, there was an increase of 11.2% in plastic surgeries in 2022. Due to advancement in healthcare regarding wearable, surgical equipments urged end users to adopt better healthcare facilities.
Additionally, this has increase medical tourism in developing countries. According to World Travel and Tourism Council, after U.S ,France, turkey and Belgium ,Thailand has ranked fifth in terms of inbound medical travels.
Comprehensive Analysis of Medical Tourism Market
The medical tourism market and healthcare industry is rising at an exponential rate due to its market segmentation. The market is segmented on the basis of services into cosmetic treatment, medical treatment and alternative treatment. According to data of December 2023 published by Ministry of Health, India recorded the increase from 183000 to 504000.
Moreover, the medical tourism market has been segmented in private as well as public services in 2023. Private sectors are dominating because of it advanced infrastructure, government support, technological advancement and care at affordable price. Thailand government is planning to improve healthcare in Phuket to attract more tourism by 2028. However, the public sectors are growing slowly because of it funding issues in some countries, such as Canada.
On the basis of region the market size in North America is reported as USD 6.23 billion in 2023. Education and Health related tourism in U.S, reported an increase of USD 4.20 billion (increase of 11% from previous year) ,in January 2023.Whereas short term workers in medical tourism and education made 29% of total U.S. travel and tourism exports.
Due to growing availability of medical infrastructure and facilities in some countries like Spain, the U.K, Mexico, France and Belgium, Europe is holding potential position in global medical tourism market. The Asia Pacific market is registered as higher CAGR during forecast period, whereas, Latin America has been reported as slow growing region. The Middle East and Africa with Dubai, Abu Dhabi and Turkey are popular for cosmetic and rejuvenation procedures. According to Dubai Health report, Dubai attracted 674,000 medical tourists, with 39% from Asian countries, 22% from Europe and 21% from Arab and Gulf in 2022.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Unit Value (USD billion)
Growth Rate CAGR of 21.4% from 2024-2032
Segmentation By Service
Medical Treatment
- Cardiac Procedures
- Oncology Procedures
- Orthopedic & Spine Procedures
- Dental Procedures
- Others
Cosmetic Treatment
- Cosmetic Procedures
- Rejuvenation Procedures
- Others
Alternative Treatment
By Service Provider
Public
Private
By Geography
North America (By Service, By Service Provider, and By Country)
- U.S. (By Service Provider)
- Canada (By Service Provider)
Europe (By Service, By Service Provider, and By Country)
- U.K. (By Service Provider)
- Germany (By Service Provider)
- France (By Service Provider)
- Italy (By Service Provider)
- Spain (By Service Provider)
- Scandinavia (By Service Provider)
- Rest of Europe (By Service Provider)
Asia Pacific (By Service, By Service Provider, and By Country)
- China (By Service Provider)
- Japan (By Service Provider)
- India (By Service Provider)
- Australia (By Service Provider)
- Southeast Asia (By Service Provider)
- Rest of Asia Pacific (By Service Provider)
Latin America (By Service, By Service Provider, and By Country)
- Brazil (By Service Provider)
- Mexico (By Service Provider)
- Rest of Latin America (By Service Provider)
Middle East & Africa (By Service, By Service Provider, and By Country)
- GCC (By Service Provider)
- South Africa (By Service Provider)
- Rest of Middle East & Africa (By Service Provider)
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- 1. Introduction
- 1.1. Research Scope
- 1.2. Market Segmentation
- 1.3. Research Methodology
- 1.4. Definitions and Assumptions
- 2. Executive Summary
- 3. Market Dynamics
- 3.1. Market Drivers
- 3.2. Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Trends
- 4. Key Insights
- 4.1. Overview of Number of Surgical Procedures, for Key Countries, 2022/2023
- 4.2. Regulatory Scenario in Key Countries
- 4.3. Key Industry Developments - Mergers, Acquisition, Etc.
- 4.4. Impact of COVID-19 on the Surgical Sutures Market
- 5. Global Surgical Sutures Market Analysis, Insights and Forecast, 2019-2032
- 5.1. Market Analysis, Insights and Forecast – By Product Type
- 5.1.1. Absorbable
- 5.1.2. Non-Absorbable
- 5.2. Market Analysis, Insights and Forecast – By Form
- 5.2.1. Natural
- 5.2.2. Synthetic
- 5.3. Market Analysis, Insights and Forecast – By Application
- 5.3.1. Gynecology
- 5.3.2. Cardiology
- 5.3.3. Orthopedics
- 5.3.4. General Surgery
- 5.3.5. Others
- 5.4. Market Analysis, Insights and Forecast – By End User
- 5.4.1. Hospitals & ASCs
- 5.4.2. Specialty Clinics
- 5.5. Market Analysis, Insights and Forecast – By Region
- 5.5.1. North America
- 5.5.2. Europe
- 5.5.3. Asia Pacific
- 5.5.4. Latin America
- 5.5.5. Middle East & Africa
- 6. North America Surgical Sutures Market Analysis, Insights and Forecast, 2019-2032
- 6.1. Market Analysis, Insights and Forecast – By Product Type
- 6.1.1. Absorbable
- 6.1.2. Non-Absorbable
- 6.2. Market Analysis, Insights and Forecast – By Form
- 6.2.1. Natural
- 6.2.2. Synthetic
- 6.3. Market Analysis, Insights and Forecast – By Application
- 6.3.1. Gynecology
- 6.3.2. Cardiology
- 6.3.3. Orthopedics
- 6.3.4. General Surgery
- 6.3.5. Others
- 6.4. Market Analysis, Insights and Forecast – By End User
- 6.4.1. Hospitals & ASCs
- 6.4.2. Specialty Clinics
- 6.5. Market Analysis, Insights and Forecast – By Country
- 6.5.1. U.S.
- 6.5.2. Canada
- 7. Europe Surgical Sutures Market Analysis, Insights and Forecast, 2019-2032
- 7.1. Market Analysis, Insights and Forecast – By Product Type
- 7.1.1. Absorbable
- 7.1.2. Non-Absorbable
- 7.2. Market Analysis, Insights and Forecast – By Form
- 7.2.1. Natural
- 7.2.2. Synthetic
- 7.3. Market Analysis, Insights and Forecast – By Application
- 7.3.1. Gynecology
- 7.3.2. Cardiology
- 7.3.3. Orthopedics
- 7.3.4. General Surgery
- 7.3.5. Others
- 7.4. Market Analysis, Insights and Forecast – By End User
- 7.4.1. Hospitals & ASCs
- 7.4.2. Specialty Clinics
- 7.5. Market Analysis, Insights and Forecast – By Country/ Sub-region
- 7.5.1. U.K
- 7.5.2. Germany
- 7.5.3. France
- 7.5.4. Italy
- 7.5.5. Spain
- 7.5.6. Scandinavia
- 7.5.7. Rest of Europe
- 8. Asia Pacific Surgical Sutures Market Analysis, Insights and Forecast, 2019-2032
- 8.1. Market Analysis, Insights and Forecast – By Product Type
- 8.1.1. Absorbable
- 8.1.2. Non-Absorbable
- 8.2. Market Analysis, Insights and Forecast – By Form
- 8.2.1. Natural
- 8.2.2. Synthetic
- 8.3. Market Analysis, Insights and Forecast – By Application
- 8.3.1. Gynecology
- 8.3.2. Cardiology
- 8.3.3. Orthopedics
- 8.3.4. General Surgery
- 8.3.5. Others
- 8.4. Market Analysis, Insights and Forecast – By End User
- 8.4.1. Hospitals & ASCs
- 8.4.2. Specialty Clinics
- 8.5. Market Analysis, Insights and Forecast – By Country/ Sub-region
- 8.5.1. Japan
- 8.5.2. China
- 8.5.3. India
- 8.5.4. Australia
- 8.5.5. Southeast Asia
- 8.5.6. Rest of Asia Pacific
- 9. Latin America Surgical Sutures Market Analysis, Insights and Forecast, 2019-2032
- 9.1. Market Analysis, Insights and Forecast – By Product Type
- 9.1.1. Absorbable
- 9.1.2. Non-Absorbable
- 9.2. Market Analysis, Insights and Forecast – By Form
- 9.2.1. Natural
- 9.2.2. Synthetic
- 9.3. Market Analysis, Insights and Forecast – By Application
- 9.3.1. Gynecology
- 9.3.2. Cardiology
- 9.3.3. Orthopedics
- 9.3.4. General Surgery
- 9.3.5. Others
- 9.4. Market Analysis, Insights and Forecast – By End User
- 9.4.1. Hospitals & ASCs
- 9.4.2. Specialty Clinics
- 9.5. Market Analysis, Insights and Forecast – By Country/Sub-region
- 9.5.1. Brazil
- 9.5.2. Mexico
- 9.5.3. Rest of Latin America
- 10. Middle East & Africa Surgical Sutures Market Analysis, Insights and Forecast, 2019-2032
- 10.1. Market Analysis, Insights and Forecast – By Product Type
- 10.1.1. Absorbable
- 10.1.2. Non-Absorbable
- 10.2. Market Analysis, Insights and Forecast – By Form
- 10.2.1. Natural
- 10.2.2. Synthetic
- 10.3. Market Analysis, Insights and Forecast – By Application
- 10.3.1. Gynecology
- 10.3.2. Cardiology
- 10.3.3. Orthopedics
- 10.3.4. General Surgery
- 10.3.5. Others
- 10.4. Market Analysis, Insights and Forecast – By End User
- 10.4.1. Hospitals & ASCs
- 10.4.2. Specialty Clinics
- 10.5. Market Analysis, Insights and Forecast – By Country/Sub-region
- 10.5.1. GCC
- 10.5.2. South Africa
- 10.5.3. Rest of Middle East & Africa
- 11. Competitive Analysis
- 11.1. Global Market Share Analysis (2023)
- 11.2. Company Profiles
- 11.2.1. B. Braun SE
- 11.2.1.1. Overview
- 11.2.1.2. Product
- 11.2.1.3. SWOT Analysis
- 11.2.1.4. Recent Developments
- 11.2.1.5. Strategies
- 11.2.1.6. financials (Based on Availability)
- 11.2.2. Johnson & Johnson Services, Inc.
- 11.2.2.1. Overview
- 11.2.2.2. Product
- 11.2.2.3. SWOT Analysis
- 11.2.2.4. Recent Developments
- 11.2.2.5. Strategies
- 11.2.2.6. financials (Based on Availability)
- 11.2.3. Smith + Nephew
- 11.2.3.1. Overview
- 11.2.3.2. Product
- 11.2.3.3. SWOT Analysis
- 11.2.3.4. Recent Developments
- 11.2.3.5. Strategies
- 11.2.3.6. financials (Based on Availability)
- 11.2.4. Medtronic
- 11.2.4.1. Overview
- 11.2.4.2. Product
- 11.2.4.3. SWOT Analysis
- 11.2.4.4. Recent Developments
- 11.2.4.5. Strategies
- 11.2.4.6. financials (Based on Availability)
- 11.2.5. Coloplast A/S
- 11.2.5.1. Overview
- 11.2.5.2. Product
- 11.2.5.3. SWOT Analysis
- 11.2.5.4. Recent Developments
- 11.2.5.5. Strategies
- 11.2.5.6. financials (Based on Availability)
- 11.2.6. Apollo Endosurgery, Inc.
- 11.2.6.1. Overview
- 11.2.6.2. Product
- 11.2.6.3. SWOT Analysis
- 11.2.6.4. Recent Developments
- 11.2.6.5. Strategies
- 11.2.6.6. financials (Based on Availability)
- 11.2.7. Boston Scientific Corporation
- 11.2.7.1. Overview
- 11.2.7.2. Product
- 11.2.7.3. SWOT Analysis
- 11.2.7.4. Recent Developments
- 11.2.7.5. Strategies
- 11.2.7.6. financials (Based on Availability)
- 11.2.8. DemeTECH Corporation
- 11.2.8.1. Overview
- 11.2.8.2. Product
- 11.2.8.3. SWOT Analysis
- 11.2.8.4. Recent Developments
- 11.2.8.5. Strategies
- 11.2.8.6. financials (Based on Availability)
- 11.2.9. TEPHA INC.
- 11.2.9.1. Overview
- 11.2.9.2. Product
- 11.2.9.3. SWOT Analysis
- 11.2.9.4. Recent Developments
- 11.2.9.5. Strategies
- 11.2.9.6. financials (Based on Availability)
- 11.2.10. Internacional Farmacéutica
- 11.2.10.1. Overview
- 11.2.10.2. Product
- 11.2.10.3. SWOT Analysis
- 11.2.10.4. Recent Developments
- 11.2.10.5. Strategies
- 11.2.10.6. financials (Based on Availability)
- 11.2.11. Kono Seisakusho Co., Ltd.
- 11.2.11.1. Overview
- 11.2.11.2. Product
- 11.2.11.3. SWOT Analysis
- 11.2.11.4. Recent Developments
- 11.2.11.5. Strategies
- 11.2.11.6. financials (Based on Availability)
- 11.2.12. CONMED Corporation
- 11.2.12.1. Overview
- 11.2.12.2. Product
- 11.2.12.3. SWOT Analysis
- 11.2.12.4. Recent Developments
- 11.2.12.5. Strategies
- 11.2.12.6. financials (Based on Availability)
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