ASEAN Medical and Wellness Tourism Market
ASEAN medical and wellness tourism market was valued at USD 51.5 billion in 2023 and is projected to grow at a CAGR of 12.7% from 2024 to 2032. This rapid growth is driven by key factors such as the affordability of healthcare services, the increasing number of internationally accredited hospitals, and rising disposable incomes in the region. Additionally, the surge in demand for wellness tourism has further fueled the market as travelers seek a combination of medical care and holistic wellness treatments. Countries in ASEAN, particularly Indonesia and Thailand, have gained recognition for offering unique wellness retreats that blend medical services with relaxation therapies like spa treatments, yoga, and alternative healing methods. The region’s proximity to major markets such as China, Australia, and the Middle East attracts medical tourists, making ASEAN a prime healthcare and wellness tourism destination. In addition, several ASEAN countries provide high-standard medical and wellness services at considerably lower prices than those in Western nations. This cost-efficacy, associated with the value provided by all-inclusive wellness packages, makes the region a highly attractive destination for wellness tourism, driving growth in this segment. The market is segmented into two main categories: wellness tourism and medical tourism. Wellness tourism dominated the market in 2023, generating USD 37 billion in revenue. This growth is largely due to the increasing awareness of health and well-being, as more people seek holistic health approaches that integrate medical treatments with wellness activities. The diverse wellness offerings, from traditional healing practices to modern holistic therapies, enhance its appeal to wellness-focused travelers. Thailand emerged as the leading player in the ASEAN medical and wellness tourism market, contributing USD 24.4 billion in revenue in 2023. Its growth trajectory is expected to continue at a CAGR of 13.3% from 2024 to 2032. Thailand has established itself as a global hub for medical tourists thanks to its advanced healthcare infrastructure, affordable medical services, and well-known wellness centers. The strong positioning in both medical procedures and wellness offerings has made it a sought-after destination for those seeking comprehensive healthcare and relaxation.
- Chapter 1 Methodology
- 1.1 Market segmentation
- 1.2 Market definitions
- 1.3 Research design
- 1.4 Market size estimates and calculations
- 1.4.1 Approach 1: Investor presentations
- 1.4.2 Approach 2: Top-down approach
- 1.4.3 Approach 3: Parent market analysis
- 1.4.4 Key trends for market estimates
- 1.5 Forecast model
- 1.6 Primary research & validation
- 1.6.1 Primary sources
- 1.6.2 Data mining sources
- 1.6.2.1 Paid sources
- 1.6.2.2 Public sources
- Chapter 2 Executive Summary
- 2.1 ASEAN market 360° synopsis, 2021- 2032 (USD Billion)
- 2.1.1 Business trends
- 2.1.2 Category trends
- 2.1.3 Country trends
- Chapter 3 ASEAN Medical and Wellness Tourism Industry Insights
- 3.1 Industry ecosystem analysis
- 3.2 Industry impact forces
- 3.2.1 Growth drivers
- 3.2.1.1 Low cost of medical treatment in developing countries
- 3.2.1.2 Growing compliance towards international standard for surgical procedures
- 3.2.1.4 Growing interest of people toward health and wellness
- 3.2.1.5 Rising government initiatives to promote wellness tourism
- 3.2.1.6 Growing preference for eco-friendly and sustainable wellness practices coupled with technology integration
- 3.2.2 Restraints
- 3.2.2.1 High cost of wellness programs
- 3.2.2.2 Long wait time for certain medical procedures
- 3.2.2.3 Issue with patient follow-up and post-surgery complications
- 3.2.2.4 Limited awareness and education for wellness tourism
- 3.3 Growth potential analysis
- 3.3.1 By Category
- 3.4 Technological landscape
- 3.5 Medical coverage scenario
- 3.6 Key market trends
- 3.7 Consumer insights
- 3.8 Number of wellness tourism trips and average spending in key ASEAN countries, 2023
- 3.9 Developments and initiatives by countries
- 3.9.1 Thailand
- 3.9.2 Vietnam
- 3.9.3 Malaysia
- 3.9.4 Indonesia
- 3.9.5 Philippines
- 3.10 Demographics of patients/tourists
- 3.11 GAP analysis
- 3.12 Porter's analysis
- 3.13 PESTEL analysis
- Chapter 4 Competitive Landscape
- 4.1 Introduction
- 4.2 Company matrix analysis
- 4.3 Competitive analysis of major market players
- 4.4 Competitive positioning matrix
- 4.5 Strategy dashboard
- Chapter 5 ASEAN Medical and Wellness Tourism Market, By Category
- 5.1 Medical tourism
- 5.1.1 Application
- 5.1.1.1 Cosmetic surgery
- 5.1.1.1.1 Hair transplant
- 5.1.1.1.2 Breast augmentation
- 5.1.1.1.3 Other cosmetic surgeries
- 5.1.1.2 Cardiovascular surgery
- 5.1.1.3 Orthopedic surgery
- 5.1.1.4 Oncology treatment
- 5.1.1.5 Dental surgery
- 5.1.1.6 Bariatric surgery
- 5.1.1.7 Fertility treatment
- 5.1.1.8 Other applications
- 5.2 Wellness tourism
- 5.2.1 Service
- 5.2.1.1 Wellness activities
- 5.2.1.2 Transport
- 5.2.1.3 Lodging
- 5.2.1.4 Other services
- 5.2.2 Travel type
- 5.2.3 Travel purpose
- Chapter 6 ASEAN Medical and Wellness Tourism Market, By Country
- 6.1 Thailand
- 6.2 Vietnam
- 6.3 Indonesia
- 6.4 Malaysia
- 6.5 Philippines
- 6.6 Singapore
- 6.7 Brunei
- 6.8 Laos 88
- 6.9 Cambodia
- Chapter 7 Company Profile
- 7.1 AEK Udon International Hospital
- 7.1.1 Global overview
- 7.1.2 Business overview
- 7.1.3 Financial data
- 7.1.4 Product landscape
- 7.1.5 SWOT analysis
- 7.2 Bumrungrad International Hospital
- 7.2.1 Global overview
- 7.2.2 Business overview
- 7.2.3 Financial data
- 7.2.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.2.4 Product landscape
- 7.2.5 Strategic outlook
- 7.2.6 SWOT analysis
- 7.3 COMO Hotels and Resorts
- 7.3.1 Global overview
- 7.3.2 Business overview
- 7.3.3 Financial data
- 7.3.4 Product landscape
- 7.3.5 Strategic outlook
- 7.3.6 SWOT analysis
- 7.4 Four Seasons Hotels Limited
- 7.4.1 Global overview
- 7.4.2 Business overview
- 7.4.3 Financial data
- 7.4.4 Product landscape
- 7.4.5 SWOT analysis
- 7.5 GoTo Gojek Tokopedia Tbk
- 7.5.1 Global overview
- 7.5.2 Business overview
- 7.5.3 Financial data
- 7.5.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.5.4 Product landscape
- 7.5.5 SWOT analysis
- 7.6 Grab Holdings Ltd.
- 7.6.1 Global overview
- 7.6.2 Business overview
- 7.6.3 Financial data
- 7.6.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.6.4 Product/Service landscape
- 7.6.5 Strategic outlook
- 7.6.6 SWOT analysis
- 7.7 Hilton Worldwide Holdings Inc.
- 7.7.1 Global overview
- 7.7.2 Business overview
- 7.7.3 Financial data
- 7.7.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.7.4 Product/Service landscape
- 7.7.5 Strategic outlook
- 7.7.6 SWOT analysis
- 7.8 IHH Healthcare
- 7.8.1 Global overview
- 7.8.2 Business overview
- 7.8.3 Financial data
- 7.8.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.8.4 Product/Service landscape
- 7.8.5 Strategic outlook
- 7.8.6 SWOT analysis
- 7.9 InterContinental Hotels Group
- 7.9.1 Global overview
- 7.9.2 Business overview
- 7.9.3 Financial data
- 7.9.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.9.4 Product/Service landscape
- 7.9.5 Strategic outlook
- 7.9.6 SWOT analysis
- 7.10 KPJ Healthcare Berhad
- 7.10.1 Global overview
- 7.10.2 Business overview
- 7.10.3 Financial data
- 7.10.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.10.4 Product/Service landscape
- 7.10.5 SWOT analysis
- 7.11 Mahkota Medical Centre
- 7.11.1 Global overview
- 7.11.2 Business overview
- 7.11.3 Financial data
- 7.11.4 Product/Service landscape
- 7.11.5 SWOT analysis
- 7.12 Makati Medical Center
- 7.12.1 Global overview
- 7.12.2 Business overview
- 7.12.3 Financial data
- 7.12.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.12.4 Product/Service landscape
- 7.12.5 Strategic outlook
- 7.12.6 SWOT analysis
- 7.13 Marriot International
- 7.13.1 Global overview
- 7.13.2 Business overview
- 7.13.3 Financial data
- 7.13.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.13.4 Product/Service landscape
- 7.13.5 SWOT analysis
- 7.14 Institut Jantung Negara (National Heart Institute)
- 7.14.1 Global overview
- 7.14.2 Business overview
- 7.14.3 Financial data
- 7.14.4 Product/Service landscape
- 7.14.5 SWOT analysis
- 7.15 Penang Adventist Hospital
- 7.15.1 Global overview
- 7.15.2 Business overview
- 7.15.3 Financial data
- 7.15.4 Product/Service landscape
- 7.15.5 Strategic outlook
- 7.15.6 SWOT analysis
- 7.16 Radisson Hotel Group
- 7.16.1 Global overview
- 7.16.2 Business overview
- 7.16.3 Financial data
- 7.16.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.16.4 Product/Service landscape
- 7.16.5 SWOT analysis
- 7.17 Raffles Medical Group
- 7.17.1 Global overview
- 7.17.2 Business overview
- 7.17.3 Financial data
- 7.17.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.17.4 Product/Service landscape
- 7.17.5 SWOT analysis
- 7.18 Rosewood Hotel Group
- 7.18.1 Global overview
- 7.18.2 Business overview
- 7.18.3 Financial data
- 7.18.4 Product landscape
- 7.18.5 Strategic outlook
- 7.18.6 SWOT analysis
- 7.19 SingHealth Group
- 7.19.1 Global overview
- 7.19.2 Business overview
- 7.19.3 Financial data
- 7.19.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.19.4 Product/Service landscape
- 7.19.5 SWOT analysis
- 7.20 St. Luke's Medical Center
- 7.20.1 Global overview
- 7.20.2 Business overview
- 7.20.3 Financial data
- 7.20.4 Product landscape
- 7.20.5 Strategic outlook
- 7.20.6 SWOT analysis
- 7.21 Sunway Group
- 7.21.1 Global overview
- 7.21.2 Business overview
- 7.21.3 Financial data
- 7.21.3.1 Annual sales revenue, 2020-2023 (USD Million)
- 7.21.4 Product/Service landscape
- 7.21.5 Strategic outlook
- 7.21.6 SWOT analysis
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