Medical Tourism Market Share, Size, Trends, Industry Analysis Report By Treatment Type (Orthopedic Treatment, Cardiovascular Treatment, Neurological Treatment, Cosmetic Treatment, Dentistry Treatment, Other Treatments); By Regions, Segment Forecast, 2020

Medical Tourism Market Share, Size, Trends, Industry Analysis Report By Treatment Type (Orthopedic Treatment, Cardiovascular Treatment, Neurological Treatment, Cosmetic Treatment, Dentistry Treatment, Other Treatments); By Regions, Segment Forecast, 2020 - 2026

The global medical tourism market size is expected to reach USD 80.07 billion by 2032, according to a new study by Polaris Market Research. The report “Medical Tourism Market Share, Size, Trends, Industry Analysis Report, By Treatment Type (Cosmetic Treatment, Bariatric Treatment, Dental Treatment, Cardiovascular Treatment); By Service Provider; By Region; Segment Forecast, 2024 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Improved communication and transportation networks have revolutionized healthcare accessibility globally, allowing patients to seek medical treatments and specialized care across borders. This has been especially advantageous for the increasing geriatric population, leading to a notable rise in demand for such services. Medical tourism offers cost-saving opportunities and additional perks.

Many countries provide cutting-edge treatments, advanced medical equipment, and superior healthcare services at reduced costs compared to patients' home nations, coupled with personalized attention and top-notch hospitality, enhancing the overall medical tourism experience. Moreover, the escalating healthcare expenses in developed countries have spurred the growth of medical tourism, as patients often opt for procedures abroad due to a lack of insurance coverage or exorbitant costs domestically. This surge in demand for affordable medical treatments in countries offering more cost-effective options further propels the expansion of the global medical tourism market.

As access to affordable medical care in other countries increases, global medical tourism is experiencing rapid growth. The physical and mental distance between customers and healthcare providers presents challenges, leading customers to rely heavily on Internet resources for information. As a result, a number of new companies have appeared to assist travelers in choosing the finest international healthcare destinations for top-notch medical treatment and procedures.

These companies also facilitate medical travel arrangements, including accommodations and airfare. Doctors, an online travel and dental care booking platform based in Los Angeles, is a logistics supply chain regarding medical tourism. Patients can connect with doctors, compare operation costs, and schedule procedures such as plastic surgery, weight reduction surgery, dental work, in vitro fertilization, and Lasik eye surgery through the website. Other startups, such as BookDoc, partnered with established companies such as Agoda, Uber, TripAdvisor, and Grab to arrange accommodations. While there are currently multiple online startups focused on medical tourism, this number is expected to increase as the industry grows in importance.

Medical Tourism Market Report Highlights

The cosmetic segment dominated the market in 2023, driven by increasing patient awareness, a greater demand for anti-aging treatments, and the high cost of cosmetic implants in developed countries.

The private segment led the market in 2023 and is expected to maintain its dominance due to advancements in healthcare technologies and the availability of privately owned, internationally recognized, and accredited providers.

Asia Pacific holds a significant revenue share in the global Medical Tourism market, driven by cheaper medical care compared to private healthcare facilities in the United States.

The global key market players include MOHW Hengchun Tourism Hospital, Apollo Hospitals Enterprise Ltd., Bumrungrad International Hospital, Mount Elizabeth Hospitals, Raffles Medical Group, Dr. B. L. Kapur Memorial Hospital, Kasemrad Hospital International Rattanathibet, Mission Hospital, Bangkok Hospital, Miot Hospital and Penang Adventist Hospital.

Polaris Market Research has segmented the Medical Tourism market report based on treatment type, service provider, and region:

Medical Tourism, Treatment Type Outlook (Revenue - USD Billion, 2019 - 2032)

Cosmetic Treatment

Bariatric Treatment

Dental Treatment

Cardiovascular Treatment

Orthopedic Treatment

Ophthalmology Treatment

Infertility Treatment

Alternative Medicine

Others

Medical Tourism, Service Provider Outlook (Revenue - USD Billion, 2019 - 2032)

Private

Public

Medical Tourism, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

North America

U.S.

Canada

Europe

Germany

UK

France

Italy

Spain

Russia

Netherlands

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Indonesia

Malaysia

Australia

Rest of Asia Pacific

Latin America

Argentina

Brazil

Mexico

Rest of Latin America

Middle East & Africa

UAE

Saudi Arabia

Israel

South Africa

Rest of Middle East & Africa