The Medical Tourism Market size was valued at USD 12.16 billion in 2023 and is expected to reach at USD 74.37 billion by 2031 and grow at a CAGR of 25.40% over the forecast period of 2024-2031.
Travelling to another country for medical care or healthcare services is referred to as medical tourism. The chance to combine medical procedures with travel and leisure as well as financial savings, access to specialized treatments, shorter waiting periods, and other factors all influence why people choose medical tourism. People can seek medical procedures, treatments, or surgeries through medical tourism that may not be easily accessible or reasonably priced in their native country. This can involve, among other things, cosmetic surgery, dental work, fertility treatments, organ transplants, and heart operations. Saving money is one of the main factors that influence people to choose medical tourism. In comparison to developed countries, many developing countries offer healthcare at much reduced prices. When selecting a medical tourism destination, it is crucial to take the quality of care into account even though cost reductions may be a big issue. Hospitals and clinics that satisfy international healthcare standards are frequently found in well-known medical tourism locations. Before making a choice, it is essential to research the credentials, standing, and success rates of healthcare professionals. By combining medical care with travel, medical tourism enables patients to see the world while receiving medical attention. Some medical tourism packages could offer help with booking flights, lodging, and local transportation. It's crucial to schedule healing time and make sure that the right accommodations are accessible.
Drivers:
The lack of access to the latest technology for the people living in the undeveloped region.
Certain medical procedures or treatments might occasionally not be accessible or available in the patient's native country for a variety of causes, such as a deficient healthcare infrastructure, protracted wait times, or legislative limitations. People have the chance to get specialized treatments or procedures that might not be offered locally through medical tourism.
Restrain:
The high cost and the expense related to the medical tourism.
Opportunity:
The rising demand for the alternative treatment across the globe.
Patients can choose from a wider variety of treatments thanks to medical tourism. People can gain access to treatments that may not be available or authorized in their native country, such as specialized therapies, cutting-edge surgeries, or experimental therapies. Patients can investigate different treatment options and potentially get better medical results because to the increased access to healthcare.
Challenge:
The cultural and social barriers associated with the medical tourism.
In medical tourism, communication can be a big problem. When trying to grasp treatment alternatives, instructions from doctors, or post-operative care, patients could run into language hurdles. The experience and expectations of the patient may be impacted by cultural variations. For accurate comprehension and a great patient experience, good communication and cultural awareness are essential for patients and healthcare professionals.
Destinations for medical tourism in the area may change as a result of the conflict. Patients who had previously considered receiving medical treatment in Russia or the Ukraine may now choose a different nation with safer medical practices and more stable political conditions. Healthcare services, infrastructure, and the operation of medical facilities in the affected areas may all be affected by the war. Due to the fighting, hospitals and clinics can encounter a scarcity of medical supplies, equipment, and healthcare personnel. Medical tourism may become less appealing as a result of a decline in the quantity and quality of healthcare treatments.
Impact of Recession:
People could have financial hardships during a recession and put off non-essential medical care in favor of critical costs. People may decide to delay or forego non-essential medical operations as a result, which could result in a decline in the market for medical tourism. Individuals' disposable income is frequently lowered during recessions. People could be less likely to devote their few resources to medical tourism because it often entails additional expenses like travel, lodging, and post-operative care.
By Treatment Type
Cardiovascular Treatment
Orthopedic Treatment
Cosmetic Treatment
Bariatric Treatment
Dental Treatment
Ophthalmology Treatment
Infertility Treatment
Alternative Medicine
Other Services
By Service Provider
Public
Private
The choices for medical travel are varied in the North Americas. Despite its increased expense, the United States is a favorite destination for patients looking for advanced medical technology and specialized therapies. Affordable healthcare is well-known in Mexico and Costa Rica, especially for aesthetic and dental surgeries.
Europe is renowned for its cutting-edge healthcare systems, highly skilled medical staff, and strict regulatory norms. Popular nations with a reputation for being experts in specialized treatments like orthopedics, cardiology, and oncology include Germany, Switzerland, and the United Kingdom. Poland and other Eastern European nations like Hungary provide affordable treatments.
APAC is the region with the highest CAGR growth rate because of the developed healthcare infrastructure, highly qualified medical staff, and affordable treatments, Asia is a favorite destination for medical tourists.
The major key players are Apollo hospitals, Fortis Healthcare, Asian heart Institute, KPJ Healthcare Berhad, Livonta Global, Gleneagles hospitals and others.
| Report Attributes | Details |
| Market Size in 2023 | US$ 12.16 Bn |
| Market Size by 2031 | US$ 74.37 Bn |
| CAGR | CAGR of 25.40% From 2024 to 2031 |
| Base Year | 2023 |
| Forecast Period | 2024-2031 |
| Historical Data | 2020-2022 |
| Report Scope & Coverage | Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook |
| Key Segments | •By Treatment Type ( Cardiovascular Treatment, Orthopedic Treatment, Cosmetic Treatment, Bariatric Treatment, Dental Treatment, Ophthalmology Treatment, Infertility Treatment, Alternative Medicine, Other Services) •By Service Provider (Public, Private) |
| Regional Analysis/Coverage | North America (USA, Canada, Mexico), Europe (Germany, UK, France, Italy, Spain, Netherlands, Rest of Europe), Asia-Pacific (Japan, South Korea, China, India, Australia, Rest of Asia-Pacific), The Middle East & Africa (Israel, UAE, South Africa, Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America) |
| Company Profiles | Apollo hospitals, Fortis Healthcare, Asian heart Institute, KPJ Healthcare Berhad, Livonta Global, Gleneagles hospitals and others |
| Key Drivers | • The lack of access to the latest technology for the people living in the undeveloped region. |
| Market Opportunities | • The rising demand for the alternative treatment across the globe. |
Ans : The Medical Tourism Market size was valued at USD 9.7 billion in 2022 and is expected to reach at USD 58.56 billion by 2030, and grow at a CAGR of 25.2% over the forecast period of 2023-2030.
Ans: The major key players are Apollo hospitals, Fortis Healthcare, Asian heart Institute, KPJ Healthcare Berhad, Livonta Global, Gleneagles hospitals and others.
Ans : The lack of access to the latest technology for the people living in the undeveloped region.
Ans : People could have financial hardships during a recession and put off non-essential medical care in favor of critical costs
Ans : North America region.
Table of Contents
1. Introduction
1.1 Market Definition
1.2 Scope
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
3.1 Drivers
3.2 Restraints
3.3 Opportunities
3.4 Challenges
4. Impact Analysis
4.1 impact of Russia Ukraine War
4.2 Impact of ongoing Recession
4.2.1 Introduction
4.2.2 Impact on major economies
4.2.2.1 US
4.2.2.2 Canada
4.2.2.3 Germany
4.2.2.4 France
4.2.2.5 United Kingdom
4.2.2.6 China
4.2.2.7 Japan
4.2.2.8 South Korea
4.2.2.9 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Medical Tourism Segmentation, By Treatment Type
8.1 Cardiovascular Treatment
8.2 Orthopedic Treatment
8.3 Cosmetic Treatment
8.4 Bariatric Treatment
8.5 Dental Treatment
8.6 Ophthalmology Treatment
8.7 Infertility Treatment
8.8 Alternative Medicine
8.9 Other Services
9. Medical Tourism Segmentation, by Service Provider
9.1 Public
9.2 Private
10. Regional Analysis
10.1 Introduction
10.2 North America
10.2.1 North America Medical Tourism by country
10.2.2North America Medical Tourism by Treatment Type
10.2.3 North America Medical Tourism by Service Provider
10.2.4 USA
10.2.4.1 USA Medical Tourism by Treatment Type
10.2.4.2 USA Medical Tourism by Service Provider
10.2.5 Canada
10.2.5.1 Canada Medical Tourism by Treatment Type
10.2.5.2 Canada Medical Tourism by Service Provider
10.2.6 Mexico
10.2.6.1 Mexico Medical Tourism by Treatment Type
10.2.6.2 Mexico Medical Tourism by Service Provider
10.3 Europe
10.3.1 Europe Medical Tourism by country
1.3.3.2 Europe Medical Tourism by Treatment Type
10.3.3 Europe Medical Tourism by Service Provider
10.3.4 Germany
10.3.4.1 Germany Medical Tourism by Treatment Type
10.3.4.2 Germany Medical Tourism by Service Provider
10.3.5 UK
10.3.5.1 UK Medical Tourism by Treatment Type
10.3.5.2 UK Medical Tourism by Service Provider
10.3.6 France
10.3.6.1 France Medical Tourism by Treatment Type
10.3.6.2 France Medical Tourism by Service Provider
10.3.7 Italy
10.3.7.1 Italy Medical Tourism by Treatment Type
10.3.7.2 Italy Medical Tourism by Service Provider
10.3.8 Spain
10.3.8.1 Spain Medical Tourism by Treatment Type
10.3.8.2 Spain Medical Tourism by Service Provider
10.3.9 The Netherlands
10.3.9.1 Netherlands Medical Tourism by Treatment Type
10.3.9.2 Netherlands Medical Tourism by Service Provider
10.3.10 Rest of Europe
10.3.10.1 Rest of Europe Medical Tourism by Treatment Type
10.3.10.2 Rest of Europe Medical Tourism by Service Provider
10.4 Asia-Pacific
10.4.1 Asia Pacific Medical Tourism by country
10.4.2 Asia Pacific Medical Tourism by Treatment Type
10.4.3 Asia Pacific Medical Tourism by Service Provider
10.4.4 Japan
10.4.4.1 Japan Medical Tourism by Treatment Type
10.4.4.2 Japan Medical Tourism by Service Provider
10.4.5 South Korea
10.4.5.1 South Korea Medical Tourism by Treatment Type
10.4.5.2 South Korea Medical Tourism by Service Provider
10.4.6 China
10.4.6.1 China Medical Tourism by Treatment Type
10.4.6.2 China Medical Tourism by Service Provider
10.4.7 India
10.4.7.1 India Medical Tourism by Treatment Type
10.4.7.2 India Medical Tourism by Service Provider
10.4.8 Australia
10.4.8.1 Australia Medical Tourism by Treatment Type
10.4.8.2 Australia Medical Tourism by Service Provider
10.4.9 Rest of Asia-Pacific
10.4.9.1 APAC Medical Tourism by Treatment Type
10.4.9.2 APAC Medical Tourism by Service Provider
10.5 The Middle East & Africa
10.5.1 The Middle East & Africa Medical Tourism by country
10.5.2 The Middle East & Africa Medical Tourism by Treatment Type
10.5.3 The Middle East & Africa Medical Tourism by Service Provider
10.5.4 Israel
10.5.4.1 Israel Medical Tourism by Treatment Type
10.5.4.2 Israel Medical Tourism by Service Provider
10.5.5 UAE
10.5.5.1 UAE Medical Tourism by Treatment Type
10.5.5.2 UAE Medical Tourism by Service Provider
10.5.6 South Africa
10.5.6.1 South Africa Medical Tourism by Treatment Type
10.5.6.2 South Africa Medical Tourism by Service Provider
10.5.7 Rest of Middle East & Africa
10.5.7.1 Rest of Middle East & Asia Medical Tourism by Treatment Type
10.5.7.2 Rest of Middle East & Asia Medical Tourism by Service Provider
10.6 Latin America
10.6.1 Latin America Medical Tourism by country
10.6.2 Latin America Medical Tourism by Treatment Type
10.6.3 Latin America Medical Tourism by Service Provider
10.6.4 Brazil
10.6.4.1 Brazil Medical Tourism by Treatment Type
10.6.4.2 Brazil Africa Medical Tourism by Service Provider
10.6.5 Argentina
10.6.5.1 Argentina Medical Tourism by Treatment Type
10.6.5.2 Argentina Medical Tourism by Service Provider
10.6.6 Rest of Latin America
10.6.6.1 Rest of Latin America Medical Tourism by Treatment Type
10.6.6.2 Rest of Latin America Medical Tourism by Service Provider
11. Company Profile
11.1 Apollo hospitals
11.1.1 Market Overview
11.1.2 Financials
11.1.3 Product/Services/Offerings
11.1.4 SWOT Analysis
11.1.5 The SNS View
11.2 Fortis Healthcare
11.2.1 Market Overview
11.2.2 Financials
11.2.3 Product/Services/Offerings
11.2.4 SWOT Analysis
11.2.5 The SNS View
11.3 Asian heart Institute
11.3.1 Market Overview
11.3.2 Financials
11.3.3 Product/Services/Offerings
11.3.4 SWOT Analysis
11.3.5 The SNS View
11.4 KPJ Healthcare Berhad
11.4.1 Market Overview
11.4.2 Financials
11.4.3 Product/Services/Offerings
11.4.4 SWOT Analysis
11.4.5 The SNS View
11.5 Livonta Global
11.5.1 Market Overview
11.5.2 Financials
11.5.3 Product/Services/Offerings
11.5.4 SWOT Analysis
11.5.5 The SNS View
11.6 Gleneagles hospitals
11.6.1 Market Overview
11.6.2 Financials
11.6.3 Product/Services/Offerings
11.6.4 SWOT Analysis
11.6.5 The SNS View
11.7 Others
11.7.1 Market Overview
11.7.2 Financials
11.7.3 Product/Services/Offerings
11.7.4 SWOT Analysis
11.7.5 The SNS View
12. Competitive Landscape
12.1 Competitive Benchmarking
12.2 Market Share analysis
12.3 Recent Developments
13. Use Cases and Practice’s
14. Conclusion
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