What is the global market size of Medical Tourism Market?

Medical Tourism Market size was valued at USD 17.35 billion in 2021 and is poised to grow from USD 21.42 billion in 2022 to USD 93.9 billion by 2030, growing at a CAGR of 23.5% in the forecast period (2023-2030).

Who are the key vendors in the Global Medical Tourism Market?

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions. 'Bumrungrad International Hospital', 'Apollo Hospitals', 'Fortis Healthcare', 'Gleneagles Global Hospitals', 'KPJ Healthcare Berhad', 'Prince Court Medical Centre', 'Raffles Medical Group', 'Samitivej Hospital', 'Bangkok Hospital', 'Anadolu Medical Center', 'Acibadem Healthcare Group', 'Medicana International Hospitals Group', 'Clemenceau Medical Center', 'Wooridul Spine Hospital', 'Seoul National University Hospital', 'Asan Medical Center', 'Yanhee International Hospital', 'Singapore General Hospital', 'St. Luke's Medical Center', 'The Medical City'

What is the key driver of Global Medical Tourism Market?

One of the key aspects that drives the growth of the market includes the availability of the lowest costs of surgical care. In developed countries, rising healthcare costs are putting a strain on both healthcare providers and patients. Government regulations imposed on the healthcare system in various nations cause operations to be delayed. This has prompted people to seek medical treatment in other countries. Medical treatment in Asian countries is cheaper than in private institutions in the United States, according to the Medical and Health Tourism Congress (MHTC). For an instance, cardiac bypass surgery in Thailand would cost USD13,000 against USD113,000 in the United States. As a result, an increase in the number of surgeries is being attributed to an increase in inbound health tourism to nations such as India and Thailand, among others, for speedy and low-cost medical care. Hence, due to this the market is likely to be propelled.

What is the key market trend for Global Medical Tourism Market?

The most prominent trend that contributes to the medical tourism market growth across the globe includes active consumer preference toward cosmetic procedures. As the number of COVID-19 cases has begun to drop in some countries and travel restrictions have been removed, demand for procedures that were delayed or postponed during the epidemic has increased. Individuals' increased awareness of personal care and appearance has resulted in increased demand for cosmetic procedures such as body fat removal, acne treatment, and so on. Despite the COVID-19 pandemic in July 2021, according to the American Academy of Facial and Reconstructive Surgery (AAFPRS) surgeons, there has been an increase in the number of appointments and treatments for a facelift, eyelift, and other procedures. Individuals' preference for these operations in other countries is also influenced by the availability of skilled specialists as well as high-quality care. This thus is expected to positively influence the growth of the market during the forecast period.

Which region accounted for the largest share in Global Medical Tourism Market?

The Global Medical Tourism Market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. In 2021, the Asia-Pacific region is projected to hold the most substantial share of the market. This is attributed to the availability of advanced treatment options in the emerging economies of the region such as Thailand, India, Costa Rica, Mexico, Malaysia, and Singapore. Some other key aspects that contribute to the regional growth of the market include the increasing number of private hospitals, enhanced healthcare infrastructure, and availability of cost-effective treatment options in these countries.

Top Medical Tourism Companies

Skyquest Technology's expert advisors have carried out comprehensive research and identified these companies as industry leaders in the Medical Tourism Market. This Analysis is based on comprehensive primary and secondary research on the corporate strategies, financial and operational performance, product portfolio, market share and brand analysis of all the leading Medical Tourism industry players.

Medical Tourism Market Competitive Landscape

The market is fragmented in nature. The prominent players operating in the market are constantly adopting various growth strategies in order to stay afloat in the market. Product launches, innovations, mergers, and acquisitions, collaborations and partnerships, and intensive R&D are some of the growth strategies that are adopted by these key players to thrive in the competitive market. The key market players are also constantly focused on R&D in order to supply industries with the most efficient and cost-effective solutions.

Medical Tourism Market Top Players Company Profiles

Bumrungrad International Hospital
Apollo Hospitals
Fortis Healthcare
Gleneagles Global Hospitals
KPJ Healthcare Berhad
Prince Court Medical Centre
Raffles Medical Group
Samitivej Hospital
Bangkok Hospital
Anadolu Medical Center
Acibadem Healthcare Group
Medicana International Hospitals Group
Clemenceau Medical Center
Wooridul Spine Hospital
Seoul National University Hospital
Asan Medical Center
Yanhee International Hospital
Singapore General Hospital
St. Luke's Medical Center
The Medical City

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Global Medical Tourism Market size was valued at USD 30.53 Billion in 2024 and is poised to grow from USD 35.45 Billion in 2025 to USD 117.01 Billion by 2033, growing at a CAGR of 16.1% during the forecast period (2026–2033).

The major players of the market are continuously applying different growth strategies so that they can increase their presence. To become successful in this highly competitive market, the market leaders are using tactics like mergers & acquisitions, collaborations, extensive R&D, and product launches. To offer the market the most affordable and efficient treatment solutions for various diseases the companies are continuously focusing on research and development. These types of initiatives will enhance the medical tourism market in various countries. Furthermore, better focus on international tourists getting cosmetic treatments at an affordable price in countries like Malaysia and South Korea is also driving the progression of medical tourism market. 'MOHW Hengchun Tourism Hospital (Taiwan) ', 'Apollo Hospitals Enterprise Ltd. (India) ', 'Bumrungrad International Hospital (Thailand) ', 'Mount Elizabeth Hospitals (Singapore) ', 'Dr. B. L. Kapur Memorial Hospital (India) ', 'Kasemrad Hospital International Rattanathibet (Thailand) ', 'Mission Hospital (Thailand) ', 'Bangkok Hospital (Thailand) ', 'Miot Hospital (India) ', 'Penang Adventist Hospital (Malaysia) ', 'Samitivej Pcl. (Thailand) ', 'Barbados Fertility Center (Barbados) ', 'KPJ Healthcare Berhad (Malaysia) ', 'Aditya Birla Memorial Hospital (India)'

The Asia Pacific region is witnessing the maximum growth in the medical tourism market. This is mainly because recently this region has become an appealing destination for medical services. One of the major reasons for this is the cost-efficiency of medical treatments in countries such as Thailand, Malaysia, and India. Nowadays, medical treatment is extremely affordable in these areas compared to Western countries without compromising on quality. Furthermore, the region is also proud of their immensely talented medical professionals and outstanding medical facilities acknowledged by international bodies. Advanced medical technologies and treatments along with less waiting times for procedures, boosts the growth of medical tourism market in the region. Moreover, government bodies are also taking initiatives and implementing policies for enhancing medical tourism market revenue with smooth visa processes and promotional activities.

Top Medical Tourism Companies

Medical Tourism Market Competitive Landscape

FAQs

What is the global market size of Medical Tourism Market?

Who are the key vendors in the Medical Tourism Market?

What is the key driver of Medical Tourism Market?

What is the key market trend for Medical Tourism Market?

Which region accounted for the largest share in Medical Tourism Market?

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