Product Code: PM1523
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)
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
Table of Contents
1. Introduction
- 1.1. Report Description
- 1.1.1. Objectives of the Study
- 1.1.2. Market Scope
- 1.1.3. Assumptions
- 1.2. Stakeholders
2. Executive Summary
3. Research Methodology
- 3.1. Overview
- 3.2. Data Sources
- 3.2.1. Primary Sources
- 3.2.2. Secondary Sources
4. Global Medical Tourism Market Insights
- 4.1. Medical Tourism Market - Industry Snapshot
- 4.2. Medical Tourism Market Dynamics
- 4.2.1. Drivers and Opportunities
- 4.2.1.1. Elevated medical expenses in advanced economies
- 4.2.1.2. Absence of insurance coverage in nations
- 4.2.2. Restraints and Challenges
- 4.2.2.1. Concerns regarding Medical Tourism from Medical and Ethical Perspectives
- 4.3. Porter's Five Forces Analysis
- 4.3.1. Bargaining Power of Suppliers (Moderate)
- 4.3.2. Threats of New Entrants: (Low)
- 4.3.3. Bargaining Power of Buyers (Moderate)
- 4.3.4. Threat of Substitute (Moderate)
- 4.3.5. Rivalry among existing firms (High)
- 4.4. PESTLE Analysis
- 4.5. Medical Tourism Industry trends
- 4.6. Value Chain Analysis
- 4.7. COVID-19 Impact Analysis
5. Global Medical Tourism Market, by Treatment Type
- 5.1. Key Findings
- 5.2. Introduction
- 5.2.1. Global Medical Tourism, by Treatment Type, 2019-2032 (USD Billion)
- 5.3. Cosmetic Treatment
- 5.3.1. Global Medical Tourism Market, by Cosmetic Treatment, by Region, 2019-2032 (USD Billion)
- 5.4. Bariatric Treatment
- 5.4.1. Global Medical Tourism Market, by Bariatric Treatment, by Region, 2019-2032 (USD Billion)
- 5.5. Dental Treatment
- 5.5.1. Global Medical Tourism Market, by Dental Treatment, by Region, 2019-2032 (USD Billion)
- 5.6. Cardiovascular Treatment
- 5.6.1. Global Medical Tourism Market, by Cardiovascular Treatment, by Region, 2019-2032 (USD Billion)
- 5.7. Orthopedic Treatment
- 5.7.1. Global Medical Tourism Market, by Orthopedic Treatment, by Region, 2019-2032 (USD Billion)
- 5.8. Ophthalmology Treatment
- 5.8.1. Global Medical Tourism Market, by Ophthalmology Treatment, by Region, 2019-2032 (USD Billion)
- 5.9. Infertility Treatment
- 5.9.1. Global Medical Tourism Market, by Infertility Treatment, by Region, 2019-2032 (USD Billion)
- 5.10. Alternative Medicine
- 5.10.1. Global Medical Tourism Market, by Alternative Medicine, by Region, 2019-2032 (USD Billion)
- 5.11. Others
- 5.11.1. Global Medical Tourism Market, by Others, by Region, 2019-2032 (USD Billion)
6. Global Medical Tourism Market, by Service Provider
- 6.1. Key Findings
- 6.2. Introduction
- 6.2.1. Global Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 6.3. Private
- 6.3.1. Global Medical Tourism Market, by Private, by Region, 2019-2032 (USD Billion)
- 6.4. Public
- 6.4.1. Global Medical Tourism Market, by Public, by Region, 2019-2032 (USD Billion)
7. Global Medical Tourism Market, by Geography
- 7.1. Key findings
- 7.2. Introduction
- 7.2.1. Medical Tourism Market Assessment, By Geography, 2019-2032 (USD Billion)
- 7.3. Medical Tourism Market - North America
- 7.3.1. North America: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.3.2. North America: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.3.3. Medical Tourism Market - U.S.
- 7.3.3.1. U.S.: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.3.3.2. U.S.: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.3.4. Medical Tourism Market - Canada
- 7.3.4.1. Canada: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.3.4.2. Canada: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.4. Medical Tourism Market - Europe
- 7.4.1. Europe: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.4.2. Europe: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.4.3. Medical Tourism Market - UK
- 7.4.3.1. UK: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.4.3.2. UK: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.4.4. Medical Tourism Market - France
- 7.4.4.1. France: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.4.4.2. France: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.4.5. Medical Tourism Market - Germany
- 7.4.5.1. Germany: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.4.5.2. Germany: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.4.6. Medical Tourism Market - Italy
- 7.4.6.1. Italy: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.4.6.2. Italy: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.4.7. Medical Tourism Market - Spain
- 7.4.7.1. Spain: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.4.7.2. Spain: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.4.8. Medical Tourism Market - Netherlands
- 7.4.8.1. Netherlands: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.4.8.2. Netherlands: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.4.9. Medical Tourism Market - Russia
- 7.4.9.1. Russia: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.4.9.2. Russia: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.5. Medical Tourism Market - Asia Pacific
- 7.5.1. Asia Pacific: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.5.2. Asia Pacific: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.5.3. Medical Tourism Market - China
- 7.5.3.1. China: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.5.3.2. China: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.5.4. Medical Tourism Market - India
- 7.5.4.1. India: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.5.4.2. India: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.5.5. Medical Tourism Market - Malaysia
- 7.5.5.1. Malaysia: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.5.5.2. Malaysia: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.5.6. Medical Tourism Market - Japan
- 7.5.6.1. Japan: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.5.6.2. Japan: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.5.7. Medical Tourism Market - Indonesia
- 7.5.7.1. Indonesia: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.5.7.2. Indonesia: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.5.8. Medical Tourism Market - South Korea
- 7.5.8.1. South Korea: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.5.8.2. South Korea: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.6. Medical Tourism Market - Middle East & Africa
- 7.6.1. Middle East & Africa: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.6.2. Middle East & Africa: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.6.3. Medical Tourism Market - Saudi Arabia
- 7.6.3.1. Saudi Arabia: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.6.3.2. Saudi Arabia: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.6.4. Medical Tourism Market - UAE
- 7.6.4.1. UAE: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.6.4.2. UAE: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.6.5. Medical Tourism Market - Israel
- 7.6.5.1. Israel: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.6.5.2. Israel: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.6.6. Medical Tourism Market - South Africa
- 7.6.6.1. South Africa: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.6.6.2. South Africa: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.7. Medical Tourism Market - Latin America
- 7.7.1. Latin America: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.7.2. Latin America: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.7.3. Medical Tourism Market - Mexico
- 7.7.3.1. Mexico: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.7.3.2. Mexico: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.7.4. Medical Tourism Market - Brazil
- 7.7.4.1. Brazil: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.7.4.2. Brazil: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
- 7.7.5. Medical Tourism Market - Argentina
- 7.7.5.1. Argentina: Medical Tourism Market, by Service Provider, 2019-2032 (USD Billion)
- 7.7.5.2. Argentina: Medical Tourism Market, by Treatment Type, 2019-2032 (USD Billion)
8. Competitive Landscape
- 8.1. Expansion and Acquisition Analysis
- 8.1.1. Expansion
- 8.1.2. Acquisitions
- 8.2. Partnerships/Collaborations/Agreements/Exhibitions
9. Company Profiles
- 9.1.Apollo Hospitals Enterprise Ltd.
- 9.1.1. Company Overview
- 9.1.2. Financial Performance
- 9.1.3. Product Benchmarking
- 9.1.4. Recent Development
- 9.2. Bangkok Hospital
- 9.2.1. Company Overview
- 9.2.2. Financial Performance
- 9.2.3. Product Benchmarking
- 9.2.4. Recent Development
- 9.3. Bumrungrad International Hospital
- 9.3.1. Company Overview
- 9.3.2. Financial Performance
- 9.3.3. Product Benchmarking
- 9.3.4. Recent Development
- 9.4. Dr. B. L. Kapur Memorial Hospital
- 9.4.1. Company Overview
- 9.4.2. Financial Performance
- 9.4.3. Product Benchmarking
- 9.4.4. Recent Development
- 9.5. Kasemrad Hospital International Rattanathibet
- 9.5.1. Company Overview
- 9.5.2. Financial Performance
- 9.5.3. Product Benchmarking
- 9.5.4. Recent Development
- 9.6. Miot Hospital
- 9.6.1. Company Overview
- 9.6.2. Financial Performance
- 9.6.3. Product Benchmarking
- 9.6.4. Recent Development
- 9.7. Mission Hospital
- 9.7.1. Company Overview
- 9.7.2. Financial Performance
- 9.7.3. Product Benchmarking
- 9.7.4. Recent Development
- 9.8. MOHW Hengchun Tourism Hospital
- 9.8.1. Company Overview
- 9.8.2. Financial Performance
- 9.8.3. Product Benchmarking
- 9.8.4. Recent Development
- 9.9. Mount Elizabeth Hospitals
- 9.9.1. Company Overview
- 9.9.2. Financial Performance
- 9.9.3. Product Benchmarking
- 9.9.4. Recent Development
- 9.10. Penang Adventist Hospital
- 9.10.1. Company Overview
- 9.10.2. Financial Performance
- 9.10.3. Product Benchmarking
- 9.10.4. Recent Development
- 9.11. Raffles Medical Group
- 9.11.1. Company Overview
- 9.11.2. Financial Performance
- 9.11.3. Product Benchmarking
- 9.11.4. Recent Development