Market Overview:
The global medical tourism market reached a value of US$ 46 Billion in 2019. Medical tourism refers to organized travel across countries to receive medical treatment. It usually involves traveling abroad for maintenance, enhancement or restoration of health through advanced healthcare facilities and treatment methods. The services are often availed for elective surgeries and the treatment of various dental, cosmetic, cardiovascular, orthopaedic and neurological diseases, along with other critical ailments, such as cancer. They also enable the patients to receive high-quality treatment and other healthcare facilities at affordable costs.
The thriving medical industry across the globe is one of the key factors driving the growth of the market. Patients are increasingly adopting medical migration, owing to high treatment expenditures for chronic ailments in several developed nations. Furthermore, the availability of state-of-the-art medical facilities at affordable costs in various developing countries is attracting patients from all over the world. Healthcare centers are focusing on providing improved healthcare, innovative medicines, modern devices and personalized care to patients, thereby providing a boost to the market. Additionally, healthcare organizations and centers are also offering comprehensive medical tourism packages to patients, which include all travel-related services ranging from ticket booking to accommodation and medical insurance. Moreover, growing consumer awareness regarding the availability of advanced medical facilities is another factor favoring the market growth. Other factors, including the implementation of favourable government policies promoting the growth of the medical infrastructure and extensive research and development (R&D) activities, are projected to drive the market further. From 2021, however, the market is expected to recover and register double digit growth during 2020-2025.
The availability of state-of-the-art medical facilities at affordable costs in various developing countries is another factor attracting patients to access healthcare treatment from all over the world. Along with this, inadequate insurance benefits in various countries and the growing demand for surgeries that are not covered by medical insurance have prompted healthcare organizations to offer comprehensive medical tourism packages to patients. These packages include all travel-related services, ranging from ticket booking to accommodation and medical insurance. However, the industry is facing challenges due to travel restrictions imposed by the governments across the globe in response to the ongoing spread of coronavirus (COVID-19) disease.
The numerous benefits offered by the medical facilities in certain countries, including personalized care, modern devices, innovative medicines and latest technologies, represent the primary factor propelling the global medical tourism industry. These advancements have prompted Individuals to travel from developing to developed economies for receiving medical treatment of improved quality. They are also seeking medical care for rare conditions, including stem-cell transplants and gender-reassignment operations, that are not available in their home country. Apart from this, rapid globalization, improving access to air travel and availability of relevant information over the internet have promoted medical tourism among the masses.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global medical tourism market report, along with forecasts for growth at the global, regional and country level from 2020-2025. Our report has categorized the market based on region, type, service, organization size, and verticle.
Breakup by Treatment Type:
Among these, cosmetic treatment represents the dominant market segment, accounting for the majority of the total market share. Since cosmetic treatments are considered to be elective procedures, their costs are not covered by medical insurance plans. The cost of cosmetic procedures, however, are considerably lower in numerous developing countries, which has impelled individuals to opt for medical tourism in order to access better quality healthcare services at affordable prices.
- Cosmetic Treatment
- Dental Treatment
- Cardiovascular Treatment
- Orthopaedic Treatment
- Bariatric Surgery
- Fertility Treatment
- Ophthalmic Treatment
- Others
The growth of the medical tourism market are answerable the increasing number of private and government hospital, improvements in healthcare infrastructure and responsible cheaper treatment. It is most important leads of revenue statistics in developing economics to improve their healthcare business. The demand of medical tourism increase in the number of private hospital to improve treatment quality, analysis of personal care, modern technologies are responsible of the growing international patients.
Breakup by Region:
- North America
- Asia Pacific
- India
- China
- Indonesia
- Thailand
- Singapore
- Malaysia
- South Korea
- Taiwan
- Europe
- Germany
- Italy
- United Kingdom
- Spain
- France
- Russia
- Czech Republic
- Latin America
- Mexico
- Brazil
- Costa Rica
- Colombia
- Middle East and Africa
At present, North America holds the leading position in the market. This can be attributed to the availability of improved medical services in the region, along with the presence of highly qualified medical professionals with expertise in numerous fields, especially in neurology and oncology.
Competitive Landscape:
The competitive landscape of the industry has also been examined with some of the medical tourism compaines being Aditya Birla Memorial Hospital, Apollo Hospitals Enterprise Limited, Asian Heart Institute, Barbados Fertility Center, BB Health Solutions., Fortis Healthcare, Healthbase, KPJ Healthcare Berhad, Prince Court Medical Centre, Samitivej, Seoul National University Hospital, UZ Leuven, etc.
Key Questions Answered in This Report:
The demand for medical tourism services has increased significantly on account of the restrictions implemented by the government, which include the travel across countries to receive medical treatment and enhancement or restoration of health through advanced healthcare facilities and treatment methods.
The global medical tourism market size was reached a healthy growth in 2019.
Leading medical tourism manufacturers are Aditya Birla memorial hospital, Apollo hospitals, Fortis healthcare, Asian heart institute, Barbados fertility center, BB health solutions, Seoul national university hospital, etc.
The medical tourism market is anticipated to exhibit a CAGR of 8% during 2020-2025.
The global medical tourism market is primarily drivers including the implementation of favorable government policies promoting the growth of the medical infrastructure and extensive research and development (R&D) activities
As per the IMARC Group estimates, the global medical tourism market will reach double digit growth by 2025.
At present, North America enjoys the leading position in the market, on account of the high medical services rate in the region.
The market has been analyzed on the basis of the treatment type into cosmetic, dental, cardiovascular, orthopedic, bariatric surgery, fertility, ophthalmic and others.
Based on the end user industry type, the market has been divided into diagnostics, research laboratories, point of care testing and others.
1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Medical Tourism Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Treatment Type
6.1 Cosmetic Treatment
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Dental Treatment
6.2.1 Market Trends
6.2.2 Market Forecast
6.3 Cardiovascular Treatment
6.3.1 Market Trends
6.3.2 Market Forecast
6.4 Orthopaedic Treatment
6.4.1 Market Trends
6.4.2 Market Forecast
6.5 Bariatric Surgery
6.5.1 Market Trends
6.5.2 Market Forecast
6.6 Fertility Treatment
6.6.1 Market Trends
6.5.2 Market Forecast
6.7 Ophthalmic Treatment
6.7.1 Market Trends
6.7.2 Market Forecast
6.8 Others
6.8.1 Market Trends
6.8.2 Market Forecast
7 Market Breakup by Region
7.1 North America
7.1.1 Market Performance
7.1.2 Market Breakup by Treatment Type
7.1.3 Market Breakup by Country
7.1.3.1 United States
7.1.3.1.1 Market Trends
7.1.3.1.2 Market Forecast
7.1.3.2 Canada
7.1.3.2.1 Market Trends
7.1.3.2.2 Market Forecast
7.1.4 Market Forecast
7.2 Asia Pacific
7.2.1 Market Performance
7.2.2 Market Breakup by Treatment Type
7.2.3 Market Breakup by Country
7.2.3.1 India
7.2.3.1.1 Market Trends
7.2.3.1.2 Market Forecast
7.2.3.2 China
7.2.3.2.1 Market Trends
7.2.3.2.2 Market Forecast
7.2.3.3 Indonesia
7.2.3.3.1 Market Trends
7.2.3.3.2 Market Forecast
7.2.3.4 Thailand
7.2.3.4.1 Market Trends
7.2.3.4.2 Market Forecast
7.2.3.5 Singapore
7.2.3.5.1 Market Trends
7.2.3.5.2 Market Forecast
7.2.3.6 Malaysia
7.2.3.6.1 Market Trends
7.2.3.6.2 Market Forecast
7.2.3.7 South Korea
7.2.3.7.1 Market Trends
7.2.3.7.2 Market Forecast
7.2.3.8 Taiwan
7.2.3.8.1 Market Trends
7.2.3.8.2 Market Forecast
7.2.4 Market Forecast
7.3 Europe
7.3.1 Market Performance
7.3.2 Market Breakup by Treatment Type
7.3.3 Market Breakup by Country
7.3.3.1 Germany
7.3.3.1.1 Market Trends
7.3.3.1.2 Market Forecast
7.3.3.2 Italy
7.3.3.2.1 Market Trends
7.3.3.2.2 Market Forecast
7.3.3.3 United Kingdom
7.3.3.3.1 Market Trends
7.3.3.3.2 Market Forecast
7.3.3.4 Spain
7.3.3.4.1 Market Trends
7.3.3.4.2 Market Forecast
7.3.3.4 France
7.3.3.4.1 Market Trends
7.3.3.4.2 Market Forecast
7.3.3.5 Russia
7.3.3.5.1 Market Trends
7.3.3.5.2 Market Forecast
7.3.3.6 Czech Republic
7.3.3.6.1 Market Trends
7.3.3.6.2 Market Forecast
7.3.4 Market Forecast
7.4 Latin America
7.4.1 Market Performance
7.4.2 Market Breakup by Treatment Type
7.4.3 Market Breakup by Country
7.4.3.1 Mexico
7.4.3.1.1 Market Trends
7.4.3.1.2 Market Forecast
7.4.3.2 Brazil
7.4.3.2.1 Market Trends
7.4.3.2.2 Market Forecast
7.4.3.3 Costa Rica
7.4.3.3.1 Market Trends
7.4.3.3.2 Market Forecast
7.4.3.4 Colombia
7.4.3.4.1 Market Trends
7.4.3.4.2 Market Forecast
7.4.4 Market Forecast
7.5 Middle East and Africa
7.5.1 Market Performance
7.5.2 Market Breakup by Treatment Type
7.5.3 Market Breakup by Country
7.5.4 Market Forecast
8 SWOT Analysis
8.1 Overview
8.2 Strengths
8.3 Weaknesses
8.4 Opportunities
8.5 Threats
9 Value Chain Analysis
10 Porters Five Forces Analysis
10.1 Overview
10.2 Bargaining Power of Buyers
10.3 Bargaining Power of Suppliers
10.4 Degree of Competition
10.5 Threat of New Entrants
10.6 Threat of Substitutes
11 Competitive Landscape
11.1 Market Structure
11.2 Key Players
11.3 Profiles of Key Players
11.3.1 Aditya Birla Memorial Hospital
11.3.1.1 Company Overview
11.3.1.2 Product Portfolio
11.3.2 Apollo Hospitals Enterprise Limited
11.3.2.1 Company Overview
11.3.2.2 Product Portfolio
11.3.2.3 Financials
11.3.2.4 SWOT Analysis
11.3.3 Asian Heart Institute
11.3.3.1 Company Overview
11.3.3.2 Product Portfolio
11.3.4 Barbados Fertility Center
11.3.4.1 Company Overview
11.3.4.2 Product Portfolio
11.3.5 BB Healthcare Solutions
11.3.5.1 Company Overview
11.3.5.2 Product Portfolio
11.3.6 Fortis Healthcare
11.3.6.1 Company Overview
11.3.6.2 Product Portfolio
11.3.6.3 Financials
11.3.6.4 SWOT Analysis
11.3.7 Healthbase
11.3.7.1 Company Overview
11.3.7.2 Product Portfolio
11.3.8 KPJ Healthcare Berhad
11.3.8.1 Company Overview
11.3.8.2 Product Portfolio
11.3.8.3 Financials
11.3.9 Prince Court Medical Centre
11.3.9.1 Company Overview
11.3.9.2 Product Portfolio
11.3.10 Samitivej
11.3.10.1 Company Overview
11.3.10.2 Product Portfolio
11.3.10.3 Financials
11.3.11 Seoul National University Hospital
11.3.11.1 Company Overview
11.3.11.2 Product Portfolio
11.3.12 UZ Leuven
11.3.12.1 Company Overview
11.3.12.2 Product Portfolio
List of Figures
Figure 1: Global: Medical Tourism Market: Major Drivers and Challenges
Figure 2: Global: Medical Tourism Market: Sales Value (in Billion US$), 2014-2019
Figure 3: Global: Medical Tourism Market: Breakup by Treatment Type (in %), 2019
Figure 4: Global: Medical Tourism Market: Breakup by Region (in %), 2019
Figure 5: Global: Medical Tourism Market Forecast: Sales Value (in Billion US$), 2020-2025
Figure 6: Global: Medical Tourism (Cosmetic Treatment) Market: Sales Value (in Million US$), 2014 & 2019
Figure 7: Global: Medical Tourism (Cosmetic Treatment) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 8: Global: Medical Tourism (Dental Treatment) Market: Sales Value (in Million US$), 2014 & 2019
Figure 9: Global: Medical Tourism (Dental Treatment) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 10: Global: Medical Tourism (Cardiovascular Treatment) Market: Sales Value (in Million US$), 2014 & 2019
Figure 11: Global: Medical Tourism (Cardiovascular Treatment) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 12: Global: Medical Tourism (Orthopaedic Treatment) Market: Sales Value (in Million US$), 2014 & 2019
Figure 13: Global: Medical Tourism (Orthopaedic Treatment) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 14: Global: Medical Tourism (Bariatric Surgery) Market: Sales Value (in Million US$), 2014 & 2019
Figure 15: Global: Medical Tourism (Bariatric Surgery) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 16: Global: Medical Tourism (Fertility Treatment) Market: Sales Value (in Million US$), 2014 & 2019
Figure 17: Global: Medical Tourism (Fertility Treatment) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 18: Global: Medical Tourism (Ophthalmic Treatment) Market: Sales Value (in Million US$), 2014 & 2019
Figure 19: Global: Medical Tourism (Ophthalmic Treatment) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 20: Global: Medical Tourism (Other Treatment Types) Market: Sales Value (in Million US$), 2014 & 2019
Figure 21: Global: Medical Tourism (Other Treatment Types) Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 22: North America: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 23: North America: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 24: United States: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 25: United States: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 26: Canada: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 27: Canada: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 28: Asia Pacific: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 29: Asia Pacific: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 30: India: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 31: India: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 32: China: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 33: China: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 34: Indonesia: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 35: Indonesia: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 36: Thailand: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 37: Thailand: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 38: Singapore: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 39: Singapore: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 40: Malaysia: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 41: Malaysia: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 42: South Korea: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 43: South Korea: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 44: Taiwan: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 45: Taiwan: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 46: Europe: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 47: Europe: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 48: Germany: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 49: Germany: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 50: Italy: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 51: Italy: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 52: United Kingdom: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 53: United Kingdom: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 54: Spain: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 55: Spain: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 56: France: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 57: France: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 58: Russia: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 59: Russia: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 60: Czech Republic: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 61: Czech Republic: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 62: Latin America: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 63: Latin America: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 64: Mexico: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 65: Mexico: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 66: Brazil: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 67: Brazil: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 68: Costa Rica: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 69: Costa Rica: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 70: Colombia: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 71: Colombia: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 72: Middle East and Africa: Medical Tourism Market: Sales Value (in Million US$), 2014 & 2019
Figure 73: Middle East and Africa: Medical Tourism Market Forecast: Sales Value (in Million US$), 2020-2025
Figure 74: Global: Medical Tourism Industry: SWOT Analysis
Figure 75: Global: Medical Tourism Industry: Value Chain Analysis
Figure 76: Global: Medical Tourism Industry: Porter’s Five Forces Analysis
List of Tables
Table 1: Global: Medical Tourism Market: Key Industry Highlights, 2019 and 2025
Table 2: Global: Medical Tourism Market Forecast: Breakup by Treatment Type (in Million US$), 2020-2025
Table 3: Global: Medical Tourism Market Forecast: Breakup by Region (in Million US$), 2020-2025
Table 4: Global: Medical Tourism Market Structure
Table 5: Global: Medical Tourism Market: Key Players