According to the latest report by IMARC Group, titled "South Korea Medical Tourism Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028," the South Korea medical tourism market size reached US$ 1.8 Billion in 2022. Medical tourism involves the practice of traveling to another country in order to receive healthcare or medical treatment services. It involves individuals opting for medical care outside their home country for a variety of reasons, including cost savings, access to specialized treatments, shorter wait times, or the desire for a combination of medical treatment and vacation. It encompasses a wide range of treatments and procedures, such as elective surgeries, organ transplants, and specialized treatments, including stem cell therapy or cancer treatments. The availability of treatments may vary by destination and healthcare facility. There has been a significant rise in the popularity of medical tourism among the masses due to the availability of modern technologies across South Korea.
South Korea Medical Tourism Market Trends:
The market in South Korea is majorly driven by the growing awareness about medical tourism, coupled with inflating disposable income levels of individuals and shifting lifestyle preferences of the masses. Moreover, the government has actively promoted medical tourism and implemented policies to support the growth of the market. This includes simplifying visa processes for medical tourists, establishing dedicated medical tourism centers, and enhancing infrastructure and services at major hospitals and clinics. These efforts are helping to attract international patients and improve the overall medical tourism experience, which is acting as a growth-inducing factor. Also, numerous medical institutions have gained international recognition for their high standards of quality and safety, which provide assurance to international patients about the quality and reliability of healthcare services, this is creating a positive market outlook. Other factors, including the presence of strong cultural and tourism appeal and significant investments in areas, such as robotic surgery, regenerative medicine, cosmetic and plastic surgery, stem cell therapy, and precision medicine, are also positively influencing the market across South Korea. On account of the aforementioned factors, the market is anticipated to reach a value of US$ 2.5 Billion by 2028, exhibiting a CAGR of 5.7% during 2023-2028.
- Based on the type, the market has been categorized into outbound, inbound and intrabound.
- On the basis of the treatment type, the market has been divided into cosmetic, dental, cardiovascular, orthopaedic treatment, bariatric surgery, fertility, ophthalmic and other treatments.
- The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market. Some of the key players include Ajou University Medical Center, Banobagi Plastic Surgery, CHA Fertility Center, Injeuniversity Haeundae Hospital, JK Plastic Surgery Center, Keimyung University Dongsan Hospital, Korea Medical Hub, Nasaret International Hospital, Sun Medical Center and Wonkwang University Hospital.
|Base Year of the Analysis
||Type, Treatment Type
||Ajou University Medical Center, Banobagi Plastic Surgery, CHA Fertility Center, Injeuniversity Haeundae Hospital, JK Plastic Surgery Center, Keimyung University Dongsan Hospital, Korea Medical Hub, Nasaret International Hospital, Sun Medical Center and Wonkwang University Hospital
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2699
Five User License: US$ 3699
Corporate License: US$ 4699
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800