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Medical Tourism Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027

Market Overview:

The global medical tourism market reached a value of US$ 81.1 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 273.7 Billion by 2027, exhibiting a CAGR of 22.98% during 2022-2027. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

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.

Key Market Segmentation: 

IMARC Group provides an analysis of the key trends in each sub-segment of the global medical tourism market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on treatment type.

Breakup by Treatment Type:

  • Cosmetic Treatment
  • Dental Treatment
  • Cardiovascular Treatment
  • Orthopaedic Treatment
  • Bariatric Surgery
  • Fertility Treatment
  • Ophthalmic Treatment
  • Others
     

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. 

Breakup by Region:

  • North America
    • United States
    • Canada
  • 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, Asia Pacific holds the leading position in the market.

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 Healthcare Solutions., Fortis Healthcare, Healthbase, KPJ Healthcare Berhad, Prince Court Medical Centre, Samitivej, Seoul National University Hospital, UZ Leuven, etc.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Treatment Type, Region
Region Covered Asia Pacific, Europe, North America, Latin America, Middle East and Africa
Countries Covered United States, Canada, Germany, France, United Kingdom, Italy, Spain, Czech Republic, Russia, China, Thailand, India, South Korea, Singapore, Malaysia, Taiwan, Indonesia, Brazil, Mexico, Costa Rica, Colombia
Companies Covered Aditya Birla Memorial Hospital, Apollo Hospitals Enterprise Limited, Asian Heart Institute, Barbados Fertility Center, BB Healthcare Solutions., Fortis Healthcare, Healthbase, KPJ Healthcare Berhad, Prince Court Medical Centre, Samitivej, Seoul National University Hospital and UZ Leuven
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

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
        6.6.2 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
            7.3.3.5 France
              7.3.3.5.1 Market Trends
              7.3.3.5.2 Market Forecast
            7.3.3.6 Russia
              7.3.3.6.1 Market Trends
              7.3.3.6.2 Market Forecast
            7.3.3.7 Czech Republic
              7.3.3.7.1 Market Trends
              7.3.3.7.2 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$), 2016-2021
Figure 3: Global: Medical Tourism Market: Breakup by Treatment Type (in %), 2021
Figure 4: Global: Medical Tourism Market: Breakup by Region (in %), 2021
Figure 5: Global: Medical Tourism Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 6: Global: Medical Tourism (Cosmetic Treatment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 7: Global: Medical Tourism (Cosmetic Treatment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 8: Global: Medical Tourism (Dental Treatment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: Global: Medical Tourism (Dental Treatment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: Global: Medical Tourism (Cardiovascular Treatment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: Global: Medical Tourism (Cardiovascular Treatment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: Global: Medical Tourism (Orthopaedic Treatment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: Global: Medical Tourism (Orthopaedic Treatment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: Global: Medical Tourism (Bariatric Surgery) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: Global: Medical Tourism (Bariatric Surgery) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: Global: Medical Tourism (Fertility Treatment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: Global: Medical Tourism (Fertility Treatment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: Global: Medical Tourism (Ophthalmic Treatment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: Global: Medical Tourism (Ophthalmic Treatment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: Global: Medical Tourism (Other Treatment Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: Global: Medical Tourism (Other Treatment Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: North America: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: North America: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: United States: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: United States: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: Canada: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: Canada: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: Asia Pacific: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 29: Asia Pacific: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 30: India: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 31: India: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 32: China: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 33: China: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 34: Indonesia: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 35: Indonesia: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 36: Thailand: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 37: Thailand: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 38: Singapore: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 39: Singapore: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 40: Malaysia: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 41: Malaysia: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 42: South Korea: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 43: South Korea: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 44: Taiwan: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 45: Taiwan: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 46: Europe: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 47: Europe: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 48: Germany: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 49: Germany: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 50: Italy: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 51: Italy: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 52: United Kingdom: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 53: United Kingdom: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 54: Spain: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 55: Spain: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 56: France: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 57: France: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 58: Russia: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 59: Russia: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 60: Czech Republic: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 61: Czech Republic: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 62: Latin America: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 63: Latin America: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 64: Mexico: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 65: Mexico: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 66: Brazil: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 67: Brazil: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 68: Costa Rica: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 69: Costa Rica: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 70: Colombia: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 71: Colombia: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 72: Middle East and Africa: Medical Tourism Market: Sales Value (in Million US$), 2016 & 2021
Figure 73: Middle East and Africa: Medical Tourism Market Forecast: Sales Value (in Million US$), 2022-2027
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, 2021 and 2027
Table 2: Global: Medical Tourism Market Forecast: Breakup by Treatment Type (in Million US$), 2022-2027
Table 3: Global: Medical Tourism Market Forecast: Breakup by Region (in Million US$), 2022-2027
Table 4: Global: Medical Tourism Market: Competitive Structure
Table 5: Global: Medical Tourism Market: Key Players

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Key Questions Answered in This Report

According to the estimates by IMARC Group, the global medical tourism market is expected to witness a CAGR of 22.98% from 2022 to 2027.

Patients are increasingly adopting medical migration, owing to high treatment expenditures for chronic ailments in several developed nations, thereby representing one of the key drivers for the global medical tourism market.

The implementation of favorable government policies promoting the growth of the medical infrastructures and extensive research and development (R&D) activities are some of the key trends in the global medical tourism market.

Sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary travel restrictions which has negatively impacted the growth of the market.

On the basis of the treatment type, the market has been segmented into cosmetic treatment, dental treatment, cardiovascular treatment, orthopaedic treatment, bariatric surgery, fertility treatment, ophthalmic treatment, and others. At present, cosmetic treatment exhibits a clear dominance in the market.

Region-wise, the market has been classified into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America, where Asia Pacific dominates the global market.

The key companies in the global medical tourism market are Aditya Birla Memorial Hospital, Apollo Hospitals Enterprise Limited, Asian Heart Institute, Barbados Fertility Center, BB Healthcare Solutions., Fortis Healthcare, Healthbase, KPJ Healthcare Berhad, Prince Court Medical Centre, Samitivej, Seoul National University Hospital, UZ Leuven, etc.

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