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

Market Overview:

The South Korea medical tourism market is expected to exhibit a CAGR of XX% 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 on different end use industries. These insights are included in the report as a major market contributor.

Medical tourism refers to a planned excursion across international borders to avail certain medical treatments. These treatments range from cosmetic, ophthalmic, dental, cardiovascular, and orthopedic services to various complex procedures, such as stem-cell transplants. Some of the common considerations undertaken while selecting the location include treatment costs, the availability of skilled medical personnel and advanced healthcare facilities, distance, etc. Besides enhancing the quality of life, medical tourism offers numerous economic benefits, including generating healthcare jobs, setting global healthcare standards, exchanging knowledge, increasing foreign revenues, etc.

South Korea Medical Tourism Market Trends:

The growing inbound medical travel owing to the availability of state-of-the-art healthcare facilities, highly-trained practitioners, and cost-effective treatments is primarily driving the South Korea medical tourism market. Besides this, the increasing adoption of elective medical procedures that are not covered by medical insurance, such as fertility treatments, gender reassignment surgeries, reproductive therapy, dental reconstruction, cosmetic surgeries, etc., is acting as another significant growth-inducing factor. Furthermore, several initiatives undertaken by the government of South Korea to create awareness and promote medical tourism are also catalyzing the market growth. For instance, the Ministry of Health and Welfare (MOHW) improved the safety of international patients by introducing mandatory registration of medical institutions serving foreign patients and compulsory medical malpractice liability insurance. Additionally, numerous healthcare organizations and centers are also offering comprehensive medical tourism packages to patients, which include all travel-related services ranging from ticket bookings to accommodation and healthcare coverage. This, in turn, is creating a positive outlook for the market. Apart from this, the emerging trend of combining wellness practices with traditional Korean medicinal therapies is expected to drive the growth of the South Korea medical tourism market in the coming years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the South Korea medical tourism market report, along with forecasts for the period 2022-2027. Our report has categorized the market based on type and treatment type.

Breakup by Type:

  • Outbound
  • Inbound
  • Intrabound
     

Breakup by Treatment Type:

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

Competitive Landscape:

The competitive landscape of the industry has also been examined along with the profiles of the key players being 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.

Report Coverage:

Report Features Details
Base Year of the Analysis 2021
    Historical Period 2016-2021
Forecast Period 2022-2027
Units US$ Billion
Segment Coverage Type, Treatment Type
Companies Covered 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.
Customization Scope 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 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)

 

Key Questions Answered in This Report:

  • How has the south korea medical tourism market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the south korea medical tourism market?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the treatment type?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the south korea medical tourism market and who are the key players?
  • What is the degree of competition in the industry?

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    South Korea 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 Type
    6.1    Outbound
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Inbound
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Intrabound
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Treatment Type
    7.1    Cosmetic Treatment
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Dental Treatment
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Cardiovascular Treatment
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Orthopaedic Treatment
        7.4.1 Market Trends
        7.4.2 Market Forecast
    7.5    Bariatric Surgery
        7.5.1 Market Trends
        7.5.2 Market Forecast
    7.6    Fertility Treatment
        7.6.1 Market Trends
        7.6.2 Market Forecast
    7.7    Ophthalmic Treatment
        7.7.1 Market Trends
        7.7.2 Market Forecast
    7.8    Others
        7.8.1 Market Trends
        7.8.2 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    Price Analysis
12    Competitive Landscape

    12.1    Market Structure
    12.2    Key Players
    12.3    Profiles of Key Players
        12.3.1    Ajou University Medical Center
           12.3.1.1 Company Overview
           12.3.1.2 Product Portfolio
        12.3.2    Banobagi Plastic Surgery
           12.3.2.1 Company Overview
           12.3.2.2 Product Portfolio
        12.3.3    CHA Fertility Center
           12.3.3.1 Company Overview
           12.3.3.2 Product Portfolio
        12.3.4    Injeuniversity Haeundae Hospital
           12.3.4.1 Company Overview
           12.3.4.2 Product Portfolio
        12.3.5    JK Plastic Surgery Center
           12.3.5.1 Company Overview
           12.3.5.2 Product Portfolio
        12.3.6    Keimyung University Dongsan Hospital
           12.3.6.1 Company Overview
           12.3.6.2 Product Portfolio
        12.3.7    Korea Medical Hub
           12.3.7.1 Company Overview
           12.3.7.2 Product Portfolio
        12.3.8    Nasaret International Hospital
           12.3.8.1 Company Overview
           12.3.8.2 Product Portfolio
        12.3.9    Sun Medical Center
           12.3.9.1 Company Overview
           12.3.9.2 Product Portfolio
        12.3.10    Wonkwang University Hospital
           12.3.10.1 Company Overview
           12.3.10.2 Product Portfolio

List of Figures

Figure 1: South Korea: Medical Tourism Market: Major Drivers and Challenges
Figure 2: South Korea: Medical Tourism Market: Sales Value (in Billion US$), 2016-2021
Figure 3: South Korea: Medical Tourism Market Forecast: Sales Value (in Billion US$), 2022-2027
Figure 4: South Korea: Medical Tourism Market: Breakup by Type (in %), 2021
Figure 5: South Korea: Medical Tourism Market: Breakup by Treatment Type (in %), 2021
Figure 6: South Korea: Medical Tourism (Outbound) Market: Sales Value (in Million US$), 2016 & 2021
Figure 7: South Korea: Medical Tourism (Outbound) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 8: South Korea: Medical Tourism (Inbound) Market: Sales Value (in Million US$), 2016 & 2021
Figure 9: South Korea: Medical Tourism (Inbound) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 10: South Korea: Medical Tourism (Intrabound) Market: Sales Value (in Million US$), 2016 & 2021
Figure 11: South Korea: Medical Tourism (Intrabound) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 12: South Korea: Medical Tourism (Cosmetic Treatment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 13: South Korea: Medical Tourism (Cosmetic Treatment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 14: South Korea: Medical Tourism (Dental Treatment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 15: South Korea: Medical Tourism (Dental Treatment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 16: South Korea: Medical Tourism (Cardiovascular Treatment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 17: South Korea: Medical Tourism (Cardiovascular Treatment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 18: South Korea: Medical Tourism (Orthopaedic Treatment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 19: South Korea: Medical Tourism (Orthopaedic Treatment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 20: South Korea: Medical Tourism (Bariatric Surgery) Market: Sales Value (in Million US$), 2016 & 2021
Figure 21: South Korea: Medical Tourism (Bariatric Surgery) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 22: South Korea: Medical Tourism (Fertility Treatment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 23: South Korea: Medical Tourism (Fertility Treatment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 24: South Korea: Medical Tourism (Ophthalmic Treatment) Market: Sales Value (in Million US$), 2016 & 2021
Figure 25: South Korea: Medical Tourism (Ophthalmic Treatment) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 26: South Korea: Medical Tourism (Other Treatment Types) Market: Sales Value (in Million US$), 2016 & 2021
Figure 27: South Korea: Medical Tourism (Other Treatment Types) Market Forecast: Sales Value (in Million US$), 2022-2027
Figure 28: South Korea: Medical Tourism Industry: SWOT Analysis
Figure 29: South Korea: Medical Tourism Industry: Value Chain Analysis
Figure 30: South Korea: Medical Tourism Industry: Porter's Five Forces Analysis

List of Tables

Table 1: South Korea: Medical Tourism Market: Key Industry Highlights, 2021 and 2027
Table 2: South Korea: Medical Tourism Market Forecast: Breakup by Type (in Million US$), 2022-2027
Table 3: South Korea: Medical Tourism Market Forecast: Breakup by Treatment Type (in Million US$), 2022-2027
Table 4: South Korea: Medical Tourism Market: Key Price Indicators
Table 5: South Korea: Medical Tourism Market: Competitive Structure
Table 6: South Korea: Medical Tourism Market: Key Players


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