• MTB

Global Medical Tourism Market, 2015- 2025 (USD Million)

Updated: Jul 7, 2021

The global medical tourism market is mainly influenced by high medical treatment costs at native countries and easier treatment accessibility for health tourism patients.


Emergence of developing economies of Asia Pacific as major hubs for medical tourism, posing themselves as affordable healthcare centers is a characteristic feature of this market.


Chronic diseases often come with a significant socioeconomic burden. The incidence of chronic and acute diseases is increasing globally and hence there is a rising need for patients to procure medical treatment that is economically beneficial. Patients are also preferring medical tourism to bypass the long wait for the treatment. Also, exorbitant treatment and management costs particularly for surgeries that have limited or no insurance coverage attracts patients to the medical tourism destinations. These factors in turn, propel the growth of the global medical tourism market over the forecast period.


Medical tourism for procedures such as cosmetic and gender reassignment surgeries is expected to increase, as these surgeries are not covered under standard insurance in several countries, and are expensive if incurred out of pocket. Furthermore, the rising number of joint & hip replacement procedures and increasing demand for bariatric surgeries are other factors boosting the growth of the global medical tourism market over the coming years. Unavailability of specialized treatments for life-threatening diseases, particularly for cancer is expected to boost medical tourism in developed countries. This is attributed to the presence of well-developed healthcare infrastructure and availability for technologically advanced medical treatment facilities. Also, increasing incidence of cancer across the globe is a primary factor expected to support market growth. According to the American Cancer Society, more than 1.7 million new cancer cases are expected to be diagnosed in 2019.


Dental tourism is one of the fastest-growing segment in the global medical tourism market. Patients are traveling to destinations such as Mexico, Thailand, Spain, Turkey, India, Hungary, and the Philippines for the treatment, as it saves 50% - 70% of the total cost of the treatment.


Provisions undertaken by various government to develop well-establish healthcare infrastructure is expected to drive the growth of the global medical tourism market. Moreover, hospitals such as Apollo, Fortis, and NTT Medical Center are offering specialized treatments such as fertility and cardiovascular at a much lower cost than that quoted in developed economies, which are expected to attract more tourists.


Key segments of the global medical tourism market


Treatment Type Overview, 2015-2025 (USD Million)


Cardiovascular treatment

Cancer treatment

Fertility treatment

Neurological treatment

Orthopedic treatment

Cosmetic Treatment

Dental Treatment

Other treatments

Regional Overview, 2015-2025 (USD Million)


North America

U.S.

Canada

Europe

UK

Germany

France

Italy

Spain

Russia

Rest of Europe

Asia Pacific

China

Japan

India

Rest of Asia Pacific

Latin America

Mexico

Brazil

Turkey

Rest of Latin America

Middle East & Africa

GCC

Rest of MEA

Reasons for the study


The purpose of the study is to give an exhaustive outlook of the global medical tourism market

While studying the market, we observed that medical tourism for cosmetic and cancer treatment gained hefty demand

Asia Pacific is projected to be the fastest growing region as India, Singapore and Thailand offers low cost medical treatment for wide treatment types and is expected to witness lucrative growth opportunity


What does the report include?


The study on the global medical tourism market includes qualitative data analysis such as drivers, trends, and opportunities, along with competition analysis and profiles of key market players

Additionally, the market has been evaluated using Porter’s five forces analysis, and PEST analysis

The study covers quantitative as well as qualitative breakdown of the market segmented on the basis of treatment type. Moreover, the study provides similar facts for the key geographical regions

Actual market sizes and forecasts have been provided for all the above-mentioned segment

Profiles of key hospitals & medical agencies have been provided in the report


Who should buy this report?


This study is suitable for industry contributors and shareholders in the medical tourism market, who want an in-depth understanding into the advancements of the medical tourism market. The report will benefit:


Directors, and managers of various private and public hospitals that are engaged in offering various treatment such as cardiovascular treatment, cancer treatment, fertility treatment, neurological treatment, cosmetic treatment

Regulatory bodies and municipal corporations looking for innovative solutions for attending to the incoming medical tourists

Decision makers across various government and non-government panels who are looking for solutions or planning on attracting and enhancing more medical tourists

Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies

6 views0 comments