Medical Tourism Market Report 2023

Medical Tourism Global Market Report 2023 – By Treatment Type (Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics Treatment, Bariatric Treatment, Fertility Treatment, Opthalmic Treatment, Other Treatments), By Type (Domestic, International), By Healthcare Service (Medical Treatment, Wellness, Alternative Treatment),By Service Providers(Public, Private) – Market Size, Trends, And Global Forecast 2023-2032

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Medical tourism is the process of travelling to another country solely for the reasons of medical treatment. It is useful for people living in countries where appropriate medical facilities are not available.

The main types of medical tourism are domestic and international. Domestic health or medical tourism is when a person travels from his or her regular place of residence to another inside the state in order to receive better medical treatment or because the therapy available in his or her usual place of residence is too expensive. The different treatment types include cosmetic treatment, dental treatment, cardiovascular treatment, orthopedics treatment, bariatric treatment, fertility treatment, opthalmic treatment, others and involves various service providers such as public, private. The several healthcare services include medical treatment, wellness, alternative treatment.

The medical tourism market research report is one of a series of new reports from The Business Research Company that provides medical tourism market statistics, including medical tourism industry global market size, regional shares, competitors with a medical tourism market share, detailed medical tourism market segments, market trends and opportunities, and any further data you may need to thrive in the medical tourism industry. This medical tourism market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The global medical tourism market size will grow from $35.77 billion in 2022 to $39.95 billion in 2023 at a compound annual growth rate (CAGR) of 11.7%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The global medical tourism market size is expected to grow to $59.67 billion in 2027 at a CAGR of 10.5%.

High healthcare cost in developed countries is driving growth in the medical tourism market as developing countries are able to provide cheaper treatment. Patients usually travel to developing countries with quality healthcare infrastructure and low healthcare costs. According to a study conducted by the Centres for Disease Control and Prevention, approximately 0.75 -1.6 million people from the USA travel out of the country for medical care to avoid high treatment cost. For instance, a hip replacement surgery in the USA costs approximately $39,299 while the same surgery in India, Costa Rica or other developing countries would cost between $7000 and $15,000 including logistics.

The coronavirus disease (COVID-19) outbreak is to act as a major restraint for the growth of the medical tourism industry during 2020 and 2021. According to the World Health Organization’s report, 213 countries are affected by the COVID-19 outbreak including countries with a high number of medical tourists such as the USA, China, Japan, and South Korea. The government of various countries has banned travellers from affected countries, barred flights to certain countries, and changed the visa requirements. The American Centres for Disease Control and Prevention (CDC) predicted that the situation could last into 2021 and is likely to impact the medical tourism industry significantly. Therefore, the coronavirus outbreak and travel bans are expected to restrict the growth of the medical tourism industry in the near future.

Patients traveling across countries for medical treatment are increasingly using electronic health records to store information related to health in digital format. An electronic health record is the systematic collection of patient health and medical examination reports stored electronically. These health records can be accessed instantly and securely by authorized users. Electronic health records eliminate the need to carry heavy medical records for patients travelling long distances for treatment. Some of the major electronic health records software include eClinicalWorks, Allscripts, Cerner.

In September 2020, IHH Healthcare, a Malaysian–Singaporean private healthcare group focused on upmarket health services acquired Prince Court Medical Centre for $0.25 billion. Through this acquisition, Prince Court Medical Centre will complement IHH's cluster strategy of having specialized tertiary hospitals in Kuala Lumpur. Prince Court Medical Centre is a private healthcare facility located in the heart of Kuala Lumpur, Malaysia.

Major players in the medical tourism market are Apollo Hospital Enterprise Limited, Prince Court Medical Centre, Bumrungrad International Hospital, KPJ Healthcare Berhad, Fortis Health Ltd., Raffles Medical Group, Bangkok Hospital Medical Centre, Samitivej PCL., Min-Sheng General Hospital and Asian Heart Institute.

North America was the largest region in the medical tourism market in 2022. Western Europe was the second largest region in the global medical tourism market. The regions covered in the global medical tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa.

The countries covered in the medical tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

The medical tourism market includes revenues earned by entites by providing inbound medical tourism services, and outbound medical tourism services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values – that is, they are revenues generated by organizations in the specified geography within the specified market, irrespective of where they are produced.It does not include revenues from resales either further along the supply chain or as part of other products.

The global medical tourism market is segmented -

1) By Treatment Type: Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics Treatment, Bariatric Treatment, Fertility Treatment, Opthalmic Treatment, Other Treatments

2) By Type: Domestic, International

3) By Healthcare Service: Medical Treatment, Wellness, Alternative Treatment

4) By Service Providers: Public, Private

    Table Of Contents

    1. Executive Summary

    2. Medical Tourism Market Characteristics

    3. Medical Tourism Market Trends And Strategies

    4. Medical Tourism Market – Macro Economic Scenario

    4.1 COVID-19 Impact On Medical Tourism Market

    4.2 Ukraine-Russia War Impact On Medical Tourism Market

    4.3 Impact Of High Inflation On Medical Tourism Market

    5. Medical Tourism Market Size And Growth

    5.1. Global Medical Tourism Historic Market, 2017-2022, $ Billion

    5.1.1. Drivers Of The Market

    5.1.2. Restraints On The Market

    5.2. Global Medical Tourism Forecast Market, 2022-2027F, 2032F, $ Billion

    5.2.1. Drivers Of The Market

    5.2.2. Restraints On the Market

    6. Medical Tourism Market Segmentation

    6.1. Global Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Cosmetic Treatment

    Dental Treatment

    Cardiovascular Treatment

    Orthopedics Treatment

    Bariatric Treatment

    Fertility Treatment

    Opthalmic Treatment

    Others

    6.2. Global Medical Tourism Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Domestic

    International

    6.3. Global Medical Tourism Market, Segmentation By Healthcare Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Medical Treatment

    Wellness

    Alternative Treatment

    6.4. Global Medical Tourism Market, Segmentation By Service Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    Public

    Private

    7. Medical Tourism Market Regional And Country Analysis

    7.1. Global Medical Tourism Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    7.2. Global Medical Tourism Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    8. Asia-Pacific Medical Tourism Market

    8.1. Asia-Pacific Medical Tourism Market Overview

    Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies

    8.2. Asia-Pacific Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    9. China Medical Tourism Market

    9.1. China Medical Tourism Market Overview

    9.2. China Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F,$ Billion

    10. India Medical Tourism Market

    10.1. India Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    11. Japan Medical Tourism Market

    11.1. Japan Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    12. Australia Medical Tourism Market

    12.1. Australia Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    13. Indonesia Medical Tourism Market

    13.1. Indonesia Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    14. South Korea Medical Tourism Market

    14.1. South Korea Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    15. Western Europe Medical Tourism Market

    15.1. Western Europe Medical Tourism Market Overview

    15.2. Western Europe Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    16. UK Medical Tourism Market

    16.1. UK Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    17. Germany Medical Tourism Market

    17.1. Germany Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    18. France Medical Tourism Market

    18.3. France Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    19. Eastern Europe Medical Tourism Market

    19.1. Eastern Europe Medical Tourism Market Overview

    19.2. Eastern Europe Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    20. Russia Medical Tourism Market

    20.1. Russia Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    21. North America Medical Tourism Market

    21.1. North America Medical Tourism Market Overview

    21.2. North America Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    22. USA Medical Tourism Market

    22.1. USA Medical Tourism Market Overview

    22.2. USA Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    23. South America Medical Tourism Market

    23.1. South America Medical Tourism Market Overview

    23.2. South America Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    24. Brazil Medical Tourism Market

    24.1. Brazil Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    25. Middle East Medical Tourism Market

    25.1. Middle East Medical Tourism Market Overview

    25.2. Middle East Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    26. Africa Medical Tourism Market

    26.1. Africa Medical Tourism Market Overview

    26.2. Africa Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion

    27. Medical Tourism Market Competitive Landscape And Company Profiles

    27.1. Medical Tourism Market Competitive Landscape

    27.2. Medical Tourism Market Company Profiles

    27.2.1. Apollo Hospital Enterprise Limited

    27.2.1.1. Overview

    27.2.1.2. Products and Services

    27.2.1.3. Strategy

    27.2.1.4. Financial Performance

    27.2.2. Prince Court Medical Center

    27.2.2.1. Overview

    27.2.2.2. Products and Services

    27.2.2.3. Strategy

    27.2.2.4. Financial Performance

    27.2.3. Bumrungrad International Hospital

    27.2.3.1. Overview

    27.2.3.2. Products and Services

    27.2.3.3. Strategy

    27.2.3.4. Financial Performance

    27.2.4. KPJ Healthcare Berhad

    27.2.4.1. Overview

    27.2.4.2. Products and Services

    27.2.4.3. Strategy

    27.2.4.4. Financial Performance

    27.2.5. Fortis Health Ltd

    27.2.5.1. Overview

    27.2.5.2. Products and Services

    27.2.5.3. Strategy

    27.2.5.4. Financial Performance

    28. Key Mergers And Acquisitions In The Medical Tourism Market

    29. Medical Tourism Market Future Outlook and Potential Analysis

    30. Appendix

    30.1. Abbreviations

    30.2. Currencies

    30.3. Historic And Forecast Inflation Rates

    30.4. Research Inquiries

    30.5. The Business Research Company

    30.6. Copyright And Disclaimer

List Of Tables

    Table 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Table 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Table 3: Global Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 4: Global Medical Tourism Market, Segmentation By Healthcare Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 5: Global Medical Tourism Market, Segmentation By Service Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 6: Global Medical Tourism Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 7: Global Medical Tourism Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 8: Global Medical Tourism Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 9: Asia-Pacific, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 10: China, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 11: India, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 12: Japan, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 13: Australia, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 14: Indonesia, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 15: South Korea, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 16: Western Europe, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 17: UK, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 18: Germany, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 19: France, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 20: Eastern Europe, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 21: Russia, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 22: North America, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 23: USA, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 24: South America, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 25: Brazil, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 26: Middle East, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 27: Africa, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Table 28: Apollo Hospital Enterprise Limited Financial Performance
  • Table 29: Prince Court Medical Center Financial Performance
  • Table 30: Bumrungrad International Hospital Financial Performance
  • Table 31: KPJ Healthcare Berhad Financial Performance
  • Table 32: Fortis Health Ltd Financial Performance

List Of Figures

    Figure 1: Global Historic Market Growth, 2017-2022, $ Billion
  • Figure 2: Global Forecast Market Growth, 2022-2027F, 2032F, $ Billion
  • Figure 3: Global Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 4: Global Medical Tourism Market, Segmentation By Healthcare Service, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 5: Global Medical Tourism Market, Segmentation By Service Provider, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 6: Global Medical Tourism Market, Segmentation By Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 7: Global Medical Tourism Market, Split By Region, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 8: Global Medical Tourism Market, Split By Country, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 9: Asia-Pacific, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 10: China, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 11: India, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 12: Japan, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 13: Australia, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 14: Indonesia, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 15: South Korea, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 16: Western Europe, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 17: UK, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 18: Germany, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 19: France, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 20: Eastern Europe, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 21: Russia, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 22: North America, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 23: USA, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 24: South America, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 25: Brazil, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 26: Middle East, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 27: Africa, Medical Tourism Market, Segmentation By Treatment Type, Historic and Forecast, 2017-2022, 2022-2027F, 2032F, $ Billion
  • Figure 28: Apollo Hospital Enterprise Limited Financial Performance
  • Figure 29: Prince Court Medical Center Financial Performance
  • Figure 30: Bumrungrad International Hospital Financial Performance
  • Figure 31: KPJ Healthcare Berhad Financial Performance
  • Figure 32: Fortis Health Ltd Financial Performance
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