Product Code: 3022
The medical tourism market is set to register significant growth by 2030 owing to growing geriatric population worldwide. In addition, latest advancements in minimally invasive technology are likely to further support market growth through the forecast period.
The industry was negatively affected by the COVID-19 pandemic because of the resulting travel restrictions and acute shortage of medical staff across the globe. However, easing of restrictions imposed on the tourism sector is helping the market recover from the initial lull.
Recently, major players in the industry have been investing in product innovation to improve their business standing, thereby bolstering medical tourism market expansion. For instance, in July 2022, Chevala Wellness Hua Hin, a Thailand-based skin care clinic, launched a new clinic in collaboration with InterContinental Resort at the coastal resort's Bluport Mall. This clinic aimed to target high-end tourists and has added long Covid and anti-aging treatment.
The medical tourism market has been bifurcated in terms of application and region.
On the basis of application, the market has been segmented into cosmetic surgery, orthopedic surgery, fertility treatment, cardiovascular surgery, dental surgery, bariatric surgery, and oncology treatment. Among these, the cardiovascular surgery segment was valued at more than $2674.8 million in 2021 and is poised to register notable expansion through the analysis timeframe. Cardiovascular surgeries primarily include heart valve replacement, angioplasty, and insertion of a pacemaker, among other procedures.
The oncology treatment segment is projected to exceed $13,486.8 million in revenue by 2030. The oncology treatment market is foreseen to progress at a sizable pace in the future owing to rising number of cancer cases in developing as well as developed nations. With the surging number of people who are being diagnosed with cancer, the demand for cancer diagnosis and treatment will see a spike in the future. The cost of cancer therapy in developed countries is very high, and more advanced and sophisticated techniques are being used in developing nations. These factors will augment the number of foreign patients traveling in the forthcoming years.
In the regional context, the Asia Pacific medical tourism market is anticipated to observe significant growth through 2030 due to the soaring number of patients traveling to developing countries in the APAC region. The medical tourism industry in the Middle East & Africa was valued at more than $876.0 million in 2021 driven by the expanding healthcare infrastructure in countries like South Africa and UAE. Numerous government initiatives that are promoting medical tourism is set to positively impact the MEA market.
Meanwhile, the medical tourism market in the Latin America region is estimated to exhibit solid progress over the review timespan as a result of the improving financial condition and the presence of cheaper healthcare facilities than the U.S. in the LATAM region.
Table of Contents
Chapter 1 Methodology
- 1.1 Methodology
- 1.2 Market definition
- 1.3 Forecast parameters
- 1.4 Data sources
- 1.4.1 Secondary
- 1.4.1.1 Paid sources
- 1.4.1.2 Unpaid sources
- 1.4.2 Primary
Chapter 2 Executive Summary
- 2.1 Medical tourism industry 360 degree synopsis, 2017 - 2030
- 2.1.1 Business trends
- 2.1.2 Application trends
- 2.1.3 Regional trends
Chapter 3 Medical Tourism Industry Insights
- 3.1 Industry segmentation
- 3.2 Industry landscape, 2017 - 2030
- 3.3 Industry impact forces
- 3.3.1 Growth drivers
- 3.3.1.1 Low cost of medical treatment in developing countries
- 3.3.1.2 Rising awareness about medical tourism among patients
- 3.3.1.3 Availability of high-quality treatment in developing countries
- 3.3.1.4 Growing compliance towards international standard for surgical procedures
- 3.3.1.5 Ease and affordability of international travel
- 3.3.1.6 Various government policies to ease medical travel
- 3.3.2 Industry pitfalls & challenges
- 3.3.2.1 Long wait time for certain medical procedures
- 3.3.2.2 Issue with patient follow-up and post-surgery complications
- 3.4 Growth potential analysis
- 3.5 COVID-19 impact analysis
- 3.6 Porter's analysis
- 3.7 Competitive landscape, 2021
- 3.7.1 Company matrix analysis
- 3.8 PESTEL analysis
Chapter 4 Medical Tourism Market, By Application
- 4.1 Key segment trends
- 4.2 Cardiovascular surgery
- 4.2.1 Market size, by region, 2017 - 2030 (USD Million)
- 4.3 Cosmetic Surgery
- 4.3.1 Market size, by region, 2017 - 2030 (USD Million)
- 4.3.2 Hair transplant
- 4.3.2.1 Market size, by region, 2017 - 2030 (USD Million)
- 4.3.3 Breast augmentation
- 4.3.3.1 Market size, by region, 2017 - 2030 (USD Million)
- 4.3.4 Others
- 4.3.4.1 Market size, by region, 2017 - 2030 (USD Million)
- 4.4 Dental surgery
- 4.4.1 Market size, by region, 2017 - 2030 (USD Million)
- 4.5 Orthopedic surgery
- 4.5.1 Market size, by region, 2017 - 2030 (USD Million)
- 4.6 Bariatric surgery
- 4.6.1 Market size, by region, 2017 - 2030 (USD Million)
- 4.7 Fertility treatment
- 4.7.1 Market size, by region, 2017 - 2030 (USD Million)
- 4.8 Oncology treatment
- 4.8.1 Market size, by region, 2017 - 2030 (USD Million)
- 4.9 Other
- 4.9.1 Market size, by region, 2017 - 2030 (USD Million)
Chapter 5 Medical Tourism Market, By Region
- 5.1 Key regional trends
- 5.2 North America
- 5.2.1 Market size, by country, 2017 - 2030 (USD Million)
- 5.2.2 Market size, by application, 2017 - 2030 (USD Million)
- 5.2.2.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.2.3 U.S.
- 5.2.3.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.2.3.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.2.4 Canada
- 5.2.4.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.2.4.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.3 Europe
- 5.3.1 Market size, by country, 2017 - 2030 (USD Million)
- 5.3.2 Market size, by application, 2017 - 2030 (USD Million)
- 5.3.2.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.3.3 Germany
- 5.3.3.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.3.3.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.3.4 UK
- 5.3.4.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.3.4.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.3.5 France
- 5.3.5.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.3.5.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.3.6 Spain
- 5.3.6.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.3.6.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.3.7 Italy
- 5.3.7.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.3.7.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.3.8 Poland
- 5.3.8.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.3.8.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.3.9 Turkey
- 5.3.9.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.3.9.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.3.10 The Netherlands
- 5.3.10.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.3.10.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.4 Asia Pacific
- 5.4.1 Market size, by country, 2017 - 2030 (USD Million)
- 5.4.2 Market size, by application, 2017 - 2030 (USD Million)
- 5.4.2.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.4.3 India
- 5.4.3.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.4.3.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.4.4 Thailand
- 5.4.4.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.4.4.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.4.5 Singapore
- 5.4.5.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.4.5.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.4.6 Malaysia
- 5.4.6.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.4.6.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.5 Latin America
- 5.5.1 Market size, by country, 2017 - 2030 (USD Million)
- 5.5.2 Market size, by application, 2017 - 2030 (USD Million)
- 5.5.2.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.5.3 Mexico
- 5.5.3.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.5.3.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.5.4 Columbia
- 5.5.4.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.5.4.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.5.5 Costa Rica
- 5.5.5.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.5.5.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.6 MEA
- 5.6.1 Market size, by country, 2017 - 2030 (USD Million)
- 5.6.2 Market size, by application, 2017 - 2030 (USD Million)
- 5.6.2.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.6.3 South Africa
- 5.6.3.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.6.3.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.6.4 UAE
- 5.6.4.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.6.4.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
- 5.6.5 Iraq
- 5.6.5.1 Market size, by application, 2017 - 2030 (USD Million)
- 5.6.5.1.1 Market size, by cosmetic surgery, 2017 - 2030 (USD Million)
Chapter 6 Company Profiles
- 6.1 Competitive dashboard
- 6.2 Apollo Hospitals Enterprise Limited
- 6.2.1 Business overview
- 6.2.2 Financial data
- 6.2.3 Product landscape
- 6.2.4 Strategic outlook
- 6.2.5 SWOT analysis
- 6.3 Asklepios Kliniken GmbH & Co. KGaA
- 6.3.1 Business overview
- 6.3.2 Financial data
- 6.3.3 Product landscape
- 6.3.4 Strategic outlook
- 6.3.5 SWOT analysis
- 6.4 Bumrungrad International Hospital
- 6.4.1 Business overview
- 6.4.2 Financial data
- 6.4.3 Product landscape
- 6.4.4 Strategic outlook
- 6.4.5 SWOT analysis
- 6.5 Fortis Healthcare Limited
- 6.5.1 Business overview
- 6.5.2 Financial data
- 6.5.3 Product landscape
- 6.5.4 Strategic outlook
- 6.5.5 SWOT analysis
- 6.6 KPJ Healthcare Berhad
- 6.6.1 Business overview
- 6.6.2 Financial data
- 6.6.3 Product landscape
- 6.6.4 Strategic outlook
- 6.6.5 SWOT analysis
- 6.7 Manipal Hospital
- 6.7.1 Business overview
- 6.7.2 Financial data
- 6.7.3 Product landscape
- 6.7.4 Strategic outlook
- 6.7.5 SWOT analysis
- 6.8 Max Healthcare
- 6.8.1 Business overview
- 6.8.2 Financial data
- 6.8.3 Product landscape
- 6.8.4 Strategic outlook
- 6.8.5 SWOT analysis
- 6.9 Mount Elizbeth Hospitals
- 6.9.1 Business overview
- 6.9.2 Financial data
- 6.9.3 Product landscape
- 6.9.4 Strategic outlook
- 6.9.5 SWOT analysis
- 6.10 Narayana Health
- 6.10.1 Business overview
- 6.10.2 Financial data
- 6.10.3 Product landscape
- 6.10.4 Strategic outlook
- 6.10.5 SWOT analysis
- 6.11 Raffles Medical Group
- 6.11.1 Business overview
- 6.11.2 Financial data
- 6.11.3 Product landscape
- 6.11.4 Strategic outlook
- 6.11.5 SWOT analysis