New York, United States, Nov. 01, 2022 (GLOBE NEWSWIRE) — The medical tourism market’s most prominent driver is the emergence of affordable healthcare choices, with increased quality services. Shifting patient preference towards minimally invasive and low-cost procedures and advancement in healthcare administration bolsters the market growth. Globally, the healthcare systems are offering incentives and comfortable stay with affordable plans to invite medical assistance seeking visitors.
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Impact of COVID-19
Rising cases of coronavirus across the globe have compelled the governments to enforce lockdown and seize the import-export of medical supplies. The shortage of personal protective equipment has severely impacted the medical tourism market. China has a million outbound medical tourists and wellness tourists, followed by the U.S., South Korea, and Japan. South Korea annually attracts nearly 350,000 medical visitors, with one in three arriving from China. Iran also receives 350,000 medical tourists outside SE Asia, with 90% originating from local countries and the Gulf. Italy has a limited inbound number of medical tourists, which are about 600,000.
Medical travel consultants, start-ups, and small agencies have limited budgets and cash flow and are sensitive towards fluctuations caused due to the pandemic. Several medical travel events, especially the ones scheduled during the first six months of 2020, have been cancelled or postponed, further hampering the market growth.
Report Scope
| Report Metric | Details |
| Market Size | USD 47.72 Billion by 2030 |
| CAGR | 30% (2020-2030) |
| Historical Data | 2019-2020 |
| Base Year | 2021 |
| Forecast Period | 2022-2030 |
| Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Treatment, Region |
| Geographies Covered | North America, Europe, Asia-Pacific, LAME and Rest of the World |
| Key Companies Profiled/Vendors | Asian Heart Institute, Apollo Hospitals, Prince Court Medical Center, Gleneagles Hospital, Min-Sheng General Hospital, SamitivejSukhumvit Hospital, Raffles Medical Group, Clemenceau Medical Centre, Bangkok Hospital, Bumrungrad International Hospital, Fortis Healthcare Ltd |
| Key Market Drivers | Rising demand for quality cardiovascular, plastic, orthopedic, and dental surgeries, rise demand for modern cardiovascular medical techniques |
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Regional Analysis
The Asia-Pacific region now dominates the market for medical tourism will hold its position during the projected period. The top location for medical tourism in 2019 was Thailand. Thailand’s medical tourism industry is driven by an increase in private clinics, a healthy healthcare sector, and decreasing healthcare expenses. The UAE is actively pursuing the development of its healthcare system and becoming one of the top destinations for medical travel.
Key Highlights
- The global medical tourism market size is projected to reach USD 47.72 billion by 2030 at a CAGR of 30% from 2022 to 2030.
- The cardiovascular treatment segment holds the largest share in the market
- The bariatric surgery segment is expected to grow at a significant rate due to the rising prevalence of obesity across the globe.
- Asia-Pacific leads the medical tourism market.
Key Players
- Asian Heart Institute
- Apollo Hospitals
- Prince Court Medical Center
- Gleneagles Hospital
- Min-Sheng General Hospital
- SamitivejSukhumvit Hospital
- Raffles Medical Group
- Clemenceau Medical Centre
- Bangkok Hospital
- Bumrungrad International Hospital
- Fortis Healthcare Ltd.
- Wooridul Spine Hospital
- KPJ Healthcare Berhad
- Anadolu Medical Centre
- Asklepios KlinikBarmbek
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Medical Tourism Market: Segmentation
By Treatment
-
- Cosmetic treatment
- Dental treatment
- Cardiovascular treatment
- Orthopaedic treatment
- Bariatric surgery
- Fertility treatment
- Ophthalmic treatment
By Region
-
- North America
- Europe
- Asia-Pacific
- Central and South America and the Caribbean
- The Middle-East and Africa
TABLE OF CONTENT
1 Introduction
1.1 Market Definition
1.2 Market Scope
2 Research Methodology
2.1 Primary Research
2.2 Research Methodology
2.3 Assumptions & Exclusions
2.4 Secondary Data Sources
3 Market Overview
3.1 Report Segmentation & Scope
3.2 Value Chain Analysis: Medical Tourism Market
3.3 Key Market Trends
3.3.1 Drivers
3.3.2 The Restraints
3.3.3 Opportunities
3.4 Porter’s Five Forces Analysis
3.4.1 Bargaining Power of Suppliers
3.4.2 Bargaining Power of Buyers
3.4.3 Threat of Substitution
3.4.4 Threat of New Entrants
3.4.5 Competitive Rivalry
3.5 Market Share Analysis
3.6 Technological Overview
3.7 Top Investment Pockets
3.8 Impact of COVID-19
4 Treatment Overview
4.1 Introduction
4.1.1 Market Size & Forecast (Value)
4.2 Cosmetic Treatment
4.2.1 Market Size & Forecast (Value)
4.3 Dental Treatment
4.3.1 Market Size & Forecast (Value)
4.4 Cardiovascular Treatment
4.4.1 Market Size & Forecast (Value)
4.5 Orthopedics Treatment
4.5.1 Market Size & Forecast (Value)
4.6 Bariatric Surgery
4.6.1 Market Size & Forecast (Value)
4.7 Fertility Treatment
4.7.1 Market Size & Forecast (Value)
4.8 Ophthalmic Treatment
4.8.1 Market Size & Forecast (Value)
4.9 Other Treatment
4.9.1 Market Size & Forecast (Value)
5 Regional Overview
5.1 Introduction
5.1.1 Market Size & Forecast (Value)
5.2 America
5.2.1 North America
5.2.1.1 The U.S.
5.2.1.1.1 By Treatment
5.2.1.2 Canada
5.2.1.2.1 By Treatment
5.2.1.3 Mexico
5.2.1.3.1 By Treatment
5.2.2 Central and South America and Caribbean
5.2.2.1 By Treatment
5.2.2.2.1 Brazil
5.2.2.2.1.1 By Treatment
5.2.2.2.2 Argentina
5.2.2.2.2.1 By Treatment
5.2.2.2.3 The Rest of Central and South America and the Caribbean
5.2.2.2.3.1 By Treatment
5.3 Europe
5.3.1 Market Size & Forecast (Value)
5.3.2 Western Europe
5.3.2.1 The U.K.
5.3.2.1.1 By Treatment
5.3.2.2 Germany
5.3.2.2.1 By Treatment
5.3.2.3 France
5.3.2.3.1 By Treatment
5.3.2.4 Spain
5.3.2.4.1 By Treatment
5.3.2.5 Italy
5.3.2.5.1 By Treatment
5.3.2.6 The Rest of Western Europe
5.3.2.6.1 By Treatment
5.3.3 Eastern Europe
5.3.3.1 By Treatment
5.3.4 The Rest of Europe
5.3.4.1 By Treatment
5.4 Asia-Pacific
5.4.1 Market Size & Forecast (Value)
5.4.2 Japan
5.4.2.1 By Treatment
5.4.3 China
5.4.3.1 By Treatment
5.4.4 Australia
5.4.4.1 By Treatment
5.4.5 India
5.4.5.1 By Treatment
5.4.6 South Korea
5.4.6.1 By Treatment
5.4.5 The Rest of Asia-Pacific
5.4.7.1 By Treatment
5.5 The Middle East & Africa
5.5.1 The Middle East
5.5.1.1 Market Size & Forecast (Value)
5.5.1.2 Saudi Arabia
5.5.1.2.1 By Treatment
5.5.1.3 The UAE
5.5.1.3.1 By Treatment
5.5.1.4 Qatar
5.5.1.4.1 By Treatment
5.5.2 The Africa
5.5.2.1 Market Size & Forecast (Value)
6 Company Profile
6.1 Asian Heart Institute
6.1.1 Company Overview
6.1.2 Financial Performance
6.1.3 Recent Developments
6.1.4 Treatment Portfolio
6.2 Apollo Hospitals
6.2.1 Company Overview
6.2.2 Financial Performance
6.2.3 Recent Developments
6.2.4 Treatment Portfolio
6.3 Prince Court Medical Centre
6.3.1 Company Overview
6.3.2 Financial Performance
6.3.3 Recent Developments
6.3.4 Treatment Portfolio
6.4 Gleneagles Hospital
6.4.1 Company Overview
6.4.2 Financial Performance
6.4.3 Recent Developments
6.4.4 Treatment Portfolio
6.5 Min-Sheng General Hospital
6.5.1 Company Overview
6.5.2 Financial Performance
6.5.3 Recent Developments
6.5.4 Treatment Portfolio
6.6 Samitivej Sukhumvit Hospital
6.6.1 Company Overview
6.6.2 Financial Performance
6.6.3 Recent Developments
6.6.4 Treatment Portfolio
6.7 Clemenceau Medical Centre
6.7.1 Company Overview
6.7.2 Financial Performance
6.7.3 Recent Developments
6.7.4 Treatment Portfolio
6.8 Bangkok Hospital
6.8.1 Company Overview
6.8.2 Financial Performance
6.8.3 Recent Developments
6.8.4 Treatment Portfolio
6.9 Bumrungrad International Hospital
6.9.1 Company Overview
6.9.2 Financial Performance
6.9.3 Recent Developments
6.9.4 Treatment Portfolio
6.10 Fortis Healthcare Ltd.
6.10.1 Company Overview
6.10.2 Financial Performance
6.10.3 Recent Developments
6.10.4 Treatment Portfolio
6.11 Wooridul Spine Hospital
6.11.1 Company Overview
6.11.2 Financial Performance
6.11.3 Recent Developments
6.11.4 Treatment Portfolio
6.12 KPJ Healthcare Berhad
6.12.1 Company Overview
6.12.2 Financial Performance
6.12.3 Recent Developments
6.12.4 Treatment Portfolio
6.13 Anadolu Medical Centre
6.13.1 Company Overview
6.13.2 Financial Performance
6.13.3 Recent Developments
6.13.4 Treatment Portfolio
6.14 Asklepios Klinik Barmbek
6.14.1 Company Overview
6.14.2 Financial Performance
6.14.3 Recent Developments
6.14.4 Treatment Portfolio
7 Conclusion & Recommendations
8 Acronyms & Abbreviations
Table of Content and Figure @ https://straitsresearch.com/report/medical-tourism-market/toc
Recent Developments
- In December 2019, North Korea launched medical tourism, targeting visitors from China
- In June 2019, Clearbridge Health announced the construction of 1500 sq.ft clinic in Hong Kong to cater medical tourists.
- In December 2018, American medical tourism agency PlacidWay launched the first international patient-provider direct chat application in the medical travel industry.
News Media
Asia-Pacific to Grab the Lion’s Share in the Medical Tourism Market
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