The global medical tourism market size is estimated to be USD 46.96 billion in 2021 and is expected to witness a CAGR of 10.79% during the forecast period. This is owing to hassle-free and affordable international travel, growing healthcare expenses in developed countries, stringent reimbursement policies in local services, and need of quality services. Factors such as supplementary benefits in other countries, advanced technology, sophisticated devices, efficient practitioners, low cost, and better hospitality coupled with personalized care is also boosting the market growth. However, visa issues, high commissions and scams by middle men, language barriers, documentation issues, and cumbersome insurance reimbursements are expected to hinder the growth.

By Treatment

Based on treatment, the market is segmented into dental, cosmetic, orthopedic, cardiovascular, fertility, bariatric, ophthalmic, and others. In 2021, the cosmetic segment accounted for a significant revenue share owing to increasing awareness for treatment, change in customer perception for cosmetic surgeries, introduction of advanced technology, and quick procedures coupled with better results. The cardiovascular treatment segment is projected to grow at the highest CAGR during the forecast period due to rising prevalence of cardiovascular disorders.

Regional Insights

In 2021, North America was the largest revenue-grossing region in the global market owing to presence of a well-developed healthcare infrastructure, technological advancements, and rising disposable income. However, Asia Pacific is expected to grow at fastest CAGR during the forecast period.  This is due to the low medical expenditure, better hospitality, increasing visa approvals, and availability of highly trained medical practitioners with proven track records. Thailand, India, China, South Korea, Malaysia, and Singapore are the dominant regions in Asia Pacific due to the availability of advanced healthcare services at low cost in these regions.

Competitor Insights

Some of the major companies in the market are TMC Fertility (Malaysia), Sunway Medical Centre (India), Mexicali Bariatric Center (Mexico), Hospital San José (Mexico), Fortis Healthcare Limited (India), Artemis Hospital (India), Asian Heart Institute (India), Apollo Hospitals Enterprise Ltd. (India), Bangkok Dusit Medical Services (Thailand), and Yanhee International Hospital (Thailand). Increasing investment in healthcare infrastructure, introduction of new services and healthcare packages, comprehensive insurance availability, and strategic collaborations & acquisitions are some of the major strategies adopted by the leading players operating in the industry.

This exhaustive research report focuses on market size and forecast at global, segmental, regional and country level along with key market trends and dynamics from 2021 to 2029. The medical tourism market report is categorized into the following segments and subsegments:

Medical Tourism Market, By Treatment (Revenue, 2021-2029, USD Billion)

Scope of Medical Tourism Market Report:

Key Parameters	Details
Base Year	2021
Forecast Period	2022-2029
Study Coverage	Global and regional market size and revenue forecast Segment market size and revenue forecast at global, regional, and country level Competitive landscape (company share analysis, company profiles, recent development, competitive map analysis) Conclusion and recommendations
Qualitative Analysis	Market drivers Market restraints Market opportunities Recent market trends Market challenges Porter’s Five Forces analysis PEST analysis Value-chain analysis COVID-19 impact analysis
Regional Market Scope	North America (U.S. and Canada) Europe (Germany, France, UK, Spain, Italy, Russia, Rest of Europe) Asia Pacific (China, Japan, India, Australia, South Korea, Rest of APAC) Latin America (Brazil, Mexico, Argentina, Rest of LATAM) MEA (South Africa, GCC, Rest of MEA)
Company Profiles	Exhaustive profiles of top 10 players 50+ other major players listing
15% Free Customization Available	You can customize the study scope to meet your exact requirement. Click here for more details