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.
Global Medical Tourism Market Size (USD Billion), 2021-2029
Source: Erevna Healthcare
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)
- Dental
- Cosmetic
- Orthopaedic
- Cardiovascular
- Fertility
- Bariatric
- Ophthalmic
- Others
Medical Tourism Market, By Region (Revenue, 2021-2029, USD Billion)
- North America
- US
- 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
- Middle East & Africa
- South Africa
- Saudi Arabia
- Rest of MEA
Scope of Medical Tourism Market Report:
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Table of Contents: Medical Tourism Market 2021-2029
- Research Methodology
- Study Objectives
- Study Scope
- Research Assumptions
- Research Framework
- Research Models
- Bottom-up Approach
- Top-down Approach
- Data Triangulation
- Data Procurement
- Internal Database
- Secondary Research
- Purchased Database
- Primary Research
- Data Analysis
- Data Validation
- Market Size Estimation
- Market Forecast Model
- Quality Assessment
- Research Models
- Introduction: Medical Tourism
- Executive Summary
- Global Market Scenario
- Segment Market Scenario
- Geographic Market Scenario
- COVID-19 Impact
- Competitive Landscape
- Market Dynamics
- Market Drivers
- Driver 1
- Driver 2
- Driver 3
- Driver 4
- Driver 5
- Market Restraint
- Restraint 1
- Restraint 2
- Restraint 3
- Restraint 4
- Market Opportunities
- Opportunity 1
- Opportunity 2
- Opportunity 3
- Opportunity 4
- Market Trends
- Trend 1
- Trend 2
- Trend 3
- Trend 4
- Market Challenges
- Challenge 1
- Challenge 2
- Challenge 3
- Challenge 4
- Market Drivers
- Market Environment Analysis
- Porter’s 5 Forces Analysis
- PESTEL Analysis
- Value Chain Analysis
- SWOT Analysis
- Benchmark
- COVID-19 Impact Analysis: Medical Tourism Market
- COVID-19: Overview
- COVID-19 Impact on the Global Market
- COVID-19 Impact on the Regional Markets
- Market Analysis by Treatment type
- Cosmetic treatment
- Cosmetic treatment Market Forecast, 2021-2029 (USD Million)
- Dental treatment
- Dental treatment Market Forecast, 2021-2029 (USD Million)
- Orthopedic treatment
- Orthopedic treatmentl Market Forecast, 2021-2029 (USD Million)
- Neurological treatment
- Neurological treatment Market Forecast, 2021-2029 (USD Million)
- Cancer treatment
- Cancer treatment Market Forecast, 2021-2029 (USD Million)
- Fertility treatment
- Fertility treatment Market Forecast, 2021-2029 (USD Million)
- Cardiovascular treatment
- Cardiovascular treatment Market Forecast, 2021-2029 (USD Million)
- Other treatment
- Other treatment Market Forecast, 2021-2029 (USD Million)
- Cosmetic treatment
- Regional Market Analysis
- Regional Market Trends
- Regional Market: Comparative Analysis
- North America Medical Tourism Market
- North America Medical Tourism Market
- North America Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- S. Medical Tourism Market
- S. Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Canada Medical Tourism Market
- Canada Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Canada Market Size and Forecast, 2021-2029 (USD Million)
- S. Market Size and Forecast, 2021-2029 (USD Million)
- North America Market Size and Forecast, 2021-2029 (USD Million)
- North America Medical Tourism Market
- Europe Medical Tourism Market
- Europe Medical Tourism Market
- Europe Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Germany Medical Tourism Market
- Germany Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- UK Medical Tourism Market
- UK Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- France Medical Tourism Market
- France Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Spain Medical Tourism Market
- Spain Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Italy Medical Tourism Market
- Italy Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Rest of Europe Medical Tourism Market
- Rest of Europe Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Rest of Europe Market Size and Forecast, 2021-2029 (USD Million)
- Italy Market Size and Forecast, 2021-2029 (USD Million)
- Spain Market Size and Forecast, 2021-2029 (USD Million)
- France Market Size and Forecast, 2021-2029 (USD Million)
- UK Market Size and Forecast, 2021-2029 (USD Million)
- Germany Market Size and Forecast, 2021-2029 (USD Million)
- Europe Market Size and Forecast, 2021-2029 (USD Million)
- Europe Medical Tourism Market
- Asia Pacific Medical Tourism Market
- Asia Pacific Medical Tourism Market
- Asia Pacific Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Japan Medical Tourism Market
- Japan Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- China Medical Tourism Market
- China Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- India Medical Tourism Market
- India Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- South Korea Medical Tourism Market
- South Korea Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Australia Medical Tourism Market
- Australia Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Rest of Asia Pacific Medical Tourism Market
- Rest of Asia Pacific Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Rest of Asia Pacific Market Size and Forecast, 2021-2029 (USD Million)
- Australia Market Size and Forecast, 2021-2029 (USD Million)
- South Korea Market Size and Forecast, 2021-2029 (USD Million)
- India Market Size and Forecast, 2021-2029 (USD Million)
- China Market Size and Forecast, 2021-2029 (USD Million)
- Japan Market Size and Forecast, 2021-2029 (USD Million)
- Asia Pacific Market Size and Forecast, 2021-2029 (USD Million)
- Asia Pacific Medical Tourism Market
- Latin America Medical Tourism Market
- Latin America Medical Tourism Market
- Latin America Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Brazil Medical Tourism Market
- Brazil Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Mexico Medical Tourism Market
- Mexico Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Argentina Medical Tourism Market
- Argentina Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Rest of Latin America Medical Tourism Market
- Rest of Latin America Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Rest of Latin America Market Size and Forecast, 2021-2029 (USD Million)
- Argentina Market Size and Forecast, 2021-2029 (USD Million)
- Mexico Market Size and Forecast, 2021-2029 (USD Million)
- Brazil Market Size and Forecast, 2021-2029 (USD Million)
- Latin America Market Size and Forecast, 2021-2029 (USD Million)
- Latin America Medical Tourism Market
- MEA Medical Tourism Market
- MEA Medical Tourism Market
- MEA Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- GCC Medical Tourism Market
- GCC Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- South Africa Medical Tourism Market
- South Africa Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Rest of MEA Medical Tourism Market
- Rest of MEA Market Size and Forecast, 2021-2029 (USD Million)
- Market Size and Forecast by Treatment type, 2021-2029 (USD Million)
- Rest of MEA Market Size and Forecast, 2021-2029 (USD Million)
- South Africa Market Size and Forecast, 2021-2029 (USD Million)
- GCC Market Size and Forecast, 2021-2029 (USD Million)
- MEA Market Size and Forecast, 2021-2029 (USD Million)
- MEA Medical Tourism Market
- Competitor Analysis
- Market Share Analysis, 2021-2029
- Competitive Mapping
- Key Players Market Place Analysis
- Major Recent Developments
- Company Profiles
- Canopy Growth Corporation (Canada)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Aurora Cannabis Inc. (Canada)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- MedMen (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Terra Tech Corp. (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Aphria Inc. (Canada)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- VIVO Cannabis Inc. (Canada)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- The Cronos Group (Canada)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- The Cronos Group (Canada)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Medical Marijuana Inc. (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- STENOCARE (Denmark)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Tikun Olam (Israel)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Organigram Holdings Inc. (Canada)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Cresco Labs (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Indiva (Canada)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Curaleaf Holding Inc. (US)
- Company Snapshot
- Company Overview
- Financials
- Product Benchmarking
- Recent Developments
- Others Prominent Players
- Canopy Growth Corporation (Canada)
- Conclusion & Recommendations