Medical Tourism Market Trends, Key Players, DROT, Analysis & Forecast Till 2027

The global medical tourism market was worth USD 4.0 billion in 2021, and it is expected to increase at a Rate of 32.51 percent from 2022 to 2030. A few of the market’s major drivers are huge savings and extra benefits to visitors, such as improved healthcare, cutting-edge innovations, groundbreaking medicines, advanced devices, outstanding hospitality, and individualized care.

The market is expected to accelerate at a breakneck pace during the forecast period. The primary driver of market growth is the high cost of health services in home countries. In addition, the industry is being fueled by rising demand for non-covered procedures like gender reassignment, reproductive therapy, dental rebuilding, and aesthetic surgery.

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A high-quality treatment can be obtained at a lower cost in developing countries such as Thailand and Malaysia than in developed countries. Despite the fact that treatment costs are low in developing countries, the quality of the process is not compromised due to the availability of resources at lower prices. As a result of this factor, an influx of people seek health services in these nations.

Angioplasty procedures, for example, cost around USD 55,000 to USD 57,000 in the United States, compared to around USD 2,500 to USD 3,500 in Malaysia. People from the United States and Europe travel to Thailand, Singapore, India, and Malaysia for medical treatment, saving up to 70% on their treatment costs.

Furthermore, emerging countries are known for having renowned surgeons, attracting millions of patients each year for a variety of treatments. Medical treatments in Malaysia are 30% to 40% cheaper than in the United States, the United Kingdom, and other European economies.

In these countries, a large number of foreigners seek facial aesthetics procedures, dental implants, breast implants, facelifts, and liposuction. The global market will be driven by improvements in medical infrastructure and the access to high healthcare services at reasonable prices.

Key Market Segments

By Treatment Type

• Dental Treatment
• Cosmetic Treatment
• Cardiovascular Treatment
• Orthopedic Treatment
• Neurological Treatment
• Cancer Treatment
• Fertility Treatment
• Other Treatments

By Region

• U.S.
• Canada
• Mexico
• Germany
• France
• UK
• Italy
• Spain
• Rest of Europe
• India
• China
• Indonesia
• Singapore
• Malaysia
• Thailand
• South Korea
• Taiwan
• Rest of Asia-Pacific
• Brazil
• Venezuela
• Costa Rica
• UAE
• South Africa
• Rest of LAMEA

Competitive Landscape

• Bumrungrad International Hospital (Thailand)
• CHRISTUS MUGUERZA (Mexico)
• Samitivej PCL (Thailand), Schön-Kliniken (Germany)
• Gleneagles Global Hospitals Group (India)
• Prince Court Medical Centre (Malaysia)
• Anadolu Medical Center (Turkey)
• Shouldice Hospital (Canada)
• Bangkok Hospital (Thailand)
• Fortis Healthcare (India),
• Clemenceau Medical Center (Lebanon)
• Asklepios Kliniken Verwaltungsgesellschaft mbH (Germany)

Regional Classification

During the forecast period, the European medical tourism market is expected to grow at a rate of more than 11.7 percent. The availability of cutting-edge technologies and hospital instruments, which are uncommon in developing countries, is a major factor driving future growth. In addition, in comparison to the United States, the European Union’s medical device approval process is much faster. Furthermore, countries like Turkey and Poland are world-class medical tourism destinations. This is due to a shortage of skilled surgeons and other medical personnel.

In the Asia-Pacific region, Japan controls the majority of the market. This is due to lower cost of treatment and good healthcare services available in Japan. In contrast, Japan has a number of medical centres that cater to international visitors.

Industry News

Athina Global Health has launched the global medical value transportation services in collaboration with Liberty International Tourism Group.

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