The global inbound medical tourism market size was valued at USD 89.8 billion in 2023. It is expected to reach USD 364.7 million by 2034. It is projected to rise at a CAGR of close to 17.9% over the forecast period 2024 to 2034. The inbound healthcare tourism market growth is estimated to attain around USD 102.8 million in 2024.
The growing penetration of the internet has enabled improved awareness of medical tourism worldwide. The availability of several websites from medical tourism companies is set to provide easy access to a lot of information with respect to the visa, medical assistance, discounted offers in top hospitals, and much more.
Since this information is so easy to access, patients can educate themselves as well as their acquaintances and family members. This is further expected to improve awareness regarding medical tourism, even in developing countries.
It is through the power of the internet and word of mouth that awareness of medical tourism activities is improving. Patients are now keen to discuss advantages as well as disadvantages with respect to medical tourism.
Key Inbound Medical Tourism Market Trends
| Key Market Attributes | Details |
|---|---|
| Inbound Medical Tourism Market Anticipated Size (2023A) | USD 89.8 billion |
| Estimated Inbound Medical Tourism Market Size (2024E) | USD 102.8 million |
| Projected Inbound Medical Tourism Market Size (2034F) | USD 364.7 million |
| Value-based CAGR (2024 to 2034) | 17.9% |
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Over the last decade, the inbound medical tourism market has experienced significant evolution, driven by several factors that have reshaped the landscape of global healthcare. One notable trend has been the increased awareness and acceptance of medical tourism as a viable option for individuals seeking quality healthcare services at more affordable costs.
Technological advancements, particularly in telemedicine and digital health solutions, have facilitated easier communication between patients and healthcare providers across borders. These are expected to help in streamlining the pre-travel consultation process and post-treatment follow-up.
The globalization of healthcare services has also led to the emergence of destination countries. This has helped in strategically positioning themselves as medical tourism hubs, offering state-of-the-art facilities and specialized medical expertise.
The market has witnessed a diversification of services, with a growing focus on wellness and preventive care alongside traditional medical treatments. Moreover, the COVID-19 pandemic has accelerated the adoption of virtual consultations and digital health platforms. This has allowed patients to get access to medical opinions remotely, which would make medical tourism a more accessible and flexible option.
Despite challenges related to travel restrictions and health concerns, the inbound medical tourism market has demonstrated resilience. It has been adapting to changing circumstances and continuing to attract patients seeking a combination of cost-effective and high-quality healthcare experiences globally.
The rising healthcare spending and growing prevalence of chronic disorders are further projected to boost medical tourism destinations. The market is anticipated to expand at a CAGR of 17.9% throughout the forecast period.
The rising number of qualified medical doctors is essential for the growth of the inbound medical tourism market. This is projected to create new opportunities for broadening the field of medical tourism. The patients would want to consider only those healthcare professionals who are well-versed with the skills and techniques used in the required surgical procedures.
According to data from the World Health Organization (WHO), the number of medical doctors per 10,000 population has increased in several countries around the globe. For instance, the number of medical doctors (per 10,000) in Chile was 26.61 in 2019, which increased to 28.35 in 2020.
The same number increased from 28.94 in 2018 to 33.01 in 2020 in Costa Rica. In Hungary, the number surged from 35.25 in 2019 to 60.64 in 2020. This is an encouraging factor for the healthcare tourism market growth.
In certain countries, a handful of procedures in the field of assisted reproduction have been prohibited due to the implementation of stringent laws. Countries where there are no rules associated with such procedures are anticipated to gain new opportunities.
A specific percentage of the population who faces difficulties in the natural process of reproduction are not able to opt for IVF procedures in their own countries due to strict rules. To fulfil their desire of having children, they are likely to consider options for fertility tourism. This would help them to eliminate any obligations to not go forward with fertility treatments such as IVF.
For countries providing fertility tourism, such as Peru, Switzerland, the Czech Republic, and Thailand, the key target markets are those where there are restrictions on the field of assisted reproduction. A handful of these countries include Germany, Austria, and Italy.
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Restrictive Factors
Language barriers are one of the most crucial barriers that can restrict patients in choosing a medical travel destination. Patients will want to consider doctors who know their language. This is because for the treatments to be carried out successfully, communication between the patients and the healthcare professionals should be smooth and fluent.
Starting from the day when the medical tourist reaches the destination country, the possibility of encountering language barriers increases if the patients do not know the native language. Language barriers can be exhausting for these patients as they are not able to make the other person understand what they want to say.
It can also create a high need for extra expenditure on translators to ensure smooth communication with healthcare professionals. Such practical complications can also hinder the growth of the global inbound medical tourism market.
When it comes to patients in developed countries, they are very much habituated to the insurance schemes that healthcare systems offer in their home countries. There are public as well as private insurance companies that cover the cost of healthcare.
When considering medical tourism, the coverage of insurance policies is quite limited, leading to the patient having to pay out of their own pocket. Despite several advantages of inbound medical tourism, multiple patients can forgo the same due to the need to pay out of their own pocket. This is a key restraint for the global inbound medical travel industry outlook.
The section below highlights the CAGRs of the leading countries in the inbound medical tourism market. The three main countries pushing sales of tourism industry include India, Singapore, and Taiwan.
According to the analysis, India is set to lead the healthcare tourism market growth by showcasing a CAGR of 17.4% in the forecast period. The country is anticipated to be followed by Singapore and Taiwan, with CAGRs of 16.6% and 15.9%, respectively.
| Countries | Value CAGR |
|---|---|
| Hungary | 8.8% |
| Singapore | 16.6% |
| Colombia | 4.7% |
| India | 17.4% |
| Taiwan | 15.9% |
Hungary has been one of the most profitable markets, holding a share of 16.5% in 2023 in the global inbound medical travel industry. Hungary’s inbound medical tourism market is expected to register a CAGR of 8.8% during the forecast period. This is owing to the ongoing improvements of medical facilities in the country with the launch of unique medical services and medical equipment.
Hungary has emerged as a burgeoning hotspot for inbound medical tourism in recent years. This trend can be attributed to significant advancements in both medical services and equipment.
The country has invested substantially in upgrading its healthcare infrastructure, incorporating cutting-edge technologies, and launching state-of-the-art medical equipment. This commitment to technological innovation has enhanced the quality of medical care.
It has also positioned Hungary as a competitive destination for international patients seeking a wide range of medical treatments. The utilization of advanced diagnostic tools, minimally invasive surgical techniques, and specialized medical procedures has played a pivotal role in attracting individuals from abroad.
Singapore is projected to be the most attractive inbound medical tourism market in 2023, accounting for a share of around 12.9%. The country has earned recognition across Asia Pacific for delivering top-tier, all-encompassing healthcare services, spanning from health screenings to surgical procedures.
Singapore boasts well-trained medical specialists and state-of-the-art facilities, making it a prominent player in the inbound medical tourism sector. According to the 2020 to 2021 Medical Tourism Index by the Medical Tourism Association, Singapore secured the second position overall and claimed the top spot for the quality of healthcare facilities & services.
The country appeals to premium medical tourists in Asia Pacific who prioritize superior healthcare treatment services over cost considerations. Furthermore, the substantial disposable income and formidable spending power of these visitors would positively impact Singapore's upper-end retail market, contributing to its recovery.
Colombia is projected to generate an inbound medical tourism market share of around 12.4% in 2023. The country has rapidly ascended as one of the swiftly growing hubs for medical tourism worldwide.
The nation's allure to inbound medical tourists is rooted in its advanced healthcare infrastructure and biotechnological advancements. It is also attributed to a cadre of highly proficient physicians who extend their services to international patients at competitive rates.
Offering a spectrum of medical procedures, Colombia's healthcare establishments cover areas such as cardiovascular treatments, bariatric procedures, orthopedics, cosmetic surgery, dental care, and fertility treatments. The country’s government has proactively championed medical tourism, positioning Columbia as a sought-after destination for top-notch medical services.
The strategic positioning has been achieved through the implementation of effective economic policies, meticulous regulations, and unique digital marketing efforts. Consequently, medical travel facilitators have emerged as a substantial contributor to Colombia's economic revenue. The Colombian Ministry of Industry and Tourism, responsible for regulating medical tourism, anticipates a considerable influx of at least 2.8 million health tourists.
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The tables below showcase the growth rates of leading segments in the inbound medical tourism market. In terms of treatment type, the cardiovascular treatment segment will likely witness a CAGR of 14.3% in the estimated period. Based on service type, the wellness service segment is set to exhibit a CAGR of 17.0% from 2024 to 2034.
| Treatment Type | Value CAGR |
|---|---|
| Dental Treatment | 10.0% |
| Cosmetics Treatment | 13.8% |
| Cardiovascular Treatment | 14.3% |
| Orthopedic Treatment | 11.9% |
| Neurological Treatment | 18.0% |
| Cancer Treatment | 22.2% |
| Fertility Treatment | 24.0% |
| Other Treatments | 19.8% |
| Service Type | Value CAGR |
|---|---|
| Wellness Service | 17.0% |
| Therapeutic Service | 12.7% |
| Customer Orientation | Value CAGR |
|---|---|
| Men | 11.9% |
| Women | 16.5% |
| Children | 4.0% |
| Age Group | Value CAGR |
|---|---|
| <15 Years | 3.4% |
| 15 to 30 Years | 15.2% |
| 31 to 45 Years | 12.9% |
| 46 to 60 Years | 9.7% |
| 60 Years & Above | 20.0% |
The orthopedic treatment segment accounted for a dominant share of 34.8% in 2023. The increasing prevalence of orthopedic disorders worldwide is fostering the expansion of orthopedic treatment in the inbound medical tourism market. As orthopedic conditions become more widespread, there is a growing demand for specialized treatments and procedures offered by medical tourism destinations.
The therapeutic service segment held a market share of 82.5% in 2023. The heightened demand for therapeutic services compared with wellness services in the inbound medical tourism market can be attributed to several factors.
Individuals seeking medical tourism often prioritize therapeutic services due to the necessity of addressing specific health conditions. They also look for undergoing medical procedures that require specialized attention.
Patients can travel internationally to receive treatments such as surgeries, cardiovascular interventions, orthopedic procedures, or other medical interventions. These are not only essential but also require the expertise of highly skilled medical professionals.
The men segment is expected to lead the global inbound medical tourism market with a share of 50.2% in 2023 by customer orientation. Societal norms and expectations, along with a potential willingness to take risks in seeking new medical technologies, could influence men's decisions to engage in medical tourism more frequently than women.
Work-related travel opportunities can also contribute to the observed gender discrepancy in inbound medical tourism. However, individual choices and circumstances play a crucial role, and women also actively participate in medical tourism for several healthcare needs.
Based on age group, the 46 to 60 years segment is anticipated to dominate the inbound medical tourism market with a share of 28.8% in 2023. Individuals belonging to this age are more prone to several health issues and chronic conditions that require immediate medical attention. Seeking treatment abroad allows them to access specialized care, advanced medical procedures, and experienced healthcare professionals.
Leading inbound medical tourism service providers regularly employ innovative, collaborative, and effective business expansion strategies. In order to improve patient care and reaction times, they first invest in modern equipment and training.
They are also increasing their reach and raising the standard of their services. They are doing so by forming cooperative relationships with insurers, government organizations, and healthcare facilities.
For instance,
| Attribute | Details |
|---|---|
| Estimated Inbound Medical Tourism Market Value (2024) | USD 102.8 million |
| Projected Inbound Medical Tourism Market Value (2034) | USD 364.7 million |
| Value-based CAGR (2024 to 2034) | 17.9% |
| Forecast Period | 2024 to 2034 |
| Historical Data Available for | 2019 to 2023 |
| Inbound Medical Tourism Market Analysis | USD million for Value |
| Key Regions Covered | Americas; Europe; Asia; Middle East |
| Key Countries Covered | Hungary, Singapore, Colombia, India, Taiwan, Malaysia, Türkiye, United Arab Emirates, Poland, South Korea, Mexico, France, Germany, Vietnam, Spain, Philippines, Thailand, Chile, Croatia, United Kingdom, Switzerland, Peru, Czech Republic, Guatemala, Costa Rica, Romania, Italy. |
| Key Segments Covered | Treatment Type, Service Type, Customer Orientation, Age Group, Booking Channel, and Region |
| Key Companies Profiled in Inbound Medical Tourism Market | Fortis Healthcare Limited; Medretreat; Apollo Hospitals; KPJ Healthcare Behard; Klinikum Medical Link; BB Health Solutions; Aditya Birla Memorial Hospital; NTT Medical Center Tokyo; Prince Court Medical Centre; Anionia Medical Travel; Careful Trip; MediCzech; Metta Health; PRAGA MEDICA HEALTHCARE S.R.O.; A Health trip; Rockyview General Hospital; Toronto General Hospital; Manipal Hospital; Hospital CIMA Hermosillo; Teknon Medical Center; Anadolu Medical Center |
| Inbound Medical Tourism Market Report Coverage | Market Forecast, Competition Intelligence, Market Dynamics and Challenges, Strategic Growth Initiatives |
The inbound medical tourism market is set to reach US$ 364.7 million by 2034.
Availability of precision medicine and nutritional guidance.
It refers to the practice of people going abroad for medical operations or treatment.
The inbound medical tourism market was valued at US$ 102.8 million in 2024.
Integration of telemedicine, technological advancements, and improved patient experiences.
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Value Added Insights 5. Market Background 6. Global Market Demand (in Value or Size in US$ million) Analysis 2019 to 2023 and Forecast, 2024 to 2034 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Treatment Type 7.1. Dental treatment 7.2. Cosmetics Treatment 7.3. Cardiovascular Treatment 7.4. Orthopedic Treatment 7.5. Neurological Treatment 7.6. Cancer Treatment 7.7. Fertility Treatment 7.8. Other Treatments 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Service Type 8.1. Wellness Service 8.2. Therapeutic Service 9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Customer Orientation 9.1. Men 9.2. Women 9.3. Children 10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Age Group 10.1. <15 Years 10.2. 15 to 30 Years 10.3. 31 to 45 Years 10.4. 46 to 60 Years 10.5. 60 Years & Above 11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Booking Channel 11.1. Phone Booking 11.2. Online Booking 11.3. In Person Booking 12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 12.1. America 12.2. Europe 12.3. Asia 12.4. Middle East 13. America Market Analysis 2019 to 2023 and Forecast 2024 to 2034 14. Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034 15. Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034 16. Middle East Market Analysis 2019 to 2023 and Forecast 2024 to 2034 17. Competition Analysis 17.1. Fortis Healthcare Limited 17.2. Medretreat 17.3. Apollo Hospitals 17.4. KPJ Healthcare Behard 17.5. Klinikum Medical Link 17.6. BB Health Solution 17.7. Aditya Birla Memorial Hospital 17.8. NTT Medical Center Tokyo 17.9. Prince Court Medical Centre 17.10. Anionia Medical Travel 17.11. Careful Trip 17.12. MediCzech 17.13. Metta Health 17.14. PRAGA MEDICA HEALTHCARE S.R.O. 17.15. A Health trip 17.16. Rockyview General Hospital 17.17. Toronto General Hospital 17.18. Manipal Hospital 17.19. Hospital CIMA Hermosillo 17.20. Teknon Medical Center 17.21. Anadolu Medical Center 18. Assumptions and Acronyms 19. Research Methodology
Healthcare
November 2016
REP-NA-2158
111 pages
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Inbound Medical Tourism Market
