Outbound medical tourism in North America is rising substantially as a result of an increasing number of people from the region opting for cross border treatment. Cross border countries offer medical treatments at significantly low costs. According to a 2014 International Medical Tourism Journal study, the cost of treatment in the U.S. is 85% higher than that offered in countries like India, Mexico, etc. For instance, treatments such as knee replacement costing around US$ 35,000 to US$ 60,000 in the U.S. cost less than US$ 20,000 in Costa Rica and India, inclusive of lodging and airfare costs.
This is prominently leading to a rise in potential for the North America outbound medical tourism services market. In terms of revenue, the North America outbound medical tourism services market is projected to register a CAGR of 25% during the forecast period and is expected to be valued at US$ 605.3 Billion by the end of 2032.
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Rising rate of health insurance premiums, high cost of medical treatments in the U.S, and parallel tourism with medical treatment are some of the main factors anticipated to drive revenue growth of the North America outbound medical tourism services market over the forecast period (2022 – 2032). Growth of the North America outbound medical tourism services market is further driven by a large ageing baby boomer population and a large uninsured population, long waiting time for appointments with specialists in the U.S, and an increasing preference for non-conventional treatment options.
However, lack of effective follow-up care on returning home, rampant medical malpractices in medical tourism destinations, proliferation of superbugs in medical tourism destinations, problems associated with language barriers, and privacy concerns are some of the challenges anticipated to restrict market growth of the North America outbound medical tourism services market over the forecast period.
In terms of revenue share, the Cosmetic Surgery Treatment segment dominated the North America outbound medical tourism services market in 2022 and is expected to dominate throughout the forecast period, registering a high value CAGR of 32.9%. The Dental Treatment segment is expected to occupy substantial share in terms of volume in the North America outbound medical tourism services market and is anticipated to witness a CAGR of 27.2% in terms of value over the forecast period.
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In terms of value, U.S. is expected to be the dominant regional market by 2032 end and is estimated to register a CAGR of 25% over the forecast period. Canada is expected to have comparatively less market potential for outbound medical tourism services, registering a CAGR of 18.1% over the forecast period.
Some of the key players operating in the North America outbound medical tourism services market are Apollo Hospital Enterprise Limited, Bumrungrad International Hospital, KPJ Healthcare Berhad, Christus Muguerza Hospital, WorldMed Assist, Mednamaste, and Global Medical Tourism Inc. Some of these companies are adopting strategies such as backward integration to support their core business of medical tourism. Companies are offering services such as insurance and financing for medical tourism and are looking to expand their global footprint by enhancing their foreign customer base.
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By Therapeutic Application:
By Region:
The North America Outbound Medical Tourism Services market is predicted to grow at 25% CAGR through 2032.
Therapeutic application category for cosmetic surgery is predicted to dominate outbound medical tourism services in North America.
The North America Outbound Medical Tourism Services market is expected to surpass US$ 605.36 Bn by 2032.
The North America Outbound Medical Tourism Services market size is anticipated to be over US$ 65.0 Bn in 2022.
1. North America Market - Executive Summary
2. Research Methodology
3. Assumptions and Acronyms Used
4. North America Market Overview
4.1. Introduction
4.1.1. North America Market Taxonomy
4.1.2. North America Market Definition
4.2. North America Market Size and Forecast
4.2.1. North America Market Y-o-Y Growth
4.2.2. North America Market Absolute $ Opportunity
4.3. Pricing Analysis
4.3.1. Average Treatment Cost by Therapeutic Application
4.4. North America Market Overview
4.4.1. Number of In-patients in US opting for Medical Tourism Services
4.4.2. Reimbursement Scenario
4.4.3. Major Countries for Medical Tourism opting by US In-patients
4.5. North America Market Dynamics
4.5.1. Drivers
4.5.1.1. Supply Side
4.5.1.2. Demand Side
4.5.2. Restraints
4.5.3. Market Trends
5. North America Market Analysis and Forecast By Therapeutic Application
5.1. Introduction
5.2. North America Market Size and Forecast By Therapeutic Application
5.2.1. BPS Analysis, By Therapeutic Application
5.2.2. Y-o-Y growth comparison, By Therapeutic Application
5.3. North America Market Size (US$ Mn) Forecast By Therapeutic Application
5.3.1. Cosmetic Surgery Treatment
5.3.2. Dental Treatment
5.3.3. Cardiovascular Treatment
5.3.4. Orthopedic Treatment
5.3.5. Cancer Treatment
5.3.6. Fertility Treatment
5.3.7. Weight Loss Treatment
5.3.8. Spinal Surgery Treatment
5.3.9. Neurology Treatment
5.3.10. Other General Treatment
5.4. North America Market ('000 Procedures) Volume Forecast By Therapeutic Application
5.4.1. Cosmetic Surgery Treatment
5.4.2. Dental Treatment
5.4.3. Cardiovascular Treatment
5.4.4. Orthopedic Treatment
5.4.5. Cancer Treatment
5.4.6. Fertility Treatment
5.4.7. Weight Loss Treatment
5.4.8. Spinal Surgery Treatment
5.4.9. Neurology Treatment
5.4.10. Other General Treatment
5.5. North America Market Size (US$ Mn) Forecast By Country
5.5.1. US
5.5.2. Canada
5.6. North America Outbound Medical Tourism Market ('000 Procedures) Volume Forecast By Country
5.6.1. US
5.6.2. Canada
5.7. Market Attractiveness Analysis By Therapeutic Application
5.8. Prominent Trends
6. US Market Analysis and Forecast By Therapeutic Application
6.1. Introduction
6.2. US Market Size and Forecast By Therapeutic Application
6.2.1. BPS Analysis, By Therapeutic Application
6.2.2. Y-o-Y growth comparison, By Therapeutic Application
6.3. US Market ('000 Procedures) Volume Forecast By Therapeutic Application
6.3.1. Cosmetic Surgery Treatment
6.3.2. Dental Treatment
6.3.3. Cardiovascular Treatment
6.3.4. Orthopedic Treatment
6.3.5. Cancer Treatment
6.3.6. Fertility Treatment
6.3.7. Weight Loss Treatment
6.3.8. Spinal Surgery Treatment
6.3.9. Neurology Treatment
6.3.10. Other General Treatment
6.4. US Market Size (US$ Mn) Forecast By Therapeutic Application
6.4.1. Cosmetic Surgery Treatment
6.4.2. Dental Treatment
6.4.3. Cardiovascular Treatment
6.4.4. Orthopedic Treatment
6.4.5. Cancer Treatment
6.4.6. Fertility Treatment
6.4.7. Weight Loss Treatment
6.4.8. Spinal Surgery Treatment
6.4.9. Neurology Treatment
6.4.10. Other General Treatment
6.5. Market Attractiveness Analysis By Therapeutic Application
6.6. Prominent Trends
7. Canada Market Analysis and Forecast By Therapeutic Application
7.1. Introduction
7.2. Canada Market Size and Forecast By Therapeutic Application
7.2.1. BPS Analysis, By Therapeutic Application
7.2.2. Y-o-Y growth comparison, By Therapeutic Application
7.3. Canada Market ('000 Procedures) Volume Forecast By Therapeutic Application
7.3.1. Cosmetic Surgery Treatment
7.3.2. Dental Treatment
7.3.3. Cardiovascular Treatment
7.3.4. Orthopedic Treatment
7.3.5. Cancer Treatment
7.3.6. Fertility Treatment
7.3.7. Weight Loss Treatment
7.3.8. Spinal Surgery Treatment
7.3.9. Neurology Treatment
7.3.10. Other General Treatment
7.4. Canada Market Size (US$ Mn) Forecast By Therapeutic Application
7.4.1. Cosmetic Surgery Treatment
7.4.2. Dental Treatment
7.4.3. Cardiovascular Treatment
7.4.4. Orthopedic Treatment
7.4.5. Cancer Treatment
7.4.6. Fertility Treatment
7.4.7. Weight Loss Treatment
7.4.8. Spinal Surgery Treatment
7.4.9. Neurology Treatment
7.4.10. Other General Treatment
7.5. Market Attractiveness Analysis By Therapeutic Application
7.6. Prominent Trends
8. Competitive Landscape
8.1. Apollo Hospital Enterprise Limited
8.1.1. Revenue
8.1.2. Products/Brand Offerings
8.1.3. Company Highlights
8.2. Bumrungrad International Hospital
8.2.1. Revenue
8.2.2. Products/Brand Offerings
8.2.3. Company Highlights
8.3. KPJ Healthcare Berhad
8.3.1. Revenue
8.3.2. Products/Brand Offerings
8.3.3. Company Highlights
8.4. Christus Muguerza Hospital
8.4.1. Revenue
8.4.2. Products/Brand Offerings
8.4.3. Company Highlights
8.5. WorldMed Assist
8.5.1. Revenue
8.5.2. Products/Brand Offerings
8.5.3. Company Highlights
8.6. Mednamaste
8.6.1. Revenue
8.6.2. Products/Brand Offerings
8.6.3. Company Highlights
8.7. Global Medical Tourism Inc.
8.7.1. Revenue
8.7.2. Products/Brand Offerings
8.7.3. Company Highlights
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North America Outbound Medical Tourism Services Market
