Medical Tourism Market Forecast To Grow USD 97.9 Billion By 2030

Posted by rahul nikade on August 11th, 2022

Medical Tourism Industry Overview

The global medical tourism market size is expected to reach USD 97.9 billion by 2030, expanding at a CAGR of 32.51% during the forecast period, according to a new report by Grand View Research, Inc. Dental treatment (veneers, implants, and crowns), cardiovascular treatment (coronary artery bypass graft and heart valve transplantation), orthopedic treatment (knee & hip reconstruction and spinal surgery), and cosmetic treatment (breast implants and facelifts) are among the most frequently performed procedures for medical tourists.

Medical Tourism Market Segmentation

Grand View Research has segmented the global medical tourism market based on country:

Based on the Country Insights, the market is segmented into Thailand, India, Costa Rica, Mexico, Malaysia, Singapore, Brazil, Colombia, Turkey, Taiwan, South Korea, Czech Republic, Spain, China, Australia, Indonesia.

• Turkey was one of the dominating markets with a share of 26.1% in 2021. This can be attributed to a higher influx of health tourists in the country when compared to other nations. As per the Turkish Statistical Institute, a total of 642,444 inbound medical tourists visited Turkey in 2021, an increase of 66% from 2020.
• Thailand is one of the popular destinations for medical tourism. Its popularity as a tourist destination is augmenting its market growth. The growing number of private institutions, improvements to the overall healthcare infrastructure, and lower treatment prices all contribute to the country’s growth in medical tourism.
• Some of the factors contributing to Thailand’s growth are the presence of a highly developed tourism sector, an increase in the number of private healthcare providers, and reasonable treatment costs. Furthermore, improved quality of personal care and adoption of the latest treatment technologies are responsible for the growing medical tourism in the country.
• Medical tourism generates significant revenue for developing economies, allowing them to continue expanding their healthcare businesses. This has resulted in increased government engagement and the promotion of medical tourism. For example, medical tourists to Malaysia are primarily from Indonesia, the United Kingdom, Middle Eastern countries, China, India, Japan, Australia, and New Zealand.
• Malaysia's Ministry of Health is providing all required assistance for the development of necessary infrastructure and the improvement of existing hospitals.

Based on the Treatment Insights.

• Thailand is mostly preferred for cosmetic and bariatric surgeries. Some of the common procedures performed in Thailand include breast augmentation, laser tattoo removal, liposuction, Botox, hair transplant, and CoolSculpting. In Thailand, cosmetic surgeries are the most preferred type of treatment.
• On the other hand, procedures such as knee replacement, hip replacement, and gastric bypass are more affordable in India, as compared to some of the developed nations including the U.S. and the UK. Costa Rica is preferred by tourists for dental procedures.
• Dental and cosmetic treatments are the most preferred types of treatment in Malaysia. Heart diseases, orthopedics, infertility, health checkups, dental, and cancer are common factors for which inbound tourists visit Indonesia. The country is aiming to target niche areas, such as dentistry, health checkups, and cosmetic surgery, especially breast augmentation & rhinoplasty.

Medical Tourism Regional Outlook 

This report forecasts revenue growth at the country level and provides an analysis of the the latest industry trends in each of the sub-segments from 2016 to 2030.

• Thailand
• India
• Costa Rica
• Mexico
• Malaysia
• Singapore
• Brazil
• Colombia
• Turkey
• Taiwan
• South Korea
• Czech Republic
• Spain
• China
• Australia
• Indonesia

Order a free sample PDF of the Medical Tourism Market Intelligence Study, published by Grand View Research. 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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