Medical Tourism Market to Reach US$ 337.0 Billion by 2028 | CAGR of 23.6%

IMARC Group's latest research report, titled "Medical Tourism Market: Global Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," The global medical tourism market size reached US$ 97.3 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 337.0 Billion by 2028, exhibiting a growth rate (CAGR) of 23.6% during 2023-2028.

Medical Tourism Industry Outlook:

Medical tourism involves traveling across countries to receive medical treatments for various ailments. It provides maintenance, enhancement, and restoration of health through advanced healthcare facilities and treatment methods. It is a practice that enables online consultation through multiple information sources before making a decision and enables individuals to receive affordable and high-quality treatment at numerous healthcare facilities. Additionally, it saves time and avoids aggravation over medical issues, thereby offering easy travel across countries. As a result, it provides elective surgeries and the treatment of various dental, cosmetic, cardiovascular, orthopedic, and neurological diseases, along with other critical ailments, such as cancer.

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Global Medical Tourism Industry Growth:

The market is primarily driven by significant growth in the healthcare industry. Along with this, the advent of medical migration due to the wide availability of advanced technology and highly trained professionals in developing countries is propelling the market.

Moreover, various leading players are focusing on developing improved healthcare, innovative medical devices, and medicines for providing personalized care to patients is providing a boost to the demand. Besides, numerous initiatives undertaken by the governments of several countries to offer support in developing the necessary infrastructure and improving existing hospitals are creating a positive market outlook. Other factors, such as the increasing prevalence of chronic disorders and continual improvements in the tourism industry, are also influencing the market.

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Key Market Segmentation:

Top Medical Tourism Companies Worldwide:

• Aditya Birla Memorial Hospital
• Apollo Hospitals Enterprise Limited
• Asian Heart Institute
• Barbados Fertility Center
• BB Health Solutions.
• Fortis Healthcare
• Healthbase
• KPJ Healthcare Berhad
• Prince Court Medical Centre
• Samitivej
• Seoul National University Hospital
• UZ Leuven

Breakup by Treatment Type:

• Cosmetic Treatment
• Dental Treatment
• Cardiovascular Treatment
• Orthopaedic Treatment
• Bariatric Surgery
• Fertility Treatment
• Ophthalmic Treatment
• Others

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Breakup by Region:

• North America (United States, Canada)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

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