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Medical Tourism On The Rise Seeking Affordable Healthcare Abroad: The Driving Engine Behind Medical Tourism Market Evolution in 2025
Medical Tourism Market
How Large Will the Medical Tourism Market Size By 2025?
In recent times, the medical tourism market has seen a quick expansion. Predictions show an increase from $82.69 billion in 2024 to $92.63 billion in 2025, representing a compound annual growth rate (CAGR) of 12.0%. The notable rise during the historic period can be linked to the development of emerging markets, a higher number of cardiovascular diseases, an upsurge in cosmetics procedures, growing demand for body contouring, and an increase in disposable personal income.
How Big Is the Medical Tourism Market Size Expected to Grow by 2029?
Anticipations are high for a swift expansion in the medical tourism market size in the upcoming years, with it set to escalate to $186.99 billion by 2029. This growth, with a compound annual growth rate (CAGR) of 19.2%, will be driven by factors such as governmental initiatives, more affordable surgery costs, an increasing number of elderly individuals, a surge in medical tourists, and technological advancements in the medical field. The forecast period also highlights numerous trends including the application of the metaverse in medical tourism, the integration of mobile technology, the implementation of precision medicine, as well as mergers, acquisitions, the use of artificial intelligence, along with the establishment of partnerships and collaborations.
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Which Key Market Drivers Powering Medical Tourism Market Expansion and Growth?
The rise in healthcare costs in industrialized nations is fueling growth in the medical tourism sector, as treatments can often be obtained more affordably in emerging countries. Patients are usually inclined to seek care in developing nations with reliable healthcare systems but lower healthcare expenditures. A study by the Centers for Disease Control and Prevention found that roughly 0.75 to 1.6 million U.S individuals travel abroad to receive medical treatment to evade the steep cost of such procedures at home. For example, a hip replacement procedure in the U.S can incur a cost of about $39,299, while opting for the same procedure in India or Costa Rica, or in any other developing country, could only cost between $7000 and $15,000, including logistical expenses.
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Which Fast-Growing Trends Are Poised to Disrupt the Medical Tourism Market?
People moving between countries for medical care are more and more utilizing electronic health records to hold data related to their health in a digital manner. An electronic health record represents an organized gathering of a patient's health information and medical probe reports preserved electronically. These health records could be accessed immediately and securely by those with clearance. The use of electronic health records eradicates the necessity for patients to lug around weighty medical files when journeying vast distances for treatment. Key electronic health records software encompasses eClinicalWorks, Allscripts, and Cerner.
What Are the Emerging Segments in the Medical Tourism Market?
The medical tourism market covered in this report is segmented -
1) By Treatment Type: Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedics Treatment, Cancer Treatment, Fertility Treatment, Neurological Treatment, Other Treatment Types
2) By Type: Domestic, International
3) By Healthcare Service: Medical Treatment, Wellness, Alternative Treatment
4) By Service Provider: Public, Private
Subsegments:
1) By Cosmetic Treatment: Plastic Surgery, Breast Augmentation, Facelifts And Botox Injections, Hair Transplant, Skin Rejuvenation And Laser Treatments
2) By Dental Treatment: Dental Implants, Cosmetic Dentistry, Orthodontic Procedures, Oral Surgery, Periodontal Treatments
3) By Cardiovascular Treatment: Coronary Artery Bypass Graft (CABG), Angioplasty And Stent Insertion, Heart Valve Replacement, Cardiac Rehabilitation, Electrophysiology
4) By Orthopedics Treatment: Joint Replacement, Spinal Surgery, Arthroscopy, Fracture Repair, Sports Injury Treatment
5) By Cancer Treatment: Chemotherapy, Radiation Therapy, Immunotherapy, Surgery For Tumor Removal, Targeted Therapy
6) By Fertility Treatment: In Vitro Fertilization (IVF), Egg And Sperm Donation, Surrogacy, Intrauterine Insemination (IUI), Fertility Preservation
7) By Neurological Treatment: Brain Surgery, Spinal Cord Surgery, Deep Brain Stimulation, Epilepsy Treatment, Stroke Rehabilitation
8) By Other Treatment Types: Organ Transplantation, Bariatric Surgery (Weight Loss Surgery), Ophthalmic Treatments, Dermatology Treatments, ENT Treatments
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Who Are the Global Leaders in the Medical Tourism Market?
Major companies operating in the medical tourism market include Bumrungrad International Hospital, Asklepios Kliniken Verwaltungsgesellschaft mbH, Apollo Hospitals Enterprise Ltd, Fortis Healthcare, Bangkok Dusit Medical Services PCL, Saudi German Hospitals Group, Asian Heart Institute, Gleneagles Hospital, KPJ Healthcare Behard, Samitivej Hospitals, NTT Medical Center Tokyo, Seoul National University Hospital, Beijing Saint Lucia Consulting Ltd, China Medical Tourism Inc, Clifford Hospital, German International Clinic, Bonn Medical Partners, University Medical Center, Intermed Consult, International Diagnostic Center Frankfurt, Medical Concierge France, ZagrebMed, Specijalna bolnica Sv. Katarina, Carlsbad Clinic, Elite Skin Rejuvenation, CubaHeal Medical Tourism, Inc, North American Specialty Hospital, Shouldice Hospital, CHRISTUS MUGUERZA, Clinica Sao Vicente, Hospital Barra d'Or, Hospital Do Coracao, Hospital de Clinicas Carcas, Sigamadental Venezuela, Centro Medico Maracay, Medipol Mega University Hospital, Medicana Haznedar Hospital. Istanbul, Anadolu Medical Center. Kocaeli, Estetik International, Istanbul, I.A.U VM Medical Park Florya Hospital, Medical Park Bahcelievler Hospital, AL Rayyan Medical Centre, Al Shifa Al Khaleeji Medical Centre, Emsey Hospital, Medistanbul Hospital, Kolan International Hospital, Hisar Hospital Intercontinental, Travcure Medical Tourism Consultants, Beaconhill Smile clinics, Agho Clinic Benin City
Which are the Top Profitable Regional Markets for the Medical Tourism Industry?
North America was the largest region in the medical tourism market in 2024. Western Europe was the second largest region in the global medical tourism market share. The regions covered in the medical tourism market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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