The medical tourism market size was USD 186.5 billion in 2023 and is anticipated to reach USD 602.2 billion in 2033, growing at a rate of 11.8% from 2023 to 2033. The medical tourism market is expanding rapidly, driven by high demand for orthopedic, cosmetic, dental, cardiovascular, and alternative medicine treatments. Both public and private healthcare providers are increasingly offering specialized services to meet the needs of domestic and international patients. Private providers are growing due to their competitive pricing and personalized care. The market’s growth reflects rising patient preferences for affordable, quality care, with domestic and international segments both playing key roles. The availability of diverse, high-quality treatment options in popular destinations further boosts this segment’s attractiveness and global expansion.
Market Outlook
The global medical tourism market, valued at USD 186.5 billion in 2023, is projected to reach USD 602.2 billion by 2033, growing at 11.8%. Key trends include online consultations, virtual reality for procedure visualization, and mobile apps for comparing prices and booking appointments. Recent developments include Thailand’s collaboration with FICO Group for cosmetic surgery, Dubai’s ‘Dubai in One Day’ package, India’s ‘Heal in India’ project to boost medical tourism, and Egypt’s new medical services program for international patients. Major players include Al Zahra Hospital, Apollo Hospitals, and Fortis Healthcare, among others.
There are a few key trends in medical tourism technology:
1. Online Consultations: More and more medical tourism companies are offering online consultations with doctors and medical professionals. This allows potential patients to get a better idea of what their options are and what procedures might be right for them.
2. Virtual Reality: Some medical tourism companies are beginning to use virtual reality technology to give potential patients a realistic view of what their procedure will be like. This can help to ease any anxiety about the unknown and make the decision-making process easier.
3. Mobile Apps: There are several mobile apps available that can help potential patients compare prices, find doctors, and book appointments. This makes the entire process more convenient and allows patients to make informed decisions about their care.
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Research Objectives
- Estimates and forecast the overall market size for the total market, across product, service type, type, end-user, and region
- Detailed information and key takeaways on qualitative and quantitative trends, dynamics, business framework, competitive landscape, and company profiling
- Identify factors influencing market growth and challenges, opportunities, drivers and restraints
- Identify factors that could limit company participation in identified international markets to help properly calibrate market share expectations and growth rates
- Trace and evaluate key development strategies like acquisitions, product launches, mergers, collaborations, business expansions, agreements, partnerships, and R&D activities
- Thoroughly analyze smaller market segments strategically, focusing on their potential, individual patterns of growth, and impact on the overall market
- To thoroughly outline the competitive landscape within the market, including an assessment of business and corporate strategies, aimed at monitoring and dissecting competitive advancements.
- Identify the primary market participants, based on their business objectives, regional footprint, product offerings, and strategic initiatives
Recent Developments
- In April 2023, Rattinan Medical Centre, Thailand’s leading cosmetic surgery and laser treatment provider, has collaborated with FICO Group to open a new facility to expand wrinkle-free medical tourism offerings.
- In January 2023, The Dubai Health Authority (DHA) has developed ‘Dubai in One Day’, a unique medical tourism package for overseas patients. DHA’s health initiative at Arab Health 2023 is planned to allow foreign medical tourists to arrange operations and access a variety of tourism services in only a few hours.
- In August 2022, The Indian government announced the commencement of the ‘Heal in India’ project on August 15, 2022. The project intends to increase medical tourism in India by providing specific offices at 10 airports, a bilingual webpage, and reduced visa requirements for incoming international travellers visiting India for medical reasons.
- In November 2021, Egypt has announced the establishment of a program designed to give modern medical and therapeutic services to overseas patients
Major Players in the Global Medical Tourism Market
The key players studied in the global Medical Tourism Market are Al Zahra Hospital, Al Rahba Hospital, Zulekha Hospital, Samitivej PCL, Phyathai Hospitals Group, Asklepios Kliniken GmbH, Fortis Healthcare Limited, Apollo Hospitals Enterprise Limited, Razavi Hospital, and Jordan Hospital.
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Research Scope
- Scope – Highlights, Trends, Insights. Attractiveness, Forecast
- Market Sizing – Product Type, End User, Offering Type, Technology, Region, Country, Others
- Market Dynamics – Market Segmentation, Demand and Supply, Bargaining Power of Buyers and Sellers, Drivers, Restraints, Opportunities, Threat Analysis, Impact Analysis, Porters 5 Forces, Ansoff Analysis, Supply Chain
- Business Framework – Case Studies, Regulatory Landscape, Pricing, Policies and Regulations, New Product Launches. M&As, Recent Developments
- Competitive Landscape – Market Share Analysis, Market Leaders, Emerging Players, Vendor Benchmarking, Developmental Strategy Benchmarking, PESTLE Analysis, Value Chain Analysis
- Company Profiles – Overview, Business Segments, Business Performance, Product Offering, Key Developmental Strategies, SWOT Analysis
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