Global Medical Tourism Market Size 2018, by Treatment Type (Cardiovascular Treatment, Cancer Treatment, Fertility Treatment, Neurological Treatment, Orthopedic Treatment, Cosmetic Treatment, Dental Treatment, and Other Treatment), by Region and Forecast 2019 to 2025
Oct 2019
Total Pages: 90
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The global medical tourism market is mainly influenced by high medical treatment costs at native countries and easier treatment accessibility for health tourism patients. Emergence of developing economies of Asia Pacific as major hubs for medical tourism, posing themselves as affordable healthcare centers is a characteristic feature of this market.
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Chronic diseases often come with a significant socioeconomic burden. The incidence of chronic and acute diseases is increasing globally and hence there is a rising need for patients to procure medical treatment that is economically beneficial. Patients are also preferring medical tourism to bypass the long wait for the treatment. Also, exorbitant treatment and management costs particularly for surgeries that have limited or no insurance coverage attracts patients to the medical tourism destinations. These factors in turn, propel the growth of the global medical tourism market over the forecast period.
Medical tourism for procedures such as cosmetic and gender reassignment surgeries is expected to increase, as these surgeries are not covered under standard insurance in several countries, and are expensive if incurred out of pocket. Furthermore, the rising number of joint & hip replacement procedures and increasing demand for bariatric surgeries are other factors boosting the growth of the global medical tourism market over the coming years. Unavailability of specialized treatments for life-threatening diseases, particularly for cancer is expected to boost medical tourism in developed countries. This is attributed to the presence of well-developed healthcare infrastructure and availability for technologically advanced medical treatment facilities. Also, increasing incidence of cancer across the globe is a primary factor expected to support market growth. According to the American Cancer Society, more than 1.7 million new cancer cases are expected to be diagnosed in 2019.
Dental tourism is one of the fastest-growing segment in the global medical tourism market. Patients are traveling to destinations such as Mexico, Thailand, Spain, Turkey, India, Hungary, and the Philippines for the treatment, as it saves 50% - 70% of the total cost of the treatment.
Provisions undertaken by various government to develop well-establish healthcare infrastructure is expected to drive the growth of the global medical tourism market. Moreover, hospitals such as Apollo, Fortis, and NTT Medical Center are offering specialized treatments such as fertility and cardiovascular at a much lower cost than that quoted in developed economies, which are expected to attract more tourists.
Key segments of the global medical tourism market
Treatment Type Overview, 2015-2025 (USD Million)
- Cardiovascular treatment
- Cancer treatment
- Fertility treatment
- Neurological treatment
- Orthopedic treatment
- Cosmetic Treatment
- Dental Treatment
- Other treatments
Regional Overview, 2015-2025 (USD Million)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- GCC
- Rest of MEA
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global medical tourism market
- While studying the market, we observed that medical tourism for cosmetic and cancer treatment gained hefty demand
- Asia Pacific is projected to be the fastest growing region as India, Singapore and Thailand offers low cost medical treatment for wide treatment types and is expected to witness lucrative growth opportunity
What does the report include?
- The study on the global medical tourism market includes qualitative data analysis such as drivers, trends, and opportunities, along with competition analysis and profiles of key market players
- Additionally, the market has been evaluated using Porter’s five forces analysis, and PEST analysis
- The study covers quantitative as well as qualitative breakdown of the market segmented on the basis of treatment type. Moreover, the study provides similar facts for the key geographical regions
- Actual market sizes and forecasts have been provided for all the above-mentioned segment
- Profiles of key hospitals & medical agencies have been provided in the report
Who should buy this report?
This study is suitable for industry contributors and shareholders in the medical tourism market, who want an in-depth understanding into the advancements of the medical tourism market. The report will benefit:
- Directors, and managers of various private and public hospitals that are engaged in offering various treatment such as cardiovascular treatment, cancer treatment, fertility treatment, neurological treatment, cosmetic treatment
- Regulatory bodies and municipal corporations looking for innovative solutions for attending to the incoming medical tourists
- Decision makers across various government and non-government panels who are looking for solutions or planning on attracting and enhancing more medical tourists
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies
Increasing demand for low treatment cost
Rising geriatric population, increasing medical costs, worsening lifestyle habits, and high rates of chronic diseases are driving the costs of healthcare. The economic benefits associated with medical tourism is a major factor augmenting the global medical tourism market growth over the forecast period.
In 2013, Nerd Wallet Health had analyzed data from the Centers for Disease Control and Prevention, the U.S. Census and the Federal Court System - found that 56 million Americans under the age of 65 would find it difficult to pay medical bills. Also, according to the Medical Tourism Association survey, Latin America and the Asia Pacific were the two leading regions for medical travel.
Increasing investments in the development of advanced healthcare facilities, new and innovative technologies for the treatment of diseases, personalized treatment at a lower cost when compared to the native country are major factors expected to attract medical tourists over the coming years.
The Kasikorn Research Center and the Ministry of Public Health- Thailand reported in 2012, 2.5 million foreign patients came to Thailand for medical treatment, among which the top five nationalities were U.S., Japan, UK, Australia, and GCC. In 2012, the Korea Health Industry Development Institute announced that approximately 159 thousand patients visited Korea from 188 countries in 2012, including 32,503 Chinese patients.
Some of the private hospitals encouraging medical tourism are Bumrungrad International Hospital, Asian Heart Association, Mexicali Bariatric Center, Sunway Medical Centre, NTT Medical Center Tokyo, Singapore Vita Agency, Wooridul Spine Hospital, Bangkok Hospital, Samitivej PCL, Yanhee International Hospital, Fortis Hospital Limited, Apollo Hospitals Enterprise Ltd., and Artemis Hospitals.
In terms of treatment type, the global medical tourism market is segmented into cardiovascular treatment, cancer treatment, fertility treatment, neurological treatment, orthopedic treatment, cosmetic treatment, dental treatment, and other treatments. Cosmetic treatment application segment held the largest market share in 2018, followed by dental treatment, and cardiovascular treatment.
Medical tourism for cosmetic surgeries is expected to grow in the coming years, owing to the high cost of the surgeries and limited insurance coverage. Growing adoption for cosmetic procedures globally along with the increasing prevalence of skin disorder are factors supporting the growth of the segment over the forecast period.
Dental treatment also contributes to significant revenue share of the global medical tourism market. Increasing patients traveling to destinations such as Mexico, Thailand, Spain, Turkey, India, Hungary, and the Philippines, as it saves 40-70% of the cost is major driving growth of the segment. In 2012, approximately 1.2 million Americans traveled outside the U.S. for healthcare treatments. Of these, approximately 42% of patients traveled for dental care. Patients search for affordability, quality, accessibility, and availability has spurred the demand for dentistry outside their own country. Medical tourism for cardiovascular treatment mainly includes angioplasty, coronary artery bypass grafting (CABG), and transplants.
Medical tourism has increased across the globe, with cosmetic treatment being a key treatment area, facilitating the growth of medical tourism across the region, followed by dental treatment. Asia Pacific accounted for a significant market revenue share in the global medical tourism market for 2018 and is projected to show a similar trend until 2025.
Asia Pacific is most preferred destination for medical tourists across the globe. For instance, a 2012 study from the Taiwan Ministry of Health and Welfare showed that in 2011, more than 60,000 patients travelled to Taiwan for healthcare, with 50% coming from China. The rising number of Joint Commission International (JCI) accredited hospitals, significantly lower costs of treatment & surgeries are factors driving growth of Asia Pacific medical tourism market over the forecast period. For instance, Apollo Hospitals, Fortis Healthcare Limited, KPJ Healthcare, NTT Medical Center Tokyo, and Barbados Fertility Centre are some of the JCI accredited hospitals located in Asia Pacific, which offer medical care to tourists.
Within the region, India is expected to have tremendous potential for growth, as the cost saved on medicinal procedures ranges between 65% - 90%. Increasing presence skilled professional along with ease in visa processing is expected to drive the growth of the medical tourism in the country over the next few years.
Thailand is another popular destination for patients traveling for medical treatments to the country. It has over more than 50 JCI accredited healthcare outlets, the highest in Asia Pacific. The government is focusing on developing the medical tourism by upgrading local hospitals to meet international standards and offering care to tourists who fall sick while traveling. It is also relaxing visa rules by allowing tourists from other countries with a stay extension up from 30 days to 90 days.
Given below is a list of most traveled destinations with an average range of savings in comparison to those in the U.S.
|
Destination |
Savings in comparison to the U.S. (%) |
|
Brazil |
20-30% |
|
Singapore |
25-40% |
|
South Korea |
30-45% |
|
Taiwan |
40-55% |
|
Mexico |
40-65% |
|
Costa Rica |
45-65% |
|
Turkey |
50-65% |
|
Thailand |
50-75% |
|
Malaysia |
65-80% |
|
India |
65-90% |
Source: Orbis Research Analysis
The global medical tourism market is mainly influenced by high medical treatment costs at native countries and easier treatment accessibility for health tourism patients. Emergence of developing economies of Asia Pacific as major hubs for medical tourism, posing themselves as affordable healthcare centers is a characteristic feature of this market.
Chronic diseases often come with a significant socioeconomic burden. The incidence of chronic and acute diseases is increasing globally and hence there is a rising need for patients to procure medical treatment that is economically beneficial. Patients are also preferring medical tourism to bypass the long wait for the treatment. Also, exorbitant treatment and management costs particularly for surgeries that have limited or no insurance coverage attracts patients to the medical tourism destinations. These factors in turn, propel the growth of the global medical tourism market over the forecast period.
Medical tourism for procedures such as cosmetic and gender reassignment surgeries is expected to increase, as these surgeries are not covered under standard insurance in several countries, and are expensive if incurred out of pocket. Furthermore, the rising number of joint & hip replacement procedures and increasing demand for bariatric surgeries are other factors boosting the growth of the global medical tourism market over the coming years. Unavailability of specialized treatments for life-threatening diseases, particularly for cancer is expected to boost medical tourism in developed countries. This is attributed to the presence of well-developed healthcare infrastructure and availability for technologically advanced medical treatment facilities. Also, increasing incidence of cancer across the globe is a primary factor expected to support market growth. According to the American Cancer Society, more than 1.7 million new cancer cases are expected to be diagnosed in 2019.
Dental tourism is one of the fastest-growing segment in the global medical tourism market. Patients are traveling to destinations such as Mexico, Thailand, Spain, Turkey, India, Hungary, and the Philippines for the treatment, as it saves 50% - 70% of the total cost of the treatment.
Provisions undertaken by various government to develop well-establish healthcare infrastructure is expected to drive the growth of the global medical tourism market. Moreover, hospitals such as Apollo, Fortis, and NTT Medical Center are offering specialized treatments such as fertility and cardiovascular at a much lower cost than that quoted in developed economies, which are expected to attract more tourists.
Key segments of the global medical tourism market
Treatment Type Overview, 2015-2025 (USD Million)
- Cardiovascular treatment
- Cancer treatment
- Fertility treatment
- Neurological treatment
- Orthopedic treatment
- Cosmetic Treatment
- Dental Treatment
- Other treatments
Regional Overview, 2015-2025 (USD Million)
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- Rest of Asia Pacific
- Latin America
- Mexico
- Brazil
- Rest of Latin America
- Middle East & Africa
- GCC
- Rest of MEA
Reasons for the study
- The purpose of the study is to give an exhaustive outlook of the global medical tourism market
- While studying the market, we observed that medical tourism for cosmetic and cancer treatment gained hefty demand
- Asia Pacific is projected to be the fastest growing region as India, Singapore and Thailand offers low cost medical treatment for wide treatment types and is expected to witness lucrative growth opportunity
What does the report include?
- The study on the global medical tourism market includes qualitative data analysis such as drivers, trends, and opportunities, along with competition analysis and profiles of key market players
- Additionally, the market has been evaluated using Porter’s five forces analysis, and PEST analysis
- The study covers quantitative as well as qualitative breakdown of the market segmented on the basis of treatment type. Moreover, the study provides similar facts for the key geographical regions
- Actual market sizes and forecasts have been provided for all the above-mentioned segment
- Profiles of key hospitals & medical agencies have been provided in the report
Who should buy this report?
This study is suitable for industry contributors and shareholders in the medical tourism market, who want an in-depth understanding into the advancements of the medical tourism market. The report will benefit:
- Directors, and managers of various private and public hospitals that are engaged in offering various treatment such as cardiovascular treatment, cancer treatment, fertility treatment, neurological treatment, cosmetic treatment
- Regulatory bodies and municipal corporations looking for innovative solutions for attending to the incoming medical tourists
- Decision makers across various government and non-government panels who are looking for solutions or planning on attracting and enhancing more medical tourists
- Analysts, researchers, educators, strategy managers, and academic institutions looking for insights into the market to determine future strategies
Chapter 1. Research Methodology
1.1. Research approach
1.2. Scope, definition, and assumptions
1.3. Data sources
Chapter 2. Executive Summary
Chapter 3. Market Outlook
3.1. Introduction
3.2. Key trends
3.2.1. Market drivers
3.2.2. Market restraints
3.2.3. Market opportunities
3.3. Porter’s five forces analysis
3.4. PESTLE analysis
Chapter 4. Global Medical Tourism Market Overview, by Treatment Type
4.1. Global medical tourism market share, by treatment type, 2018 & 2025
4.2. Cardiovascular treatment
4.2.1. Market size and projections, 2015 - 2025
4.3. Cancer treatment
4.3.1. Market size and projections, 2015 - 2025
4.4. Fertility treatment
4.4.1. Market size and projections, 2015 – 2025
4.5. Neurological treatment
4.5.1. Market size and projections, 2015 – 2025
4.6. Orthopedic treatment
4.6.1. Market size and projections, 2015 – 2025
4.7. Cosmetic treatment
4.7.1. Market size and projections, 2015 – 2025
4.8. Dental treatment
4.8.1. Market size and projections, 2015 – 2025
4.9. Others treatment
4.9.1. Market size and projections, 2015 – 2025
Chapter 5. Global Medical Tourism Market Overview, By Region
5.1. Global medical tourism market share, by region, 2018 & 2025
5.2. North America
5.2.1. Market size and projections, 2015 - 2025
5.2.2. U.S.
5.2.2.1. Market size and projections, 2015 – 2025
5.2.3. Canada
5.2.3.1. Market size and projections, 2015 – 2025
5.3. Europe
5.3.1. Market size and projections, 2015 – 2025
5.3.2. UK
5.3.2.1. Market size and projections, 2015 - 2025
5.3.3. Germany
5.3.3.1. Market size and projections, 2015 - 2025
5.3.4. France
5.3.4.1. Market size and projections, 2015 – 2025
5.3.5. Italy
5.3.5.1. Market size and projections, 2015 – 2025
5.3.6. Spain
5.3.6.1. Market size and projections, 2015 – 2025
5.3.7. Russia
5.3.7.1. Market size and projections, 2015 – 2025
5.3.8. Rest of the Europe
5.3.8.1. Market size and projections, 2015 – 2025
5.4. Asia Pacific
5.4.1. Market size and projections, 2015 – 2025
5.4.2. China
5.4.2.1. Market size and projections, 2015 - 2025
5.4.3. Japan
5.4.3.1. Market size and projections, 2015 – 2025
5.4.4. India
5.4.4.1. Market size and projections, 2015 – 2025
5.4.5. Rest of Asia Pacific
5.4.5.1. Market size and projections, 2015 - 2025
5.5. Latin America
5.5.1. Market size and projections, 2015 – 2025
5.5.2. Mexico
5.5.2.1. Market size and projections, 2015 - 2025
5.5.3. Brazil
5.5.3.1. Market size and projections, 2015 - 2025
5.5.4. Rest of Latin America
5.5.4.1. Market size and projections, 2015 - 2025
5.6. Middle East & Africa
5.6.1. Market size and projections, 2015 – 2025
5.6.2. GCC
5.6.2.1. Market size and projections, 2015 - 2025
5.6.3. Rest of MEA
5.6.3.1. Market size and projections, 2015 - 2025
Chapter 6. Competitive Landscape
6.1. Strategic framework
6.2. Recent trends & advancements
Chapter 7. Company Profiles
7.1. Bumrungrad International Hospital
7.1.1. Overview
7.1.2. Recent initiatives
7.1.3. Treatment offering
7.2. Asian Heart Association
7.2.1. Overview
7.2.2. Recent initiatives
7.2.3. Treatment offering
7.3. Bangkok Hospital
7.3.1. Overview
7.3.2. Recent initiatives
7.3.3. Treatment offering
7.4. Samitivej PCL
7.4.1. Overview
7.4.2. Recent initiatives
7.4.3. Treatment offering
7.5. Yanhee International Hospital
7.5.1. Overview
7.5.2. Recent initiatives
7.5.3. Treatment offering
7.6. Apollo Hospitals Enterprise Ltd.
7.6.1. Overview
7.6.2. Recent initiatives
7.6.3. Treatment offering
7.7. Fortis Hospital Limited
7.7.1. Overview
7.7.2. Recent initiatives
7.7.3. Treatment offering
7.8. Artemis Hospitals
7.8.1. Overview
7.8.2. Recent initiatives
7.8.3. Treatment offering
7.9. Mexicali Bariatric Center
7.9.1. Overview
7.9.2. Recent initiatives
7.9.3. Treatment offering
7.10. Sunway Medical Centre
7.10.1. Overview
7.10.2. Recent initiatives
7.10.3. Treatment offering
7.11. NTT Medical Center Tokyo
7.11.1. Overview
7.11.2. Recent initiatives
7.11.3. Treatment offering
7.12. Singapore Vita Agency
7.12.1. Overview
7.12.2. Recent initiatives
7.12.3. Treatment offering
7.13. Wooridul Spine Hospital
7.13.1. Overview
7.13.2. Recent initiatives
7.13.3. Treatment offering