The global medical tourism market was valued at USD 21.1 billion in 2020 and is expected to grow at a CAGR of 12.6% over the forecast period. Due to a lack of treatment facilities and long waiting times in their home countries, patients used to go to industrialized economies such as the United States and Europe to acquire high-end therapies. However, in recent years, the situation has changed, with patients seeking medical treatment in developing countries such as India, Singapore, Thailand, Malaysia, Costa Rica, Dubai, and Turkey. Improving healthcare infrastructure, significant cost savings on medical treatment, and an increasing number of medical facilitators have all contributed to the growth of health tourism in these nations in recent years, and this trend is projected to continue in the future. Other factors expected to promote the growth of the global medical tourism market include increased investment in healthcare infrastructure to encourage medical tourism and an increase in the number of private agencies offering medical tours.

Patients from developed countries have started flying to these countries for medical treatment because it saves them between 30 and 70 percent of the entire treatment cost. Another important aspect in the low cost of medical treatment is the availability of trained specialists at a cheaper cost. The rising prevalence of chronic diseases around the world, as well as the high rates charged by healthcare providers, are expected to propel the global medical tourism industry forward over the forecast period. However, fear of infectious infections during treatment and the occurrence of misdiagnosis can stifle demand for medical tourism, limiting the market's expansion.

Adroit Market Research report on global medical tourism market gives a holistic view of the market from 2018 to 2028, which includes factors such as market drivers, restraints, opportunities, and challenges. The market has been studied for the period 2018 to 2028, with the base year of estimation as 2020 and forecast from 2021 to 2028. The report covers the current status and future traits of the market at global as well as country level. In addition, the study also assesses the market competition with Porter's five forces analysis and company positioning based on their product portfolio, geographic footprint, strategic initiatives, and overall revenue. Prominent players operating in the global medical tourism market have been studied in detail.

The prominent players operating in global medical tourism market includes Bumrungrad International Hospital, Asian Heart Association, Bangkok Hospital, Samitivej PCL, Yanhee International Hospital, Apollo Hospitals Enterprise Ltd., Fortis Hospital, Artemis Hospitals, Mexicali Bariatric Center, Sunway Medical Centre among other prominent players.

Key segments of the global medical tourism market

Treatment Type Overview, 2018-2028 (USD Billion)

• Cardiovascular Treatment
• Cancer Treatment
• Fertility Treatment
• Neurological Treatment
• Orthopedic Treatment
• Cosmetic Treatment
• Dental Treatment
• Other treatments

Regional Overview, 2018-2028 (USD Billion)

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • United Kingdom
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Singapore
  • Thailand
  • Malaysia
  • Rest of Asia Pacific
• South America
  • Brazil
  • Mexico
  • Rest of South America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East and Africa