Inbound Medical Tourism Market Outlook, 2028

Global demand for inbound medical tourism is being driven by the rising disease burden among the population and the accessibility of cutting-edge medical technologies for the treatment of several chronic health issues. The expansion of the market is anticipated to be largely fueled by the support and assistance offered by the tourist departments and governments of the source and host destinations. People travel for medical care since their own country's healthcare is either too expensive or not offered at all. People often choose medical tourism in order to receive prompt medical care and economical medical therapy. The internationalization of the healthcare industry has greatly accelerated the growth of medical tourism. The simple cross-border movement of patients, healthcare workers, medical technologies, and cash has propelled the global medical tourism industry's expansion. Additionally, one of the main drivers of the expanding demand for medical tourism is the increased knowledge of the practice and the increasing affordability of cutting-edge medical procedures. The industry of medical tourism is being boosted by the government's increasing investments in the construction of robust and cutting-edge healthcare facilities. The main drivers of market growth are favourable government policies, increased investments in the expansion of air connectivity and other forms of transportation, and government programs to support medical tourism. Additionally, readily available information on the costs, best locations for treatment, and ways to treat different diseases plays a significant role in raising awareness of medical tourism. Additionally, the growing medical tourism is a result of the inadequate supply of specialist medical professionals. In order to perform specific surgeries that call for specialized knowledge, healthcare practitioners engage in tourism activities.

According to the research report, “Global Inbound Medical Tourism Market Outlook, 2028” the market is expected to cross USD 317.43 Billion market size, increasing from USD 98.63 Billion in 2022. The global market is forecasted to grow with 22.09% CAGR from 2023-28. According to the Medical Tourism Association, about 14 million people travel abroad each year for medical care. As a result, the worldwide inbound medical tourism market is expanding due to the increasing number of visitors and travellers seeking routine examinations. The cost of treating many types of diseases is inexpensive in some areas. These include Thailand, Singapore, and Dubai. Indonesia accounts for half of the 500,000 medical tourists that Singapore receives each year. The number of medical tourists and the demand for aesthetic and medical procedures are therefore predicted to increase in the near future. The market for international inbound medical tourism is expanding as a result of this factor. According to the Medical and Health Tourism Congress, healthcare costs in Asian countries are significantly lower than those in private facilities in the United States. A cardiac operation in Thailand costs USD 13,000, as opposed to USD 113,000 in the United States. According to Apollo Hospitals, a hip replacement treatment in Thailand costs about USD 7,800, compared to USD 50,000 in the United States. Additionally, the global market for inbound medical tourism is expanding as a result of numerous countries' increasing technical breakthroughs. Additionally, the market for global inbound medical tourism is developing due to the rising popularity of cosmetic procedures. The demand for healthcare services is likely to rise due to an increase in the prevalence of cancer and other major illnesses, which would in turn fuel the market for medical tourism. Additional factors that contribute to the market's expansion include the accessibility, affordability, and availability of high-quality healthcare services, as well as the support and help provided by local governments and tourism agencies.

Based on the region, Asia-Pacific is dominating the global Inbound Medical Tourism market with highest market share in 2022.

The Asia-Pacific inbound medical tourism market is growing as patients gain more understanding of medical tourism and the region's access to and availability of cutting-edge treatment options expand. The emerging countries in the region place a high value on having an effective healthcare system. Japan, for example, is recognized as the most favoured site for oncology treatments due to its skill in heavy particle radiation, regenerative medicine, and robot-assisted procedures. Thailand, India, Singapore, Malaysia, South Korea, and the Philippines are just a handful of the well-known Asian countries that attract medical tourists. These countries have developed a strong medical infrastructure and actively promote medical travel. The region's rich cultural heritage, breathtaking natural surroundings, and tourist attractions are just a few of the factors that influence medical tourists decisions to travel to Asia-Pacific countries for their medical procedures. As a result, medical treatment and a vacation are mixed in an unusual way. Due to its prosperous socialist healthcare system, Singapore has one of the best healthcare systems in Asia and ranks sixth globally, according to the World Health Organization. Each year, more than half a million medical tourists travel to Malaysia for in vitro fertilization and cutting-edge burn treatment due to the country's strong infrastructure and accessibility to these services. Additionally, a lot of the countries in the area have set up organizations to attract patients looking for medical procedures overseas and increase patient knowledge of medical tourism.

Based on the treatment type, cosmetic treatment is leading the market with significant market share of Global Inbound Medical Tourism Market.

The basic nature of cosmetic procedures fits perfectly with the objectives of the contemporary person, who seeks both medical and aesthetic improvement. By combining medical knowledge with the artistry of aesthetics, cosmetic procedures offer a distinctive option in a time when self-expression and self-improvement are highly valued. This combination creates the conditions for a global audience to connect with a holistic approach to healthcare, which accelerates the market's growth. Additionally, improvements in medical technology have sparked a revolution in cosmetic operations by making interventions safer, less intrusive, and more powerful. The spectrum of alternatives has increased, catering to a wider range of patient preferences, ranging from non-surgical face rejuvenation approaches to cutting-edge body reshaping operations. By demystifying aesthetic procedures, this expansion has allayed people's concerns and given them renewed confidence to travel for medical treatment. The attractiveness of cost-effectiveness is still another important element. These therapies are offered in several medical tourism destinations that offer top-notch cosmetic procedures for a fraction of what they would cost in industrialized countries. For individuals looking for cosmetic improvements, this price difference creates an appealing value offer, especially when it is coupled with top-notch healthcare facilities and knowledgeable medical staff. Furthermore, countries like, Brazil, Hungary, South Korea are some of the famous destinations for cosmetic treatments globally further propelling the market growth.

Based on the service providers, private service providers are dominating the market of Global Inbound Medical Tourism Market.

Private service providers frequently stand out for their increased emphasis on individualized, patient-centered treatment. Medical tourists who seek not only the best medical care but also an experience that meets their particular needs are very receptive to this emphasis on individualized care and customized medical solutions. Private healthcare providers excel at providing individualized care plans, specialized treatments, and specialized lodgings, fostering an environment that is suitable for both leisure and medical rehabilitation. Private service providers also commonly advertise modern facilities and cutting-edge medical technology. With the use of these tools, they are able to provide a variety of medical services, from simple check-ups to intricate surgeries, with the level of accuracy and creativity that inspires confidence in and trust from potential medical tourists. The availability of the latest medical innovations leads to better patient outcomes and develops an exceptional reputation, further consolidating their market supremacy. Additionally, private service providers can quickly adjust to the changing needs of medical tourists because of their natural flexibility and agility. Contrary to governmental institutions, private providers frequently have expedited decision-making procedures that allow them to quickly implement new therapies, practices, or amenities in response to shifting market realities. Medical tourists are guaranteed access to the most cutting-edge healthcare solutions because of our capacity to stay on the cutting edge of medical innovation.

Market Drivers

• Globalization of healthcare: Patients want access to top-notch medical treatments, technology, and expertise that may be more easily accessible or more affordable in other countries. As a result, the globalization of healthcare has become increasingly important. The prevalence of chronic illnesses and complicated medical disorders is on the rise, which has made it more common for patients to look abroad for top-notch medical care and specialist therapies.
• Growing cost disparity of medical treatments: An important cause is the widening gap in medical treatment costs between nations. Patients from expensive healthcare systems are being driven in greater numbers to medical tourism locations where they can receive comparable or better care for a much lower price, offering a cost-effective alternative for those seeking elective or necessary medical procedures.

Market Restraints

• Intricacy and variability of regulatory frameworks: Medical tourists and service providers trying to traverse a complicated web of legal and administrative procedures may face substantial difficulties due to different healthcare rules, licensing requirements, and standards of care. This frequently leads to ambiguities, holdups, and potential conflicts that obstruct the smooth facilitation of medical travel and erode patient trust.
• Patient safety and quality assurance: Medical tourists may be drawn to locations with low or irregular healthcare standards since they frequently seek out affordable treatments there. As a result, they may be exposed to hazards from subpar medical procedures, subpar facilities, or subpar practitioners. It becomes extremely difficult to ensure consistent and exacting quality standards across several locations, demanding strict oversight and procedures for tracking and enhancing patient safety.

Market Trends

• Holistic wellness experiences: The growing importance of holistic wellness experiences, with medical tourists looking for not only cutting-edge medical care but also full wellness programs that include alternative therapies, mindfulness techniques, and restorative spa treatments A shift towards a more holistic and patient-centered approach is highlighted by the convergence of medical research and holistic well-being.
• Rise of niche medical tourism: The expansion of specialty medical tourism markets that cater to particular medical requirements or preferences is another noteworthy trend. This includes industries like fertility tourism, where people go for assisted reproductive treatments, and dental tourism, which provides top-notch and reasonably priced dentistry services in popular locations. This pattern indicates the rise in demand for specialized healthcare services that cater to specific patient needs.

Covid-19 Impacts

The COVID-19 epidemic has significantly and far-reaching altered the dynamics of the global inbound medical tourism market. A complex and varied situation has been created as a result of the viral outbreak, its quick global spread, the accompanying public health measures, and the resulting travel restrictions, which have had a substantial impact on different areas of medical tourism. Furthermore, the mobility of medical tourists was significantly hampered by the enactment of travel restrictions and lockdowns, both by individual nations and globally. Patients find it difficult to travel to their preferred medical tourism locations since many nations have closed their borders or imposed strict admission conditions. As a result, there was a substantial reduction in the number of medical tourists, which decreased patient flow and decreased financial support for hospitals. Medical tourism was negatively impacted as a result of the pandemic's use of healthcare resources and medical staff. Numerous medical facilities, particularly in areas where COVID-19 had a significant impact, were forced to shift their attention and resources away from treating COVID-19 patients, which led to a temporary suspension or reduction of non-essential medical services, including elective procedures that medical tourists frequently seek.

Market Players Insights

MD Anderson Cancer Center, Dana-Farber Cancer Institute, The Toronto General Hospital, The Queen Elizabeth Hospital Birmingham, Hospital Clínic de Barcelona , Albert, Einstein Israelite Hospital, Bumrungrad International Hospital, Seoul National University Hospital, The Charité - Universitätsmedizin Berlin , The San Raffaele Hospital , Gustave Roussy., KPJ Healthcare , NTT Medical Center Tokyo, Clemenceau Medical Center Hospital, Peking Union Medical College Hospital, Hospital Italiano de Buenos Aires, Dr. Sulaiman AL Habib Medical Group, Global Health Limited, Anadolu Medical Center, Galenia Hospital, Netcare Limited.

Considered in this report

• Geography: Global
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• Global Inbound Medical Tourism with its value and forecast along with its segments
• Region-wise Inbound Medical Tourism market analysis
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

Regions & Countries covered in the report

• North America (United States, Canada, Mexico)
• Europe (Germany, United Kingdom, France, Spain, Italy, Russia)
• Asia-Pacific (China, Japan, India, Australia, South Korea)
• South America (Brazil, Argentina, Colombia)
• Middle-East & Africa (UAE, Saudi Arabia, South Africa)

By Treatment Type

• Cancer Treatment / Oncology
• Cosmetic Treatment
• Orthopedics Treatment / Spine Treatment
• Cardiovascular Treatment
• Fertility Treatment / IVF Treatments
• Neurological Treatment
• Organ Transplant
• Bariatric Treatment
• Dental Treatment
• Alternative Treatment (Acupuncture, Ayurveda, Homeopathy, Naturopathy, Chinese or Oriental medicine, Chiropractic and osteopathic medicine, Massage, Body movement therapies, Tai chi, Yoga, Dietary supplements, Herbal medicine, Nutrition/diet, Electromagnetic therapy, Reiki, Qigong, Meditation, Biofeedback, Hypnosis, Art, dance, and music, Visualization and guided imagery, etc.)
• Ophthalmology Treatment
• Other Treatments (Dermatological treatments, ENT (Ear, Nose, and Throat) treatments, Allergy and Immunology treatments, Sleep disorder treatments, Mental health and psychological treatments, Urology, diabetology, Proctology, Vascular Surgery, etc.)

By Service Providers

• Private
• Public

The approach of the report

This report consists of a combined approach of primary and secondary research. Initially, secondary research was used to get an understanding of the market and list the companies that are present in it. The secondary research consists of third-party sources such as press releases, annual reports of companies, and government-generated reports and databases. After gathering the data from secondary sources, primary research was conducted by conducting telephone interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this; we have started making primary calls to consumers by equally segmenting them in regional aspects, tier aspects, age group, and gender. Once we have primary data with us, we can start verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations and organisations related to the Inbound Medical Tourism industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing and presentations, it will also increase competitive knowledge about the industry.