Medical Tourism Market Report 2025

The medical tourism market size has grown rapidly in recent years. It will grow from $82.69 billion in 2024 to $92.63 billion in 2025 at a compound annual growth rate (CAGR) of 12%. The growth in the historic period can be attributed to emerging markets growth, increased incidence of cardiovascular diseases, growth in cosmetics procedures, rise in demand for body contouring and rising disposable personal income.

The medical tourism market size is expected to see rapid growth in the next few years. It will grow to $186.99 billion in 2029 at a compound annual growth rate (CAGR) of 19.2%. The growth in the forecast period can be attributed to government initiatives, lower cost care for surgeries, increase in geriatric population, rising number of medical tourists and technological advancements. Major trends in the forecast period include metaverse for medical tourism, use of mobile technology, adoption of precision medicine, mergers and acquisitions, use of artificial intelligence and partnerships and collaborations.

The growth of the medical tourism market is driven by the high healthcare costs in developed countries, leading patients to seek more affordable treatment in developing nations with quality healthcare infrastructure. A study by the Centers for Disease Control and Prevention revealed that approximately 0.75 - 1.6 million people from the USA travel abroad for medical care to escape the exorbitant treatment expenses. For instance, a hip replacement surgery in the USA costs around $39,299, while the same procedure in developing countries such as India or Costa Rica ranges between $7,000 and $15,000, inclusive of logistics.

The increasing aging population is anticipated to drive growth in the medical tourism market in the coming years. An aging population refers to the rise in the number of older individuals due to shifts in the age distribution of a population. This demographic often experiences age-related diseases that require medical assistance. For example, in May 2024, the Administration for Community Living, a U.S.-based government agency, reported that in 2022, 17.3% of the population was 65 years or older, with this figure projected to rise to 22% by 2040. Consequently, the growth of the aging population is a key factor fueling the expansion of the medical tourism market.

Major players in the medical tourism market are focusing on strategic partnerships to better serve their existing consumers. Honeywell International Inc. has collaborated with University Hospital Brno and Narayana Hrudayalaya Limited to accelerate the global digitization of healthcare. This collaboration aims to co-create breakthrough technologies that transform healthcare delivery. In September 2022, Honeywell International Inc. announced its partnership with University Hospital Brno and Narayana Hrudayalaya Limited for the development of new technologies. The initial pilot at University Hospital Brno involves testing skin patches for continuous tracking of patients' vital parameters, with data accessible through a mobile app. The collaboration aims to introduce new products, establish technology development centers, co-create capacities for technology expansion and research, and implement fire safety measures for end-to-end life security in hospitals. University Hospital Brno is the second-largest hospital in the Czech Republic, while Narayana Hrudayalaya Limited is a multispecialty hospital based in India.

In December 2022, Advocate Aurora Health and Atrium Health, two prominent healthcare organizations, completed their merger. Advocate Aurora Health, a non-profit healthcare system with 26 hospitals and over 500 care locations, and Atrium Health, a US-based hospital network, united to prioritize meeting patient needs by reimagining the delivery of care. Advocate Health aims not only to deliver optimal health outcomes and enhance care accessibility and affordability but also to be a catalyst for meaningful social change. The merged organization's goals include expediting medical advances, addressing health disparities, promoting population health, supporting professional development, and achieving carbon neutrality by 2030.

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.

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. The countries covered in the medical tourism market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Canada, Spain.

The medical tourism market includes revenues earned by entities by providing inbound medical tourism services, and outbound medical tourism services. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

Medical tourism involves traveling to another country exclusively for medical treatment, which is particularly beneficial for individuals residing in regions where suitable medical facilities are lacking.

The primary categories of medical tourism are domestic and international. Domestic health or medical tourism occurs when an individual travels within their own country to receive superior medical treatment or when the therapy available in their usual place of residence is prohibitively expensive. Treatment options encompass cosmetic procedures, dental interventions, cardiovascular treatments, orthopedic procedures, bariatric interventions, fertility treatments, ophthalmic procedures, and others. Service providers include both public and private entities. The array of healthcare services spans medical treatment, wellness offerings, and alternative treatments.

The medical tourism market research report is one of a series of new reports that provides medical tourism market statistics, including medical tourism industry global market size, regional shares, competitors with a medical tourism market share, detailed medical tourism market segments, market trends and opportunities, and any further data you may need to thrive in the medical tourism industry. This medical tourism market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

This product will be delivered within 3-5 business days.