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Medical Tourism Market Trends

Report ID: GMI3022
Published Date: Apr 2024
Report Format: PDF

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Medical Tourism Market Trends

The market is experiencing several notable trends that are shaping its growth and development. Factors such as rising adoption of telemedicine and virtual consultations, growing focus on health and wellness tourism, and surging demand for integrated technology and digital health solutions, among other factors are propelling the industry growth.

With the global aging population, there is a rising demand for medical tourism services catering to elderly patients seeking specialized geriatric care, age-related treatments, and retirement healthcare options. Medical tourism destinations are adapting their offerings to accommodate the needs and preferences of older patients, including accessible facilities, geriatric assessments, and senior-friendly services.
Furthermore, medical tourism providers are increasingly leveraging technology and digital solutions to enhance the patient experience and streamline healthcare services. This includes online appointment scheduling, electronic medical records (EMR) systems, mobile health apps, and telemedicine platforms. Digital innovations improve communication, efficiency, and transparency in the medical tourism process, from initial inquiry to post-treatment follow-up. Hence, aforementioned factors are expected to drive the market.

Authors: Mariam Faizullabhoy , Gauri Wani

Frequently Asked Questions (FAQ) :

Medical tourism market size was USD 26.4 billion in 2023 and is expected to register 16.3% CAGR from 2024-2032 owing to increasing demand for surgeries and treatment procedures that are not covered by insurance worldwide.

The cosmetic surgery segment recorded USD 7.5 billion in 2023 and is expected to register an appreciable CAGR from 2024-2032 due to significantly increasing preference for procedures aimed at altering and enhancing physical appearance.

North America medical tourism industry is expected to register 15.6% CAGR from 2024-2032 due to high demand for cosmetic and elective procedures, largely influenced by aesthetic preferences, beauty standards, and lifestyle choices in the region.

Bumrungrad International Hospital, Fortis Healthcare Limited, KPJ Healthcare Berhad, MANIPAL HEALTH ENTERPRISES PVT LTD, Max Healthcare, Mount Elizbeth Hospitals, Narayana Health, and Raffles Medical Group, are some of the major medical tourism companies worldwide.