Medical Tourism Market, By Service Provider (Public and Private), By Treatment Type (Orthopedic Treatment, Cosmetic Treatment, Bariatric Treatment, Dental Treatment, Ophthalmology Treatment, Infertility Treatment, Alternative Medicine, and Other Services), By Geography (North America, Latin America, Europe, Asia Pacific, Middle East & Africa)

Published In : Feb 2025

Code : CMI938

Pages :141

Formats :

Excel and PDF

Industry : Pharmaceutical

Medical Tourism Market Size and Trends

The medical tourism market is estimated to be valued at USD 16.51 Bn in 2025 and is expected to reach USD 39.84 Bn by 2032, growing at a compound annual growth rate (CAGR) of 13.4% from 2025 to 2032.

Medical Tourism Market Key Factors

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The market has been witnessing steady growth over the past few years driven by factors such as availability of different treatment options at lower costs compared to domestic healthcare, no waiting time for treatments abroad, and availability of advanced medical facilities and treatments across various countries globally. Countries in South-East Asia like Thailand, Singapore, and India have especially gained popularity among medical tourists looking for quality healthcare and treatment in a cost-effective manner. Growing medical expenditures and rising out-of-pocket payments in developed nations have further boosted the global medical tourism industry.

Low cost of treatment

One of the major drivers for the growing medical tourism industry globally is the significantly lower cost of medical treatments in various popular destinations compared to developed countries. Patients from countries like the U.S., Canada, the U.K., and other Western European nations travel abroad for affordable treatments as costs for many routine and elective procedures within their home country's healthcare system continue to rise steeply. Countries like India, Thailand, Mexico, and Turkey have seen a big uptake in medical tourists arriving for procedures and surgeries as the treatment expenditure can be five to 10 times lower for the same quality of care. While developed countries struggle with inflated healthcare budgets owing to escalating costs of new technology, medicines, and an aging population, many destination countries have maintained costs comparatively very low by having less regulatory barriers and lower labor costs. This is enabling doctors and hospitals in these markets to offer highly competitive packaged prices for common orthopedic, cardiac, dental, cosmetic, and fertility treatments which were previously unaffordable for masses