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North America has firmly established itself as the dominant regional market for medical tourism with 38.8% of the market share. The presence of world class medical facilities, highly skilled doctors, and the ability to provide a wide range of specialized treatments at globally competitive prices have all contributed to North America's top position. Key markets like the U.S. and Canada have a large pool of Joint Commission International (JCI) accredited hospitals with the most advanced medical technologies and equipment. There is a strong emphasis on research and development which has enabled the region to emerge as a leader in complex specialty areas such as oncology, cardiology, and organ transplants
Asia Pacific has emerged as the fastest growing regional market for medical tourists. Countries like Thailand, Singapore, Malaysia, and India have developed robust medical tourism industries in the last decade by leveraging their competitive advantages. Thailand in particular has experienced exponential growth on the back of initiatives to promote the country as a top Asian destination for wellness and medical travel. It is now the second most popular globally. The region provides high quality healthcare at substantially lower costs compared to Western nations. Various governments offer long term medical visas and have liberal medical licensing policies to attract patients. South East Asian nations also have a language advantage as English is widely spoken. The popularity of Ayurvedic and traditional Chinese medicine in select markets is another key attraction.
Medical Tourism Market Report Snapshots
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