Medical Tourism Market Trends

Statistics for the 2023 & 2024 Medical Tourism market trends, created by Mordor Intelligence™ Industry Reports. Medical Tourism trend report includes a market forecast to 2029 and historical overview. Get a sample of this industry trends analysis as a free report PDF download.

Market Trends of Medical Tourism Industry

Cosmetic Treatment Segment Expected to Have Healthy Growth Rate Over the Forecast Period

Cosmetic treatment tourism is the phenomenon of patients seeking cosmetic surgery overseas to avoid waiting lists, access, cost constraints, or legal requirements in their native country. Standard procedures requested under cosmetic treatment tourism include breast augmentation, liposuction, facelift, tummy tucks, eyelid surgery, and nose reshaping. The increased patient spending on cosmetic procedures and willingness to travel for a cosmetic procedure is expected to drive the market. For instance, as per the ASPS Insights and Trend Report 2022, 59% of patients are willing to spend "somewhat more," and 17% noted a substantial increase in patient spending for cosmetic procedures. Furthermore, according to the Aesthetic Plastic Surgery National Databank 2020-2021, surgical procedures increased by 54%, and non-surgical procedures were up by 44% in the United States. With such an increase in cosmetic procedures, the demand for treatment tourism increases, driving the market's growth.

Furthermore, according to an article published by G/O Media Inc., in August 2022, compared to just 6% in the United States, eyelid surgery accounted for 65% of all cosmetic treatments in Japan. Turkey is a popular medical tourism destination for plastic surgeries, and Rhinoplasties are the most often performed treatment, particularly among people from Middle Eastern nations. Such reports demonstrating the increasing number of tourists for cosmetic treatments are expected to propel the segment's growth.

Hence, the cosmetic treatment segment is estimated to witness significant growth over the forecast period due to the abovementioned factors.

Medical Tourism Market - Top Surgical Procedures (in Thousand), United States, 2021

Asia-Pacific Region is Expected to Hold Significant Market Share Over the Forecast Period

The Asia-Pacific region is expected to hold a significant market share owing to the preference for medical tourism across the region's developing countries, initiatives taken by the government, and the low cost of medical treatment in this region. Healthcare in India is significantly less expensive than in Western and Middle Eastern countries. According to IJIRA, in December 2021, the cost of medical care and treatment in India was about 50% less compared to Europe. Also, there is a 65% to 90% savings on treatment here compared to America. Such statistics demonstrate the stronghold of Asia-Pacific countries in medical tourism worldwide.

Additionally, the initiatives taken by the governments of Asia-Pacific countries are also expected to propel the market's growth in the region. For instance, in April 2022, the Government of India planned to launch a particular category of AYUSH visas for tourists visiting India for medical treatment or tourism in traditional medicine. This initiative is a part of the government's "Heal In India" campaign to promote medical tourism in India. Additionally, in February 2022, Japan expanded its health tourism offerings by including "wellness" facilities to attract tourists. The wellness offerings include spas, yoga and meditation classes, and fitness programs.

Furthermore, in September 2022, Korea Health Industry Development Institute (KHIDI) revamped the official website of Medical Korea, featuring information related to the use of Korean medical services. Reports on operations and treatment of medical specialties, including oncology, cardiology, and organ transplantation, are available on the Medical Korea website, which lists clinics and hospitals designated to treat foreign patients. Such initiatives undertaken by the government are expected to boost the market's growth over the forecast period.

Thus, the market is expected to witness healthy growth in the Asia-Pacific region over the forecast period due to the abovementioned factors.

Medical Tourism Market - Growth by Region

Medical Tourism Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)