Outbound Medical Tourism Services Market Size, Share and Trends 2024 to 2034

Outbound Medical Tourism Services Market Size and Forecast 2024 to 2034

The global outbound medical tourism services market size accounted for USD 247.38 billion in 2024 and is predicted to surpass around USD 755.39 billion by 2034, growing at a CAGR of 11.81% from 2024 to 2034.

Outbound Medical Tourism Services Market Key Takeaways

• North America dominated the global outbound medical tourism services market in 2023.
• Asia Pacific is anticipated to grow at a notable growth rate in the market during the forecast period.
• By treatment type, the cancer treatment segment accounted for the dominating share of the market in 2023 and is projected to continue its dominance over the forecast period.
• By treatment type, the cardiovascular treatment segment will witness considerable growth in the market over the forecast period.

Market Overview

Over the years, medical tourism has continued to grow with the rising globalization of health care. Medical tourism plays a significant role in the future of medical and tourism industries around the globe. Outbound medical tourism refers to an individual traveling to foreign country to seek medical treatments and procedures. The outbound medical tourism services market includes a wide range of healthcare services, such as wellness treatments, elective surgeries, specialized medical interventions, and others.

INDIA VS THE REST : COST OF TREATMENTS (in $)

Outbound Medical Tourism Services Market Growth Factors

• The rising trend of cosmetic and weight loss treatment is positively influencing the outbound medical tourism services market’s growth during the forecast period.
• The rising population and rise in per capita income are estimated to accelerate the outbound medical tourism services market growth rate during the forecast period.
• The rising availability of medical expertise in developed and developing countries is expected to contribute to the expansion of the market in the coming years.
• The rising awareness about early detection of chronic diseases is expected to be credited for driving the market’s growth.
• The significant rise in Government initiatives and favorable policies to attract foreign medical tourists is projected to create lucrative growth opportunities for the outbound medical tourism services market during the forecast period.

Market Scope

Market Dynamics

Driver

Rising demand for effective treatment

The increasing demand for effective treatment is expected to boost the expansion of the outbound medical tourism services market in the coming years. Due to the rise in chronic diseases, individuals are traveling to foreign countries to receive the best medical treatment facilities for their illnesses from experts. Outbound medical tourism assists in seeking various high-quality treatments such as cancer treatment, organ and tissue transplantation, cosmetic surgery, orthopedics treatments, cardiovascular treatment, skin treatment, dental surgery, weight loss, IVF treatment, and others. The success rates of treatment and patient outcomes are vital indicators of a country's healthcare system's efficiency in managing the disease. Countries with higher success rates are more attractive to medical tourists.

Restraint

High cost

The high cost associated with outbound medical tourism is anticipated to projected to hamper the outbound medical tourism services market growth. High capital is required to seek effective treatment in developed foreign countries.  In addition, the limited insurance coverage for international medical treatments and ensuring the continuity of post-treatment follow-up can pose a challenge for patients after returning to their home countries.

Opportunity

Rising advancement in healthcare infrastructure

The rapid advancement in healthcare infrastructure is projected to offer lucrative opportunities to the outbound medical tourism services market during the forecast period. The expansion of high-quality healthcare facilities equipped with advanced healthcare technologies in several developed and developing countries is likely to attract medical tourists to offer high-quality treatment. Many countries are heavily investing in building modern healthcare infrastructure and cutting-edge technology. This includes state-of-the-art diagnostic tools, hospitals, and radiation therapy facilities. Major market players are focusing on high-end medical technologies and clinical research to boost medical tourism.

Moreover, the supportive government’s initiative to promote medical tourism in their countries to boost economic growth is likely to accelerate the growth of the market in the coming years. For instance, Medical tourism in India increased by around 33% year-on-year in 2023, with expectations to surpass the pre-pandemic levels of 700,000 visitors recorded in 2019 in the calendar year 2024, according to the credit rating agency ICRA. This growth is attributed to the central government’s initiative to extend e-medical visa facilities to nationals of 167 countries, which is anticipated to boost medical tourism footfalls.

Treatment Type Insights

The cancer treatment segment accounted for the dominating share of the outbound medical tourism services market in 2023 and is projected to continue its dominance over the forecast period owing to the rise in cancer cases. Constantly evolving tech advances have significantly increased the success rates of treatment and patient outcomes. Countries like the United States, Japan, Singapore, South Korea, Taiwan, and others have sophisticated healthcare infrastructure with the availability of advanced treatment facilities and specialized care that attract foreign medical tourists to receive cancer treatment.

Rapid advancements in genetic research and personalized medicine enable healthcare professionals to tailor treatments to individual patients according to their genetic makeup. Personalized medicine assists patients in receiving individualized treatments as per their genetic profiles and unique biological properties, which has resulted in improving survival rates and treatment success in cancer diagnostics and treatments. 

According to the data released by the World Health Organization (WHO)’s cancer agency, the International Agency for Research on Cancer (IARC) in February 2024:

• There were around 20 million new cases of cancer and approximately 9.7 million deaths in 2022. It is reported that about one in five people will develop cancer during their lifetime.
• Lung cancer was the most commonly occurring cancer worldwide with 2.5 million new cases accounting for 12.4% of the total new cases. Female breast cancer ranked second (2.3 million cases, 11.6%), followed by colorectal cancer (1.9 million cases, 9.6%), prostate cancer (1.5 million cases, 7.3%), and stomach cancer (970 000 cases, 4.9%).
• Over 35 million new cancer cases are predicted in 2050, a 77% increase from the estimated 20 million cases in 2022. The rapidly growing global cancer burden reflects both population aging and growth, as well as changes to people’s exposure to risk factors, several of which are associated with socioeconomic development. Tobacco, alcohol, and obesity are key factors behind the increasing incidence of cancer, with air pollution still a key driver of environmental risk factors.

The cardiovascular treatment segment will witness considerable growth in the outbound medical tourism services market over the forecast period owing to the rising prevalence of heart-related diseases. Several countries such as the United States, Germany, India, South Korea, and Singapore are significantly investing in healthcare infrastructure and have the presence of leading cardiac surgeons. These countries offer modern technology and extensive medical services for cardiovascular treatment, which attracts foreign patients with heart-related diseases. Cardiovascular disease remains the leading cause of mortality for men and women globally. 

• Nearly 620 million people are living with heart and circulatory diseases across the world. Each year around 60 million people across the world develop a heart or circulatory disease. Globally it’s estimated that 1 in 13 people are living with a heart or circulatory disease. 

Regional Insights

North America dominated the global outbound medical tourism market in 2023. Every year, millions of medical tourists travel to North America to get the best treatment service for diseases such as cancer, heart-related ailments, cosmetics, orthopedics, fertility, and other medical expertise. Over the years, the region has become the medical hub due to the presence of highly skilled medical expertise, rapid advancement in healthcare technologies, and an increase in healthcare facilities such as hospitals and clinics. 

North America has become the one-stop service for patients around the world to receive for major chronic diseases. The United States is the major contributor to the market. In the recent decade, the United States has experienced a significant rise in the number of medical tourists and patients traveling from their home countries to seek medical care. The United States has advanced medical research and top-tier treatment centers. 

• The U.S. offers a range of popular services for medical tourists. 6,120 hospitals as of 2022, as reported by the American Hospital Association), providing medical tourists with a wide range of healthcare facilities across the country. 
• In October 2024, A new trend emerged within the U.S. that is reshaping the concept of healthcare, prescribing nature-based healing as part of a wellness regimen. An example of this can be found in the Santa Cruz Mountains of California, where doctors are encouraging patients to visit the idyllic Audrey Edna Cabin for a unique form of therapeutic care. 
• In October 2024, Genoma is one of the leading stem cell treatment centers in the United States, focused on regenerative applications of stem cells for treatments of chronic, degenerative diseases with outstanding results.  Genoma cpllabirated with the Medical Tourism Association (MTA), the global authority in the medical travel industry, and obtained its Gold Membership as a key step to expanding its offerings to the international market.

Asia Pacific is anticipated to grow at a notable growth rate in the outbound medical tourism services market during the forecast period. In the realm of medical tourism, the region offers high-quality and cost-effective healthcare treatments, surgeries, or specialized procedures related to dental surgery, cardiovascular treatment, orthopedic treatments, IVF cancer treatment, fertility treatment, and others. The region also has professional medical tourism agencies that offer reliable medical tour services, ranging from airport pickups to hospitalizations, treatments, surgeries, and tours. 

• In October 2024, Health Minister Budi Gunadi Sadikin stated that the NgoerahSun Wellness and Aesthetic Center at Prof. Ngoerah General Hospital in Denpasar aims to transform the tourism industry in Bali from nature- and culture-based to medical-based. 
• China’s outbound tourists number nearly 200 million annually, spanning almost 200 countries, indicating a substantial demand for medical and healthcare services due to their significant spending power. 

Countries like India, China, Japan, South Korea, and Malaysia have become medical tourism spots. The rise in healthcare costs in developed countries and the rising availability of affordable healthcare options in developing countries, influence more people to travel for medical treatment. Hainan, recognized as China's international free trade zone and tourism island, offers unique advantages such as favorable tax policies and trade benefits that create an ideal environment for hosting medical tourism exhibitions. Moreover, Hainan offers visa-free access to tourist groups from 59 countries, enhancing its appeal as a host for international participants and visitors.

• In July 2024, the 2024 World Medical Tourism Conference and Medical Tourism Expo (Haikou, China) together with the 8th Hainan International Health Industry Expo, will take place from November 15-17, 2024, at the Haikou Hainan International Convention and Exhibition Center in China. It is anticipated to draw nearly 300 international hospitals and medical tourism service providers from around the world, showcasing a variety of distinctive medical services from different nations.

High-quality and affordable, along with the latest technology and renowned specialists, is anticipated to fuel the expansion of the outbound medical tourism services market in the region. India is witnessing a surge in medical tourism seeking IVF, skin treatment, and dental care owing to its cost-effectiveness as compared to many Western countries with the availability of highly qualified surgeons and hospitals equipped with modern facilities and technologies. 

• In June 2024, Hyderabad Chief Minister A Revanth Reddy said the state government is planning to set up a medical and health tourism hub, spread over 1,000 acres, in Telangana.
• India saw a dramatic increase in medical tourists from Bangladesh in 2023, with numbers soaring 48% to 449,570 from 304,067 in 2022.
• According to the statement released by the officials in June 2023, India generated an income of USD 7,400 million through medical tourism over the last decade, and the figure is expected to rise to USD 43,500 million in the next 10 years.
• In April 2023, the Union Minister of State for Tourism stated that an estimated 1.4 million tourists visited the India in last one year.

With state-of-the-art medical equipment, smart IT-based medical technologies, smart hospitals, and innovative treatments. South Korea is advancing steadily to emerge as a leading global healthcare destination. Korea has the world’s highest cancer survival rate in innovative cancer treatment technology. The five-year survival rate of stomach cancer patients is 77% in Korea, which is two or three times higher than that of the U.S. (32.4%) and UK (21.6%) 3 of the top 20 global hospitals for cancer treatment are based in Korea. Also, hospitals, universities, and various research institutes in the country are dedicated to new medical technologies used for cancer treatment. University hospitals and general hospitals as well as 12 government-designated cancer centers offer the world’s best-in-class cancer treatments.

South Korea also has some of the best orthopedic centers in the world, ranking fifth globally in the number of spine disease research papers and record high success rates for complex orthopedic procedures. 4 of the top 30 hospitals for orthopedic treatments are based in Korea, which is also home to the top 9 global orthopedic centers in the world. Korea offers cutting-edge treatments at affordable rates. For instance, in comparison to the United States USD 40,364, the cost of a hip replacement in South Korea is nearly 30% cheaper at USD 25,000. In addition, while knee replacement costs USD 35,000 and face lift costs about USD 11,000 in the United States, these procedures can be done at USD 20,000 and USD 6,000 respectively in Korea.

This has increased the number of foreign patients coming to Korea as medical tourists in the last few decades, with over 497,464 foreign patients visiting Korea before the pandemic in 2019, with more than 600,000 international patients traveling to Korea in 2023 for medical care. Korea has become a leading medical tourism destination with world-class health facilities with dedicated international patient centers.

The Korean government runs an international medical tour coordinator license program to improve the patient experience for medical tourists. Korea Tourism Organization is continuously working with global partners, particularly the Medical Tourism Association (MTA) to expand the medical tourism industry, attract more health payers, and provide world-class medical care to medical tourists around the world. 

Medical tourism is a significant pillar in boosting Malaysia’s economy. Malaysia Healthcare Travel Council (MHTC) aims to generate RM2.4 billion in revenue from the health tourism sector in 2024.  Malaysia Healthcare Travel Council (MHTC), an agency under the Ministry of Health (MOH), told Bernama (Malaysian National News Agency) that the country recorded 584,468 health tourist arrivals for the first half of 2024. Malaysia recorded more than one million health tourist arrivals in 2023, up by a significant 15% from 850,000 in 2022, becoming the fastest-growing medical destination. MHTC stated that Indonesia was the highest contributor of health tourists to Malaysia, comprising 70% to 80% of the total number in 2023.

Outbound Medical Tourism Services Market Companies

• Apollo Hospitals
• Bumrungrand International Hospitals
• Christus Muguerza S.A.P.I De CV
• Prince Court Medical Center
• Clemenceau Medical Center
• Asian Heart Institute
• Gleneagles Hospital
• KPJ Healthcare
• Asklepios Kliniken GmbH
• Bangkok Dusit Medical Services
• Fortis Healthcare Ltd

Recent Developments

• In July 2024, in response to the evolving need to simplify access to global healthcare for patients, Mastercard and the Medical Tourism Association (MTA) announced a strategic partnership to modernize the end-to-end healthcare experience for patients and providers around the world. 
• In November 2023, Selika 94, a renowned center for digestive health and gastroenterology in Colombia, achieved gold membership of the Medical Tourism Association, a step it says will redefine its business and boost its reach to clients worldwide.  Selika is renowned for cutting-edge approaches to the treatment of digestive tract problems, including colon cancer and liver diseases, through minimally invasive procedures, including endoscopic techniques.
• In October 2024, City International Hospital recently earned a Gold Membership of the Medical Tourism Association (MTA) as it continues to explore new markets in different regions. City International Hospital is a multi-specialist center, regarded as a Center of Excellence in Stroke, Cardiology, and Surgery. It has expanded its offerings to provide advanced cutting-edge solutions to complex medical problems. 

Segments Covered in the Report

By Treatment Type

• Dental Treatment
• Cosmetic Treatment
• Cardiovascular Treatment
• Orthopedic Treatment
• Neurological Treatment
• Cancer Treatment
• Fertility Treatment
• Others

By Geography

• North America
• Asia Pacific
• Europe
• Latin America
• Middle East and Africa