Medical Tourism Market Size, Share, Growth Analysis, By Treatment Type(Cosmetic Tourism, Cardiovascular and Orthopedic), By Service Provider(Public, Private), By Destination(Domestic, International), By Region - Industry Forecast 2024-2031

Global Medical Tourism Market size was valued at USD 17.35 Billion in 2022 and is poised to grow from USD 20.7 Billion in 2023 to USD 84.29 Billion by 2031, growing at a CAGR of 19.2% in the forecast period (2024-2031).

In the past few years, the medical tourism market has been experiencing substantial growth owing to the advancements in medical care technologies, rising affordability, and increasing demand for specialized treatments. The high expense of healthcare services in many developing economies is also propelling the growth of the market. Furthermore, the market is boosted by the increasing demand for procedures that are not insured, like gender reassignment surgeries, reproductive therapies, and aesthetic surgeries. Medical tourists travel all over the international boundaries to preserve and enhance people’s health by using affordable medical amenities. Rapid developments in medical technologies and telemedicine have allowed globalization of the medical services. Patients can now research and connect with medical facilities and providers globally. This has made it easier for them to gain information about treatment options, expenses, and quality of care in different medical tourism destinations, boosting the market growth. Medical tourism is also known as health tourism is a set up where people travel across international borders for gaining medical, surgical, or other healthcare services. It consists of a wide range of treatments, like elective and cosmetic procedures, specialized medical interventions, and complex surgeries. It also expands beyond the medical procedures and involves pre-operative and post-operative care, consultations, diagnostics, and recovery. These factors are boosting the progression of the medical tourism market.