Outbound Medical Tourism Services Market

Global Outbound Medical Tourism Services Market Size (2024 to 2029)

The global outbound medical tourism services market is predicted to be worth 461 billion by 2029 from USD 257 billion in 2024, growing at a CAGR of 12.39% from 2024 to 2029.

MARKET DRIVERS

The growing marketing and advertising efforts in the field of medical tourism are one of the major factors driving the outbound medical tourism services market growth. Advancements in digital marketing and advertising allowed medical tourism providers to reach a global audience easily. Online campaigns and social media platforms are major drivers that provide and can showcase their services to potential patients around the globe. Effective marketing campaigns majorly helped to raise more awareness about medical tourism as a viable option for accessing quality healthcare at a lower cost. As this factor increases awareness and demand for more cost-effective solutions such as medical tourism, this factor propels market growth. 

The availability of lower treatment costs in developing countries further fuels the growth rate of the outbound medical tourism services market. The substantial cost-saving ability of medical tourism is one of the primary reasons that help individuals seek medical treatment in developing countries. The rising prevalence of surgeries needs appropriate treatment that is significantly cheaper in developing countries owing to lower labor and operational costs. Medical tourism services offer comprehensive package deals, including the cost of treatment, accommodation, and transportation; this further enhances the cost-effectiveness of taking medical treatment abroad.

The availability of the latest medical technologies drives the adoption of medical tourism and favors market growth. Developing countries with advanced medical facilities can attract patients who are looking for the latest advancements in healthcare. Advanced medical technologies lead to the development of minimally invasive procedures that result in shorter recovery time, reduced pain, and better outcomes, also it led to the development of novel treatments and therapies which can be attractive to medical tourists looking for unconventional options, as more benefits associated with the advanced technologies.  

Factors such as the growing awareness towards fitness and well-being, increasing compliance with international quality standards and services, the availability of the latest medical technologies, and the cost-effectiveness of treatment in developing countries boost market growth. 

MARKET RESTRAINTS

Slower adoption of outbound medical tourism services in some countries and economic restraints faced by emerging countries majorly hinder global market growth. Stringent regulatory conditions in some countries, complex processes, medical licensing issues, and legal constraints further deter outbound medical tourism services and impede global market growth. Some countries lack the necessary healthcare infrastructure and facilities to cater the medical tourists effectively, which can be a barrier to the global market. Insufficient medical facilities and qualified medical professionals further deter market growth.

Impact of COVID-19 on the global outbound medical tourism services market

The outbound medical tourism services market was negatively impacted by the COVID-19 pandemic. The measures taken by the governments of several countries to limit the spread of coronavirus among people, such as strict restrictions, social isolation and lockdowns, severely impacted the outbound medical tourism market. Many countries restricted international flights due to the widespread novel- coronavirus that made it difficult for medical tourists to travel for treatment and affected the market growth. The healthcare system in various countries redirected their resources and shifted their focus towards the settlement of the COVID-19 pandemic, which led to the cancellation of non-essential medical procedures, and this has directly impacted the demand for outbound medical tourism services. Likewise, the COVID-19 pandemic has shown an unfavorable impact on the outbound medical tourism services market. On the other hand, the COVID-19 pandemic has boosted the adoption of digital health platforms such as telemedicine and telehealth. Medical tourists have taken advantage of these platforms to fulfill their medical needs to some extent.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Outbound Medical Tourism Services Market Analysis By Treatment Type

Based on treatment type, the cosmetic treatment tourism segment is predicted to grow at the highest CAGR during the forecast period. The growing spending on cosmetic procedures and the willingness of the patient to travel for cosmetic procedures majorly drive the growth of the cosmetic treatment tourism segment in the global market. According to a 2022 report, an estimated 61% of people are willing to spend on cosmetic procedures to look beautiful.

The cardiovascular treatment segment is anticipated to account for a substantial share of the global market during the forecast period. The population suffering from CVDs is growing rapidly worldwide. The costs associated with cardiovascular diseases are significant and medical tourism services offer cost-effective treatment options in developing countries for cardiovascular diseases, which is one of the major factors propelling the cardiovascular treatment segment in the global market.

Global Outbound Medical Tourism Services Market Analysis By Services

Based on services, the wellness services segment is expected to hold the largest share of the global market during the forecast period. The growing spending ability of people is one of the key factors propelling the wellness services segment in the global market. Nowadays, people are ready to spend significant amounts on cosmetic procedures and willing to travel for these cosmetic procedures. The growing awareness among the population regarding health and wellness and an increasing number of initiatives from the governments of several countries and a growing number of online campaigns further fuel the growth rate of the wellness services segment in the global market.

On the other hand, the therapeutic services segment is predicted to account for a considerable share of the global market in the coming years. The availability of therapeutic services provides an opportunity for medical tourism services to cater to a diverse range of patient needs. The medical tourism services offer a comprehensive range of therapies. These factors propel the growth of the therapeutic services segment in the worldwide market.

REGIONAL ANALYSIS

North America is expected to capture the major share of the worldwide market during the forecast period. The presence of numerous well-developed healthcare facilities, the availability of advanced healthcare infrastructure, especially in the U.S. and Canada, the availability of the latest medical technologies and cost-effective solutions for treatment drive the growth of the outbound medical tourism services market in North America. The affluent population of the North American region seeking cost-effective healthcare options abroad, particularly in countries offering high-quality medical services, further propels the regional market growth. The U.S. is expected to lead the market in the North American region during the forecast period. Factors such as the high healthcare costs and insurance premiums in the U.S., strong healthcare infrastructure and quality standards that ensure patient safety and care drive the U.S. market growth.

Europe is expected to be the second largest regional market globally and is estimated to account for a substantial share of the global market during the forecast period owing to the availability of advanced medical procedures, shorter wait times, and cost savings in neighboring countries. Factors such as high-quality healthcare systems, skilled medical professionals in Western European countries and the rising popularity of Eastern European countries for affordable and high-quality medical care further propel the European market growth. Germany, followed by France, are expected to account for the major share of the European market during the forecast period.

APAC is the most lucrative regional market for outbound medical tourism services worldwide and is estimated to project a promising CAGR during the forecast period. The growing preference for medical tourism across the region’s developing countries, initiatives taken by the governments of APAC countries in favor of medical tourism and the availability of cost-effective medical treatment majorly propel the APAC market growth. The cost of medical treatment and personalized care are significantly less expensive in India than in Western and Middle Eastern countries. The treatment cost in India is 50% less than in Europe.

KEY MARKET PLAYERS

Apollo Hospital Enterprise Limited, T Global Medical Tourism Inc., Christus Muguerza Hospital Mednamaste, KPJ Healthcare Berhad, Bumrungrad International Hospital, and World Med Assist are some of the major players in the global outbound medical tourism services market.

RECENT DEVELOPMENT IN THE MARKET

• In October 2022, Turkish Airlines started a program that will charge USD 5,000 for weekly medical tours from the United States.
• In August 2022, for incoming international passengers traveling to India for medical reasons, the Government of India listed ten airports—Delhi, Mumbai, Chennai, Bengaluru, Kolkata, Visakhapatnam, Kochi, Ahmedabad, Hyderabad, and Guwahati—that would have special desks, a multilingual portal, and simplified visa requirements.

DETAILED SEGMENTATION OF THE GLOBAL OUTBOUND MEDICAL TOURISM SERVICES MARKET INCLUDED IN THIS REPORT

This research report on the global outbound medical tourism services market has been segmented and sub-segmented based on the treatment, services and region.

By Treatment Type

• Cosmetic Treatment 
• Dental Treatment
• Cardiovascular Treatment
• Orthopedics Treatment
• Bariatric Treatment
• Fertility Treatment
• Ophthalmic Treatment

By Services

• Wellness Services
• Therapeutic Services

By Region

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