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Medical Tourism Market - Industry Trends, Opportunities and Forecasts to 2023

  • ID: 4435900
  • Report
  • 92 pages
  • Knowledge Sourcing Intelligence LLP
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  • ABT - Global
  • BB Health Solutions
  • CosMedic Tour
  • Cosmedic Travel
  • Euromedical Tours
  • Fortis Healthcare Limited
  • MORE
Medical Tourism Market is projected to grow from US$56.333 billion in 2018 to US$136.591 billion in 2023, growing at a CAGR of 19.38% over the forecast period. Continuous rising medical costs in the U.S. and Europe with improved standards of healthcare technology in developing nations like India and China are driving the growth of medical tourism industry. Other factors such as rising aging population worldwide, availability of affordable world-class medical facilities in emerging economies, and high medical insurance costs in developed regions are also boosting the demand for medical tourism globally.

APAC region has become the new hub for the medical tourism industry as countries in this region comprise high standards of hospitality with wide exposure to latest technology in the medical sector. Availability of low priced medical treatment options coupled with improved infrastructure in terms of healthcare facilities is making Asia Pacific an attractive location for medical tourism. While countries such as Thailand, India, and Malaysia have already become key regions for medical tourists, several new countries like UAE and Taiwan are becoming new players in the global medical tourism industry. Growing demand for specialized surgeries such as breast augmentation, dermabrasion, and rhinoplasty and better pricing of such cosmetic surgeries in these countries will further fuel the growth of medical tourism market during the forecast period.

Research Methodology

This section of the report presents detailed research methodology for calculating market size and forecasts, secondary data sources used and the primary inputs which were taken for data validation. This section also outlines various segments which has been covered as part of the report.

Market Dynamics

Comprehensive market dynamics has been analysed through key market driving factors, challenges to growth and the opportunities which exist for vendors in the current scenario. This section of the report also provides supplier and industry outlook as a whole; key industry, global and regional regulations which are determining the market growth. Complete industry analysis has also been covered by Porter’s five forces model as a part of this report section.


Global Medical Tourism market has been segmented by treatment type and geography as follows:

By Treatment Type
  • Cardiovascular
  • Cancer
  • Orthopaedic
  • Fertility
  • Neurological
  • Others
By Geography
  • Americas
  • U.S.
  • Canada
  • Mexico
  • Brazil
  • Others
  • Europe Middle East and Africa
  • United Kingdom
  • Poland
  • Turkey
  • UAE
  • Others
  • Asia Pacific
  • Thailand
  • China
  • India
  • Singapore
  • South Korea
  • Others
Market Players

Competitive intelligence section deals with major players in the market, their market shares, growth strategies, products, financials, and recent investments among others. Key industry players profiled as part of this section are Fortis Healthcare Limited, Bumrungrad International Hospital, Cosmedic Travel, KPJ Healthcare Berhad, George Medical Getaway, ABT Global, Raffles Medical Group Ltd, BB Health Solutions, and Euromedical Tours among others.
Note: Product cover images may vary from those shown
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  • ABT - Global
  • BB Health Solutions
  • CosMedic Tour
  • Cosmedic Travel
  • Euromedical Tours
  • Fortis Healthcare Limited
  • MORE
1. Introduction
1.1. Market Definition
1.2. Scope of the study
1.3. Currency
1.4. Assumptions
1.5. Base, and forecast year timeline

2. Research Methodology
2.1. Research Design
2.2. Secondary Sources
2.3. Validation

3. Key findings of the study

4. Market Dynamics
4.1. Drivers
4.2. Restraints
4.3. Opportunities and Market Trends
4.4. Market Segmentation
4.5. Porter’s Five Forces Analysis
4.5.1. Bargaining Power of Suppliers
4.5.2. Bargaining Power of Buyers
4.5.3. Threat of New Entrants
4.5.4. Threat of Substitutes
4.5.5. Competitive Rivalry in the Industry
4.6. Industry Value Chain Analysis
4.7. Industry Regulations
4.8. Scenario Analysis

5. Global Medical Tourism Market Forecast by Treatment Type (US$ Billion)
5.1. Introduction
5.2. Cardiovascular
5.3. Cancer
5.4. Orthopedic
5.5. Fertility
5.6. Neurological
5.7. Others

6. Global Medical Tourism Market Forecast by Geography (US$ Billion)
6.1. Introduction
6.2. Americas
6.2.1. U.S.
6.2.2. Canada
6.2.3. Mexico
6.2.4. Brazil
6.2.5. Others
6.3. Europe Middle East and Africa
6.3.1. United Kingdom
6.3.2. Poland
6.3.3. Turkey
6.3.4. UAE
6.3.5. Others
6.4. Asia Pacific
6.4.1. Thailand
6.4.2. China
6.4.3. India
6.4.4. Singapore
6.4.5. South Korea
6.4.6. Others

7. Competitive Intelligence
7.1. Investment Analysis
7.2. Strategies of Key Players
7.3. Recent Investment and Deals

8. Company Profiles
8.1. Fortis Healthcare Limited
8.1.1. Overview
8.1.2. Financials
8.1.3. Product and Services
8.1.4. Key Developments
8.2. Bumrungrad International Hospital
8.2.1. Overview
8.2.2. Financials
8.2.3. Products and Services
8.2.4. Key Developments
8.3. KPJ Healthcare Berhad
8.3.1. Overview
8.3.2. Financials
8.3.3. Products and Services
8.3.4. Key Developments
8.4. Cosmedic Travel
8.4.1. Overview
8.4.2. Financials
8.4.3. Products and Services
8.4.4. Key Developments
8.5. George Medical Getaway
8.5.1. Overview
8.5.2. Financials
8.5.3. Products and Services
8.5.4. Key Developments
8.6. ABT - Global
8.6.1. Overview
8.6.2. Financials
8.6.3. Products and Services
8.6.4. Key Developments
8.7. Raffles Medical Group Ltd
8.7.1. Overview
8.7.2. Financials
8.7.3. Products and Services
8.7.4. Key Developments
8.8. BB Health Solutions
8.8.1. Overview
8.8.2. Financials
8.8.3. Products and Services
8.8.4. Key Developments
8.9. Euromedical Tours
8.9.1. Overview
8.9.2. Financials
8.9.3. Products and Services
8.9.4. Key Developments
8.10. CosMedic Tour
8.10.1. Overview
8.10.2. Financials
8.10.3. Product and Services
8.10.4. Key Developments
8.11. TransEarth Medical
8.11.1. Overview
8.11.2. Financials
8.11.3. Products and Services
8.11.4. Key Developments
8.12. Medicanet
8.12.1. Overview
8.12.2. Financials
8.12.3. Products and Services
8.12.4. Key Developments
Note: Product cover images may vary from those shown
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  • Fortis Healthcare Limited
  • Bumrungrad International Hospital
  • KPJ Healthcare Berhad
  • Cosmedic Travel
  • George Medical Getaway
  • ABT - Global
  • Raffles Medical Group Ltd
  • BB Health Solutions
  • Euromedical Tours
  • CosMedic Tour
  • TransEarth Medical
  • Medicanet
Note: Product cover images may vary from those shown
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The research study is based on the publisher's proprietary research model. The process involves sourcing of information from various industry experts, key professionals, decision-makers and various other stakeholders along with the validation of the responses received from the vast in-house database and premium paid databases. Publicly available sources were also taken into consideration for the final market estimates and forecast for the segments and sub-segments.

The first phase of the research process is the identification of key industry leaders, experts, decision-makers and C-level executives and then conducting interviews and surveys to gain vital insights about the market. Simultaneously, extensive secondary research is done, and key secondary data is collected as part of this process. This secondary data is collected from various databases, industry journals, whitepapers, company annual reports, research publications, and other paid data sources and relevant literature. Company profiles which include strategies, new product developments, recent investments, major products and services, financials and business plans are sourced from the annual reports, SEC filings, industry associations to preserve the quality of the information being displayed. The findings from both the primary and the secondary research process combined go under further processing for market breakdown and forecasting.

The last phase is providing intelligence in the form of presentation, charts, graphics and other different formats helping the clients in a faster and efficient understanding of the market. Under this phase complete market engineering is involved which includes analyzing the collected data from different sources and existing proprietary datasets while using various data triangulation methods for market breakdown and forecasting. The publisher has developed their market forecasting methodology that, in addition to the main market values, also takes into account other macroeconomic factors (global or local) that might have some bearing on the market under study. Taking all the necessary data, a robust forecast is developed using an algorithm that involves both static (multivariate) as well as dynamic (time-series) regression analysis. Special care is taken to make sure their algorithm passes the necessary statistical tests, and the mean prediction for future years obtained is reliable with a very high confidence level. Following data validation, the analysts begin to write the report presenting insights with the help of charts, graphs, and tables.