Medical Tourism Market Insights 2032: Cost & Quality Balance Influences Destination Choice
- sachi toshniwal
- Jul 22
- 4 min read
The global medical tourism market is witnessing significant growth as patients seek affordable, high-quality healthcare services across borders. Driven by rising treatment costs in developed countries, long wait times, and increased availability of advanced medical procedures abroad, the market continues to expand. Popular destinations such as India, Thailand, Malaysia, Mexico, and Turkey offer services ranging from elective surgeries and dental care to fertility treatments and cosmetic procedures. Factors such as improved international healthcare accreditation, streamlined visa policies, and advancements in telemedicine are further propelling the demand for medical tourism worldwide.
According to Fortune Business Insights, the global medical tourism market size was valued at USD 31.23 billion in 2024. The market is projected to grow from USD 38.20 billion in 2025 to USD 162.80 billion by 2032, exhibiting a strong CAGR of 23.0% during the forecast period. Europe dominated the medical tourism market with a 36.41% share in 2024.
Top Companies Capturing the Market
Bumrungrad International Hospital (Thailand)
Apollo Hospitals Group (India)
Bangkok Chain Hospital Public Company Limited (Thailand)
Fortis Healthcare (India)
Asian Heart Institute (India)
KPJ Healthcare (Malaysia)
Gleneagles Hospitals (India)
Livonta Global (India)
Key Industry Development
In October 2024, KPJ Healthcare in Malaysia, in collaboration with Malaysia International Healthcare, hosted the “Malaysia International Healthcare Megatrends 2024” event at the Kuala Lumpur Convention Centre. The forum showcased the latest advancements in medical technologies and healthcare solutions.
Market Dynamics
Market Drivers
Rising Healthcare Spending & Infrastructure in Emerging Nations – Countries like India, Thailand, and Malaysia are significantly increasing healthcare investments. Lower treatment costs combined with improved care quality continue to attract international patients.
Cost Savings – High costs of procedures in developed nations (U.S., U.K., Germany) drive patients to seek affordable yet advanced treatments abroad.
Prevalence of Chronic Diseases – Rising incidences of cancer, cardiovascular diseases, dental issues, and orthopedic conditions are pushing more patients toward cost-effective treatment destinations.
Market Restraints
Ethical and Regulatory Concerns – Issues such as opaque pricing, credential verification, and language barriers can reduce patient trust and satisfaction.
Follow-up and Post-operative Care Challenges – Continuity of care post-procedure is a concern, especially when complications arise and follow-up care becomes inaccessible or unreimbursed.
Infection & Complication Risks – Medical tourists face higher infection risks and procedural complications, which can hinder future growth.
Emerging Opportunities
Surge in Inbound Medical Tourism – Countries like India, Brazil, Thailand, and Malaysia are witnessing increased numbers of medical tourists thanks to rising awareness about affordable and quality care.
India recorded approximately 610,000 inbound medical tourists in 2023—a 28.1% YoY increase, highlighting the potential for expansion.
Market Trends
Wellness-Tourism Shift – Increasing demand for wellness treatments like cosmetic and rejuvenation procedures is redefining medical tourism.
Integrated Travel & Healthcare Services – Travel companies are merging healthcare and vacation packages; for example, EaseMyTrip’s acquisition of Pflege Home Healthcare and Rollins International in 2024 enhances its medical tourism portfolio.
Telemedicine Adoption – Post-operative and pre-travel care via telehealth platforms are becoming crucial elements in patient management.
Service Segment Insights
The market is segmented by healthcare services into medical treatment, wellness treatment, and alternative treatment.
Medical Treatment
In 2024, the medical treatment segment—encompassing cardiac, oncology, orthopedic, spinal, and dental procedures—held the dominant share. High costs in developed countries are pushing more patients to emerging markets offering quality treatments at lower prices. Malaysia received 850,000 healthcare travelers in 2022, up 51.5% from the previous year.
Wellness Treatment
This segment, which focuses on cosmetic and rejuvenation procedures, is rapidly growing. For instance, South Korea received 114,074 international wellness visitors in 2023—up from 90,494 in 2019 (26% growth).
Alternative Treatment
Alternative therapies, such as homeopathy and medical spas, are gaining awareness steadily, contributing to market expansion.
Regional Analysis
Europe (36.41% market share in 2024)
Valued at USD 11.37 billion, Europe dominated due to its high-quality healthcare, accredited institutions, and attracting tourists from France, Spain, and Turkey.
North America
North America is anticipated to grow significantly, with leading healthcare infrastructure, advanced technologies, and private hospital dominance fueling demand from international patients.
Asia-Pacific
The fastest-growing region, thanks to government-supported initiatives in countries like Malaysia, Thailand, and South Korea, aiming to lure medical tourists with high standards at competitive costs.
Explore the full research report with detailed insights and TOC:https://www.fortunebusinessinsights.com/industry-reports/medical-tourism-market-100681
Competitive Landscape
Major providers like Bumrungrad International Hospital, Apollo Hospitals Group, and Bangkok Chain Hospital are expanding their portfolios to include a full range of medical, wellness, and alternative services. Their commitment to international standards and accreditation helps reinforce brand trust. Private providers, in particular, lead in investment and patient outreach.
Future Outlook
The medical tourism market is poised for exponential growth, supported by rising healthcare costs, advanced service options, and expanding digital connectivity. Wellness tourism and integrated travel-health packages, combined with telehealth for continuity of care, are set to redefine the sector. With forecasted growth to USD 162.8 billion by 2032, the market presents immense opportunities for providers, travel platforms, and regulatory bodies to innovate strategically.
Conclusion
The medical tourism market is at a pivotal moment—driven by cost-effective care, advanced procedures, and demand for wellness and preventive treatments. Providers who invest in cross-border continuity and accreditation will remain competitive. As the market approaches USD 162.80 billion by 2032, stakeholders have a critical window to shape a more accessible, integrated, and patient‑centric global healthcare ecosystem.
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