Medical Tourism Market Size, Revenue Insights, and Long-Term Forecast 2032
- sachi toshniwal
- 1 day ago
- 4 min read
The medical tourism market refers to the growing trend of people traveling abroad to access medical and surgical care—typically motivated by lower costs, shorter wait times, or specialized services not readily available in their home countries. Popular treatments include elective surgeries, dental care, fertility procedures, and cosmetic enhancements. Countries like India, Turkey, Thailand, and South Korea have emerged as leading destinations due to their combination of high-quality care, advanced infrastructure, and affordability—and are often supported by government initiatives and tourism packages that streamline access and enhance convenience. This market is expanding rapidly as patients pursue cost-effective, high-quality care while also combining their treatment with travel and tourism. However, it comes with important risks: variation in medical standards, language and cultural barriers, legal and regulatory inconsistencies, and challenges with post-procedure care and follow-up. Institutions that prioritize accreditation, transparent information, patient support services, and continuity of care are better positioned to earn patient trust.
According to Fortune Business Insights, the global medical tourism market was valued at USD 31.23 billion in 2024 and is projected to grow from USD 38.20 billion in 2025 to USD 162.80 billion by 2032, exhibiting a compound annual growth rate (CAGR) of 23.0% during the forecast period. In 2024, Europe dominated the market with a 36.41% share.
Top Companies in 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 collaborated with Malaysia International Healthcare to organize the event The Malaysia International Healthcare Megatrends 2024, held at the Kuala Lumpur Convention Centre, showcasing the latest in medical technology and
healthcare solutions.
Market Drivers & Restraints
The market growth is fueled by multiple factors:
Affordable treatment costs in developing nations make high-quality healthcare accessible to cost-conscious international patients.
Increasing prevalence of chronic conditions such as cancer, cardiovascular disorders, and dental issues drives demand for specialized care abroad.
Rising healthcare costs in developed nations alongside long waiting times motivate patients to seek alternatives abroad.
Restraints, while not detailed explicitly in the cited report, may include logistical challenges, regulatory barriers, and concerns over post-treatment care continuity—common in medical tourism contexts.
Market Report Coverage
Fortune Business Insights’ report titled Medical Tourism Market Size, Share & Industry Analysis, By Healthcare Services (Medical Treatment, Wellness Treatment, Alternative Treatment), By Service Provider (Public and Private), and Regional Forecast, 2025-2032 covers market sizing, segmentation, service scope, provider types, and regional outlooks.
Competitive Landscape
Prominent players such as Apollo Hospitals Group and Bumrungrad International Hospital feature prominently, thanks to their wide service offerings and strong reputations in medical tourism. The landscape is characterized by healthcare institutions competing on quality, affordability, and international accreditation to attract global patients.
Market Segments
The report segments the market by:
Healthcare Services:
Medical Treatment (cardiac, oncology, orthopedic & spine, dental, others)
Wellness Treatment (cosmetic, rejuvenation, others)
Alternative Treatment
Service Provider: Public vs. Private healthcare facilities
These segment frameworks help identify which services and provider types are driving patient flows and revenue generation.
Market Regional Insights
In 2024, Europe dominated the global medical tourism market with a 36.41 % share, reflecting the strength of renowned facilities, skilled professionals, and a growing number of private clinics serving international patients.
Forecasts suggest dynamic growth across regions in the period up to 2032, driven by emerging hubs in Asia, Latin America, and the Middle East—though the cited report emphasizes Europe’s leadership in 2024.
Explore the full research report with detailed insights and TOC: https://www.fortunebusinessinsights.com/industry-reports/medical-tourism-market-100681
Future Market Scope
The expected market value of USD 162.80 billion by 2032 underscores massive opportunity potential across healthcare services and geographies.
This growth trajectory points to:
Expansion of service offerings such as specialized surgeries, wellness retreats, and alternative therapies
Investment in infrastructure, accreditation, and patient-centrism by hospitals and clinics
Emergence of new regional players outside Europe, leveraging cost-effectiveness and standard of care to draw patients
Increased collaboration and events — exemplified by KPJ Healthcare’s Megatrends event — to showcase innovations and build trust among global consumers
Conclusion
The global medical tourism market is at an inflection point. From a valuation of USD 31.23 billion in 2024, it is poised to surge more than five-fold to USD 162.80 billion by 2032, driven by affordability, prevalence of chronic conditions, and underserved demand from developed markets.
Industry leaders — including Bumrungrad International Hospital, Apollo Hospitals Group, Bangkok Chain Hospital, Fortis Healthcare, Asian Heart Institute, KPJ Healthcare, Gleneagles Hospitals, and Livonta Global — are well-positioned to capture this growth, especially as they invest in credibility, innovation, and patient experience.
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