The global medical tourism market was valued at USD 24.14 billion in 2023 and is expected to reach USD 29.26 billion in 2024, with a projected growth to USD 137.71 billion by 2032 at a CAGR of 21.4% during the forecast period (2024-2032). North America led the global medical tourism market in 2023, accounting for 25.81% of the total market share.
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In its latest study, Fortune Business Insights offers an in-depth analysis of the global Medical Tourism Market for the forecast period of 2024–2032. The report highlights key drivers, challenges, opportunities, and market trends. Additionally, the report provides market share insights expressed in both value and volume for the various segments.
In February 2024, the Ministry of Tourism announced the launch of a unified platform for health tourism, integrating both healing and medical services. The initiative aims to position Egypt as a global healthcare tourism destination. By collaborating with international experts, the ministry seeks to outline a comprehensive strategy to attract investments and promote medical tourism.
The medical tourism market is experiencing rapid growth due to factors such as the rising cost of healthcare in developed nations, increasing demand for high-quality medical treatments at lower costs, and advancements in healthcare infrastructure in emerging markets. However, challenges such as regulatory hurdles, language barriers, and varying quality standards across countries may hinder market growth.