The medical tourism market involves patients traveling across international borders to receive medical care, often due to cost savings, shorter waiting times, or access to specialized treatments not available locally. Common procedures include cosmetic surgery, dental work, orthopedic surgeries, fertility treatments, and cardiac care. The market has grown significantly due to rising healthcare costs in developed countries, increasing healthcare infrastructure in emerging economies, and greater availability of high-quality, accredited medical facilities abroad. Popular medical tourism destinations include India, Thailand, Mexico, Turkey, and South Korea, known for offering quality care at competitive prices.
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.
A key driver fueling market expansion is the significant cost savings available in emerging countries such as India, Thailand, and Malaysia, which offer high-quality care at a fraction of the cost in developed markets. Furthermore, rising healthcare expenditures in these emerging nations have led to improved infrastructure, more advanced facilities, and greater bed capacity to attract international patients.
Despite its growth, the market faces certain restraints. Challenges such as lack of transparency in service offerings, treatment pricing, healthcare professional qualifications, and language barriers could negatively impact patient satisfaction and outcomes, thus limiting market growth potential.
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