The medical tourism market involves people traveling to other countries to receive medical care, often at lower costs or with shorter wait times than in their home countries. Common treatments sought include cosmetic surgery, dental work, fertility treatments, and major procedures like heart or orthopedic surgeries. This market has grown rapidly due to rising healthcare costs in developed nations, improved quality of care abroad, and the availability of internationally accredited hospitals. Countries like India, Thailand, Turkey, and Mexico are popular medical tourism destinations due to their affordable services and skilled medical professionals. While the market offers many benefits, it also comes with challenges such as language barriers, follow-up care issues, and legal or regulatory differences across borders.

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 led the market, accounting for a 36.41% share.

Leading Players in Medical Tourism

• 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 joined forces with Malaysia International Healthcare to host the “Malaysia International Healthcare Megatrends 2024” event at the Kuala Lumpur Convention Centre, showcasing cutting-edge medical technologies and solutions.

Market Drivers & Restraints

🚀 Market Drivers

• Improved Healthcare Infrastructure in Emerging Nations: Countries such as India, Thailand, and Malaysia have invested heavily in clinical infrastructure to serve both domestic and international patients, enhancing bed capacity and service quality, which is driving medical tourism growth .
• Significant Cost Savings: Many developed nations face rising healthcare costs, making international travel for procedures like cardiac, dental, or orthopedic treatments an appealing and cost-effective option for patients .
• Wellness Segment Expansion: Increasing demand for cosmetic and rejuvenation services is expanding the boundaries of traditional medical tourism into wellness tourism .
• Post–COVID Patient Ripple Effect: After the pandemic's disruption to elective procedures, the backlog has fast-tracked demand and international patient travel since 2021 .