The Medical Tourism Market was valued at USD 24.14 billion in 2023 and is projected to reach USD 29.26 billion in 2024 and USD 137.71 billion by 2032, exhibiting a CAGR of 21.4% during the forecast period (2024-2032).
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The market's rapid growth is driven by factors such as rising healthcare costs in developed countries, increasing demand for high-quality yet affordable treatments, advancements in medical technology, and supportive government policies in key medical tourism destinations. Popular destinations are known for specialized treatments in areas such as cardiology, orthopedics, dentistry, cosmetic surgery, and fertility treatments. With expanding healthcare infrastructure and improved international patient services, the market is set for substantial growth in the coming years.
February 2024: The Ministry of Tourism announced the launch of a unified platform for health tourism, incorporating both healing and medical services. In collaboration with international experts, Egypt aims to establish itself as a leading healthcare tourism destination by developing a strategic framework to attract investments in this sector.
January 2024: Sunway Healthcare Group partnered with PT JCB International Indonesia, a subsidiary of JCB International Co., Ltd., to promote medical tourism in Malaysia. This initiative aims to introduce Sunway Healthcare Group’s services to JCB’s 156 million card members globally.