The global medical tourism market was valued at USD 24.14 billion in 2023. It is expected to reach USD 29.26 billion in 2024 and is projected to surge to USD 137.71 billion by 2032, reflecting a robust CAGR of 21.4% during the forecast period (2024-2032).
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Top Companies in the Market
- Bumrungrad International Hospital (Thailand)
- Apollo Hospitals (India)
- Bangkok Chain Hospital (Thailand)
- Fortis Healthcare (India)
- Asian Heart Institute (India)
- KPJ Healthcare Berhad (Malaysia)
- Livonta Global (India)
- Gleneagles Hospital (India)
➡️What are the major drivers fueling the growth of the medical tourism market?
Market Drivers
- Cost-Effective Treatment: Medical procedures in leading medical tourism destinations are significantly cheaper compared to Western countries.
- High-Quality Healthcare Services: Accredited hospitals with internationally trained doctors are a major attraction.
- Shorter Wait Times: Many patients choose medical tourism to avoid long waitlists for treatment in their home countries.
- Advancements in Medical Technology: Cutting-edge treatments and innovative procedures are key drivers.
Market Restraints