Global medical tourism market to reach USD 35.9B
The global medical tourism market is projected to grow significantly, with its size expected to reach approximately USD 35.9 billion by 2032 from USD 11.7 billion in 2022, growing at a CAGR of 12.2% during the forecast period. This growth is driven by several factors, including the rising cost of healthcare in developed countries, the availability of high-quality medical treatments at lower costs in developing regions, and the increasing number of internationally accredited hospitals. Countries in the Asia-Pacific region, such as India, Thailand, and Malaysia, are popular destinations due to their advanced medical facilities and affordable treatment options. For instance, cardiac surgeries in India cost significantly less than in the United States.
However, the market faces challenges such as the difficulty in ensuring continuous patient follow-up and managing post-surgery complications due to the distance between patients’ home countries and treatment destinations. Additionally, marketing challenges and lack of brand awareness among healthcare providers hinder the growth potential in some regions.
Recent developments in the industry include partnerships and collaborations aimed at promoting medical tourism and improving patient experiences. For example, the Greek Health Tourism Council’s agreement with Athens International Airport and Sunway Healthcare Group’s collaboration with PT JCB International Indonesia are notable efforts to enhance the medical tourism infrastructure and attract more international patients. Market.US
