Medical Tourism Market Recovery Post-Pandemic: Trends and Projections

The medical tourism market was valued at approximately USD 31.09 billion in 2024 and is anticipated to grow to USD 87.33 billion by 2030, representing a compound annual growth rate (CAGR) of 18.47% from 2025 to 2030. Key drivers of this market include cost savings and added benefits for visitors, such as advanced technologies, improved healthcare, sophisticated medical equipment, breakthrough treatments, high-quality hospitality, and personalized care.

Throughout the forecast period, the market is expected to expand rapidly. The exorbitant cost of healthcare services in patients' home countries significantly drives market growth. Additionally, the rising demand for procedures not covered by insurance, including gender reassignment surgeries, reproductive therapies, dental reconstructions, and cosmetic surgeries, is fueling this growth.

Countries like Thailand and Malaysia offer high-quality medical treatment at lower prices compared to developed nations. Despite the reduced costs, the quality of care remains excellent due to available resources at more affordable prices. This results in a steady influx of patients seeking healthcare services in these regions. For example, an angioplasty procedure can cost between USD 55,000 and USD 57,000 in the U.S., whereas the same procedure in Malaysia ranges from USD 2,500 to USD 3,500. Patients from the U.S. and Europe travel to Singapore, Malaysia, India, and Thailand to save between 55% and 70% on medical expenses.

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Key Market Trends & Insights

• Thailand led the market in 2024, holding a 24.40% share. It is a prominent medical tourism destination, attracting millions of medical tourists each year due to low costs and high-quality medical services. The substantially lower treatment costs compared to developed economies contribute significantly to the increasing number of inbound medical tourists.
• In terms of treatment type, the cosmetic segment represented the largest revenue share at 24.13% in 2024. Factors such as heightened patient awareness, a growing demand for anti-aging treatments, and the high costs of cosmetic implants in developed countries are driving this segment's expansion.
• Regarding service providers, the private segment accounted for the largest revenue share at 54.47% in 2024 and is projected to exhibit the fastest growth rate during the forecast period. The swift rise in healthcare costs, along with a significant number of uninsured or underinsured individuals, encourages medical tourists to seek affordable healthcare options in developing countries.

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Market Size & Forecast

• 2024 Market Size: USD 31.09 Billion
• 2030 Projected Market Size: USD 87.33 billion
• CAGR (2025-2030): 18.47%

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Key Companies & Market Share Insights

These companies employ various strategies to strengthen their market position, such as developing innovative products and services using cutting-edge technology, forming collaborations, expanding their outlets, and making corporate investments.

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Key Players

• MOHW Hengchun Tourism Hospital
• Apollo Hospitals Enterprise Ltd.
• Bumrungrad International Hospital
• Mount Elizabeth Hospitals
• Raffles Medical Group
• Dr. B. L. Kapur Memorial Hospital
• Kasemrad Hospital International Rattanathibet
• Mission Hospital
• Bangkok Hospital
• Miot Hospital
• Penang Adventist Hospital

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Conclusion

The medical tourism market is poised for significant growth, driven by cost-effective healthcare solutions and the increasing demand for non-covered medical procedures. Countries offering high-quality yet affordable healthcare will likely continue attracting a global patient base, reshaping the landscape of international healthcare access.