Outbound Medical Tourism Market Size, Trends, Share, Growth, and Opportunity Forecast, 2023 - 2030 Global Industry Analysis By Treatment Type (Cosmetic Treatment, Dental Treatments, Orthopedic Treatment, Cancer Treatment, Fertility Treatment, and Others), By Service (Wellness, and Therapeutics), By End-user (Men, Women, Children), By Age Group (Adults, Senior, Pediatric, and Geriatric), By Service Provider (Public, and Private) and By Geography (North America, Europe, Asia Pacific, South America, and Middle East & Africa)

The Global Outbound Medical Tourism Market was valued at USD 198.9 Billion in 2022 and is anticipated to reach a value of USD 461.6 Billion by 2030 expanding at a CAGR of 11.3% between 2023 and 2030.

An outbound medical tourism is described as patients travel from home country to other countries to receive medical care treatment. It is a service that combining travel and healthcare for individuals seeking medical treatment abroad. Outbound means that patients from one country to another country to receive medical treatment. It allowing many patients to obtain the highest quality and most affordable health care treatments. Medical tourism is popular among global patients, due to low cost of medical treatments in developing countries which may be very expensive in developed countries. The major reason which makes patients cross borders is to get the best treatment and care for their illness from the top healthcare experts. This burgeoning market include a diverse range of healthcare services, such as elective surgeries, wellness treatments, and specialized medical interventions. The market is influenced by the factors such as cost savings, high-quality healthcare facilities, access to advanced healthcare services, and long waiting time.

Outbound Medical Tourism Market Major Driving Forces

Cost Savings: The significant factor behind outbound medical tourism is the potential for substantial cost savings. The rise in healthcare costs particularly in developed nations has become a burden for healthcare providers and patients. People choose to travel abroad for treatments and procedures in destinations where costs are lower.

High-quality Healthcare Facilities: The rapid expansion of high-quality healthcare facilities across the globe has significantly contributed to the outbound medical tourism market growth. Many developed and emerging nations offers high-quality medical treatments at lower price. Many countries have invested in medical infrastructure and advanced technologies to cater international patients.

Access to Advanced Healthcare Services: The availability of advanced healthcare services in popular medical tourism destinations is another key driver of medical tourism market. People opt for outbound medical tourism to access specialized treatments and procedures that may not be available or affordable in their home countries.

Long Waiting Time: The long waiting time for appointments with specialists for consultation or treatment is a major concern among patients and is considered a major driver of outbound medical tourism. Some countries offering medical tourism services often have shorter waiting time for surgeries and medical treatment.  

Outbound Medical Tourism Market Key Opportunities

Collaboration with International Insurers: Opportunities exist for international collaboration to standardize regulations.  Collaborating with international insurers to offer comprehensive medical tourism packages with accommodation, and post-treatment care is anticipated to  have significant impact on patients.

Technological Advancements: Technological advancements have revolutionized healthcare industry. Telemedicine and remote consultations services have become prevalent. Patients can get virtual consultation and remote monitoring with medical professionals. By incorporating advanced technologies, such as telemedicine, and e-health improving accessibility to care and treatments in foreign countries.

Government Initiatives: Governments across most countries are focusing on medical tourism industry by implementing favorable regulations and encouraging investments in strengthening healthcare facilities. Thus, increasing government initiatives and support to promote medical tourism is expected to provide key opportunities for the growth of the outbound medical tourism providers. 

Outbound Medical Tourism Market Key Trends

·         High quality treatment can be availed at a lower cost in developing countries than in developed countries

·         Growing consumer preference toward cosmetic procedures such as body fat reduction and acne treatment, due to increasing awareness among individuals about personal care

·         Globalization has been a major market driving trend in medical tourism that allow consumers to obtain the highest quality and affordable health care treatments

·         High waiting time has led to increase in the number of patients opting for treatment outside home countries

·         Telemedicine is playing a vital role in pre and post-treatment consultations that expanding reach and convenience for patients

·         Increasing healthcare expenses in many countries have led patients to explore affordable treatment options abroad

·         Increased collaboration between healthcare providers and the travel industry is an emerging trend that boosting market growth

Region-wise Market Insights

Asia Pacific accounted for the largest market share at 35.8% in 2022 whereas, Asia Pacific is expected to register the fastest growth, expanding at a CAGR of 12.0% between 2023 and 2030.

Asia Pacific dominated the global outbound medical tourism market, due to the presence of technologically advanced medical specialties, enhanced healthcare infrastructure, and availability of cost-effective treatment options in region. In addition, governments in the region have implemented several policies and support to attract medical tourists. Moreover, Thailand and India are recognized internationally for high-quality medical services, and Thailand is home to private hospitals. In North America, the demand is driven by the well-developed healthcare infrastructure, growing number of tourists for treatment of orthopedic and cardiovascular disorders, and favorable reimbursement policies. In Europe, market growth is attributed to the growing availability of medical infrastructure and facilities, and advanced healthcare systems.  The Middle East and Africa has been witnessing significant growth in countries such as Mexico and Brazil attracts medical tourists with a focus on cosmetic surgeries, dental procedures, and wellness retreats.

Market Competition Landscape

The global outbound medical tourism market is characterized by high degree of competition among majority of the medical service providers. Prominent players in the industry are looking to provide consumers with customized and personalized solutions for their travels. These major companies adopt several methods to enhance their market position including cutting-edge technologies, collaborations with other companies, and corporate investments. Key players in the outbound medical tourism market engage in strategies aimed at gaining a competitive edge. These strategies include product launches, design differentiation, and investment in research and development to meet evolving consumer preferences. Established brands leverage their reputation for quality and reliability to maintain market share, while newer entrants focus on disruptive innovations and unique selling propositions.

Key players in the global outbound medical tourism market implement various organic and inorganic strategies to strengthen and improve their market positioning. Prominent players in the market include:

·         Global Medical Tourism Inc.

·         WorldMed Assist.

·         KPJ Healthcare Berhad.

·         Christus Muguerza Hospital.

·         Mednamaste.

·         Bumrungrad International Hospital.

·         Apollo Hospital Enterprise Limited.

·         Asklepios Kliniken GmbH

·         Bangkok Dusit Medical Services

·         Fortis Healthcare Ltd

·         Prince Court Medical Center

·         Clemenceau Medical Center

·         Asian Heart Institute

·         Gleneagles Hospital