Medical tourism market to reach USD 273.7B by 2032

Medical tourism involves the act of traveling primarily to obtain medical treatment. Those participating in medical tourism may journey for a wide range of procedures, including innovative or experimental treatments, and they may opt to visit either developing or developed countries to receive these services. In addition to the usual travel health advice, medical tourists have distinct health needs that call for specialized guidance. These include ensuring the stability of their pre-existing medical conditions for travel and the vital importance of arranging for suitable post-procedure care.

Allied Market Research published a report, titled, “Medical tourism market, by product (Dental treatment, cosmetic treatment, cardiovascular treatment, orthopedic treatment, neurological treatment, cancer treatment, fertility treatment, and other treatments): Global opportunity analysis and industry forecast, 2023-2032.” According to the report, the global medical tourism market was valued at USD 97.3 billion in 2022 and is projected to reach USD 273.7 billion by 2032, registering a CAGR of 10.1% from 2023 to 2032.

The report provides a detailed analysis of the top investment pockets, top winning strategies, drivers & opportunities, market size & estimations, competitive landscape, and evolving market trends. The market study is a helpful source of information for the frontrunners, new entrants, investors, and shareholders in crafting strategies for the future and heightening their position in the market.

Prime determinants of growth
Lower cost of medical treatment in developing countries, availability of advanced medical technologies is a hallmark of high-quality treatment and increasing awareness about medical tourism are expected to drive the growth of the medical tourism market. However, limited coverage and lengthy partial reimbursement by payers are hampering the medical tourism market growth. On the contrary, growing opportunities in emerging markets are expected to offer remunerative opportunity for expansion of the medical tourism market during the forecast period. Allied Market Research