Global Medical Tourism Market Size, Forecast, and Trend Highlights Over 2025-2037
Medical Tourism Market size was valued at USD 12.49 billion in 2024 and is projected to reach USD 53.87 billion by the end of 2037, registering around 11.9% CAGR during the forecast period i.e., between 2025-2037. In 2025, the industry size of medical tourism is assessed at USD 13.53 billion.
The market is growing with the rising prevalence of life-threatening chronic illnesses, which is pushing people from around the globe to travel to other countries to get the best treatment. As per GLOBOCON statistics, the number of new cancer cases worldwide reached 20.0 million in 2022, and 9.7 million deaths were registered due to this ailment. Alongside, the projections from the American Cancer Society concluded that the count of new malignancy cases to surpass 35.0 million by 2050. Simultaneously, the rapidly aging population is fueling such magnification in patient pools. On this note, the WHO reported that the number of people aged 60 and over across the world is expected to rise to 2.1 billion by 2050. The demography indicates the heightening tendency of seeking better clinical facilities than local ones.
In 2021, over 14.0 million individuals traveled across borders for healthcare purposes, increasing the size of the global medical value travel industry up to USD 80.0 billion (Services Export Promotion Council of India). Such an increase in revenue generation from the market is highly attributable to the variability in payers’ pricing in different regions. However, a 2021 NLM study evaluated the out-of-pocket cost burden on cancer patients and their caregivers, which accounted for 42.0% and 16.0% of their annual income in low- and middle-income and high-income countries, respectively. This showcases economic disparity in underserved regions. Currently, governments are implementing various subsidiary and reimbursement policies to mitigate this inequality.
Comparative Presentation of Spending on Cancer by Adult Patients and Caregivers (2021)
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Analysis Area |
Range of Expense per Month per Patient (in USD) |
|
U.S. |
180.0-2600.0 |
|
Canada |
15.0-400.0 |
|
Western Europe |
4.0-609.0 |
|
Australia |
58.0-438.0 |
Source: NLM
Medical Tourism Sector: Growth Drivers and Challenges
Growth Drivers
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Significant growth in the MedTech industry: Building a strong reputation for offering world-class healthcare services requires continuous advancements, which propels the medical tourism market. As per the Advanced Medical Technology Association, the MedTech industry generated a revenue of USD 573.0 billion in 2022. This signifies the contribution of telemedicine, digitalization, and AI in establishing a good business flow in this sector. For instance, in August 2024, HealthStay introduced an AI-driven medical tourism platform in the UAE to offer a seamless experience to international patients. This tool is specifically designed to fully automate the processes in medical travel, such as selecting treatments, booking travel, and managing recovery.
- Improvement in international connectivity: Besides government subsidies and enhanced insurance policies, the growing trend of simplifying the process of visas and foreign investments is fueling growth in the market. The escalated development in transportation, such as airlines, is making overseas travel more appealing for patients. For instance, in March 2025, China Eastern Airlines shared its plans to initiate its operation in Chattogram, Bangladesh. It is determined to allocate Chittagong-Kunming flights for residents in Bangladesh seeking access to healthcare in southern China. Such commercial events boost clinical tourist visits across the globe, increasing the sector’s reach.
Challenges
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Requirement for higher initial investment: Despite the increasing foreign investments, the expansion of the market in low- and middle-income countries may heighten the cost of primary care for domestic citizens. In addition, the availability and accessibility to advanced treatment may also decrease. Consequently, it hinders the overall revenue generation of the regional healthcare industry, which has the potential to impact the quality of care and services. Furthermore, travelling abroad is becoming more expensive, recreating the affordability issues in access to world-class medical facilities.
Medical Tourism Market: Key Insights
| Report Attribute | Details |
|---|---|
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Base Year |
2024 |
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Forecast Year |
2025-2037 |
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CAGR |
11.9% |
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Base Year Market Size (2024) |
USD 12.49 billion |
|
Forecast Year Market Size (2037) |
USD 53.87 billion |
|
Regional Scope |
|
Medical Tourism Segmentation
Treatment Type (Cosmetic, Dental, Fertility, Orthopedic, Neurological, Cancer, Others)
The cancer segment is projected to capture a noteworthy share of the medical tourism market over the assessed timeline. This segment’s leadership is augmented by the higher prevalence and economic burden of malignancies across the globe. Currently, a shifting preference toward alternative holistic therapies, including cannabis pharmaceuticals, is attracting patients from across the world in countries with ancient roots such as India, China, and Japan. On this note, a study was published by PLOS in September 2022, which revealed that a notable proportion, 31.5%, of cancer residents in Kenya, seeking treatment, preferred India as their first choice. A majority of these respondents had a monthly income higher than USD 250.0. Furthermore, advances in technology and precision medicine are driving progress in this segment.
Application (Public, Private)
Based on the application, the private segment is poised to contribute a significant proportion of revenue in the medical tourism market by 2037. This segment is fueled by the availability of cutting-edge facilities and a consumer-centric approach. According to a report from the FCCI, published in September 2021, the number of private hospitals in India was almost double that of the public settings, accounting for 43,486. This showcases this segment’s predominant emphasis on this sector over others. In addition, the frequent promotional activities and efficient management system in these organizations are making them preferred by the majority of tourists.
Our in-depth analysis of the global medical tourism market includes the following segments:
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Application |
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Customize this ReportMedical Tourism Industry - Regional Synopsis
North American Market Forecast
The North America medical tourism market is expected to hold the largest market share of 40.5% throughout the discussed timeframe. The region’s proprietorship is ascribed to the higher prevalence and outbound of tourism owing to the presence of robust healthcare infrastructure in the region and the growing need for cancer treatment. For instance, in 2025, the projected occurrence of new and death cases of malignancy in the U.S. was 2,041,910 and 618,120, respectively (NLM). Moreover, the presence of major key players in the region and shortage of healthcare professionals is further projected to hike the engagement and revenue generation in this field.
As per HRSA estimations, the shortage of full-time equivalent physicians in the U.S. is expected to be 139,940 by 2036. In addition, the financial burden of healthcare in this country is increasing year on year, pushing citizens to opt for the market. A 2022 World Bank report concluded that USD 1.4 billion in cost savings can be realized in the U.S. if 1 in every 10 patients with a requirement of a limited set of 15 highly tradable, low-risk treatments choose foreign settings. This scenario replicates the significance of this nation as a leading investor in this sector.
APAC Market Forecast
Asia Pacific is poised to garner a considerable pace of progress in the medical tourism market by the end of 2037. The region is laced with heavy foreign investments, technologically developed landscapes, and government initiatives. In addition, the rapidly aging population in Japan, China, and India is propelling the consumer base for both domestic and global pioneers in this sector. This is attracting new entrants to participate in this landscape. For instance, in September 2024, EaseMyTrip allocated a total investment of USD 10.5 million to acquire 49.0% and 30.0% shares in Pflege Home Healthcare and Rollins International, respectively. This acquisition was intended to support the company’s goal to conquer and revolutionize medical tourism for both local and international travellers.
India is emerging as the topmost preferred and affordable destination for investors in the market. To escalate its global presence, the Government of India extended the e-medical visa/e-medical Attendant visa facility in 2024 for medical tourists from 167 countries. Additionally, in December 2024, the national governing body made treatment under the Ayush system of medicine available for foreigners by issuing an Ayush Visa. Such initiatives are promoting greater engagement and investment in this sector. On this note, IBEF estimated market in India to reach USD 14.3 billion by 2029 from USD 7.6 billion in 2024.
Companies Dominating the Medical Tourism Landscape
- Samitivej PCL
- Company Overview
- Business Strategy
- Key Product Offerings
- Financial Performance
- Key Performance Indicators
- Risk Analysis
- Recent Development
- Regional Presence
- SWOT Analysis
- Apollo Hospitals Enterprise Ltd.
- Prince Court Medical Centre
- Fortis Healthcare Limited
- Barbados Fertility Center
- Asian Heart Institute
- Aditya Birla Health Services Ltd.
- KPJ Healthcare Berhad
- NTT Medical Center Tokyo
- Livonta Global Pvt. Ltd.
- Mastercard Inc.
- Mitsubishi Corporation
- Resorttrust, Inc.
This merchandise is opening new business opportunities for key players from various fields, such as transportation, insurance, healthcare services, and the MedTech industry. This is attracting more companies to participate and invest in this field. For instance, in October 2024, OneBefore partnered with Pulse Insurance to debut in this category by launching Pulse Globetrotter: Medical Travel Insurance. Furthermore, tech-based pioneers are leveraging their capabilities to cope with the increasing demand. On this note, in January 2025, HealthStay raised a seed funding of USD 500 thousand from Sean Conaty and Ruairí Tubrid to upscale the capabilities of its AI-powered medical tourism platform. Such key players are:
In the News
- In November 2024, Resorttrust commenced a joint study of opportunities in the medical tourism market in collaboration with Mitsubishi Corporation. The partnership was intended to promote the advanced medical screening technologies and healthcare services in Japan to cultivate a wider consumer base for this country in this field.
- In July 2024, Mastercard partnered with the Medical Tourism Association to modernize the end-to-end healthcare experience for patients and providers around the world. As per the agreement, the team utilized Mastercard’s commercial virtual card technology to revolutionize cross-border health care payments.
Author Credits: Radhika Pawar
- Report ID: 4508
- Published Date: May 02, 2025
- Report Format: PDF, PPT
