APAC Medical Tourism Market Size
| Study Period | 2020 - 2029 |
| Market Size (2024) | USD 53.11 Billion |
| Market Size (2029) | USD 108.43 Billion |
| CAGR (2024 - 2029) | 15.34 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
APAC Medical Tourism Market Analysis
The Asia-Pacific Medical Tourism Market size is estimated at USD 53.11 billion in 2024, and is expected to reach USD 108.43 billion by 2029, growing at a CAGR of 15.34% during the forecast period (2024-2029).
The Covid-19 pandemic outbreak significantly impacted the Asia-Pacific Medical Tourism Market. Due to travel restrictions, lockdowns, and the risk of contracting the virus, many patients postponed or canceled their medical trips to other countries, significantly declining medical tourist numbers. The closure of borders and travel restrictions impacted the medical tourism industry in the Asia-Pacific region, as it heavily relied on international patients. Many healthcare facilities saw declining revenues and had to postpone or cancel their expansion plans. The pandemic also affected the demand for various medical procedures in the Asia-Pacific Medical Tourism Market. For instance, the demand for cosmetic procedures, which was growing rapidly in the region, decreased due to the widespread use of masks and a decreased emphasis on physical appearance.
The Asia-Pacific Medical Tourism Market is a rapidly growing sector that involves the travel of individuals to foreign countries to receive medical treatment. The market includes countries such as Thailand, India, Malaysia, Singapore, and South Korea, known for their high-quality healthcare services and relatively lower treatment costs. The region's medical tourism market is driven by several factors, including rising healthcare costs in developed countries, increasing awareness about the availability of medical treatments abroad, and advancements in medical technologies. Additionally, government initiatives to promote medical tourism, such as easing visa regulations and providing incentives to healthcare providers, further boosted the market's growth. In terms of medical procedures, cosmetic surgery, dental treatments, and fertility treatments are some of the most sought-after services in the Asia-Pacific medical tourism market. The region is also gaining popularity for medical procedures such as heart surgeries, orthopedic surgeries, and cancer treatments.
APAC Medical Tourism Market Trends
Increasing Demand for Affordable Healthcare (Oncology, Cardiovascular Diseases, and Cosmetic Surgery) is Driving the Market
With the rising healthcare costs in developed countries, medical tourism is becoming an attractive option for patients seeking affordable healthcare. Medical tourists from developed countries can save up to 90% on medical expenses by traveling to developing countries for treatment. One of the main drivers of the market's expansion is the flourishing medical industry around the world. Patients choose medical migration more frequently due to the high costs of treating chronic illnesses in many affluent countries. Additionally, patients worldwide are drawn to the advanced medical facilities offered at reasonable prices in several developing nations. To stimulate the market, healthcare facilities are offering people better healthcare, cutting-edge medications, modern equipment, and individualized treatment.
Rising awareness regarding medical tourism among patients and the growing ease and availability of advanced treatment options in the Asia-Pacific region is contributing to the growth of the Asia-Pacific medical tourism market. Emerging countries in the region emphasize developing advanced healthcare infrastructure while minimizing costs. For instance, Japan is considered the most preferred place for oncology treatments owing to its specialty in heavy particle radiotherapy & regenerative medicine, and robot-assisted surgeries. The most common medical treatments sought by medical tourists in Japan include cancer treatments, orthopedic procedures, cardiovascular surgery, and regenerative medicine
India Medical Tourism Market includes the Highest Revenue
Recently, India became a popular destination for medical tourism, with a growing number of international patients coming to the country for various medical treatments. Medical tourism refers to traveling to a foreign country for medical treatment, usually cheaper than in their home country. The country includes several advantages that make it an attractive destination for medical tourism. First and foremost, the country includes many highly qualified and skilled medical professionals trained in some of the best medical institutions in the world. Additionally, medical treatments in India are generally more affordable than in many developed countries without compromising the care quality.
India is well-known for its advanced medical technology and modern hospitals with the latest medical equipment and facilities. It, coupled with the country's rich cultural heritage and tourist attractions, makes it an appealing destination for medical tourists seeking high-quality medical care and a unique travel experience. Some of the most common medical treatments sought by medical tourists in India include heart surgery, orthopedics, fertility treatments, cosmetic surgery, and alternative medicine. Recently, India emerged as a leading destination for COVID-19 treatments and vaccines.
APAC Medical Tourism Industry Overview
The Asia-Pacific Medical Tourism Market is fragmented. Each country includes unique attractions and tourism offerings, resulting in diverse travel options for visitors. Thailand, Japan, and China are among the top destinations in the Asia-Pacific region for international tourists, accounting for a significant share of visitor arrivals.
APAC Medical Tourism Market Leaders
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Apollo Hospital Enterprise Limited
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Bumrungrad International Hospital
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Fortis Healthcare Limited
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KPJ Healthcare Berhad
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Aditya Birla Memorial Hospital
*Disclaimer: Major Players sorted in no particular order
APAC Medical Tourism Market News
- October 2022: Apollo Hospitals acquired a 60% stake in the Ayurveda hospital chain. Apollo Hospitals will use the primary investment to upgrade existing centers, set up new centers, strengthen enterprise platforms, and for digital health initiatives.
- May 2022: Fortis Healthcare planned to add around 1,500 new beds to its network to around 5,000 beds in the next three years.
APAC Medical Tourism Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Key Trends and Recent Developments in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Treatment Type
5.1.1 Dental Treatment
5.1.2 Cosmetic Treatment
5.1.3 Cardiovascular Treatment
5.1.4 Orthopedic Treatment
5.1.5 Neurological Treatment
5.1.6 Cancer Treatment
5.1.7 Fertility Treatment
5.1.8 Other Treatments
5.2 By Service Provider
5.2.1 Public
5.2.2 Private
5.3 By Country
5.3.1 India
5.3.2 China
5.3.3 Indonesia
5.3.4 Singapore
5.3.5 Rest of Asia-Pacific
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Apollo Hospital Enterprise Limited
6.2.2 Bumrungrad International Hospital
6.2.3 Fortis Healthcare Limited
6.2.4 KPJ Healthcare Berhad
6.2.5 Aditya Birla Memorial Hospital
6.2.6 Asian Heart Institute
6.2.7 Raffles Medical Group
6.2.8 Sunway Medical Centre
6.2.9 Yanhee Hospital
6.2.10 Mount Elizabeth Hospital*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
APAC Medical Tourism Industry Segmentation
Medical tourism is traveling to another country to obtain medical treatment or procedures. It may be done for various reasons, such as seeking lower costs for medical care, accessing treatments or procedures that may not be available in one's home country, or avoiding long waiting lists for certain medical procedures.
Asia-Pacific Medical Tourism Market is segmented by treatment type (dental treatment, cosmetic treatment, cardiovascular treatment, orthopedic treatment, neurological treatment, cancer treatment, fertility treatment, and other treatments), service provider (public and private), and country (India, China, Indonesia, Singapore, and rest of Asia-Pacific). The report offers market size and values in (USD) for the above segments.
| By Treatment Type | |
| Dental Treatment | |
| Cosmetic Treatment | |
| Cardiovascular Treatment | |
| Orthopedic Treatment | |
| Neurological Treatment | |
| Cancer Treatment | |
| Fertility Treatment | |
| Other Treatments |
| By Service Provider | |
| Public | |
| Private |
| By Country | |
| India | |
| China | |
| Indonesia | |
| Singapore | |
| Rest of Asia-Pacific |
APAC Medical Tourism Market Research FAQs
How big is the Asia-Pacific Medical Tourism Market?
The Asia-Pacific Medical Tourism Market size is expected to reach USD 53.11 billion in 2024 and grow at a CAGR of 15.34% to reach USD 108.43 billion by 2029.
What is the current Asia-Pacific Medical Tourism Market size?
In 2024, the Asia-Pacific Medical Tourism Market size is expected to reach USD 53.11 billion.
Who are the key players in Asia-Pacific Medical Tourism Market?
Apollo Hospital Enterprise Limited, Bumrungrad International Hospital, Fortis Healthcare Limited, KPJ Healthcare Berhad and Aditya Birla Memorial Hospital are the major companies operating in the Asia-Pacific Medical Tourism Market.
Which is the fastest growing region in Asia-Pacific Medical Tourism Market?
Asia-Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Asia-Pacific Medical Tourism Market?
In 2024, the North America accounts for the largest market share in Asia-Pacific Medical Tourism Market.
What years does this Asia-Pacific Medical Tourism Market cover, and what was the market size in 2023?
In 2023, the Asia-Pacific Medical Tourism Market size was estimated at USD 46.05 billion. The report covers the Asia-Pacific Medical Tourism Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the Asia-Pacific Medical Tourism Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Asia-Pacific Medical Tourism Industry Report
Statistics for the 2024 Asia-Pacific Medical Tourism market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. Asia-Pacific Medical Tourism analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
