Medical Tourism Market to Hit US$ 605.2 Bn by 2035, Fueled by Cost Savings & Advanced Healthcare Services

Medical Tourism Market to reach US$ 605.2 Bn by 2035, growing at 20.1% CAGR, driven by cost savings and advanced healthcare access.

WILMINGTON, DE, UNITED STATES, August 15, 2025 /EINPresswire.com/ -- The global medical tourism market, valued at US$ 77.8 Billion in 2024, is projected to grow at a CAGR of 20.1% from 2025 to 2035, reaching US$ 605.2 Billion by the end of 2035, according to Transparency Market Research. Rising healthcare costs in developed nations, combined with access to high-quality medical services at significantly lower prices in developing countries, are fueling robust industry growth.

The increasing elderly population, coupled with the growing number of uninsured individuals, is prompting patients to seek affordable yet sophisticated medical treatments abroad. From cosmetic surgeries with quick recovery times to advanced cardiovascular procedures, medical tourism is reshaping global healthcare access while supporting economic development in destination countries.

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Medical Tourism Market Introduction

Medical tourism refers to patients traveling internationally for medical treatments ranging from complex procedures such as cardiac surgery, orthopedics, and neurosurgery to elective treatments like cosmetic surgery and dental care. Escalating healthcare expenses in developed economies and the availability of cost-effective, high-quality care in developing nations are major growth drivers.

In the United States alone, around 26 million people lacked health insurance and 68.5 million were without dental insurance in 2023. Over one million Americans travel abroad annually for medical services, where treatment costs can be 50% to 70% lower than in the U.S., even after factoring in travel expenses.

Key Market Growth Drivers

Cost Savings in Treatment Procedures

The potential for cost-effectiveness remains the primary catalyst for medical tourism. Patients from developed nations often travel to destinations like Mexico, Thailand, and India for procedures such as dental work, orthopedic surgeries, and cosmetic treatments.

Procedure Cost Comparisons (US$):

India: Heart valve replacement ($7,000), Hip replacement ($10,200)
Thailand: Heart valve replacement ($22,000), Hip replacement ($12,700)
Singapore: Heart valve replacement ($16,300), Hip replacement ($12,000)
Malaysia: Hip replacement ($7,500)

While affordability is a key factor, patient decisions are also influenced by the quality of care, medical expertise, and facility standards.

Availability of Latest Medical Technologies and Wider Treatment Options

Countries such as India, Thailand, Singapore, and Malaysia have made substantial investments in advanced technologies like robotic surgery, proton therapy, and gene sequencing. For example, robotic heart surgery in the U.S. costs US$ 20,000 to US$ 100,000, while in India it ranges between US$ 10,000 and US$ 15,000. These advancements, paired with affordability, have positioned these countries as leading destinations for medical tourists.
Emergence of Private Players Offering Advanced Services

The rise of private healthcare providers delivering world-class services, coupled with government initiatives, is accelerating industry growth. For instance, Thailand plans to transform Phuket into a healthcare tourism hub by 2028, with the Medical Plaza offering geriatric care, rehabilitation, and international patient services.

Regional Outlook

Asia Pacific is anticipated to dominate the global medical tourism market through 2035. Nations including Singapore, Thailand, India, and Malaysia boast state-of-the-art facilities, skilled medical professionals trained internationally, and competitive pricing.

India stands out as a premier destination, not only for medical procedures but also for wellness tourism encompassing alternative medicine and spa therapies. Government-backed initiatives, reduced waiting times, and an expanding infrastructure are solidifying the country’s global leadership in the sector.

Analysts’ Viewpoint

“Medical tourism represents the globalization of healthcare, offering developing nations a unique opportunity to serve international patients while boosting their economies,” analysts at Transparency Market Research note. “With cost savings, advanced medical capabilities, and supportive government policies, the sector is poised for remarkable expansion.”

Key Players

Prominent players in the medical tourism market include Apollo Hospitals Enterprise Limited, Bumrungrad International Hospital, Fortis Healthcare Limited, Bangkok Chain Hospital Public Company Limited, Saudi German Hospital Group, KPJ Healthcare, Al Rahba Hospital, and Zulekha Hospital.

These companies are focusing on technological innovation, expanding service portfolios, and forming strategic partnerships to enhance global competitiveness.

Recent Developments

Thailand announced plans to establish the Phuket Medical Plaza by 2028, featuring a one-stop international healthcare center and convention facilities.
February 2025: Apollo Hospitals urged the Indian government to adopt a liberal visa policy under the “Heal in India” initiative to attract more international patients.

Frequently Asked Questions

1.How big was the medical tourism market in 2024?

The medical tourism market was valued at US$ 77.8 Bn in 2024.

2.How big will the medical tourism business be in 2035?

The medical tourism market is projected to cross US$ 605.2 Bn by the end of 2035.

3.What are the factors driving the medical tourism market?

Cost savings in treatment procedures, and availability of latest medical technologies & wider treatment options.

4.What will be the CAGR of the medical tourism industry during the forecast period?

The CAGR is anticipated to be 20.1% from 2025 to 2035.

5.Which region will account for a major share of the medical tourism sector during the forecast period?

Asia Pacific is expected to account for the largest share from 2025 to 2035.

6.Who are the prominent players operating in medical tourism market?

Al Rahba Hospital, Apollo Hospitals Enterprise Limited, Asklepios Kliniken GmbH, Bahrain Specialist Hospital, Bangkok Chain Hospital Public Company Limited, Bumrungrad International Hospital, Dr. Soliman Fakeeh Hospital, Fortis Healthcare Limited, Hamad Medical Corporation, Klinikum Medical Link, and others.

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