Published by Persistence MarketResearch
Posted on September 23, 2021
5 min readLast updated: February 2, 2026
The Medical Tourism Market is projected to reach $162.7 Bn by 2031, driven by affordable healthcare and technological advancements.
The Medical Tourism Market will be worth US$ 162.7 Bn at a CAGR of 10.2% from 2021-2031. With interconnected ecosystems taking the center stage, advancements in technology are bound to bring about a digital alteration in the healthcare vertical. Also, bio-based medications are on the anvil.
As per Persistence Market Research’s latest industry analysis, the global medical tourism market was valued at US$ 162.7 Bn in 2020, and is expected to exhibit a CAGR of 10.2% over the forecast period (2021-2031).
Accessibility and affordability of high-quality healthcare facilities, health insurance portability, support from local governments and tourism departments, and increasing advertising and marketing strategies related to medical tourism are key factors driving market growth. Furthermore, availability of state-of-the-art medical technologies at medical tourism destinations is also supplementing market expansion.
Asian countries accounted for the largest market share due to their excellent healthcare facilities at relatively low cost of treatment, availability of inexpensive flights, and increase in marketing & online consumer information about the availability of medical services.
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Considering consolidation activities in the healthcare tourism industry, collaborations have emerged as a winning strategy by key players. Leading players are strengthening their services through partnerships and reaching out to key as well as emerging markets.
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Key Takeaways from Market Study
“Higher treatment cost in developed countries is a key factor that is expected to drive demand for medical tourism across other regions over the coming years,” says an analyst of Persistence Market Research.
Market Competition
Leading service providers continue to rely upon acquisitions, collaborations, alliances, and product launches to gain large revenue shares in the medical tourism market. As such, providing access to safe and effective treatment will remain key aspects to succeed in this competitive marketplace.
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What Does the Report Cover?
Persistence Market Research offers a unique perspective and actionable insights on the global medical tourism market in its latest study, presenting historical demand assessment of 2016 – 2020 and projections for 2021 – 2031.
The research study is based on treatment (dental treatment, cosmetic treatment cardiovascular treatment, orthopedic treatment, neurological treatment, cancer treatment, fertility treatment, and others), age group (children, adolescents, adults, and geriatric), application (wellness services and therapeutic services), and traveller (independent travellers and group travellers), across seven key regions of the world.
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The post The Medical Tourism Market To Be At Its Innovatively Calculative Finest (Reaching US$ 162.7 Bn) In The Next 10 Years appeared first on Lake Shore Gazette.
The article discusses the growth and future projections of the global medical tourism market.
Affordable healthcare, technological advancements, and government support are key drivers.
Asian countries lead due to cost-effective healthcare and increased marketing efforts.
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