According to a new report published by Pristine Intelligence LLP, titled, “Health Tourism Market by Treatment Type, Service, Service Provider, and Age Group: Global Opportunity Analysis and Industry Forecast, 2024–2032,” the Global Health Tourism market size was valued at USD 6.12 billion in 2023, and is projected to reach USD 80.23 billion by 2032, registering a CAGR of 33.1% from 2024 to 2032. Health Tourism refers to People Travelling from one country to another country to obtain medical treatment and healthcare Services. Medi tour agent refers to medical tourism in the tourism sector, handling all tourism-related tasks including managing medical packages and making transport arrangements through a travel agency. They typically are employed by companies in the travel industry and its related sectors such as hotel management, sightseeing services, etc.

The concept of a Five-Star Hotel or Hospital & Spa is rapidly expanding in the field of medical tourism. Presently, hospitals are equipped with amenities similar to those found in hotels for promotional purposes. Health tourism is experiencing the most rapid growth in the global tourism sector, surpassing both the oil and manufacturing industries

The rise in globalization trend is one of the key drivers growing Numerous countries are providing state-of-the-art medical services with advanced technology and highly trained medical personnel, which is primarily attracting foreign patients in search of top-notch medical treatment. Cost efficiency enables patients to receive medical treatments and procedures at a reduced cost in comparison to what they would pay in their own countries. Health tourism offers not just medical procedures but also benefits individuals seeking cosmetic surgeries and treatments like rejuvenation and relaxation. This creates opportunities for healthcare tourism.

The emergence of online medical agencies presents a significant opportunity for the Global Health Tourism market. In the healthcare sector, the majority of advancements and funding were focused on transitioning to digital platforms. The COVID-19 crisis has highlighted the necessity of a digitally integrated healthcare system to effectively connect with patients. e-pharmacies are also concentrating on decreasing working capital and overhead costs, as well as helping pharmacy entrepreneurs expand their customer base. The telemedicine industry is forecasted to reach US$5.5 billion by 2025, driven primarily by teleconsultation and e-pharmacy, accounting for 90% of the growth. Due to increasing adoption rates and the positive expansion of virtual care, companies will streamline their business models.

Global Health Tourism Market, Segmentation

The Health Tourism market is segmented based on Treatment Type, Service, Service Provider, Age Group, and region.

Cancer Treatment:

People from all over the globe visit to receive treatment from famous oncologists and multidisciplinary teams. Advanced and state-of-the-art treatment options are available, including advanced surgical techniques, radiation therapy, targeted therapies, immunotherapy, and personalized medicine approaches.

Many individuals may find cancer treatments to be quite expensive, but health tourism offers affordable options for patients seeking treatment. Traveling to other countries for tourism can also decrease the time spent waiting for cancer treatment, which is vital for cancer management as patients do not have a lot of time for survival or treatment.

Public Segment:

In the Global Health Tourism market, Public Segment represents a popular and practical solution. Public healthcare facilities typically have established infrastructure and amenities, including advanced technology and specialized departments staffed by experienced medical professionals such as doctors, surgeons, and specialists, to offer high-quality healthcare services to patients in need of surgeries, treatments, and other medical care.

They also strive to offer affordable healthcare to a diverse group of people, including those from disadvantaged socio-economic backgrounds. They additionally receive backing and governmental efforts to dedicate substantial funding for enhancing and expanding public healthcare infrastructure, guaranteeing the provision of high-quality services to their residents, and sometimes expanding their offerings to foreign patients.

Region:

The Region analysis of the Global Health Tourism market highlights the dominance of North America where Health Tourism services are prevalent. the United States is renowned for its medical care, specialized medical centers, and research institutions. These aspects make North America an appealing choice for people looking for medical treatments and the emphasis is put on Research and Development, leading to the continuous advancement and growth of this sector. This focus on creativity strengthens the area's reputation as a top choice for unique and challenging medical situations. Health Tourism emerges as an attractive and efficient alternative.

Some of The Active Market Players Are-

• Bumrungrad International Hospital (Thailand)
• Apollo Hospitals (India)
• Fortis Healthcare (India)
• Kpj Healthcare Berhad (Malaysia)
• Anadolu Medical Center (Turkey)
• Asian Heart Institute (India)
• Clemenceau Medical Center (Lebanon)
• Bangkok Hospital Group (Thailand)
• Acibadem Healthcare Group (Turkey)
• Medanta - The Medicity (India)
• Shouldice Hospital - Canada
• Wooridul Spine Hospital - South Korea
• Gleneagles Hospital (Singapore)
• Thomson Medical (Singapore) and Other Active Players.

Key Industry Developments

In January 2024, Fern N Petals, a Gifting brand launched the medical tourism venture MediJourney which is for Personalized wellbeing and healthcare services and also provides expert consultations, Medical Visa Support, and medicine.

In January 2024, KPJ Pahang Specialist Hospital unveiled its First Mobile Clinic for underserved communities this ceremony saw the clinic entrusted to Waqaf Felda from Suruhanjaya Syarikat Malaysia (SSM) as part of SSM's Corporate Waqalah Zakat distribution, represents more than a mere milestone.

Key Findings of the Study 

• Global Health Tourism market growth driven by Rise in globalization trend
• Online medical agencies offer a significant opportunity for longer consumers.
• Cancer treatments can be financially more for many people, and Health tourism provides treatment at a low cost for patients which is the very best option.
• Public healthcare facilities often have well-established infrastructure and facilities with equipment, advanced technology, and specialized departments with highly skilled and experienced medical professionals.