In 2018, the actual number of medical tourists from Singapore traveling to South Korea for medical treatments stood at around *** thousand. A total of almost *** thousand foreigners came to South Korea that year as medical tourists, the highest number in the past ten years. South Korea is a popular destination for medical tourism since it offers advanced medical facilities and technology at lower costs compared to other major countries.

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Medical Tourism Market Size 2025-2029

The medical tourism market size is valued to increase USD 132.8 billion, at a CAGR of 36.6% from 2024 to 2029. Availability of low-cost treatment options will drive the medical tourism market.

Major Market Trends & Insights

APAC dominated the market and accounted for a 34% growth during the forecast period.
By Source - Domestic segment was valued at USD 10.20 billion in 2023
By Service Type - Private segment accounted for the largest market revenue share in 2023

Market Size & Forecast

Market Opportunities: USD 1.00 billion
Market Future Opportunities: USD 132.80 billion
CAGR : 36.6%
APAC: Largest market in 2023

Market Summary

The market encompasses the global healthcare industry's trend of patients traveling to different countries for more affordable and advanced medical treatments. Core technologies and applications, such as telemedicine and medical tourism platforms, are revolutionizing the industry, making it more accessible and convenient for patients. Medical tourism is projected to reach a value of USD 102.2 billion by 2023, representing a significant growth in demand for low-cost treatment options. However, the market faces challenges, including the lack of advanced infrastructure in developing nations and regulatory complexities.
Despite these hurdles, the growing focus on technological advancements offers immense opportunities for market expansion and innovation. For instance, the adoption rate of telemedicine is expected to reach 70% by 2025, providing a viable solution for patients seeking affordable and accessible healthcare services.

What will be the Size of the Medical Tourism Market during the forecast period?

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How is the Medical Tourism Market Segmented and what are the key trends of market segmentation?

The medical tourism industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Source

  Domestic
  International


Service Type

  Private
  Public


Type

  Cardiovascular treatment
  Cosmetic treatment
  Fertility treatment
  Orthopedics treatment
  Others


Geography

  North America

    US
    Canada


  Europe

    Germany
    UK


  Middle East and Africa

    UAE


  APAC

    China
    India
    Singapore
    South Korea


  Rest of World (ROW)

By Source Insights

The domestic segment is estimated to witness significant growth during the forecast period.

The market is experiencing substantial growth, with patient referral networks and healthcare translation services playing crucial roles in connecting patients with specialized medical facilities. According to recent estimates, the market for medical tourism is projected to expand by 25% by 2025, driven by increasing demand for affordable, high-quality healthcare services. Healthcare facility accreditation, cultural sensitivity training, and patient transport logistics are essential considerations for medical tourism facilitators, ensuring ethical and effective care for international patients. Regulations governing medical tourism are evolving, with a focus on quality assurance programs, remote patient monitoring, and destination healthcare choices. Treatment outcome metrics, medical visa requirements, and patient satisfaction surveys are essential indicators of market performance.

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The Domestic segment was valued at USD 10.20 billion in 2019 and showed a gradual increase during the forecast period.

Telemedicine consultations and treatment cost comparisons enable patients to make informed decisions about their care, while advanced medical equipment and diagnostic imaging technology contribute to improved treatment outcomes. Procedural specialization centers, digital health platforms, pre-operative assessments, and post-operative recovery services are key areas of innovation, with personalized treatment plans and cross-border healthcare access becoming increasingly important. The integration of ethical considerations and second medical opinions further enhances the value proposition of medical tourism, attracting an increasing number of patients seeking advanced surgical procedures and specialized care. From 2025 to 2029, the domestic segment of the market is expected to grow by 30%, driven by hospital infrastructure quality, quality assurance programs, and the increasing popularity of medical travel packages.

The ongoing unfolding of these trends underscores the dynamic and evolving nature of the medical tourism industry, offering significant opportunities for growth and innovation across various sectors.

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Regional Analysis

APAC is estimated to contribute 34% to the growth of the

In 2024, about *** million people traveled to Malaysia for medical and healthcare purposes. Medical tourism has increased in Malaysia since 2014, but the COVID-19 pandemic and travel restrictions in 2020 and 2021 caused a significant decrease in the number of medical tourists. The emerging leader of healthcare Malaysia is among other countries in the Asia-Pacific region such as Singapore, Thailand, and South Korea that have promoted the medical tourism industry. In 2005, the Ministry of Health (MoH) Malaysia established the Malaysian Healthcare Travel Council (MHTC) to promote healthcare travel. To support its ambition to be a medical tourism hub, Malaysia focused on developing its medical sector, by increasing the number of registered doctors and encouraging industrial collaboration between its private and public sectors, among others. The MHTC was created as a separate public sector entity in 2011, which gave it greater freedom to regulate the market. Since then, there had been significant growth in the medical tourism revenue. The Malaysian Health Travel brand The industry development and promotions, both domestic and abroad, have increased their international patient base and enticed foreign investment. The collaboration of the MHTC with Air Asia Indonesia is one such initiative that aimed at promoting metropolitan cities like Penang as the medical tourism center of the nation. The National Health Institute established the International Patient Center (IPC) to assist traveling patients with immigration services, visa, and health insurance transfers to make Malaysia the preferred destination for healthcare. Through this, Malaysia could see a steady development in the industry, which was reflected in the increasing value of the tourist expenditure for medical purposes, among others.

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India Foreign Tourist Arrivals: Medical Visa: South East Asia: Singapore data was reported at 452.000 Unit in 2014. India Foreign Tourist Arrivals: Medical Visa: South East Asia: Singapore data is updated yearly, averaging 452.000 Unit from Dec 2014 (Median) to 2014, with 1 observations. India Foreign Tourist Arrivals: Medical Visa: South East Asia: Singapore data remains active status in CEIC and is reported by Ministry of Tourism. The data is categorized under India Premium Database’s Tourism Sector – Table IN.QB029: Foreign Tourist Arrivals: by Visa Type: Medical Visa.

Dataset from Singapore Tourism Board. For more information, visit https://data.gov.sg/datasets/d_e285a651ec353416054195528ca988a9/view

As of 2021, a hip replacement surgery in Singapore cost an estimated **** thousand U.S. dollars, which was approximately *** thousand U.S. dollars less expensive than in the United States. That year, a hip replacement surgery in Malaysia was less than half the price of a comparable treatment in the United States. Alongside the high quality of care and access to treatments unavailable elsewhere, lower healthcare costs are one of the main drivers of medical tourism to Southeast Asian countries. Thailand, Malaysia, and Singapore are the leading destinations for health tourists in the region.

Japan TE: Singapore: Medical Treatment/Medical Check-Up data was reported at 0.000 Person in Jun 2018. This stayed constant from the previous number of 0.000 Person for Mar 2018. Japan TE: Singapore: Medical Treatment/Medical Check-Up data is updated quarterly, averaging 0.000 Person from Mar 2014 (Median) to Jun 2018, with 18 observations. The data reached an all-time high of 2.000 Person in Jun 2017 and a record low of 0.000 Person in Jun 2018. Japan TE: Singapore: Medical Treatment/Medical Check-Up data remains active status in CEIC and is reported by Ministry of Land, Infrastructure, Transport and Tourism. The data is categorized under Global Database’s Japan – Table JP.Q032: Tourism and Leisure: Satisfaction Rating Visiting to Japan.

A survey on hotel operators in Singapore found that ** percent of respondents believed COVID-19's impact has been much worse on hotel market performance than other health scares. By comparison, *** percent were of the opinion that it was similar to others across the years. In an effort to help Singapore manage the spread of infections, several hotels have set aside entire compounds for stay-home notice returnees, transferring existing guests to other hotels from the same chain.

Japan MSP: Singapore: Health Care, Toiletries data was reported at 1.000 Person in Mar 2018. Japan MSP: Singapore: Health Care, Toiletries data is updated quarterly, averaging 1.000 Person from Mar 2018 (Median) to Mar 2018, with 1 observations. Japan MSP: Singapore: Health Care, Toiletries data remains active status in CEIC and is reported by Ministry of Land, Infrastructure, Transport and Tourism. The data is categorized under Global Database’s Japan – Table JP.Q032: Tourism and Leisure: Satisfaction Rating Visiting to Japan.

As of 2021, a knee replacement surgery in Singapore was approximately *** thousand U.S. dollars less expensive than in the United States. That year, a knee replacement surgery in Malaysia was just over a quarter of the price of a comparable treatment in the United States. Alongside the high quality of care and access to treatments unavailable elsewhere, lower healthcare costs are one of the main drivers of medical tourism to Southeast Asian countries. Thailand, Malaysia, and Singapore are the leading destinations for health tourists in the region.

Japan PR: Singapore: AS: Massage, Medical data was reported at 0.714 JPY in Mar 2018. Japan PR: Singapore: AS: Massage, Medical data is updated quarterly, averaging 0.714 JPY from Mar 2018 (Median) to Mar 2018, with 1 observations. Japan PR: Singapore: AS: Massage, Medical data remains active status in CEIC and is reported by Ministry of Land, Infrastructure, Transport and Tourism. The data is categorized under Global Database’s Japan – Table JP.Q029: Tourism and Leisure: Purchase Rate per Purchaser by Nationality.

As of 2021, a coronary artery bypass graft (CABG) surgery in Singapore was approximately **** thousand U.S. dollars less expensive than in the United States. That year, a coronary artery bypass graft in Malaysia was just around ** percent of the price of a comparable treatment in the United States. Alongside the high quality of care and access to treatments unavailable elsewhere, lower healthcare costs are one of the main drivers of medical tourism to Southeast Asian countries. Thailand, Malaysia, and Singapore are the leading destinations for health tourists in the region.

Japan AE: Singapore: Shopping: Medicine, Health goods, Toiletries data was reported at 9,429.237 JPY in Dec 2017. This records an increase from the previous number of 7,564.630 JPY for Sep 2017. Japan AE: Singapore: Shopping: Medicine, Health goods, Toiletries data is updated quarterly, averaging 8,372.553 JPY from Mar 2014 (Median) to Dec 2017, with 16 observations. The data reached an all-time high of 16,730.482 JPY in Dec 2014 and a record low of 3,977.921 JPY in Mar 2016. Japan AE: Singapore: Shopping: Medicine, Health goods, Toiletries data remains active status in CEIC and is reported by Ministry of Land, Infrastructure, Transport and Tourism. The data is categorized under Global Database’s Japan – Table JP.Q028: Tourism and Leisure: Average Expenditure per Purchaser by Nationality.

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Japan PR: Singapore: Shopping: Medicine, Health goods, Toiletries data was reported at 38.571 % in Dec 2017. This records an increase from the previous number of 28.571 % for Sep 2017. Japan PR: Singapore: Shopping: Medicine, Health goods, Toiletries data is updated quarterly, averaging 29.754 % from Mar 2014 (Median) to Dec 2017, with 16 observations. The data reached an all-time high of 38.571 % in Dec 2017 and a record low of 8.974 % in Jun 2014. Japan PR: Singapore: Shopping: Medicine, Health goods, Toiletries data remains active status in CEIC and is reported by Ministry of Land, Infrastructure, Transport and Tourism. The data is categorized under Global Database’s Japan – Table JP.Q029: Tourism and Leisure: Purchase Rate per Purchaser by Nationality.

Japan PR: Singapore: Shopping: Health Care, Toiletries data was reported at 8.022 JPY in Mar 2018. Japan PR: Singapore: Shopping: Health Care, Toiletries data is updated quarterly, averaging 8.022 JPY from Mar 2018 (Median) to Mar 2018, with 1 observations. Japan PR: Singapore: Shopping: Health Care, Toiletries data remains active status in CEIC and is reported by Ministry of Land, Infrastructure, Transport and Tourism. The data is categorized under Global Database’s Japan – Table JP.Q029: Tourism and Leisure: Purchase Rate per Purchaser by Nationality.

Sri Lanka Visitor Arrivals: Health: East Asia: Singapore data was reported at 1,176.000 Person in 2016. This records an increase from the previous number of 0.000 Person for 2014. Sri Lanka Visitor Arrivals: Health: East Asia: Singapore data is updated yearly, averaging 588.000 Person from Dec 2014 (Median) to 2016, with 2 observations. The data reached an all-time high of 1,176.000 Person in 2016 and a record low of 0.000 Person in 2014. Sri Lanka Visitor Arrivals: Health: East Asia: Singapore data remains active status in CEIC and is reported by Sri Lanka Tourism Development Authority. The data is categorized under Global Database’s Sri Lanka – Table LK.Q003: Visitor Arrivals: by Purpose.