The rise in North America outbound medical tourism services market is reshaping the healthcare landscape, as more individuals seek affordable medical treatments abroad. The escalating cost of healthcare in the United States, coupled with the growing recognition of high-quality medical services available in other countries, has created a robust demand for medical tourism services. With significant potential for growth, the North America outbound medical tourism services market is projected to reach USD 605.3 billion by 2032, growing at a compound annual growth rate (CAGR) of 25% during the forecast period.
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Growing Demand for Cost-Effective Medical Treatments Abroad
According to a 2014 study published in the International Medical Tourism Journal, the cost of medical treatment in the United States is 85% higher than that in countries such as India, Costa Rica, and Mexico. For example, a knee replacement surgery in the USA can range from USD 35,000 to USD 60,000, while the same procedure in countries like Costa Rica and India can cost under USD 20,000, including airfare and lodging costs. This stark difference in price is a major driving force behind the growing trend of outbound medical tourism from North America.
Individuals from the United States and Canada are increasingly seeking medical treatments abroad, where they can receive world-class care at a fraction of the cost. This has led to a rise in demand for medical tourism services, fueling market growth across North America. The growing trend is expected to expand further, with the North America outbound medical tourism services market set to grow substantially over the next decade.
North America Outbound Medical Tourism Services Market Growth
In 2022, the North America outbound medical tourism services market was valued at over USD 65.0 billion, and it is expected to witness rapid growth, with projections estimating the market will reach USD 605.3 billion by 2032. This robust growth is driven by the increasing number of people opting for cross-border medical treatments, particularly in countries that offer competitive pricing for medical services.
In terms of revenue share, the Cosmetic Surgery Treatment segment led the market in 2022 and is expected to continue its dominance throughout the forecast period. With a high value CAGR of 32.9%, cosmetic surgeries such as facelifts, liposuctions, and breast augmentations are driving significant revenue growth within the outbound medical tourism market. The Dental Treatment segment is also expected to occupy a substantial share in terms of volume, with a forecasted CAGR of 27.2% over the coming years. Dental procedures, including implants, veneers, and full-mouth restorations, are highly sought after by individuals seeking affordable yet high-quality care abroad.
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Market Trends and Regional Insights
The United States is projected to maintain a dominant position in the North America outbound medical tourism services market, with a substantial share in terms of value by the end of 2032. It is expected to grow at a CAGR of 25% during the forecast period. Despite the high cost of healthcare, the U.S. remains a major source of outbound medical tourists due to the increasing awareness of cost-effective treatment options available globally.
Canada, while still a significant player in the market, is anticipated to experience a comparatively slower growth rate. The Canadian outbound medical tourism market is expected to register a CAGR of 18.1% over the forecast period, owing to a slightly lower need for cross-border medical treatments compared to the U.S.
Competitive Outlook
The North America outbound medical tourism services market is competitive, with several prominent players offering a wide range of services aimed at facilitating medical travel. Key players in the market include Apollo Hospital Enterprise Limited, Bumrungrad International Hospital, KPJ Healthcare Berhad, Christus Muguerza Hospital, WorldMed Assist, Mednamaste, and Global Medical Tourism Inc. These companies are adopting innovative strategies to strengthen their position in the market, including backward integration to support their core business of medical tourism.
Many companies are also offering additional services, such as insurance and financing solutions for medical tourism, to make the process easier and more affordable for patients. Furthermore, these companies are expanding their global footprint by enhancing their foreign customer base and establishing partnerships with healthcare providers in popular medical tourism destinations. This is helping to broaden access to high-quality, affordable healthcare services for individuals across North America.
Market Segmentation
The North America outbound medical tourism services market can be segmented based on therapeutic application and region:
By Therapeutic Application:
- Cosmetic Surgery Treatment
- Dental Treatment
- Cardiovascular Treatment
- Orthopedic Treatment
- Cancer Treatment
- Fertility Treatment
- Weight Loss Treatment
- Spinal Surgery Treatment
- Neurology Treatment
- Other General Treatments
By Region:
- USA
- Canada
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Conclusion
Outbound medical tourism is rapidly becoming a viable alternative for many North Americans seeking affordable healthcare options. With lower treatment costs abroad and increasing accessibility to high-quality medical services, the market for outbound medical tourism services is poised for significant growth. The North America outbound medical tourism services market is set to experience a strong expansion, with the USA leading the charge as the largest source of medical tourists, and segments like cosmetic surgery and dental treatment driving revenue. As the industry continues to evolve, more individuals are expected to explore medical tourism options, contributing to the growth and diversification of this emerging market.
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