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The U.S. medical tourism market size was worth USD 4.58 billion in 2022 and is projected to grow at a CAGR of 21.0% during the forecast period.
Medical tourism, also called as medical travel, can be defined as travel across international borders of the global population seeking medical or wellness treatment across healthcare settings. The adoption of medical tourism across developing countries is high owing to the low cost of service and provision of efficient healthcare across hospitals.
The number of international visitors for medical services across the country is high. The frequency of patients seeking specialized treatments and procedures is increasing across the U.S., owing to the presence of highly qualified healthcare professionals and state-of-the-art medical facilities. Moreover, the rising emphasis of leading players to boost medical tourism in the U.S. is anticipated to propel the adoption of healthcare services, further augmenting the market growth.
Similarly, the growing number of medical tourists undergoing medical and cosmetic procedures across U.S. hospitals is anticipated to drive market growth during the forecast period.
The COVID-19 pandemic led to the decline of the U.S. medical tourism market in 2020. This was owing to the closing down of country borders and a massive decline in the number of medical tourists visiting for medical care across the country.
High Emphasis to Provide Quality Care for International Patients
Healthcare facilities are now focusing on high-end medical technologies and clinical research to boost medical tourism in the U.S. Moreover, the rising emphasis of key players on providing value-added health services across varied applications such as cardiovascular surgeries & transplants, cosmetic surgeries, and cancer treatments is leading to a high influx of international patients in the country for the solution.
Rising Access to Pioneering Technologies to Propel Market Growth
Advanced technologies such as telehealth and artificial intelligence are shaping the new-age medical tourism, diminishing the need for trans-border travel for health services. Similarly, the rising utilization of telemedicine for follow-up remote monitoring and consultation among internationally treated patients is expected to augment the U.S. medical tourism market growth.
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China represented 15.1% of total expenditure for medical tourism in the U.S. in 2020, followed by Canada and Mexico.
Rise in Outbound Medical Tourism May Hamper Market Growth Prospects
The incidence rate of international health visits by the U.S. population is rising owing to the high costs of treatment and surgery across the country. Moreover, the increasing demand for cost-effective and quality care of surgical and non-surgical procedures across neighboring countries, such as Mexico and Canada, is anticipated to hamper the growth of the U.S. market during 2023-2030.
Based on service, the market is segmented into medical treatment, wellness treatment and alternative treatment.
The medical treatment segment held a dominant share in 2022 owing to the increasing prevalence of chronic disorders among the population and increasing demand for medical procedures, such as dental, orthopedic surgeries, and cosmetic surgeries, among medical tourists. Similarly, the growing advanced healthcare infrastructure and presence of trained medical professionals for the treatment of medical tourists further augment the segment's growth.
Based on service providers, the market is segmented into public and private.
The private segment held the largest share in 2022 owing to the increasing number of private service providers with advanced medical & health facilities and hospital infrastructure as compared to public providers in the U.S. Moreover, the rising focus of medical tourists on private service providers in the U.S. for treatment, owing to high-quality healthcare services provided by these hospitals, is expected to drive the segment growth during the forecast period.
This market is fragmented, with the presence of a majority of private and public healthcare providers. Prominent players such as Cleveland Clinic, Johns Hopkins Health System, and Mayo Foundation for Medical Education and Research (MFMER) led the U.S. market in 2022. The high focus of industry players on the expansion of their medical services across emerging countries and the significant focus on medical tourism services propelled their market share.
Some of the other healthcare organizations with a considerable presence in the U.S. market include Cedars-Sinai and Johns Hopkins Health System, among others. The increasing emphasis of these players on providing cost-effective medical surgeries for medical tourists is expected to propel their U.S. medical tourism market share during 2023-2030.
An Infographic Representation of U.S. Medical Tourism Market
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The U.S. market report includes detailed information regarding various insights and statistics of the market. Some of them are growth drivers, restraints, competitive landscape, regional analysis, and challenges. It further offers an analytical depiction of the U.S. medical tourism industry trends and estimations to illustrate the forthcoming investment pockets. The market is quantitatively analyzed from 2019 to 2030 to provide its financial competency. The information gathered in the report has been taken from several primary and secondary sources.
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CAGR of 21.0% from 2023 to 2030
Value (USD Billion)
By Service Provider
Fortune Business Insights says that the U.S. market was worth USD 4.58 billion in 2022.
The market is expected to exhibit a CAGR of 21.0% during the forecast period (2023-2030).
By service, the medical treatment segment accounted for the largest market share in 2022.
Cleveland Clinic, Mayo Foundation for Medical Education and Research (MFMER) and The General Hospital Corporation are the top players in the market.
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