South Korea Medical Tourism Market Overview 2023-2028
The South Korea medical tourism market size reached US$ 1.8 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 2.5 Billion by 2028, exhibiting a growth rate (CAGR) of 5.7% during 2023-2028.
Medical tourism refers to the practice of individuals traveling to different countries or regions to seek medical treatment, surgeries, or other healthcare services. It encompasses a wide range of services, which include elective cosmetic procedures, complex surgeries, and advanced medical treatments. It allows patients to choose destinations based on the reputation of healthcare facilities, the expertise of healthcare professionals, and the relative affordability of treatments compared to their home country. It can provide significant benefits, including access to cutting-edge technologies and potential cost savings. It also involves researching healthcare providers, understanding cultural and language differences, and making arrangements for post-treatment care.
South Korea Medical Tourism Market Trends and Drivers:
The increasing reputation of medical institutions and healthcare professionals among the masses represents one of the primary factors driving the demand for medical tourism in South Korea. Moreover, the rising costs of medical procedures in many Western countries are catalyzing the growth of medical tourism in the country. In addition, the growing adoption of innovative medical technologies and procedures, such as plastic surgery, dermatology, and stem cell therapy, is influencing the market positively in the country. Apart from this, measures and stringent regulations by governing agencies in the country to ensure the safety and well-being of patients are bolstering the market growth.
South Korea Medical Tourism Market 2023-2028 Analysis and Segmentation:
Top Key Players covered in this report are Ajou University Medical Center, Banobagi Plastic Surgery, CHA Fertility Center, Injeuniversity Haeundae Hospital, JK Plastic Surgery Center, Keimyung University Dongsan Hospital, Korea Medical Hub, Nasaret International Hospital, Sun Medical Center and Wonkwang University Hospital
The report segmented the market on the basis of region, type and treatment type.
Breakup by Type:
- Outbound
- Inbound
- Intrabound
Breakup by Treatment Type:
- Cosmetic Treatment
- Dental Treatment
- Cardiovascular Treatment
- Orthopaedic Treatment
- Bariatric Surgery
- Fertility Treatment
- Ophthalmic Treatment
- Others
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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