Outbound Medical Tourism in North America Poised for Significant Growth, Projected to Reach USD 605.3 Billion by 2032 at a CAGR of 25%

The outbound medical tourism market in North America is experiencing substantial growth, driven by a rising number of individuals opting for cross-border medical treatments. Countries offering high-quality healthcare at significantly lower costs are increasingly attracting North American patients seeking affordable alternatives to expensive domestic treatments.

A study by the International Medical Tourism Journal in 2014 highlighted that medical treatments in the U.S. are, on average, 85% more expensive than those in countries such as India and Mexico. For example, a knee replacement surgery that costs between USD 35,000 and USD 60,000 in the U.S. can be performed for under USD 20,000 in destinations like Costa Rica and India, which includes lodging and airfare.

As a result of these cost disparities, North American outbound medical tourism services are witnessing a sharp rise in demand. The market is projected to register a remarkable compound annual growth rate (CAGR) of 25% throughout the forecast period. By 2032, the North American outbound medical tourism services market is expected to be valued at USD 605.3 billion.

Rising patient preference for outbound medical services expected to boost market growth

Rising rate of health insurance premiums, high cost of medical treatments in the U.S, and parallel tourism with medical treatment are some of the main factors anticipated to drive revenue growth of the North America outbound medical tourism services market over the forecast period (2022 – 2032). Growth of the North America outbound medical tourism services market is further driven by a large ageing baby boomer population and a large uninsured population, long waiting time for appointments with specialists in the U.S, and an increasing preference for non-conventional treatment options.

However, lack of effective follow-up care on returning home, rampant medical malpractices in medical tourism destinations, proliferation of superbugs in medical tourism destinations, problems associated with language barriers, and privacy concerns are some of the challenges anticipated to restrict market growth of the North America outbound medical tourism services market over the forecast period.

Economic factors such as the rising rate of health insurance premiums, the high cost of medical treatments in the U.S., and parallel tourism with medical treatment are expected to boost the growth of the North American outbound medical tourism services market between 2016 and 2026. The other factors impacting the North American outbound medical tourism services markets are long waiting times for specialist appointments in the U.S. and increasing preference for non-conventional treatment options.

The demand for cosmetic correction procedures and dental treatments has been significantly high in the U.S. market in recent years, making North America the most lucrative regional market for outbound medical tourism services. According to the International Society of Aesthetic Plastic Surgery, the U.S. was the largest market for cosmetic procedures in 2015.

Lack of effective follow-up care on returning home, rampant medical malpractices in medical tourism destinations, proliferation of superbugs in medical tourism destinations, problems associated with language barriers, and privacy concerns are some of the challenges anticipated to restrict revenue growth of the North American outbound medical tourism services markets over the forecast period.

Segmentation highlights

The North American outbound medical tourism services market is segmented into the following therapeutic applications – Cosmetic Surgery Treatment, Dental Treatment, Cardiovascular Treatment, Orthopaedic Treatment, Cancer Treatment, Fertility Treatment, Weight Loss Treatment, Spinal Surgery Treatment, Neurology Treatment, and Other General Treatment.

The Cosmetic Surgery Treatment segment is estimated to be valued at US$ 3,760.9 Mn by 2016 end The Cancer Treatment segment is anticipated to register a CAGR of 22.0% over the forecast period The Orthopaedic Treatment segment is estimated to create an absolute $ opportunity of US$ 1,658.9 Mn in 2017 over 2016

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Market segmentation

By Therapeutic Application:

• Cosmetic Surgery Treatment
• Dental Treatment
• Cardiovascular Treatment
• Orthopaedic Treatment
• Cancer Treatment
• Fertility Treatment
• Weight Loss Treatment
• Spinal Surgery Treatment
• Neurology Treatment
• Other General Treatment

By Region:

• U.S
• Canada

Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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