South Korea Medical Tourism Market Overview 2023-2028
IMARC Group, a leading market research company, has recently releases report titled “South Korea Medical Tourism Market:Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the South Korea Medical Tourism share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Medical tourism refers to the deliberate travel across international borders with the purpose of receiving specialized healthcare treatments. These treatments cover a wide range of services, including aesthetic procedures, eye care, dental treatments, heart-related interventions, bone-related surgeries, and even complex procedures like stem-cell transplantation. When selecting a destination for medical tourism, several factors are taken into consideration, such as the cost of the treatment, the availability of skilled medical professionals, state-of-the-art medical facilities, geographical proximity, and more. Apart from enhancing the quality of life, medical travel also offers numerous financial benefits, such as job creation in the healthcare industry, the establishment of global healthcare standards, the exchange of knowledge, and the boost of foreign income, among others.
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.
South Korea Medical Tourism Market Trends and Drivers:
The South Korea medical tourism market is experiencing growth due to various factors. One of the key drivers is the availability of advanced healthcare opportunities, skilled practitioners, and cost-effective therapies, attracting a growing number of inbound medical travelers. Additionally, the market is stimulated by the increasing demand for elective therapeutic procedures that are not covered by medical insurance, such as fertility treatments, gender reassignment surgeries, dental reconstruction, and cosmetic surgeries. The government of South Korea has also taken initiatives to raise awareness and promote medical tourism, contributing to market growth. Healthcare organizations and centers are offering comprehensive healthcare travel packages that cover all aspects of the trip, including ticket bookings, accommodation, and healthcare coverage, further boosting the market across the country. Furthermore, an emerging trend in the market is the integration of wellness practices with traditional Korean medicinal therapies, which is expected to drive the South Korea medical tourism market in the forecasted period.
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 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
If you want the latest primary and secondary data (2023-2028) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.
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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