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 pertains to a premeditated journey beyond national frontiers to obtain specific healthcare treatments. These services encompass aesthetic, ocular, dental, heart-related, and bone-related treatments to numerous intricate procedures, including stem-cell transplantation. Several factors considered in choosing the destination involve the expense of the therapy, the presence of proficient medical staff, and cutting-edge medical infrastructure, geographical proximity, and so on. In addition to improving life quality, healthcare travel provides various fiscal advantages, such as creating employment opportunities in the healthcare sector, establishing international healthcare benchmarks, promoting knowledge exchange, augmenting foreign income, etc. 

South Korea Medical Tourism Market Trends and Drivers:

The increasing inbound medical travel, on account of the availability of state-of-the-art healthcare opportunities, highly-trained practitioners, and cost-effective therapies, is among the key factors driving the South Korea medical tourism market. Moreover, the widespread adoption of elective therapeutics procedures that are not covered by medical insurance, including fertility treatments, gender reassignment surgeries, dental reconstruction, cosmetic surgeries, etc., is also stimulating the market growth. Besides this, the launch of initiatives undertaken by the government of South Korea to spread awareness and promote medical tourism is acting as another significant growth-inducing factor. Furthermore, numerous healthcare organizations and centers are offering comprehensive healthcare travel packages to patients that include all trip-related services from ticket bookings to accommodation and healthcare coverage, which is further propelling the market growth across the country. Apart from this, the emerging trend of integrating wellness practices with long-established Korean medicinal therapies is anticipated to fuel the South Korea medical tourism market over 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

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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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