South Korea Medical Tourism Market: Forecast and Industry Growth 2022-2027

South Korea Medical Tourism Market

The latest research study by IMARC Group, “South Korea Medical Tourism Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” offers a comprehensive analysis of the industry, which comprises insights on South Korea medical tourism market size. The South Korea medical tourism market is expected to exhibit a CAGR of XX% during 2022-2027.

South Korea Medical Tourism Industry Outlook:

Medical tourism includes traveling across international borders to avail of certain medical treatments, mainly modern medical therapy. These treatments include ophthalmic, dental, surgical, and non-surgical rhinoplasty, cardiovascular, orthopedic services, stem-cell transplants, stem cell, total body lift with body contouring, liposuction, breast surgery, face, and neck lift (rhytidectomy), arthritis, knee, hip, and ankle joint, cervical and lumbar spine, neurosurgery, and spine surgery. Some primary considerations undertaken while selecting the location include the availability of skilled medical personnel, advanced healthcare facilities, treatment costs, and distance. Medical tourism also enhances the quality of life, offers several economic benefits, exchanges knowledge, generates healthcare jobs, and increases foreign revenues.

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Market Trends:

The market is primarily driven by the expanding healthcare industry and increasing inbound medical travel across South Korea. This can be attributed to the availability of highly trained practitioners, cost-effective treatments, and state-of-the-art healthcare facilities. In addition, the rising prevalence of chronic disease and the availability of advanced medical technologies, coupled with the support and assistance offered by the tourism industry and the government, represent another major growth-inducing factor.

Moreover, various initiatives undertaken by the government of South Korea to create awareness and promote medical tourism are also providing a thrust to market growth. For instance, the Ministry of Health and Welfare (MOHW) enhanced the safety of international patients by launching mandatory registration of medical institutions serving foreign patients and compulsory medical malpractice liability insurance.

Besides this, the widespread adoption of elective medical procedures, including gender reassignment surgeries, reproductive therapy, dental reconstruction, cosmetic surgeries, and fertility treatments, is also creating a positive market outlook across the region. Furthermore, the emerging trend of combining wellness practices with traditional Korean medicinal therapies is anticipated to propel the market growth in the coming years.

Key Market Segmentation:

The report has segmented the South Korea medical tourism market on the basis of type, treatment type and region.

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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List of Key Companies Covered in this Market Report:

The major players in the market 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.

Note: We are updating our reports, if you want the report with the latest primary and secondary data (2022-2027) including industry trends, market size and competitive landscape, etc. click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours.

About IMARC Group:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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