IMARC Group has recently released a new research study titled “South Korea Medical Tourism Market Report by Type (Outbound, Inbound, Intrabound), Treatment Type (Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopaedic Treatment, Bariatric Surgery, Fertility Treatment, Ophthalmic Treatment, and Others) 2025-2033”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
Market Overview
The South Korea medical tourism market share reached a value of USD 2.0 Billion in 2024. It is anticipated to grow at a CAGR of 4.93% during the forecast period 2025-2033, reaching USD 3.1 Billion by 2033. Medical tourism involves traveling across international borders to receive various treatments such as cosmetic, dental, cardiovascular, orthopedic, and more. The market growth is supported by advanced healthcare facilities, skilled personnel, and cost-effective treatments. South Korea Medical Tourism Market
Study Assumption Years
Base Year: 2024
Historical Year/Period: 2019-2024
Forecast Year/Period: 2025-2033
South Korea Medical Tourism Market Key Takeaways
Current Market Size: USD 2.0 Billion in 2024
CAGR: 4.93%
Forecast Period: 2025-2033
The market benefits from growing inbound medical travel due to state-of-the-art healthcare facilities and highly-trained practitioners.
Increasing adoption of elective medical procedures not covered by insurance, such as fertility treatments and cosmetic surgeries, is driving growth.
Government initiatives, including mandatory registration of medical institutions serving foreign patients and compulsory malpractice insurance, support market expansion.
Healthcare providers offer comprehensive medical tourism packages covering travel, accommodation, and treatments.
The trend of combining wellness practices with traditional Korean medicinal therapies is emerging and expected to fuel future growth.
Sample Request Link: https://www.imarcgroup.com/south-korea-medical-tourism-market/requestsample
Market Growth Factors
The South Korea medical tourism market is primarily driven by the growing inbound medical travel. This is attributed to the availability of state-of-the-art healthcare facilities, highly-trained medical practitioners, and cost-effective treatments. These factors combine to attract international patients seeking high-quality medical care at competitive prices, boosting the market significantly.
Moreover, there is an increasing adoption of elective medical procedures that are typically not covered by medical insurance. These include fertility treatments, gender reassignment surgeries, reproductive therapy, dental reconstruction, and cosmetic surgeries. This surge in elective procedures contributes considerably to the expanding market demand.
Further catalyzing market growth are government-led initiatives promoting medical tourism. The Ministry of Health and Welfare (MOHW) in South Korea enhanced patient safety by making it mandatory for medical institutions serving foreign patients to register and acquire medical malpractice liability insurance. Additionally, healthcare organizations offer comprehensive medical tourism packages encompassing travel arrangements, accommodation, and healthcare coverage. This integrated service offering fosters a positive market outlook.
Market Segmentation
Breakup by Type:
Outbound
Inbound
Intrabound
Each segment represents distinct medical travel patterns, covering South Korean patients traveling abroad (Outbound), foreign patients visiting South Korea (Inbound), and domestic patients traveling within South Korea (Intrabound).
Breakup by Treatment Type:
Cosmetic Treatment
Dental Treatment
Cardiovascular Treatment
Orthopaedic Treatment
Bariatric Surgery
Fertility Treatment
Ophthalmic Treatment
Others
The treatment types encompass a broad spectrum of medical care, ranging from elective cosmetic and dental services to complex surgical and fertility treatments.
Regional Insights
Not provided in source.
Key Players
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
Wonkwang University Hospital
Recent Developments & News
Not provided in source.
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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