Thailand Medical Tourism Market Introduction and Overview
According to SPER Market Research, the Thailand Medical Tourism Market is estimated to reach USD 57.49 Billion by 2033 with a CAGR of 16.1%.
The report includes an in-depth analysis of the Thailand Medical Tourism Market, including market size and trends, product mix, applications, and supplier analysis. Medical tourism is the act of travelling to another country for medical treatment, usually in search of specialised procedures, financial savings, or access to sophisticated healthcare facilities that are not available in one's native country. In Thailand, medical tourism covers a wide range of treatments, including cosmetic surgery, dental procedures, reproductive treatments, orthopaedics, cardiology, and more.
- In February 2024, Thailand introduced a medical coverage system. This promotion offers $ 14,000 to international tourists in the event of an accident and more than one million baht in the event of death, all in good faith to boost trust in travel safety.
- In December 2022, the Public Health Ministry introduced the "Health for Wealth" strategy to encourage medical tourism. This project aims to improve the country's economic situation.
- In November 2022, the Cabinet approved a 90-day stay for persons receiving medical care. Furthermore, Thailand has announced that it will issue one-year visas to medical tourists as it markets itself as a global hub for healthcare tourism.
Market Opportunities and Challenges
Thailand's medical tourism business has expanded dramatically over the last decade, thanks to the country's excellent healthcare infrastructure, recognised medical specialists, and appealing tourist attractions. The market has evolved into a global hub for individuals seeking low-cost, high-quality medical operations. Opportunities abound in Thailand's medical tourism business. A significant increase in demand for cosmetic surgery such as facelifts, breast augmentations, and liposuction presents profitable opportunities for aesthetic treatment providers. Furthermore, the expanding global ageing population creates a greater demand for specialised geriatric care, placing Thailand as a viable destination for senior healthcare and retirement services. Embracing technical breakthroughs such as telemedicine, robotics, and artificial intelligence provides another opportunity for Thailand to grow its medical tourism industry. These advancements can enable remote consultations, improve surgical precision, and speed up recuperation times, boosting Thailand's allure as a renowned healthcare destination.
Thailand's medical tourism business faces ongoing challenges. Despite the ubiquitous use of English at major hospitals, language and cultural differences may still limit successful communication, necessitating increased cultural sensitivity and communication methods. Furthermore, individuals seeking medical treatment overseas may face lengthy travel and recovery times, particularly for complex procedures, which provide logistical and time-related obstacles. Furthermore, the variety in insurance coverage for medical tourists might limit access and affordability to specific procedures, especially for people from locations with restricted coverage alternatives. To maintain Thailand's medical tourism sector's long-term growth and competitiveness, comprehensive policies must be developed to reduce language and cultural barriers, streamline travel and recovery processes, and expand insurance coverage alternatives.
Market Competitive Landscape
The Thai Medical Tourism market is competitive, with a mix of local and international healthcare providers. Renowned hospitals, medical centres, and wellness retreats compete for market share by providing specialised treatments, low prices, personalised care, and exceptional patient experiences. Long-term success in this competitive industry requires maintaining high quality standards, implementing innovative methods, and developing strong patient connections. The major key players in the Thailand Medical Tourism Market are: Asia Cosmetic Getaways, Bookimed Limited, Health-Tourism.com, Jet Medical Tourism, Lotus Medical International, Lyfboat Technologies Pvt Ltd, Med Tourism Co, LLC, MedEx Ventures Co. Ltd, Medical Electronic Devices and Services Inc, My Body & Spirit, Smile Planners, Thai Medical Vacation, World Medical and Surgical LLC, Others.
Scope of the Report:
| Report Metric | Details |
| Market size available for years | 2020-2033 |
| Base year considered | 2023 |
| Forecast period | 2024-2033 |
| Segments covered | By Treatment Type, By Services, By Tourist Type, By Tour Type, By Booking Channel
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| Regions covered | Central Thailand, Eastern Thailand, North-eastern Thailand, Northern Thailand, Southern Thailand, Western Thailand
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| Companies Covered | Asia Cosmetic Getaways, Bookimed Limited, Health-Tourism.com, Jet Medical Tourism, Lotus Medical International, Lyfboat Technologies Pvt Ltd, Med Tourism Co, LLC, MedEx Ventures Co. Ltd, Medical Electronic Devices and Services Inc, My Body & Spirit, Smile Planners, Thai Medical Vacation, World Medical and Surgical LLC, Others
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COVID-19 Impact on Thailand Medical Tourism Market
The COVID-19 pandemic had a huge impact on the global medical tourism business, which includes Thailand. Travel restrictions, lockdowns, and health concerns caused a short decrease in medical tourism activity. However, Thailand's effective pandemic management, strict safety measures, and vaccine rollout have restored confidence in international patients, progressively revitalising the market.
Key Target Audience
- Patients
- Healthcare Providers and Hospitals
- Government Bodies and Policymakers
- Medical Tourism Facilitators and Travel Agencies
- Insurance Companies
- Pharmaceutical Companies
- Investors
- Research Institutions
- Marketing and Advertising Agencies
- Others
Our in-depth analysis of the Thailand Medical Tourism Market includes the following segments:
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By Treatment Type:
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Cancer Treatment
Cardiovascular Treatment
Cosmetic Treatment
Dental Treatment
Fertility Treatment
Neurological Treatment
Orthopedic Treatment
Others
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By Services:
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Therapeutic Services
Wellness Services
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By Tourist Type:
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Domestic
International
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By Tour Type:
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Independent Traveller
International
Package Traveller
Tour Group
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By Booking Channel:
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In-Person Booking
Online Booking
Phone Booking
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Key Topics Covered in the Report
- Thailand Medical Tourism Market Size (FY’2024-FY’2033)
- Overview of Thailand Medical Tourism Market
- Segmentation of Thailand Medical Tourism Market By Treatment Type (Cancer Treatment, Cardiovascular Treatment, Cosmetic Treatment, Dental Treatment, Fertility Treatment, Neurological Treatment, Orthopedic Treatment, Others)
- Segmentation of Thailand Medical Tourism Market By Services (Therapeutic Services, Wellness Services)
- Segmentation of Thailand Medical Tourism Market By Tourist Type (Domestic, International)
- Segmentation of Thailand Medical Tourism Market By Tour Type (Independent Traveller, International, Package Traveller, Tour Group)
- Segmentation of Thailand Medical Tourism Market By Booking Channel (In-Person Booking, Online Booking, Phone Booking)
- Statistical Snap of Thailand Medical Tourism Market
- Expansion Analysis of Thailand Medical Tourism Market
- Problems and Obstacles in Thailand Medical Tourism Market
- Competitive Landscape in the Thailand Medical Tourism Market
- Impact of COVID-19 and Demonetization on Thailand Medical Tourism Market
- Details on Current Investment in Thailand Medical Tourism Market
- Competitive Analysis of Thailand Medical Tourism Market
- Prominent Players in the Thailand Medical Tourism Market
- SWOT Analysis of Thailand Medical Tourism Market
- Thailand Medical Tourism Market Future Outlook and Projections (FY’2024-FY’2033)
- Recommendations from Analyst
1. Introduction
1.1. Scope of the report
1.2. Market segment analysis
2. Research Methodology
2.1. Research data source
2.1.1. Secondary Data
2.1.2. Primary Data
2.1.3. SPER’s internal database
2.1.4. Premium insight from KOL’s
2.2. Market size estimation
2.2.1. Top-down and Bottom-up approach
2.3. Data triangulation
3. Executive Summary
4. Market Dynamics
4.1. Driver, Restraint, Opportunity and Challenges analysis
4.1.1. Drivers
4.1.2. Restraints
4.1.3. Opportunities
4.1.4. Challenges
4.2. COVID-19 Impacts of the Thailand Medical Tourism Market
5. Market variable and outlook
5.1. SWOT Analysis
5.1.1. Strengths
5.1.2. Weaknesses
5.1.3. Opportunities
5.1.4. Threats
5.2. PESTEL Analysis
5.2.1. Political Landscape
5.2.2. Economic Landscape
5.2.3. Social Landscape
5.2.4. Technological Landscape
5.2.5. Environmental Landscape
5.2.6. Legal Landscape
5.3. PORTER’s Five Forces
5.3.1. Bargaining power of suppliers
5.3.2. Bargaining power of buyers
5.3.3. Threat of Substitute
5.3.4. Threat of new entrant
5.3.5. Competitive rivalry
5.4. Heat Map Analysis
6. Competitive Landscape
6.1. Thailand Medical Tourism Market Manufacturing Base Distribution, Sales Area, Product Type
6.2. Mergers & Acquisitions, Partnerships, Product Launch, and Collaboration in Thailand Medical Tourism Market
7. Thailand Medical Tourism Market, By Treatment Type (USD Million)
7.1. Thailand Medical Tourism Market Value Share and Forecast, By Treatment Type, 2024-2033
7.2. Cancer Treatment
7.3. Cardiovascular Treatment
7.4. Cosmetic Treatment
7.5. Dental Treatment
7.6. Fertility Treatment
7.7. Neurological Treatment
7.8. Orthopedic Treatment
7.9. Others
8. Thailand Medical Tourism Market, By Services (USD Million)
8.1. Thailand Medical Tourism Market Value Share and Forecast, By Services, 2024-2033
8.2. Therapeutic Services
8.3. Wellness Services
9. Thailand Medical Tourism Market, By Tourist Type (USD Million)
9.1. Thailand Medical Tourism Market Value Share and Forecast, By Tourist Type, 2024-2033
9.2. Domestic
9.3. International
10. Thailand Medical Tourism Market, By Tour Type (USD Million)
10.1. Thailand Medical Tourism Market Value Share and Forecast, By Tour Type, 2024-2033
10.2. Independent Traveller
10.3. International
10.4. Package Traveller
10.5. Tour Group
11. Thailand Medical Tourism Market, By Booking Channel (USD Million)
11.1. Thailand Medical Tourism Market Value Share and Forecast, By Booking Channel, 2024-2033
11.2. In-Person Booking
11.3. Online Booking
11.4. Phone Booking
12. Thailand Medical Tourism Market Forecast, 2020-2033 (USD Million)
12.1. Thailand Medical Tourism Market Size and Market Share
13. Thailand Medical Tourism Market, By Treatment Type, 2020-2033 (USD Million)
13.1. Thailand Medical Tourism Market Size and Market Share By Treatment Type (2020-2026)
13.2. Thailand Medical Tourism Market Size and Market Share By Treatment Type (2027-2033)
14. Thailand Medical Tourism Market, By Services, 2020-2033 (USD Million)
14.1. Thailand Medical Tourism Market Size and Market Share By Services (2020-2026)
14.2. Thailand Medical Tourism Market Size and Market Share By Services (2027-2033)
15. Thailand Medical Tourism Market, By Tourist Type, 2020-2033 (USD Million)
15.1. Thailand Medical Tourism Market Size and Market Share By Tourist Type (2020-2026)
15.2. Thailand Medical Tourism Market Size and Market Share By Tourist Type (2027-2033)
16. Thailand Medical Tourism Market, By Tour Type, 2020-2033 (USD Million)
16.1. Thailand Medical Tourism Market Size and Market Share By Tour Type (2020-2026)
16.2. Thailand Medical Tourism Market Size and Market Share By Tour Type (2027-2033)
17. Thailand Medical Tourism Market, By Booking Channel, 2020-2033 (USD Million)
17.1. Thailand Medical Tourism Market Size and Market Share By Booking Channel (2020-2026)
17.2. Thailand Medical Tourism Market Size and Market Share By Booking Channel (2027-2033)
18. Thailand Medical Tourism Market, By Region, 2020-2033 (USD Million)
18.1. Thailand Medical Tourism Market Size and Market Share By Region (2020-2026)
18.2. Thailand Medical Tourism Market Size and Market Share By Region (2027-2033)
18.3. Central Thailand
18.4. Eastern Thailand
18.5. North-eastern Thailand
18.6. Northern Thailand
18.7. Southern Thailand
18.8. Western Thailand
19. Company Profile
19.1. Asia Cosmetic Getaways
19.1.1. Company details
19.1.2. Financial outlook
19.1.3. Product summary
19.1.4. Recent developments
19.2. Bookimed Limited
19.2.1. Company details
19.2.2. Financial outlook
19.2.3. Product summary
19.2.4. Recent developments
19.3. Health-Tourism.com
19.3.1. Company details
19.3.2. Financial outlook
19.3.3. Product summary
19.3.4. Recent developments
19.4. Jet Medical Tourism
19.4.1. Company details
19.4.2. Financial outlook
19.4.3. Product summary
19.4.4. Recent developments
19.5. Lotus Medical International
19.5.1. Company details
19.5.2. Financial outlook
19.5.3. Product summary
19.5.4. Recent developments
19.6. Lyfboat Technologies Pvt Ltd
19.6.1. Company details
19.6.2. Financial outlook
19.6.3. Product summary
19.6.4. Recent developments
19.7. Med Tourism Co, LLC
19.7.1. Company details
19.7.2. Financial outlook
19.7.3. Product summary
19.7.4. Recent developments
19.8. MedEx Ventures Co. Ltd
19.8.1. Company details
19.8.2. Financial outlook
19.8.3. Product summary
19.8.4. Recent developments
19.9. Medical Electronic Devices and Services Inc
19.9.1. Company details
19.9.2. Financial outlook
19.9.3. Product summary
19.9.4. Recent developments
19.10. My Body & Spirit
19.10.1. Company details
19.10.2. Financial outlook
19.10.3. Product summary
19.10.4. Recent developments
19.11. Smile Planners
19.11.1. Company details
19.11.2. Financial outlook
19.11.3. Product summary
19.11.4. Recent developments
19.12. Thai Medical Vacation
19.12.1. Company details
19.12.2. Financial outlook
19.12.3. Product summary
19.12.4. Recent developments
19.13. World Medical and Surgical LLC
19.13.1. Company details
19.13.2. Financial outlook
19.13.3. Product summary
19.13.4. Recent developments
19.14. Others
20. List of Abbreviations
21. Reference Links
22. Conclusion
23. Research Scope