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ASEAN Medical and Wellness Tourism Market Size

Report ID: GMI11800
Published Date: Oct 2024
Report Format: PDF

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ASEAN Medical and Wellness Tourism Market Size

ASEAN medical and wellness tourism market size was valued at USD 51.5 billion in 2023 and is expected to exhibit growth at a CAGR of 12.7% from 2024 to 2032. High market growth can be attributed to an increasing focus on cost-effectiveness, growing number of accreditations to international hospitals, and rising disposable income.

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Moreover, the government support across ASEAN countries is actively promoting medical and wellness tourism through various policies, infrastructure investments, and partnerships. For example, Malaysia has launched its Malaysia Healthcare Travel Industry Blueprint 2021-2025, aiming to position the country as the Cardiology Hub of Asia. Similarly, Singapore is recognized for its high-end, technologically advanced medical services, particularly in oncology and cardiology, catering to affluent international patients.

ASEAN Medical and Wellness Tourism Market Report Attributes
Report Attribute	Details
Base Year:	2023
ASEAN Medical and Wellness Tourism Market Size in 2023:	USD 51.5 Billion
Forecast Period:	2024 - 2032
Forecast Period 2024 - 2032 CAGR:	12.7%
2032 Value Projection:	USD 172.1 Billion
Historical Data for:	2021 - 2023
No. of Pages:	146
Tables, Charts & Figures:	86
Segments covered:	Category and Country
Growth Drivers:	Low cost of medical treatment in developing countries Growing compliance towards international standard for surgical procedures Various government policies to ease medical travel Growing interest of people toward health and wellness Rising government initiatives to promote wellness tourism Growing preference for eco-friendly and sustainable wellness practices
Pitfalls & Challenges:	High cost of wellness programs Long wait time for certain medical procedures Issue with patient follow-up and post-surgery complications Limited awareness and education for wellness tourism

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Additionally, the growing demand for wellness tourism is boosting the market, as travelers seek holistic treatments, rehabilitation, and traditional therapies alongside medical care. Countries like Indonesia and Thailand are renowned for offering wellness retreats that include spa treatments, yoga, and alternative therapies, blending medical procedures with relaxation and recovery. Furthermore, the region’s geographic proximity to major markets such as China, Australia, and the Middle East contributes to the rising number of medical tourists. ASEAN's strategic location, combined with its appeal as a travel destination, makes it an attractive option for medical and wellness tourists, further driving market expansion.

Medical and wellness tourism involves traveling to a foreign country to seek medical treatments, surgeries, or wellness services such as spa therapies and holistic healing. This type of tourism combines healthcare and leisure, offering patients high-quality, affordable treatments while allowing them to recover in a relaxing and rejuvenating environment.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

The ASEAN medical and wellness tourism industry was valued at USD 51.5 billion in 2023 and is expected to grow at a 12.7% CAGR from 2024 to 2032, driven by a focus on cost-effectiveness and rising disposable incomes.

The wellness tourism segment generated USD 37 billion in 2023, with increasing awareness about health and wellness driving demand for holistic health approaches.

Prominent players include AEK Udon International Hospital, Bumrungrad International Hospital, COMO Hotels and Resorts, Four Seasons Hotels, Gojek, Grab Holdings Ltd., Hilton Worldwide Holdings Inc., IHH Healthcare, InterContinental Group, KPJ Healthcare Berhad, and Mahkota Medical Centre.