IMARC Group, a leading market research company, has recently releases report titled South Korea Medical Tourism Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028. The study provides a detailed analysis of the industry, including the South Korea medical tourism market growth, share, size, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
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.
The growing adoption of medical tourism due to the rising need for high-quality patient care is offering a positive market outlook in South Korea. In line with this, healthcare facilities in the country deliver enhanced services on account of the easy availability of advanced technologies and highly skilled healthcare professionals. Moreover, governing agencies are focusing on ensuring that the latest medical advancements are readily available to patients, which is propelling the growth of the market. Furthermore, these initiatives attract medical tourists seeking high-quality treatment, such as complex surgeries and advanced medical procedures, which is impelling the market growth.
The rising demand for specialized medical expertise among patients is contributing to the growth of the market. In addition, healthcare facilities in South Korea offer specialized medical expertise, particularly in areas like plastic surgery, dermatology, and advanced dental procedures. Apart from this, healthcare professionals undergo specialized training programs to provide enhanced services to people, which is supporting the growth of the market. As a result, South Korea is becoming a preferred destination for individuals seeking aesthetic and enhanced cosmetic medical procedures.
Continuous innovations in the healthcare sector assist in enhancing the overall patient experience, which is bolstering the growth of the market. In addition, advanced imaging techniques, such as magnetic resonance imaging (MRI), computed tomography (CT) scans, and positron emission tomography (PET) scans provide precise and early detection of medical conditions. These technologies enable healthcare professionals to identify and address health issues with enhanced accuracy. Besides this, robotic surgery systems like da Vinci Surgical System, are employed for minimally invasive (MI) surgeries that offer increased precision, smaller incisions, reduced pain, and faster recovery times.
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South Korea Medical Tourism Market Trends and Drivers:
The rising adoption of medical tourism in South Korea, as it offers comprehensive healthcare experiences by combining medical treatments with wellness and spa services, is contributing to the growth of the market. In addition, the integrated approach appeals to patients seeking not only medical solutions but also relaxation and rejuvenation, which is bolstering the market growth.
Many healthcare institutions in South Korea are providing multilingual services to enhance communication and improve the overall experience of patients, which is impelling the growth of the market.
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 region, 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
Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porters 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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