South Korea Medical Tourism Market Size And Forecast to 2027 | Ajou University Medical Center, Banobagi Plastic Surgery

The latest research study “South Korea Medical Tourism Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027” by IMARC Group, finds that the South Korea medical tourism market is expected to exhibit a CAGR of XX% during 2022-2027.

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Industry Definition and Application:

Medical tourism refers to traveling across international borders to receive certain modern medical therapy. These treatments include ophthalmic, face, and neck lifts, surgical and non-surgical rhinoplasty, cardiovascular, total body lift with body contouring, orthopedic services, stem-cell transplants, liposuction, breast surgery, arthritis, knee, hip, and ankle joint, cervical and lumbar spine, neurosurgery, and spine surgery. Some general considerations undertaken while selecting the location include the availability of advanced healthcare facilities, treatment costs, skilled medical personnel, and distance. As a result, medical tourism is gaining immense traction among individuals.

South Korea Medical Tourism Market

South Korea Medical Tourism Market Trends and Drivers: 

The market is primarily driven by the significant expansion of the healthcare sector due to the availability of highly trained practitioners, state-of-the-art healthcare facilities, and cost-effective treatments. In addition, the growing prevalence of chronic diseases is contributing to market growth. Moreover, numerous initiatives undertaken by the government of South Korea to generate awareness and promote medical tourism represent another major growth-inducing factor. For instance, the Ministry of Health and Welfare (MOHW) took the initiative to improve the safety of international patients through the integration of compulsory registration of medical establishments catering to foreign patients and mandatory medical malpractice liability insurance. Furthermore, the widespread adoption of elective medical procedures, such as cosmetic surgeries, gender reassignment surgeries, dental reconstruction, reproductive therapy, and fertility treatments, are also creating a positive market outlook across the country.

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Report Segmentation: 

The report has been segmented the market into following categories:

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 Major Key Players:

The major players in the market are Korea Medical Hub, Nasaret International Hospital, Sun Medical Center, Ajou University Medical Center, Banobagi Plastic Surgery, CHA Fertility Center, Injeuniversity Haeundae Hospital, JK Plastic Surgery Center, Keimyung University Dongsan Hospital and Wonkwang University Hospital.

About Us:

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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