South Korea Inbound Medical Tourism Market Overview, 2028

South Korea Inbound Medical Tourism Market Overview, 2028
With a reputation for excellence in medical care and a growing focus on providing an all-encompassing healthcare experience, South Korea stands as a frontrunner in the global medical tourism landscape. A nation renowned for its advanced cosmetic and plastic surgery, South Korea has expanded its healthcare offerings to encompass a comprehensive array of medical procedures, wellness therapies, and holistic treatments. As international travelers seek world-class healthcare services coupled with an enriching cultural experience, South Korea emerges as a compelling destination, promising not only physical transformation but also a journey of discovery and rejuvenation. This article delves into the captivating realm of South Korea's inbound medical tourism industry, unveiling the factors that contribute to its rise, the diverse range of medical treatments available, and the immersive experiences that await those who embark on this transformative healthcare odyssey. South Korea's reputation as a global cosmetic and plastic surgery hub is well-deserved, drawing patients from around the world in pursuit of aesthetic enhancements that seamlessly blend artistry with medical expertise. From subtle alterations to dramatic transformations, the country's board-certified plastic surgeons and dermatologists offer a level of precision and innovation that sets new benchmarks in the field. However, South Korea's medical tourism tapestry extends far beyond cosmetic procedures. The country's medical facilities cater to a spectrum of specialties, including orthopedics, ophthalmology, dermatology, dentistry, fertility treatments, and wellness therapies that fuse traditional Korean practices with modern medical advancements.

According to the research report ""South Korea Inbound Medical Tourism Market Overview, 2028,"" published by Bonafide Research, the South Korea Inbound Medical Tourism Market is expected to grow at more than 22% CAGR rate from 2023 to 2028. South Korea boasts a sophisticated and modern healthcare infrastructure, characterized by state-of-the-art medical facilities, cutting-edge technology, and well-equipped hospitals. This advanced infrastructure ensures that international patients have access to high-quality medical care and a range of specialized treatments. Central to South Korea's ascendancy in the medical tourism arena is its roster of expert medical professionals who embody a commitment to excellence and continuous innovation. Renowned for their skill and specialization, these practitioners leverage cutting-edge technology and pioneering techniques to deliver outcomes that inspire confidence and trust. International patients benefit not only from the proficiency of these medical pioneers but also from a supportive ecosystem that includes multilingual services, personalized treatment plans, and attentive post-operative care. South Korea's medical tourism market is expanding beyond cosmetic and plastic surgery to encompass a broader range of medical specialties such as dermatology, ophthalmology, dentistry, fertility treatments, and wellness therapies. This diversification caters to a wider array of medical tourists seeking various treatments and procedures. The integration of wellness services, traditional Korean healing practices, and holistic therapies is a growing trend. Medical tourists are increasingly seeking a comprehensive experience that combines medical treatments with relaxation, rejuvenation, and cultural immersion.

Based on the service provider includes the public and private, among them the Public service provider will grow at the highest cagr rate in future, the South Korean government has been actively promoting medical tourism as part of its economic development strategy. Public health service providers align with these initiatives and receive support in terms of infrastructure development, regulatory streamlining, and marketing efforts. Public health service providers emphasize inclusivity and accessibility, catering to a diverse range of patients with varying medical needs. This approach aligns with the ethos of medical tourism, which often involves providing care to individuals from different socio-economic backgrounds and countries. Furthermore, Public hospitals and healthcare facilities often have the capacity to accommodate a larger number of patients. This capacity expansion aligns with the growing demand for medical tourism and ensures that a diverse range of patients can access their services. Public health service providers in South Korea that are known to cater to inbound medical tourism includes, Seoul National University Hospital (SNUH), Asan Medical Center, Samsung Medical Center and many more.

Based on the treatment segment includes the Cancer Treatment / Oncology, Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Bariatric Treatment, Orthopaedics Treatment / Spine Treatment, Fertility Treatment / IVF Treatments, Organ Transplant, Ophthalmology Treatment, Neurological Treatment, Alternative Treatment and Other. In South Korea the Dental treatment is having the second highest market share; South Korea is renowned for providing high-quality dental services that adhere to international standards. Skilled dentists and advanced dental technology contribute to successful outcomes and patient satisfaction. South Korean dental clinics and hospitals are equipped with state-of-the-art technology, including digital imaging, laser dentistry, and CAD/CAM systems, offering modern and efficient dental treatments. Furthermore, South Korea offers a comprehensive range of dental treatments, including routine dental care, cosmetic dentistry (veneers, teeth whitening, etc.), orthodontics (braces, clear aligners), restorative dentistry (crowns, bridges), and oral surgery. 3D printing is revolutionizing dental prosthetics and appliances. South Korean dental laboratories are using 3D printing technology to create dentures, orthodontic appliances, and surgical guides with exceptional precision, customization, and speed.

Start-ups:

• DocDoc is a healthtech startup that connects patients with medical specialists and clinics in South Korea and other countries. The platform allows patients to search for doctors, compare prices, and book appointments for medical treatments, including dental care, cosmetic surgery, and more.

• CareMaster is a medical tourism agency that provides personalized services to international patients seeking medical treatments in South Korea. They assist with travel arrangements, accommodation, translation services, and appointment scheduling, ensuring a seamless and comfortable experience for patients.

• MedTourEasy is an online platform that connects medical tourists with accredited hospitals and clinics in South Korea. The platform offers information about various medical procedures, costs, and patient reviews, helping individuals make informed decisions about their healthcare options.

Considered in this report

• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report

• South Korea Inbound Medical Tourism market with its value and forecast along with its segments
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Treatment Type

• Cancer Treatment / Oncology
• Cosmetic Treatment
• Orthopedics Treatment / Spine Treatment
• Cardiovascular Treatment
• Fertility Treatment / IVF Treatments
• Neurological Treatment
• Organ Transplant
• Bariatric Treatment
• Dental Treatment
• Alternative Treatment (Acupuncture, Ayurveda, Homeopathy, Naturopathy, Chinese or Oriental medicine, Chiropractic and osteopathic medicine, Massage, Body movement therapies, Tai chi, Yoga, Dietary supplements, Herbal medicine, Nutrition/diet, Electromagnetic therapy, Reiki, Qigong, Meditation, Biofeedback, Hypnosis, Art, dance, and music, Visualization and guided imagery, etc.)
• Ophthalmology Treatment
• Other Treatments (Dermatological treatments, ENT (Ear, Nose, and Throat) treatments, Allergy and Immunology treatments, Sleep disorder treatments, Mental health and psychological treatments, Urology, diabetology, Proctology, Vascular Surgery, etc.)

By Service Providers

• Private
• Public

The approach of the report:

This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience

This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to Inbound Medical Tourism industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.