Mapping the market for medical travel

Medical travel has captured the world’s attention and imagination, but a new McKinsey study suggests that the market isn’t as large as reported and that most medical travelers seek high quality and faster service instead of lower costs.
McKinsey places the current market at 60,000 to 85,000 inpatients a year, but these numbers could grow substantially if certain barriers, such as noncoverage from payers, were removed. Payers and providers looking to benefit from this nascent market have a substantial opportunity.

Exhibit 1: Only a fraction of today’s international inpatients are medical travelers.
Exhibit 2: The two largest segments of medical travelers seek higher-quality care.
Exhibit 3: Medical travel is a global phenomenon.
Exhibit 4: The potential US market if payers cover medical travel is in the range of hundreds of thousands of patients
Exhibit 5: Geopolitical events can influence a patient’s willingness to travel to certain countries.
Exhibit 6: Successful providers can provide treatment costs compatible with their perceived value.