The size of the European medical tourism market is expected to worth USD 17.26 billion by 2027 from USD 7.26 billion in 2022, growing at a CAGR of 18.9% during the forecast period.
There are numerous growth factors for the medical tourism market in Europe such as the availability of conventional medical techniques, growing coherence with and maintaining international quality standards, high-quality service, and mobility of medical insurance and medical tourism marketing.
The Europe medical tourism market is anticipated to witness significant development throughout the forecast period as developing countries are progressively moving towards advancements in technology and quality management in the healthcare and medical sector. It is also anticipated that the innovative developments of healthcare services by different private and government firms is further expected to augment the development of the European medical tourism market.
Many variables such as high treatment costs and conditions of long waiting time for medical practices, technological and innovative advancements, and further market development are propelling the European medical tourism market. Still, the market is hindered by many variables such as strict documentation forms, issues related to visa authorization, and limited scope of protection.
This research report on the European medical tourism market has been segmented and sub-segmented into the following categories:
By Treatment Type:
Geographically, the European medical tourism market is expected to account a significant share in the global market during the forecast period. As per a research published this year by PwC, the consultant, medical tourism is already on the rise in Central and Eastern Europe. And as per the Polish Medical Tourism Association, 488,000 foreign patients travelled to Poland for treatment in the last few years. Europe is majorly segmented geographically into the UK, France, Germany, Russia, Sweden, Czech Republic, Denmark, Italy, Switzerland, and the Rest of Europe. From the west and east, patients come to Central Europe. Some from Germany, the United Kingdom, and the Nordic countries generally choose one-day treatments or stays in medical spas, attracted by affordable prices which can be two to three times low than in their native countries. Germany is anticipated to be the fastest-growing region in Europe during the forecast period.
Every year, nearly 20,000 to 25,000 couples try assisted reproductive technology services abroad. An additional 4.0 per cent of EU citizens in other nations are receiving treatment. In most European nations, fertility treatment practices are restricted. In other central European countries, the development of medical tourism among Poland has been reflected. Hungary also has a reputation for specializing in international dental services, while the Czech Republic has established a cataract surgery industry. Poland is known both for its cosmetic surgeons and for its dentists.
KEY MARKET PLAYERS:
Some of the key market participants operating in the European medical tourism market analysed in this report are Min-Sheng General Hospital, Apollo Hospitals Enterprise Limited, Samitivej Sukhumvit, Fortis Healthcare Ltd., Prince Court Medical Center, Bangkok Hospital Medical Center, Asian Heart Institute KPJ Healthcare Berhad, Raffles Medical Group, and Bumrungrad International Hospital.
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