Market Size of Europe Medical Tourism Industry
Study Period | 2019 - 2029 |
Base Year For Estimation | 2023 |
Market Size (2024) | USD 15.80 Billion |
Market Size (2029) | USD 35.87 Billion |
CAGR (2024 - 2029) | 17.82 % |
Market Concentration | Low |
Major Players*Disclaimer: Major Players sorted in no particular order |
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Europe Medical Tourism Market Analysis
The Europe Medical Tourism Market size is estimated at USD 15.80 billion in 2024, and is expected to reach USD 35.87 billion by 2029, growing at a CAGR of 17.82% during the forecast period (2024-2029).
The European medical tourism market is anticipated to grow with rising awareness about medical tourism and government initiatives, as well as the presence of advanced medical infrastructure and medical care services. The medical infrastructure of European healthcare facilities provides a wide range of treatment and management for various chronic diseases. The advanced infrastructure, skilled medical professionals, and cost-effective treatment are expected to boost the number of medical tourists visiting the region. For instance, as per the data published by the United Nations Tourism in 2023, Europe received 54.5% of all international tourist arrivals in 2023. The continent welcomed 700.4 million foreign travelers, and Southern/Mediterranean Europe attracted the most international tourists, with 307.4 million arrivals in 2023. Thus, growing medical tourism in Europe is expected to boost the market during the forecast period.
Further, according to the World Travel and Tourism Council data published in January 2024, France is the third top destination for medical tourism in Europe, with a global ranking at the 11th position. France is highly rated in the Destination Environment and Medical Tourism Industry categories. It receives a significant number of medical tourists, primarily from the European Union, seeking cosmetic, bariatric, and oncology, among other treatments. France offers substantial cost savings compared to the United States for complex procedures, with potential savings of up to 70% for orthopedic procedures. Thus, cost benefits and advanced healthcare infrastructure in European countries attract tourism in the region, boosting market growth.
Furthermore, the recent developments by the service providers are expected to increase medical tourism in the region, which is likely to boost the market’s growth in the region. For instance, in January 2022, Mastercard established a new Tourism Innovation Hub in support of the Spanish government. This hub, located in Madrid, aims to foster innovation, research, and collaboration to create solutions for a sustainable and inclusive recovery in global tourism.
Therefore, owing to factors such as increasing advancements in the healthcare infrastructure and the quality of services, the market studied is anticipated to witness growth during the forecast period. However, the challenges associated with medical tourist visas and cost constraints are likely to impede market growth.
Europe Medical Tourism Industry Segmentation
As per the scope of the report, medical tourism refers to individuals traveling to different countries to receive medical treatment. The European medical tourism market is segmented by treatment and geography. By treatment, the market is segmented into neurology, aesthetics, dental, cardiovascular, orthopedic, cancer, and others. By geography, the market is segmented into Germany, the United Kingdom, France, Italy, Spain, and Rest of Europe. The report offers the value (USD) for all the above segments.
By Treatment | |
Neurology | |
Aesthetics | |
Dental | |
Cardiovascular | |
Orthopedic | |
Cancer | |
Other Treatments |
By Geography | |
Germany | |
United Kingdom | |
France | |
Italy | |
Spain | |
Rest of Europe |
Europe Medical Tourism Market Size Summary
The European medical tourism market is poised for substantial growth, driven by factors such as advanced medical infrastructure, skilled healthcare professionals, and cost-effective treatment options. The region's healthcare facilities offer a wide range of treatments for chronic diseases, attracting a significant number of medical tourists. Countries like France, Germany, and Spain are particularly popular due to their high-quality medical care and substantial cost savings compared to other regions, such as the United States. The presence of renowned hospitals and the ability to offer complex procedures at lower costs are key attractions for international patients. Additionally, government initiatives and increasing awareness about medical tourism further bolster the market's expansion.
The demand for cosmetic procedures is a significant driver of growth within the European medical tourism sector. Patients from around the world are increasingly seeking cosmetic treatments in Europe, drawn by the region's cutting-edge technology and privacy offerings. The high volume of cosmetic procedures, such as breast augmentations, underscores the region's appeal for such treatments. Germany, in particular, is expected to see significant growth due to its advanced medical infrastructure and the availability of a wide spectrum of medical services. The fragmented nature of the market, with numerous service providers and collaborations with world-class hospitals, further supports the market's expansion. Recent developments, such as strategic partnerships and technological advancements, are anticipated to enhance the region's attractiveness as a medical tourism destination.
Europe Medical Tourism Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.2.1 Rising Burden of Chronic Diseases
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1.2.2 Rising Awareness about Medical Tourism and Government Initiatives
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1.2.3 Advanced Medical Infrastructure and Medical Care Services
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1.3 Market Restraints
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1.3.1 Challenges Associated with Medical Tourist Visa and Cost Constraints
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1.4 Porter's Five Force Analysis
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1.4.1 Threat of New Entrants
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Bargaining Power of Suppliers
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1.4.4 Threat of Substitute Products
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION (Market Size by Value - USD)
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2.1 By Treatment
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2.1.1 Neurology
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2.1.2 Aesthetics
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2.1.3 Dental
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2.1.4 Cardiovascular
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2.1.5 Orthopedic
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2.1.6 Cancer
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2.1.7 Other Treatments
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2.2 By Geography
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2.2.1 Germany
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2.2.2 United Kingdom
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2.2.3 France
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2.2.4 Italy
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2.2.5 Spain
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2.2.6 Rest of Europe
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Europe Medical Tourism Market Size FAQs
How big is the Europe Medical Tourism Market?
The Europe Medical Tourism Market size is expected to reach USD 15.80 billion in 2024 and grow at a CAGR of 17.82% to reach USD 35.87 billion by 2029.
What is the current Europe Medical Tourism Market size?
In 2024, the Europe Medical Tourism Market size is expected to reach USD 15.80 billion.