September 14, 2021
According to the research report titled ‘Europe Medical Tourism Market Forecast 2027 By Application, Research Report, Regional Outlook, COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share’, available with Market Study Reports LLC, Europe medical tourism market is projected to exceed a valuation of USD 13 billion by the end of the forecast timeframe.
Low medical treatment cost, availability of high-quality treatment, increasing compliance with international standards for surgeries, and government policies to ease medical travel are the major factors promoting the growth of medical tourism market in Europe.
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Ease and affordability of international travel along with rising awareness among people regarding the affordable cost and availability of advanced treatments in the European region are enhancing the industry outlook.
Further, investments by regional governments to attract medical tourists is enhancing the industry outlook. For instance, the European Commission, in 2019, granted funds for launching its new Adriatic Health Tourism Platform across Montenegro, Croatia, and other Adriatic nations.
Considering application scope, Europe medical tourism industry is fragmented into cosmetic surgery, (breast augmentation, hair transplant, orthopedic surgery, others), cardiovascular surgery, dental surgery fertility treatment, bariatric surgery, oncology treatment, and others.
Experts analysts claim that the industry size from cardiovascular surgery segment was valued USD 548 million in 2020 and will continue to increase steadily through 2027. This can be largely ascribed to increasing accessibility to high-quality medical treatments including minimally invasive procedures, rising number of licensed healthcare facilities, and financial assistance offered by private organizations to heart patients.
As per the geographical analysis, Germany was responsible for over 21% of the regional industry revenue during 2020 and will likely continue to remain a lucrative growth hub in the upcoming years. Stringent regulations, improved healthcare quality, prompt adoption of latest technologies, and widespread availability of healthcare professionals are supporting the industry expansion in the country.
Prominent players in Europe medical tourism industry sphere are Bargman Clinics B.V., Medifrance Solution, France Medical Access, Memorial Hospitals Group, Nuada Medical, The London Orthopaedic Clinic, Clínica Aviñó, Arte·Sano Dental Clinic, International Diagnostic Center Frankfurt, Juventas Revitalization Clinic, Intermed-Consult, University Medical Centre, Bonn Medical Partners, German International Clinic, and Asklepios Kliniken GmbH.