Market Trends of Europe Medical Tourism Industry
The Cosmetic Treatment Segment is Expected to Witness Significant Growth During the Forecast Period
- The demand for these treatments has been on the rise as patients are now incorporating them into their medical tourism itineraries. They are particularly attracted to European countries like Germany, Switzerland, and Spain, which are renowned for their advanced medical procedures, highly skilled healthcare professionals, and cutting-edge medical technology.
- The segment is anticipated to grow during the forecast period owing to the increased patient spending on cosmetic procedures and willingness to travel for a cosmetic procedure to get quality service. The cosmetic treatments sector is poised for continued expansion as patients seek privacy, cutting-edge technology, and the most recent innovations in plastic surgery, dermatology, and other aesthetic procedures available in European medical tourism destinations.
- A growing number of cosmetic procedures is one of the key factors responsible for the segment growth. For instance, as per the data published by the International Society of Aesthetic Plastic Surgery (ISAPS) in 2022, the volume of cosmetic procedures increased to 262 thousand and 884 thousand surgical and nonsurgical cosmetic procedures in Italy, an increase of 6.8% and 2.6%, respectively, compared to the previous year. The same source also stated that over 42 thousand breast augmentation procedures were performed in Italy in 2022, which showed an increase from 41 thousand in the previous year. Such a high volume of cosmetic procedures reflects the demand for cosmetic medical treatments by patients in Europe from other countries and regions. These factors are likely to boost the growth of the segment during the forecast period.
- Furthermore, the research studies published by European researchers have underlined the high demand for cosmetic procedures in Europe by patients across the globe. For instance, a study published by Plastic and Reconstructive Surgery in January 2023 stated that over 207,189 breast implants were registered in France by patients from other countries. Thus, Europe is anticipated to boost the growth of the segment in the coming years due to the demand for such a vast volume of cosmetic procedures for patients from other regions.
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Germany is Expected to Witness Significant Growth Over the Forecast Period
- Germany is expected to witness significant growth during the forecast period owing to the advanced medical infrastructure and high-quality medical care and treatment for a wide spectrum of diseases. Germany is known for being the gateway to various attractive places in Europe, offering wellness packages, weight-loss procedures, fertility treatments, and dental surgeries. Renowned hospitals in Germany include the Clinic of the University of Munich and Charite University Hospital in Berlin.
- The growing medical tourism in Germany every year is expected to contribute to market growth. For instance, according to the Visit World data published in June 2023, each year, Germany's hospitals provide medical care to approximately 250,000 international patients. The nation's medical tourism industry generates over EUR 1.2 billion (USD 1.30 billion) annually. The majority of medical tourists visiting Germany originate from Russia, Romania, France, Bulgaria, the United Arab Emirates, Saudi Arabia, and Kuwait. Thus, growing tourism in the country is expected to contribute to the growth of the market during the forecast period.
- Furthermore, as per the data published by Premier Healthcare Germany GmbH in October 2022, Germany's high quality of care, strict ethical standards, and quick access to medical specialists make it a desirable destination for medical tourism. The same source further mentioned that medical care in Germany has an affordable cost-to-quality ratio, and the expense of medical care is significantly lower than in the United States.
- Also, the recent developments by the market players are expected to increase medical tourism in Germany, which will bolster the country's market. For instance, in January 2022, Royal Philips signed a ten-year strategic partnership with the University Hospital Brandenburg and der Havel in Germany to expand therapy options. The collaboration aims to renew and expand the diagnostic and therapy options of the hospital by delivering advanced technology solutions.
- Thus, the market is expected to witness significant growth in Germany during the forecast period due to the abovementioned factors.
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