The Switzerland
Healthcare And Medical Tourism Market size is
expected to reach USD 90.3 billion by 2028, based on a new report by Grand View
Research, Inc. The market is expected to expand at a CAGR of 6.7% from 2021 to
2028. The high quality of care, the expansion of the service portfolio by care
providers, and initiatives to promote medical tourism are expected to boost the
market growth during the forecast period.
As medical tourism is a key contributor to market growth,
the government is taking efforts to improve the quality of care. The total
number of tourists traveling to Switzerland for medical treatment is rapidly
increasing. Even though the cost of medical care is high compared to other
European countries, Switzerland has always been a popular destination for
medical tourism. This can be attributed to the well-established healthcare
infrastructure with the presence of trained healthcare professionals, high
quality and patient privacy standards, and beautiful locations. The COVID-19
pandemic has negatively impacted the medical tourism industry. Due to travel
restrictions and fear of contracting the infected, many patients postponed
their plans and/or had to seek treatment in their own countries. Many wellness
resorts and hospitals witnessed a decline in overnight stays due to the
pandemic.
Partnerships and collaborations to provide care enable
service providers to compete with other players to a strong foothold in the
market. In August 2020, Berit Klinik announced a collaboration with Appenzell
Ausserrhoden Hospital Association to set up a private-public partnership. As
part of the partnership, the two hospitals will jointly operate an orthopedic
department at Heiden Hospital. The market also witnessed certain investments in
establishing new healthcare centers. For instance, in January 2019, Clinique de
Montchoisi, in collaboration with Dr. Piet Noé, funded the construction of
Rwanda Charity Eye Hospital, a 100-bed hospital in Rwanda. Such measures assist
in fulfilling the increasing demand for care services in the market.
Related Press
Release@ Switzerland
Healthcare & Medical Tourism Market Report
Switzerland Healthcare & Medical Tourism Market
Report Highlights
- Switzerland
is emerging as a rising star in medical tourism. It is among the leading
European countries in terms of the number of international visitors. The
healthcare providers are focusing on providing a wholesome medical tourism
experience combining medical treatment with luxurious natural retreats,
mountain resorts, and spa traditions
- By
end-use, public care led the market in 2020. Private care is expected to
grow at the fastest rate during the forecast period. When compared to
public hospitals, private hospitals in Switzerland offer inpatient hospital
treatments at a much lower tariff, thus increasing the inclination toward
private hospitals amid the cost of medical care in the country
- Based
on service, the aesthetic medicine segment is expected to exhibit the
fastest growth rate during the forecast period due to the availability of
products and increasing awareness regarding cosmetic treatments
- The
industry is witnessing product launches and initiatives for business
expansion. For instance, in September 2018, SIS Medical launched three
balloon catheters viz. NIC Nano hydro, NIC 1.1 hydro, and EasyT, which are
used to dilate closed and narrow vessels during interventional cardiology.
The efforts for product innovation will help meet the demand for
cardiovascular treatment and improve the quality of care
- After
the detection of the first COVID-19 positive case in February 2020, the
government in Switzerland declared a “special situation” as per the
Epidemics Act. In the first quarter of 2020, the COVID-19 pandemic brought
international travel to an abrupt halt and significantly impacted
Switzerland’s medical tourism industry. However, the gradual easing of
COVID-19 restrictions and opening of clinics and hospitals for
international patients are factors expected to impel market growth in the
coming years
About Us:
Grand View Research, Inc. is a U.S. based market research
and consulting company, registered in the State of California and headquartered
in San Francisco. The company provides syndicated research reports, customized
research reports, and consulting services. To help clients make informed
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relevant and fact-based research across a range of industries including
technology, chemicals, materials, healthcare and energy.
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