China Medical Tourism Market Market Report 2023 to 2030

China Medical Tourism Market Analysis

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China Medical Tourism Market is projected to grow from $xx Mn in 2023 to $xx Mn by 2030, registering a CAGR of xx% during the forecast period of 2023 - 2030. The market for Medical Tourism is expanding as a result of advanced medical technologies and comparatively lower costs of treatment in developing countries than in developed countries. Advancements in medical technology and high-quality treatment facilities are also driving the growth of the Medical Tourism market globally. Some of the key players in the medical tourism Market include Apollo Hospitals (India), Bumrungrad International Hospital (Thailand), Bangkok Hospital (Thailand), Fortis Healthcare (India), KPJ Healthcare Berhad (Malaysia), Asklepios Kliniken GmbH (China), Anadolu Medical Center (Turkey), Gleneagles Hospital (Singapore), Wooridul Spine Hospital (South Korea), Clemenceau Medical Center (Lebanon).

ID: IN10CNHS073 CATEGORY: Healthcare Services GEOGRAPHY: China AUTHOR: Dr. Nensi Savani

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China Medical Tourism Market Executive Summary

China Medical Tourism Market is valued at around $426.1 Bn in 2022 and is projected to reach $4429 Bn by 2030, exhibiting a CAGR of 34% during the forecast period 2023-2030.

Medical Tourism Market refers to the market for traveling to another country for medical treatment or healthcare services. The main driver of the market's expansion is the high expense of healthcare in home countries. The sector is also being fueled by an increase in demand for services like gender reassignment surgery, reproductive therapy, dental reconstruction, and cosmetic surgery that are not covered by insurance.

According to Medical Tourism Association (MTA), around 14 Mn people globally travel every year for treatment of different medical conditions. Medical services like cosmetic surgery, dental treatment, knee replacement, hip replacement, and heart surgery are the most common services for which people prefer medical tourism.

Some of the major key players in global medical tourism include Apollo Hospitals (India), Bumrungrad International Hospital (Thailand), Bangkok Hospital (Thailand), Fortis Healthcare (India), KPJ Healthcare Berhad (Malaysia), Asklepios Kliniken GmbH (China), Anadolu Medical Center (Turkey), Gleneagles Hospital (Singapore), Wooridul Spine Hospital (South Korea), and Clemenceau Medical Center (Lebanon).

Investments in healthcare technologies and medical facilities are increasing in developing countries which has led to the growth of the market in medical tourism. Accessibility for traveling is increased and people are having higher disposable income which has led to increased travel for medical treatment. Increasing waiting times and higher costs of treatment in their own countries are also fueling the growth of the medical tourism market.

Lower cost of treatment, highly skilled healthcare professionals and improved quality of care, and advanced technology are projected to fuel the market in coming years. There are still many challenges like insurance coverage issues, regulatory challenges, and patient safety and quality concerns which may poise the growth of the market for medical tourism.

Market Dynamics

Drivers of China Medical Tourism Market:

Lower Cost of Treatment in Developing Countries: Both patients and healthcare providers are feeling the effects of the increase in healthcare costs in developed countries. Additionally, in many nations, government rules imposed on the healthcare system cause process delays. This has encouraged many to seek medical care abroad. A rise in the number of procedures is being attributed to a higher rate of inbound medical tourism to places like Thailand and India for speedy and inexpensive medical care. The key factor contributing to the market expansion is the lower cost of modern operations.

Skilled Healthcare Professionals: Developing countries are known for their skilled and highly talented healthcare professionals and patient outcomes are also satisfactory, leading to a growth of the medical tourism market.

Quality of Care and Advanced Technology: Countries providing medical tourism services have invested in highly advanced medical technology, healthcare infrastructure, and highly skilled medical professionals providing top-notch quality care services. All these factors are driving the market for medical tourism.

Accessibility and Reduced Waiting Time: Some nations, especially those with public healthcare systems, have lengthy waiting lists for medical treatments, which pushes people to seek prompt treatment abroad. By lowering waiting times and enabling patients to undertake procedures without delay, medical tourism gives patients the chance to get healthcare services more quickly.

Restraints of China Community Oncology Service Market:

Regulatory Challenges: Medical tourism can get complicated due to variations in legal and regulatory systems between nations. Both patients and healthcare professionals must navigate different laws, rules, licensing criteria, and legal considerations. Regulations that are not standardized and unified might stifle market expansion and make it difficult for patients to find trustworthy treatment abroad.

Patient Safety and Quality Concerns: Medical tourism can make it difficult to ensure patient safety and sustain quality standards across various healthcare systems. Concerns regarding the training, experience, and credentials of healthcare professionals in other nations may arise among patients. To reduce these hazards, it is essential for patients to do extensive research and select accredited hospitals or clinics.

Key players

Beijing Puhua International Hospital Shanghai United Family Hospital Raffles Medical Group Asclepios Medical Group Bumrungrad International Hospital Wooridul Spine Hospital Apollo Hospitals Enterprise Ltd. Bangkok Hospital Medical Center Gleneagles Hospital Clemenceau Medical Center

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Market Segmentations For China Medical Tourism Market

By Treatment Type:

Cardiovascular treatment

Orthopedic treatment

Cosmetic treatment

Bariatric treatment

Dental treatment

Ophthalmology treatment

Infertility treatment

Alternative medicine

Others

By Service Provider:

Public
Private
- Multispecialty Hospitals
- Single Specialty Hospitals
- Nursing Homes
- Small Clinics
- Others

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.