Global Switzerland Healthcare & Medical Tourism Market by Service (Radiology, Aesthetic Medicine), by End Use (Private Care, Public Care) and Region (North America, Latin America, Europe, Asia Pacific and Middle East & Africa), Forecast To 2028

Summary of the Report

The market for Switzerland's healthcare and medical tourism was worth USD 54.2 billion in 2020. It is expected to grow at a 6.7% compound annual growth rate (CAGR), between 2021 and 2028. Market growth will be boosted by the increasing use of initiatives to promote medical tourists, and the high quality medical care. The Swiss healthcare sector has a reputation for providing high-quality and efficient healthcare services. While there are some regional differences in satisfaction with healthcare, overall the situation seems positive. The established healthcare system allows the industry to concentrate on the incoming medical tourists.

Switzerland is a major destination for medical tourism. There are efforts being made to improve the services. Switzerland Tourism (ST), took initiative to partner with hospitals, clinics and other medical facilities. The focus was on quality infrastructure, medical expertise and location in a natural and relaxing setting. ST has partnered successfully with 26 hospitals and clinics throughout the region in 2019, and its 33 regional offices around the world offer its partners the opportunity to expand their visibility on foreign markets. ST also launched its magazine, website and marketing strategy in 2020. It plans to continue participating in events in Russia and China in order to highlight Switzerland's health tourism services. These activities help to establish Switzerland as a top-ranked medical tourism destination on the international platform.

COVID-19 Switzerland medical tourism market impact: 77% decrease from 2019 to 2020

Patients visiting Switzerland to receive medical treatment should have access to the most technologically advanced medical equipment, diagnostic procedures and robot-assisted minimally-invasive surgeries. Hirslanden Klinik Aarau, for example, offers robotic surgery services to international patients. The cost of Swiss medical treatment can be reduced by using innovative surgical techniques. According to OECD, Switzerland is the country with the longest hospital stays. The technological advancements in minimally invasive surgery can lead to a significant decrease in hospital stay length and in-patient expenses.

End-use Insights

In 2020, the market's largest revenue segment was the public care segment. The main factors driving the growth of this segment are strong government support and higher healthcare spending. The country's medical tourism sector has seen a significant boost. Medical tourists prefer to visit public hospitals over private ones. The rise in medical tourists is due to initiatives by Switzerland Tourism, such as business partnerships that support targeted marketing campaigns.

Private hospitals in Switzerland are being attracted by large private hospital groups that have dozens of private hospitals and clinics located at different locations. These hospitals offer world-class healthcare. Hirslanden Private Hospital Group, for example, consists of 17 private hospitals located in various parts of Switzerland. Similar to the Hirslanden Private Hospital Group, The Swiss Leading Hospitals consists of 18 private hospitals as well as 236 doctors in Switzerland. These hospitals are well-known for their quality and medical expertise. Private care is booming thanks to the expansion of this network of large hospitals and the opening of more clinics.

The country's medical tourism sector has seen a significant boost from Gulf countries. Switzerland Tourism has taken active measures to attract medical tourists to Switzerland, including collaboration with clinics and sponsorships. In 2020, Switzerland Tourism made USD 7.2 million from business partnerships that supported targeted marketing campaigns. The segment's growth is impeded by the high cost of medical treatment, high surgical procedure tariffs, and higher out-of-pocket costs.

Service Insights

In 2020, the radiology segment was the dominant market in terms revenue. Computed Tomography has seen a rise in revenue due to its use in minimally invasive procedures such as percutaneous biopsies and percutaneous abscess draining, as well as diagnostics. Innovative products on the market are proving to be a boon for the health service, increasing efficiency and improving patient care.

There are many challenges facing the service sector, including a shortage in local healthcare workers, insufficient supply from training institutes, difficulties in maintaining work-life balance, and an increasing demand for healthcare services. A significant shortage in nurses for long-term care facilities is particularly concerning, given the country's growing geriatric population.

Initiatives that contribute to the growth and development of the aesthetic medicine sector in Switzerland are being witnessed. Forever Boutique, an idea store for aesthetic medicine, launched a crowdfunding campaign in June 2017. This makes aesthetic medicine more accessible, and allows for greater product penetration on the market. Additionally, The Swiss Federal Council has banned animal testing of cosmetics. This positively impacts the aesthetic industry's image and encourages its adoption.

Switzerland Medical Tourism Insights

Due to an influx of foreign patients, the Swiss medical tourism industry is experiencing remarkable growth. These regions are home to the majority of private hospitals. The quality of care is a hallmark of both public and private hospitals. Through health insurance, the government guarantees healthcare access for all residents.

The Organization for Economic Co-operation and Development, (OECD) states that 100% of Swiss citizens are eligible for basic healthcare services. There are also 4.3 physicians per 1,000 people, which is close enough to the OECD median, and 17.2 nurses per 1,000 people, which is higher than the OECD mean. The market will be driven by the strong healthcare infrastructure and growing popularity of Switzerland as a destination for medical tourism.

Market Share Insights & Key Companies

There are many players in Switzerland's healthcare and medical tourism market. To increase their market share, companies must expand their services portfolio and launch new facilities. They also need to partner and collaborate. Clinique de Montchoisi, for example, announced in January 2020 that it would be expanding its orthopedic services with the opening of a new physiotherapy department and an occupational therapy department. The following are some of the most prominent players in Switzerland's healthcare and medical tourism markets:

• Klinik Hirslanden

• Swiss Medica XXI Century S.A.

• Biologic Aesthetic Dentistrycare

• Berit Klinik

• Clinique de Genolier

• Clinique de Montchoisi

• Hirslanden Clinique Cecil

• Private Clinic Mentalva

• Rehabilitation Clinic Zihlschlacht

• Grand Resort Bad Ragaz

• Clinica Sant'Anna

• The Waldhotel

• Swiss Medical Network

• The Swiss Leading Hospital

• Privatklinik Hohenegg AG

• Klinik Im Park

• Private Clinic Meiringen

• Hirslanden Klinik Aarau

• Pyramide am See Clinic

• Salem-Spital

• Schmerzklinik Basel

• Klinik Beau-Site

• Clinique La Colline

• SW!SS REHA

• Berit Klinik

• BESAS Bern Hospital Center for Geriatric Medicine

• cereneo Schweiz AG

• CLINIC BAD RAGAZ

• LEUKERBAD CLINIC

• Clinique de Maisonneuve

• Clinique Valmont

• Hochgebirgsklinik Davos

• Hof Weissbad AG

• Klinik Schloss Mammern

• Oberwaid AG

• Rehaklinik Dussnang AG

• Salina Rehabilitation Clinic

Up Market Research published a new report titled “Switzerland Healthcare & Medical Tourism Market research report which is segmented by Service (Radiology, Aesthetic Medicine), by End Use (Private Care, Public Care), By Players/Companies Berit Klinik, Private Clinic Mentalva, Klinik Beau-Site, The Swiss Leading Hospital, Klinik Schloss Mammern, Klinik Hirslanden, Hirslanden Clinique Cecil, Clinica Sant’Anna, LEUKERBAD CLINIC, Privatklinik Hohenegg AG, Oberwaid AG, Rehaklinik Dussnang AG, Hochgebirgsklinik Davos, Rehabilitation Clinic Zihlschlacht, Clinique de Maisonneuve, Hirslanden Klinik Aarau, Swiss Medica XXI Century SA, Clinique La Colline, Klinik Im Park, Swiss Medical Network, Pyramide am See Clinic, Private Clinic Meiringen, Salem-Spital, Clinique de Genolier, BESAS Bern Hospital Center for Geriatric Medicine, cereneo Schweiz AG, Schmerzklinik Basel, Hof Weissbad AG, Clinique de Montchoisi, CLINIC BAD RAGAZ, The Waldhotel, Grand Resort Bad Ragaz, Salina Rehabilitation Clinic, Clinique Valmont, Biologic Aesthetic Dentalcare, SW!SS REHA, Berit Klinik”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.

Report Scope

The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

Global Switzerland Healthcare & Medical Tourism Market Report Segments:

The market is segmented by Service (Radiology, Aesthetic Medicine), by End Use (Private Care, Public Care).

Switzerland Healthcare & Medical Tourism Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.

Key Benefits for Industry Participants & Stakeholders:

• Industry drivers, restraints, and opportunities covered in the study
• Neutral perspective on the market performance
• Recent industry trends and developments
• Competitive landscape & strategies of key players
• Potential & niche segments and regions exhibiting promising growth covered
• Historical, current, and projected market size, in terms of value
• In-depth analysis of the Switzerland Healthcare & Medical Tourism Market

Overview of the regional outlook of the Switzerland Healthcare & Medical Tourism Market:

Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.

Highlights of The Switzerland Healthcare & Medical Tourism Market Report:

1. The market structure and projections for the coming years.
2. Drivers, restraints, opportunities, and current trends of Switzerland Healthcare & Medical Tourism Market.
3. Historical data and forecast.
4. Estimations for the forecast period 2028.
5. Developments and trends in the market.

                1. Radiology

                2. Aesthetic Medicine

                1. Private Care

                2. Public Care

8. Market scenario by region, sub-region, and country.
9. Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
10. Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
11. Government Policies, Macro & Micro economic factors are also included in the report.

We have studied the Switzerland Healthcare & Medical Tourism Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.

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Reasons to Purchase the Switzerland Healthcare & Medical Tourism Market Report:

• The report includes a plethora of information such as market dynamics scenario and opportunities during the forecast period
• Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) data.
• Regional, sub-regional, and country level data includes the demand and supply forces along with their influence on the market.
• The competitive landscape comprises share of key players, new developments, and strategies in the last three years.
• Comprehensive companies offering products, relevant financial information, recent developments, SWOT analysis, and strategies by these players.