CEEC Medical Tourism Market (Treatment Type - Fertility Treatments, Cosmetic Treatment, Dental Treatment, Cardiovascular Treatment, Orthopedic Treatment, Cancer Treatment, and Others Treatments; Service Providers - Private, and Public): Industry Analysis, Trends, Size, Share and Forecasts to 2030

A recent report ongoing study by Infinium Global Research on the medical tourism market provides an in-depth analysis of segments and sub-segments in the CEEC as well as regional medical tourism market. The study also highlights the impact of drivers, restraints, and macro indicators on the CEEC and regional medical tourism market over the short term as well as long term. The report is a comprehensive presentation of trends, forecasts, and dollar values of the CEEC medical tourism market. The Central and Easter European Countries (CEEC) medical tourism market is projected to grow at a CAGR of 14.42% between 2023 and 2030, expanding from USD 4,678.26 million in 2022 to USD 13,497.44 million in 2030. The CEEC medical tourism market reflects the projected number of medical tourists traveling to the CEEC region for treatment from 2022 to 2030.

Market Insight

The report finds out that the cost-effective medical treatment and the growing government initiatives for investment in healthcare modernization are the key trends in this market. Rising demand for cost-effective medical treatment attracts patients for medical tourism in the CCEC region. Compared to other regions, CEE countries offer high-quality medical care at a significantly lower cost. This attracts patients seeking procedures like dental care, fertility treatments, orthopedics, and cosmetic surgery. According to the Polish Association of Medical Tourism, medical tourism is becoming increasingly popular in Poland. The number of foreign patients seeking medical treatment in Poland has significantly increased, particularly in areas such as dentistry, cosmetic surgery, and orthopedic procedures. Additionally, the report identifies the opportunities for the clinics in the CEC region as the government invests in the healthcare infrastructure. The Polish government and private healthcare providers are investing heavily in modernizing facilities and adopting the latest medical technologies, which makes Poland an increasingly attractive destination for medical tourists, and orthopedic procedures. The Polish government and private healthcare providers are increasingly investing in modernizing facilities and accepting the latest medical technologies, making it a progressively attractive option for medical tourists. This approach proactive approach creates an opportunity for the clinics in the CEEC region for the medical tourism industry.

Key Insights into the Study:

The growing demand for medical and cosmetic surgeries at cheaper rates drives the demand for medical tourism. The appeal of inexpensive medical and beauty operations is a major driving factor behind the growth of medical tourism in this region. People are increasingly eager to fly abroad for surgeries that they may be unable to pay in their native nations. This is driven by large cost savings available in certain nations, especially Central and Eastern Europe. In addition, compared to Western Europe, the countries in central and eastern Europe provide easier access to high-quality healthcare at a lower cost. For example, Hungary has lesser medical treatment costs compared to developed countries such as Germany and the UK. For example, Dental procedures can be up to 60% less expensive than in the US or the UK. In comparison to Western countries, the cost of orthopedic procedures and cosmetic surgery is also far lower. Additionally, although the price of medical operations varies, it is usually significantly cheaper in Hungary than in other Western countries. For instance, the cost of a dental implant could be between USD 800 and USD 1,500, whereas in the US, the same surgery would cost as high as USD 3,000. Therefore, the market is growing due to the increase in medical tourists as a result of people being more aware of the availability of high-quality medical services at reasonable prices. Additionally, improved access to high quality healthcare services across the CEE region drives the growth of the medical tourism market.

Many people in both developing and developed regions are suffering from chronic diseases such as diabetes, lung cancer, heart disease, cancer, and other long-lasting conditions due to improper lifestyle choices, genetic disorders, and other health issues. Furthermore, people with chronic illnesses frequently face barriers such as inadequate healthcare facilities in their native countries that prevent them from getting high-quality healthcare. As a result, patients in the least developed and developing countries are becoming more drawn to the developed healthcare systems abroad, including in the Central and Eastern European (CEE) region. This increases the demand for medical tourism facilities in the CEE region. As an example, the Organization for Economic Co-operation and Development (OECD) projects that each year, around 50 million people travel overseas for medical care. Every year, a growing number of these medical tourists come to Central Europe, particularly to the nations that make up the Visegrád Group—the Czech Republic, Hungary, Poland, and Slovakia. Offering a wide range of health-related services is a longstanding tradition in the CEE region.

However, additional costs associated with tourism can hamper the growth of the medical tourism market. Medical tourism is driven by people who are looking for high-quality reasonably priced treatment abroad. Obtaining affordable medical care is the main driving force behind medical tourism, although additional costs for travel, lodging, and other incidentals are also frequently incurred by visitors. These added financial obligations may discourage interest in medical tourists, which would impede the market's expansion. Furthermore, rising government initiatives and investments to improve the healthcare infrastructure create an opportunity for the medical tourism market. The CEE area is becoming an alluring destination for medical tourists as a result of significant investments made by both public and commercial healthcare providers in updating infrastructure and implementing cutting-edge medical technologies. For example, between 2021 and 2024, the government gave healthcare service providers USD 30 million (HUF 10.2 billion) from the central budget to upgrade services and medical technology in Budapest's public healthcare facilities. As healthcare facilities and infrastructure develop, medical tourism service providers will be able to perform medical operations and spa services more efficiently. As medical equipment and health care services develop, medical service providers will have an opportunity to attract an increasing number of medical tourists within the country.

The CEEC medical tourism market covers the analysis of countries such as Poland, Hungary, Romania, Czech Republic, Slovakia, and the Rest of CEEC. Hungary accounted for the largest market share of the CEEC medical tourism market. The country constituted 26.28% of the market share in 2022 and is projected to increase up to 26.76% by the end of the forecast period 2023-2030. Hungary generated USD 1,229.45 Million in revenue in 2022. Hungary has gained a solid reputation in medical tourism for providing high-quality healthcare services at competitive prices. Budapest, the capital city also known as the "Spa City," is renowned for its thermal baths and long-standing excellence in dental and aesthetic treatments. As a result, Hungary has become a popular destination for medical tourists seeking both wellness and medical treatments. Hungarian healthcare services adhere to strict protocols based on international best practices, which ensure high standards of sanitation, advanced medical technology, and qualified medical staff. These factors make Hungary a dependable medical tourism destination.

Report Scope of the Medical Tourism Market:

Segment Covered

The report on CEEC medical tourism market covers segments such as treatment type, and service providers. On the basis of treatment type, the sub-markets include fertility treatments, cosmetic treatment, dental treatment, cardiovascular treatment, orthopedic treatment, cancer treatment, and others treatments. On the basis of service providers, the sub-markets include private, and public.

Companies Profiled:

The report provides profiles of the companies in the market such as Carolina Medical Center, Kardiolita Hospital, Buda Medical, Fi Clinica, AB, Kreativ Dental Clinic, Helvetic Clinics - Budapest Dental Clinic, Nordesthetics clinic, DAMIANA MEDICAL CENTER, and KCM Clinic.

Report Highlights:

The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the medical tourism market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.