As per a recent market analysis by Future Market Insights (FMI), the China Medical Tourism market is poised to reach a valuation of US$ 8,936 Mn in 2022 and is projected to have a CAGR of 16% during the forecast period.
China Medical Tourism Market is forecast to grow at a steady rate during the forecast period. This is mainly attributed to certain factors like government support, the developing healthcare infrastructure, and the increasing number of internationally certified experts. This provides great opportunities in the China medical tourism market.
Medical tourism services and related operations restarted once the pandemic subsided and the strain on the healthcare system lessened. The China medical tourism market is gradually recovering from the effects of COVID-19; however, the long-term objective of reviving the sector is to restore the nation’s reputation as having an excellent and secure healthcare system.
As it draws so many patients, Traditional Chinese Medicine (TCMappeal)’s in the western hemisphere significantly contributes to the growth of the China medical tourism market. Recent China medical tourism market trends elevating the demand for service providers is extremely high as a result of the tourists’ search for genuine traditional remedies.
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China’s government intends to reform and control TCM practices by setting up specific TCM zones across the nation. These areas are anticipated to further contribute to the China medical tourism market growth.
“Demand in the China Medical Tourism market is slated to increase, presenting the perfect opportunity for firms to expand their operations,” says an FMI analyst.
Key Takeaways:
- China Medical Tourism market is forecast to grow at an impressive rate of 16% CAGR, during the forecast period of 2022-2032.
- Based on treatment, cosmetic treatments are leading in the China medical tourism market.
- Treatments like Acupuncture and Moxibustion are famous among medical tourists.
- Based on tour type, the majority of the tourists find independent traveling preferable in the China medical tourism market.
- Based on booking channels, online booking channels are widely popular in the China medical tourism market due to the hassle-free experience it offers and the various options they provide to consumers.
- According to the age category, those between the ages of 46-55 are the most likely to visit China for medical tourism.
Competitive Landscape:
Leading players in the China Medical Tourism market are actively trying to increase their presence on a global scale and reach out to a bigger pool of consumers.
Targeting the consumer audience which is looking for alternative treatments and other wellness services is the key driver for the China medical tourism market growth. It would be crucial for the China medical tourism market key players to provide consumers with comprehensive bundles.
Major players present in the China Medical Tourism market are Beijing Saint Lucia Consulting Ltd., Dr. Prem Community, Asia Pacific Medical Group, China Medical Tourism Inc., Clifford Hospital, Continuum Healthcare Co. Ltd, Ctrip.com International, Dennis Consulting Yunnan Ltd., Formera, Inner Mongolia Tourism Administration, Inter Partner Assistance Group, Elizabeth Hospital, BoaoYiling Life Care Center, Beijing Tongshantang Hospital of TCM, and Easy Tour China Travel Co. Ltd.
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Recent Development
Beijing Saint Lucia Consulting Ltd, a company founded in 2011, is backed by Sequoia Capital. The company specializes in providing consulting services for advanced medical treatments throughout China.
China Medical Tourism Market by Category
By Treatment Type:
- Dental Treatment
- Cosmetic Treatment
- Cardiovascular Treatment
- Orthopedic Treatment
- Neurological Treatment
- Cancer Treatment
- Fertility Treatment
- Others
By Services:
- Wellness Services
- Therapeutic Services
By Tour Type:
- Independent Traveller
- Tour Group
- Package Traveller
By Consumer Orientation:
- Men
- Women
- Children
By Age Group:
- 15-25 Years
- 26-35 Years
- 36-45 Years
- 46-55 Years
- 66-75 Years
By Booking Channel:
- Phone Booking
- Online Booking
- In-Person Booking
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