Swiss Healthcare & Medical Tourism Market 2021 - 2028: Shortage of Local Workforce & Overworked Employees Inhibiting the Market
Dublin, Dec. 03, 2021 (GLOBE NEWSWIRE) -- The "Switzerland Healthcare & Medical Tourism Market Size, Share & Trends Analysis Report By End Use (Private Care, Public Care), By Service (Radiology, Aesthetic Medicine), And Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The Switzerland healthcare and medical tourism market size is expected to reach USD 90.3 billion by 2028, based on a new report by the publisher. 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.
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
Key Topics Covered:
Market Variables, Trends & Scope
Market Lineage Outlook
Parent market outlook
Penetration & Growth Prospect Mapping
Analysis
Market Dynamics
Market driver analysis
High quality of care
Initiatives to promote medical tourism
Market restraint analysis
Shortage of local workforce & overworked employees
Market Opportunity Analysis
Market Challenge Analysis
Switzerland Healthcare & Medical Tourism Industry Analysis - Porter's
Bargaining power of buyers: low
Bargaining power of suppliers: high
Competitive rivalry: high
Threat of new entrants: low
Threat of substitutes: low
Switzerland Healthcare & Medical Tourism Industry Analysis - PEST
Political & legal landscape
Economic landscape
Social landscape
Technological landscape
Qualitative Analysis: Impact of COVID-19 on Switzerland Healthcare & Medical Tourism Market
Switzerland Healthcare Market: End-use Analysis
Switzerland Healthcare Market: Service Analysis
Switzerland Medical Tourism Market: Country Analysis
Companies Mentioned
Klinik Hirslanden, Zurich
Swiss Medica XXI Century S.A.
Biologic Aesthetic DentalCARE
Berit Klinik
Clinique de Genolier
Clinique de Montchoisi
Hirslanden Clinique Cecil
Private Clinic MENTALVA
Rehabilitation Clinic Zihlschlacht
Grand Resort Bad Ragaz
Clinica Sant'AnnA
WALDHOTEL HEALTH & MEDICAL EXCELLENCE
Swiss mEDICAL NETWORK
The Swizz Leading Hospital
Privatklinik Hohenegg AG
Klinik Im Park
Private Clinic Meiringen
Hirslanden Klinik Aarau
Pyramide am See Clinic
HIRSLANDEN 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
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