China's medical tourism market has shown rapid development in recent years, and its scale is driven by multiple factors such as policy support, medical technology enhancement, and health demand upgrade. Although the statistical caliber of different institutions is slightly different, but the comprehensive existing data and industry analysis, from the following dimensions to sort out its market size and growth potential:
the current market size: hundreds of billions of dollars of the market is beginning to emerge
According to the report (2023 data), China's medical tourism market size has exceeded one hundred billion yuan, and maintain an average annual compound growth rate of 20%-30%. Specifically, it can be divided into two parts: international medical tourism (overseas tourists coming to China) and Chinese medical tourism (domestic cross-regional medical treatment + health consumption):
1. International medical tourism (to China)
China, as an emerging medical tourism destination, mainly attracts high-net-worth people from Southeast Asia, the Middle East, Russia, and some Europe and the United States, with its core strengths focusing on oncology treatment, traditional Chinese medicine physiotherapy, high-end medical checkups, and rehabilitation and convalescence.
According to the National Health Commission, in 2019 (before the epidemic), China received about 600,000 overseas medical tourists, with a consumption scale of more than 10 billion yuan (per capita consumption of about 17,000 yuan).
After the epidemic (from 2023), with the restoration of international exchanges, the number of international medical tourism trips in the core areas of Boao Lecheng in Hainan, Pudong in Shanghai, and Concordia in Beijing has rebounded rapidly, and it is expected to recover to more than 1.5 times of the pre-epidemic level in 2025 (about 900-1.2 million trips).
2. China Medical Tourism (Inbound)
China's cross-regional medical tourism is much larger, with key drivers including:
Medical+Tourism" demand from HNWIs: e.g. treatment at high-end tumor hospitals in Shanghai and Guangzhou, or recuperation at hot springs rehabilitation bases in Yunnan and Guangxi; and
Chinese medicine culture output: such as Nanyang, Henan Province (Zhang Zhongjing's hometown), Bozhou, Anhui Province and other places of Chinese medicine recreation tourism.
Medical beauty and health management: medical beauty institutions in Chengdu, Shenzhen and other cities combined with tourism packages to attract neighboring consumers.
Data show that in 2023, China's medical tourism market size of about 80-100 billion yuan, is expected to exceed 150 billion yuan in 2025.
the core growth drivers
1. Intensive release of policy dividends
Boao Licheng International Medical Tourism Pioneer Zone (“Special Medical Zone”) in Hainan enjoys policies such as “licensed medicine and equipment import” and “pilot medical insurance”, and will receive more than 500,000 medical tourists in 2023, a year-on-year growth of 40%. In 2023, it will receive more than 50 million medical tourists, a year-on-year increase of 40%.
The National Health Commission and other 10 departments jointly issued the Opinions on Promoting the Continuously Healthy and Standardized Development of Social Medical Care, encouraging social capital to participate in medical tourism.
The outline of “Healthy China 2030” clearly puts forward “developing new forms of health services”, and includes medical tourism as a key support area.
2. Improvement of medical technology and service capacity
China has reached the international advanced level in the fields of precision tumor treatment (e.g. CAR-T cell therapy), cardiovascular and cerebrovascular interventional surgery, and organ transplantation, etc., and the cost of some of the technologies is 30-50% lower than that in Europe and the United States; the international recognition of Chinese medicine has increased (e.g. the development of medical services).
Chinese medicine international recognition (such as acupuncture is 183 countries into the medical system), promote “Chinese medicine + tourism” model in Southeast Asia, Europe and the United States market expansion.
3. Consumption upgrade and health consciousness awakening
The number of Chinese high net worth people (investable assets of more than 10 million yuan) has exceeded 3 million, and their demand for “high-end medical care + quality tourism” is strong (such as anti-aging medical care in Japan and Switzerland, the price of similar services in China is only 1/3-1/2).
In the post-epidemic era, the demand for “preventive medicine” has surged, and medical checkups, genetic testing, and anti-aging treatments have become new hotspots for medical tourism.
Market Segment Structure
China's medical tourism market can be subdivided into four major areas, with different percentages and growth potentials:
1. Disease treatment: tumors, cardiovascular and cerebrovascular diseases, rare diseases and other serious diseases - Boao Lecheng (licensed medicine and equipment treatment), Peking Union Medical College (difficult and complicated diseases)
2. Health management: high-end physical examination, genetic testing, anti-aging - Aikang Guobin/Menian Dahua Health's “Physical Examination + Tourism” package.
3. Rehabilitation: post-operative rehabilitation, chronic disease management, hot springs physical therapy - Tengchong, Yunnan (hot springs rehabilitation), Bama, Guangxi (longevity rehabilitation)
4. Medical plastic surgery: micropigmentation, organ remodeling, skin management - Chengdu/Shenzhen medical beauty institutions “surgery + vacation” portfolio
Challenges and Future Trends
1. Challenges:
International medical tourism faces barriers such as geopolitics, mutual recognition of medical standards (e.g., JCI accreditation), and language services; and
China's cross-regional medical insurance settlement has not yet been fully opened, and some programs (such as high-end physical examination) are not included in the medical insurance.
Industry regulation needs to be strengthened to avoid “excessive medical care” and “false propaganda” that may damage market reputation.
2. Trend:
“Medical + tourism” in-depth integration: scenic spots and medical institutions to develop “healing tourism” products (such as forest healing, Chinese medicine study).
Digital empowerment: remote consultation, AI-assisted diagnosis and other technologies to enhance the efficiency of cross-border medical services.
Regional differentiated competition: Hainan focuses on international high-end medical care, the Yangtze River Delta/Pearl River Delta strengthens tumor/cardiovascular specialties, and Chengdu-Chongqing/Wuhan develops comprehensive medical tourism.
Summary
China's medical tourism market has entered a period of rapid growth, the scale of about 100-120 billion yuan in 2023, is expected to exceed 200 billion yuan in 2025, and is expected to become one of the world's important medical tourism destinations in the long term. The core driving force comes from policy support, technological upgrading and consumption upgrading, and the future will continue to release the potential in the diversified scenarios of “disease treatment + health management + rehabilitation and convalescence”.