Report Overview

Saudi Arabia Medical Tourism Market - Industry Trends & Forecast Report 2028 

Saudi Arabia Medical Tourism market is expected to grow at a CAGR of 4.6% during the forecast period of 2022-2028. The market's growth can be attributed to the availability of better healthcare, privacy or confidentiality-related aspects in the home country, availability of advanced technologies, innovative medicines, and medical devices in Saudi Arabia. Moreover, the expenses aided by government spending are expected to support the growth of the Saudi Arabia medical tourism market in the coming five years. For instance-In Saudi Arabia, a five-year plan is being developed to encourage Saudi nationals to stay in the country for their treatment and to attract medical tourists from other Islamic countries in the region to Saudi Arabia.

Medical Tourism Overview

Medical tourism is the practice of traveling from one home country to another country for the purpose of seeking health care, such as elective surgery, dental treatment, reproductive treatment, organ transplant, or medical check-ups. It is different from "wellness tourism," which entails visiting spas and undertaking homeopathic treatment or traditional therapies. Saudi Arabia has a high potential for becoming a medical tourism hotspot in the region, and it has most of the high standard and internationally accredited infrastructure and facilities. The unique position of the country in religious and archaeological history and its political stability give it the edge over competitors in the field of medical tourism.

Saudi Arabia Medical Tourism Market

Growth Drivers 

Excellent Healthcare Infrastructure and Facilities Coupled with Huge Government Spending On Bettering the Healthcare System

Better healthcare, cutting-edge technology, innovative medicines, and medical devices are all important growth drivers for the Saudi Arabia medical tourism industry throughout the forecast period. Moreover, regions with a lack of medical insurance, inadequate healthcare facilities, the neighboring countries with stricter laws against various medical procedures, like gender identification of the unborn child, fertility treatments, etc., are driving the patients to consider traveling to the KSA for the medical procedures. Furthermore, augmentation in the disposable income and government refund policies are also molding the consumers, thereby supporting the market's growth.

Growth Restraint

Underestimation of the Kingdom’s Potential in Medical Tourism Market and Complicated Documentation Process

The main hindrance in the emergence of Saudi Arabia as a hub of medical tourism is that it is ignored by the government and the private sector, which underestimates the importance of medical tourism. Secondly, the complicated nature of the documentation process makes it challenging to acquire a medical visa. As one of the first priorities of patients is early diagnosis and treatment, a delay in acquiring a visa is antagonistic to the purpose in the case of medical conditions. Furthermore, the region's market growth is hampered by a lack of relevant information on the medical unit to which the patient intends to go.

Impact of COVID-19 On Saudi Arabia Medical Tourism Market

The COVID-19 pandemic has worst hit the medical tourism market due to the travel restrictions and closure of many country borders to curb the spread of the virus. Medical tourism flourished in the last decade, with the key players consolidating strategies to form strong network chains for international travel. Governments and healthcare providers worked on expanding their strategies and incorporating key players. The Middle East made great efforts in the sector. Dubai, Abu Dhabi, and Saudi Arabia established centers of excellence and specialist expertise to compete in the global health tourism market. But the abrupt breakdown of the coronavirus pandemic severely hit the medical tourism industry, with a record decline in airline demand, closure of medical tourism agencies, and widespread financial hardships. Gradually, there has been a slow recovery in the flight demand as the coronavirus restrictions were gradually eased. Saudi Arabia medical tourism is anticipated to recover by the second quarter of 2022.

Saudi Arabia Medical Tourism Market – By Type

Based on the type, the Saudi Arabia medical tourism market is segmented into inbound and outbound travel. Amidst the segmentation, inbound tourism is expected to exhibit a higher market growth rate during the forecast period. The higher growth rate can be attributed to the increased expenditures on the betterment of healthcare facilities in the kingdom. Along with that, more accessible and simpler regulations from the Saudi Arabian government are further attracting patients from neighboring and other countries to take advantage of the lavish and inexpensive healthcare facilities of Saudi Arabia. Outbound travel for medical causes is also anticipated to witness significant growth during the forecast period.

Saudi Arabia Medical Tourism Market – By Treatment Type

Based on the treatment type, the Saudi Arabia medical tourism market can be segmented into orthopedic, gynecological, cardiovascular, pediatric, dental, fertility, cosmetic, and others. Orthopedic treatment is the set of medical procedures utilized for the different kinds of disease or disorders in the spinal cord and ligament injuries or bone structure. Escalating instances of road accidents and sports injuries support the growth of the Orthopedic market segment. Various privacy and confidentiality-related issues also aid the development of different segments like cosmetic treatment, fertility treatment, etc. In addition, other segments such as gynecological and pediatric treatments are also expected to witness remarkable growth during the forecast period.

Competitive Landscape 

The key players dominating the Saudi Arabia Medical Tourism market are Arabian Gulf Medical Tourism Agency, King Abdullah Specialist Children’s Hospital, Saudi Centre for Organ Transplantation, Dr. Soliman Fakeeh Hospital, Al Rayan Hospital, Abeer Medical Group, Inaaya Medical Tourism, and other prominent players. The research and development of technologically advanced services would drive market growth and benefit the market players and consumers. New market players may concentrate their efforts on research and development in order to deliver services and connected devices that meet consumers' expectations and help market players develop brand value. Different competitive strategies such as mergers & acquisitions are deployed to maintain dominance in the market.

Recent Development

• In 2020, the Saudi Arabia government re-promised to privatize 295 state hospitals as the Saudi Arabian General Investment Authority had already provided 100% ownership to foreign investors in the healthcare sector. It would help the country compete in the global medical tourism market.

• In 2020: A MoU was signed between India and Saudi Arabia to develop sustainable tourism infrastructure via sharing technology and best practices and encouraging mutual investments in medical tourism in Saudi Arabia.

Scope of Report:

By Type:

• Inbound
• Outbound

By Treatment Type:

• Orthopedic Treatment
• Gynecological Treatment
• Pediatric Treatment
• Cardiovascular Treatment
• Dental Treatment,
• Fertility Treatment
• Cosmetic Treatment
• Others

1. Research Framework
   1. Research Objective
   2. Medical Tourism Overview
   3. Market Segmentation
2. Research Methodology
   1. Qualitative Research
      1. Primary & Secondary Research
   2. Quantitative Research
   3. Market Breakdown & Data Triangulation
      1. Secondary Research
      2. Primary Research
   4. Breakdown of Primary Research Respondents, By Region
   5. Assumption & Limitation
3. Executive Summary
4. Saudi Arabia Medical Tourism Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   3. Recent Development/Technological Landscape
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
5. Saudi Arabia Medical Tourism Market Overview
   1. Market Size & Forecast by Value, 2018-2028
      1. By Value (USD Million)
   2. Market Share & Forecast
   3. By Type
      1. Inbound
      2. Outbound
   4. By Treatment Type
      1. Orthopedic Treatment
      2. Gynecological Treatment
      3. Pediatric Treatment
      4. Cardiovascular Treatment
      5. Dental Treatment,
      6. Fertility Treatment
      7. Cosmetic Treatment
      8. Others
6. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. Market Share Analysis, 2021
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Merger, Acquisition, Partnership.)
7. Impact of COVID-19 on Saudi Arabia Medical Tourism Market Industry
8. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook)
   1. Arabian Gulf Medical Tourism Agency
   2. King Abdullah Specialist Children’s Hospital
   3. Saudi Centre for Organ Transplantation
   4. Dr. Soliman Fakeeh Hospital
   5. Al Rayan Hospital
   6. Abeer Medical Group
   7. Inaaya Medical Tourism
   8. other prominent players.
9. Key Strategic Recommendations

List of Figures

Figure 1        Saudi Arabia Medical Tourism Segmentation

Figure 2        Saudi Arabia Medical Tourism Market Value Chain Analysis

Figure 3        Company Market Share Analysis, 2021

Figure 4        Saudi Arabia Medical Tourism Market Size, By Value (USD Million), 2018-2028

Figure 5        Saudi Arabia Medical Tourism Market Share, By Type, By Value, 2018-2028

Figure 6        Saudi Arabia Medical Tourism Market Share, By Treatment Type, By Value, 2018-2028

List of Tables

Table 1         Saudi Arabia Medical Tourism Market Size, By Type, By Value, 2018-2028

Table 2         Saudi Arabia Medical Tourism Market Size, By Treatment Type, By Value, 2018-2028 

Table 3          Arabian Gulf Medical Tourism Agency Company Overview

Table 4         Arabian Gulf Medical Tourism Agency Financial Overview

Table 5         King Abdullah Specialist Children’s Hospital Company Overview

Table 6         King Abdullah Specialist Children’s Hospital Financial Overview

Table 7         Dr. Soliman Fakeeh Hospital Company Overview

Table 8         Dr. Soliman Fakeeh Hospital Financial Overview

Table 9          Al Rayan Hospital Company Overview

Table 10        Al Rayan Hospital Financial Overview

Table 11        Inaaya Medical Tourism Company Overview

Table 12        Inaaya Medical Tourism Financial Overview