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Kevin Bürchler is the Chief Executive Officer of SIP Medical Family Office, Switzerland.
In today’s increasingly complex and interconnected geopolitical landscape, families around the world must consider a broader range of factors to secure their safety, stability, prosperity, and personal well-being. The health and wellness industry is poised for transformation, especially in temporary medical tourism and long-term relocation driven by health requirements. This shift is further shaped by rising medical costs and the evolving needs of high- and ultra-high-net-worth individuals. During 2025, health and longevity will remain central to global mobility, as affluent individuals prioritize access to cutting-edge healthcare and specialized services. However, the industry will also confront significant challenges, including escalating medical inflation, particularly in high-cost countries, and shifting geopolitical dynamics.
High-end medical tourism refers to patients seeking advanced healthcare services in foreign countries, particularly when these services or the necessary expertise are unavailable in their home countries. For the wealthiest individuals, medical tourism is not about cost-saving. Rather, it provides an opportunity to access world-class treatments in specialized areas such as preventative care, high-precision medicine, fertility treatments, stem cell therapies, and lifestyle optimization programs, or to achieve higher patient safety should the healthcare system in their home countries pose significant risks to the well-being of their families.
The global medical tourism market is expected to grow significantly, fueled by the increased investment of affluent families in their health and well-being. According to recent estimates, the it is projected to reach USD 75.3 billion by 2030, up from USD 15.6 billion in 2023. The demand for high-end medical tourism will continue to be driven by several factors.
Medical tourism offers affluent individuals access to cutting-edge treatments, including robotic surgeries, gene therapies, and high-precision and innovative medicine, which may not be available in their home countries.
Since the pandemic, many individuals have experienced seemingly unexplainable long-term symptoms. Luxury healthcare resorts with a focus on functional medicine have become increasingly popular. Detox technologies and methodologies, manual therapies, infusions, and similar treatments offered at resorts in peaceful settings in Austria, Germany, Spain, and Switzerland attract medical tourists from around the world, allowing them to de-stress and prioritize their well-being outside of traditional medicine.
Many healthcare facilities are enhancing their expertise in specialized areas such as oncology, cardiology, and orthopedics. As ultra-high-net-worth individuals seek healthcare tailored to their specific needs, medical tourism destinations with a reputation for excellence in these areas will continue to see an influx of patients and residents as this may be a determining factor when evaluating their settlement options.
As the demand for healthcare services grows in frequency and intensity owing to aging populations and innovation in healthcare, the cost of medical treatments rises, driving medical inflation. In high-income countries such as the USA, medical inflation has consistently outpaced general inflation, leading to a substantial increase in relative healthcare expenditure for both domestic and international patients.
During 2025, medical inflation is expected to continue rising, and this could have a profound impact on the medical tourism landscape. The costs for certain treatments in countries with highly developed healthcare systems may become prohibitively expensive, further encouraging their residents to seek the same quality of care abroad but at a far lower cost. Even for affluent individuals and families, the inaccessibility of local care in highly developed healthcare countries and the burden of travel could become a motive to relocate when requiring long-term well-being support.
Countries with relatively low healthcare costs such as India, Mexico, and Thailand have been key players in the medical tourism market. However, these countries too are grappling with inflationary pressures, particularly with the rising costs of pharmaceuticals, skilled labor, and imported medical equipment. Except for Thailand, these destinations are primarily sought for cost-saving reasons rather than for access to a higher standard of medical care.
A contributor to medical inflation with a yet unknown magnitude is the pricing policy of medical facilities for international patients. Rarely talked about and unbeknown to most participants in the healthcare industry is how variable medical prices are for non-domestic clients, even in countries with otherwise tightly regulated medical tariffs. Domestic price regulation is often tied to national arrangements involving the state and local insurers, who aim for price sustainability. However, this often does not apply to self-paying foreign patients or those with international insurance.
A self-paying international patient may be charged between 30% and 50% more than a domestic patient. This practice can be argued from both sides as international patients take up capacity in the national healthcare system, often have less flexibility due to travel requirements, or may expect higher service standards. For the same medical service, an international insurer could be charged twice as much as a domestic patient if no agreement is in place to regulate these tariffs. With a growing awareness among consumers and insurers, such price variability is expected to be reduced in future.
As health-motivated relocation, medical tourism, and medical inflation evolve, several key trends are expected to shape the landscape during 2025.
The geopolitical environment will continue to play a role in medical tourism, as political stability, economic growth, and trade relations can affect the attractiveness of certain countries. For instance, the UAE has positioned itself as a global healthcare hub, with an abundance of high-end medical facilities using the latest technology. Until recently, such facilities have been under-utilized and fighting to attract patients. Similarly, countries such as South Korea and Thailand are investing heavily in healthcare infrastructure to attract international patients.
The luxury real estate market will increasingly intertwine with the healthcare sector, with the development of resorts and residences specifically for the higher age groups. These spaces will offer a combination of high-end living arrangements with easy accessibility to medical services, and possibly wellness programs.
During 2025, there will be a growing emphasis on preventative care and longevity within the medical tourism industry. High- and ultra-high-net-worth individuals will seek comprehensive health screenings, genetic testing, and personalized optimization programs — services that are primarily offered in countries with most advanced healthcare systems, where specialists with advanced expertise are based.
In 2025, health and well-being will remain a key driver for travel and relocation, fueled by the growing demand for specialized treatments, luxury healthcare services, and global mobility among wealthy individuals. However, rising medical inflation will create new challenges, as countries that have traditionally offered affordable medical care may see price increases, particularly for complex and advanced treatments. Understanding these dynamics will be crucial for wealth managers, investors, and governments as they navigate the evolving landscape of global wealth migration and investment.
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