In 2022, the Indian medical tourism market is expected to be worth US$ 7,417 million, and by 2032, it is anticipated to reach US$ 42,237,47 million. The analysis predicts that demand will increase at a healthy 19% CAGR from 2022 to 2032.
India’s medical tourism is forecast to grow at an exponential rate during the forecast period. Multiple external and internal factors ranging from government policies to quality of stay positively impact the India medical tourism market outlook.
The emergence of high-quality infrastructure in the country has facilitated the growth of the medical tourism market. The increasing number of internationally accredited hospitals in India, along with the high quality of expert surgeons and doctors, propel the India medical tourism market share.
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The low cost of consultation, accommodation, treatment, medicines, and surgery make India one of the most affordable options for availing healthcare services, setting new India medical tourism market trends and opportunities.
The quality of the procedure matches up to the top facilities available in developed nations, while being very affordable compared to developed nations like the US. Government schemes and interventions have also had a positive impact on the overall growth of the Indian medical tourism market.
Availability of medical visas under the e-visa section, offering long-term visas for an extended stay, official guidelines, and organizing campaigns like ‘Heal in India’ are some of the positive government interventions which are elevating the Indian medical tourism market share.
Wellness services like yoga and meditation have also been popular among tourists visiting India for medical reasons. ‘Ministry of Ayush’ established in 2014, regulates all the affairs related to alternative treatments and wellness sector in the country.
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The ministry has also been working on promoting these services among the visiting tourists, while providing official guidelines and platforms for the firms operating within the sector, improving India’s medical tourism market statistics.
Key Takeaways:
- The India medical tourism market is expected to have a CAGR of 19% through 2032.
- Top Players had an India medical tourism market share of 3%-8% in 2021.
- India accounts for between 4%- 8% of the world’s medical tourism market in terms of total demand.
- Due to the high level of healthcare offered in both regions, Maharashtra and Tamil Nadu continue to rank as two of the most popular states in the nation for medical tourism.
- Independent traveling is leading in the India medical tourism market due to increasing ease of availing facilities.
- Online booking is the preferred booking channel in the India medical tourism market.
Competitive Landscape:
Leading players of India medical tourism are focused on providing the consumers with a luxury stay and the utmost high-quality treatment. The key players have also focused on increasing their network of hospitals and doctors to provide a holistic experience for their consumers.
Key Players
- WorldViewer Dot Com (India) Pvt. Ltd
- Top Travel & Tours Pvt. Ltd.
- eLand Holidays Pvt. Ltd
- ToursinIndia Tourist Agency
- Forerunners Healthcare
- Vaidam Health
- Top Indian Holidays Pvt. Ltd.
- Dynasty Tours & Travel.
- CredihealthPvt. Ltd.
- ClinicSpots
- MediConnectPvt. Ltd.
- Medmonks Medicare Pvt Ltd.
- Mediniq Healthcare Pvt. Ltd.
- Global Treatment Services Pvt Ltd
- FrontEnders Healthcare Services Pvt. Ltd.
Recent Developments:
- Fortis Healthcare Group, with a chain of 29 hospitals in India, has started offering its own consultation packages for foreign medical patients seeking treatment.
- Indian insurers ought to make a serious effort to market their health plans to foreigners. An additional $9 billion in premium and patient influx to India could result from this.
India 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 Traveler
- Tour Group
- Package Traveler
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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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