The medical tourism industry in India is poised for an explosive rise. Valued at US$ 10,362.9 million in 2024, it’s projected to reach a staggering US$ 50,670.5 million by 2034, growing at a phenomenal 17.2% CAGR. This presents a golden opportunity for healthcare providers to attract patients seeking high-quality, cost-effective medical care. But how can your facility stand out in this competitive landscape?
The global pandemic has ushered in a new era of health consciousness, driving a surge in demand for high-quality, affordable healthcare. This press release highlights India’s growing prominence in the medical tourism sector:
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- Post-Pandemic Wellness Focus: Increased health awareness has spurred interest in cost-effective, high-quality healthcare, including medical tourism destinations like India.
- First-Class Care, Affordable Costs: India offers patients from developed nations access to world-class medical services, skilled professionals, and innovative therapies at significantly lower costs.
- Wellness Meets Wanderlust: Patients can combine medical treatments with leisure experiences, exploring India’s stunning landscapes, rich culture, and diverse heritage.
- Ayurveda & Yoga Attract Attention: India’s renowned alternative therapies like Ayurveda and yoga are gaining traction in Europe and beyond, drawing medical tourists seeking holistic wellness solutions.
- Governmental Push: The Indian government actively promotes medical tourism and traditional therapies, further solidifying the country’s position as a leading healthcare destination.
By offering a unique blend of affordability, cutting-edge medicine, and traditional wellness practices, India is well-positioned to capitalize on the burgeoning medical tourism market. This trend benefits not only patients seeking quality care but also boosts India’s tourism industry and cultural exchange.
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.
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.
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