What is the medical tourism market in India?

While MVT for India was projected to be USD 9 billion by 2020, despite the debilitating impact of the COVID-19 pandemic on the tourism and hospitality industry, the medical tourism sector is estimated to have been worth USD 5–6 billion. MVT in India is expected to grow to USD 13 billion by 2022.

What is the market for medical tourism?

18, 2021 (GLOBE NEWSWIRE) — The global medical tourism market size was reached at USD 102.6 billion in 2020.

Report Coverage Details
Market Size in 2020 USD 102.6 Billion
Growth Rate From 2021 to 2030 CAGR 10.8%
Fastest Growing Market Europe
Largest Market Asia Pacific

What is the status of medical tourism in India?

Medical tourism is a growing sector in India. In mid–2020, India’s medical tourism sector was estimated to be worth US$5–6 billion. In 2017, 495,056 patients visited India to seek medical care.

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What is the growing percentage of medical tourism in India?

Medical tourism in India

Official records have shown that the Indian medical tourism industry is growing at 18% CAGR. By this year, it is estimated to be worth 9 billion. It is projected to have 20% of the medical tourism market share by 2020.

How many medical tourists visit India each year?

Owing to these facilities and logistical support systems, the number of Foreign Tourist Arrivals (FTAs) in India on the medical visa have grown to an astounding 697,000 in 2019 from 495,056 in 2017.

Why is medical tourism increasing?

Medicinal tourism is expanding on a worldwide basis, with patients seeking cosmetic surgery in countries abroad. Cardiovascular surgeries abroad are increasing in demand with the growing obesity rates and rise in healthcare costs.

How big is the medical tourism industry?

Medical tourism was valued at 54.4 billion U.S. dollars in 2020 and was forecast to reach a market size of over 200 billion U.S. dollars by 2027.

What are the benefits received by medical tourism in India?

Immediate service. This is another significant benefit of medical tourism in India. Patients from overseas are given immediate access to health care services. Medical tourism allows them to be placed on the priority list, and when dealing with health matters, waiting is not an option always.

How can we improve medical tourism in India?

In general, there are three areas where India needs to improve, to boost medical tourism in a post-pandemic future:

  1. Advertise in a better way about the facilities present in major hospitals.
  2. Educate the Indian high commission in various countries about medical tourism as a potential revenue and goodwill earner.
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Which state in India is leading in medical tourism?

The country is also known for its alternative treatment options such as yoga and ayurveda, it said. The leading destinations of medical tourism in India are Andhra Pradesh, Karnataka, New Delhi, Kerala, Tamil Nadu, and Maharashtra, the report said.

Which city is called the health capital of India?

Chennai attracts 45 percent of health tourists visiting India, and 30 to 40 percent of domestic health tourists. As such, it is termed “India’s health capital”.

How popular is medical tourism?

Medical tourism is becoming increasingly popular, and it is projected that as many as 750,000 Americans will seek offshore medical care in 2007. This phenomenon is driven by marketplace forces and occurs outside of the view and control of the organized healthcare system.

Why is India emerging fast in medical tourism sector?

India has emerged as the most sought after destination by medical tourists because it has availability of world class doctors at affordable prices when compared to other developed countries of the world. Also, India has diversity of tourist destinations in the country.

What is the future of tourism in India?

In 2020, the Indian tourism sector accounted for 31.8 million jobs, which was 7.3% of the total employment in the country. By 2029, it is expected to account for about 53 million jobs. International Tourists arrival is expected to reach 30.5 billion by 2028.

Why is medical tourism important?

What are the reasons for the medical tourism?  Search of better and higher quality of medical treatments that may not be available in the native country.  To find a cheaper place for the medical procedures of same quality.  In some countries, certain medical procedures are not legal, such as fertility procedures.

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