In the recent years, government support, low cost, improved healthcare infrastructure, and rich cultural heritage, have taken the Indian medical tourism to new heights. India has emerged as one of the world’s most cost-efficient medical tourism destinations, and thus, attained a position among the global leaders. Based on our analysis and facts and figures provided in our latest research report, we anticipate that the Indian medical tourism market will register a CAGR of 27% during 2011-15.
According to “Booming Medical Tourism in India”, the heart surgery centers in the country offer treatment at a significantly lesser prices compared to North America and Europe. Superior quality of dental care and ayurvedic spa treatments are also attracting patients across the globe. We studied each market segment in detail in the report, and included its cost effectiveness compared to other countries. Though India’s reputation is not good on hygiene front, its state-of-the-art medical facilities and value for money offered attracts thousands of patients each year. In this way, the country holds enormous potential for growth in medical tourism in future.
Extensive research and analysis also revealed that quality-driven wellness centers, cord blood banking, and medical tourism facilitators are among the key trends driving the medical tourism market. It has been observed that wellness tourism, alternate meditation, and the advantage of being the least competitive pricing have been the USP of the Indian medical tourism. Cardiac and orthopedic procedures constitute the majority share of the market. In order to obtain an in-depth knowledge, we also carried out primary research for cost comparisons of different medical procedures.
We strolled into various government initiatives that provided a positive impact on the medical tourism market in India. The adoption of the Public Private Partnership (PPP) Model by the Indian Government at both central and state levels to improve healthcare infrastructure in the country through expertise of private sector and better support of public sector provided the extra thrust to medical tourism. We also observed that the regulatory structure in connection to the medical tourism industry has been quite liberal and supportive in the country so far.
Taking into consideration all the positive insights from our analysis, we are hopeful that the analysis of our current market performance and future outlook of the Indian medical tourism industry along with the forecasts presented in the report will facilitate our clients towards devising the rightful strategies and make sound investment decisions.