India Medical Tourism Market To Establish Growth Due To Rapid Technological Advancement Until FY2027
Advancing government
policies are driving the growth if India Medical Tourism Market, FY2017-FY2027.
According to
TechSci report on, “India Medical Tourism Market By Type (Inbound v/s
Outbound) By Treatment Type (Orthopedic Surgery, Cardiac Surgery, Cancer
Treatment, Neurology & Neurosurgery, Cosmetic Surgery, Bariatric Surgery,
Fertility Treatment, Others) By Service (Medical VISA, Appointment Fixation,
Treatment/Check-up Packages, Others) By Region, Top 3 States, Competition
Forecast & Opportunities, FY2027”, India medical tourism market
has shown promising growth in historical years until FY2020 and is expected to
continue its growth in upcoming forecast years FY2023 to FY2027. India medical
tourism market owes its growth to the factors like growing need for affordable
and efficient healthcare facility. Healthcare industry in India is rapidly
evolving and with the technological advancements in the treatment procedures,
the India medical tourism market is anticipated to grow exponentially in the
upcoming five years. Moreover, consistent research and advances in the medical
devices have made it possible for the early diagnosis possible. Thereby,
patients traveling in the country for the healthcare are able to find the root
cause of their diseases and thus can be treated efficiently soon and supporting
the growth of the market in the next five years. Various governmental schemes,
healthcare facility’s assistance, and tourism sector providing favorable
transportation as well as travel care facility is aiding the growth of the
India medical tourism market in the forecast years until 2026. The government
is also working toward easier and smooth processes for the documentation, VISA
approvals, and partial reimbursements for the patient thus inviting more
consumers to avail the services in India, thus supporting the growth of the
market in the next five years. Furthermore, rising disposable income among the
high-class population is also supporting the outbound tourism for medical
purposes and aiding the growth of India medical tourism market in the five
years of forecast.
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The India medical tourism market is segmented by type, treatment type,
services, regional distribution, top three state analysis, and competitional
landscape. Based on treatment type, the market is further segmented into orthopedic
surgery, cardiac surgery, cancer treatment, neurology & neurosurgery,
cosmetic surgery, bariatric surgery, fertility treatment, and others.
Orthopedic surgery is anticipated to hold the largest revenue shares of the
market on the account of rising number of populations travelling in India for
the orthopedic treatments. Also, the cost for the orthopedic surgeries is quite
affordable in the country and the advancement in the technology is further
substantiating the growth of the market segment along with the India medical
tourism market in the next five years. Cardiac surgeries are also multiplying
in the recent years. The rising number of experts and procedural surgeons with
vast experience and efficiency is supporting the significant growth of the
market segment in the upcoming five years.
Based on type, the market is differentiated between inbound and outbound
medical tourism. Inbound medical tourism involves the patients from outside
India, visiting the country for healthcare facility. Outbound medical tourism
involves the patients from India visiting other countries to avail healthcare
facility. Inbound medical tourism is anticipated to register largest revenue
shares of the market and dominate the market segment on the account of
affordable and effective healthcare facilities available in the country.
Patients from the neighboring countries like Thailand, Myanmar, Nepal, are
often visiting the country for the healthcare facility and the market is bound
to experience due to these factors. Outbound medical tourism is also expected
to register significant growth in the next five years, due to inclination of
the population with their disposable incomes to visit larger economies like
United States for the top-tier healthcare facility.
Some of the top players in the India medical tourism market is
GlobalCare Health, Vaidam Health Private Limited, Digicore Technologies Pvt.
Ltd. (ClinicSpots), We Care Health Services, Mediniq Healthcare Pvt Ltd, Arinaa
Medical Tourism Pvt Ltd, Medmonks Medicare Pvt Ltd., Mediconnect India Pvt.
Ltd., Alphine Life Solutions, Forerunners Healthcare Consultants Private
Limited, Global Treatment Services Pvt. Ltd., Al Afiya Medi Tour Private
Limited, Universal Health Help Private Limited, India Medical Centre,
TransEarth Medical Tourism, HealthOpinion, Anavara Limited, Tour2India4Health
Consultants Pvt. Ltd., TourMyIndia Pvt. Ltd., SafeMedTrip, among others. The
companies are involving themselves into research and development for more
advanced medical devices. With the evolving technology, it is appropriate to
say that the effective research and development of the technologically advanced
instruments and methods to satisfy consumer demands would support the market
growth and benefit the market players as well as the consumers. New market
players may focus on the research and development to provide such products and
services that satisfies the consumer demand as well as benefits the market
players in building their brand value. Other competitive strategies include
mergers & acquisitions and new product developments.
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“India medical
tourism is expanding with the government support. Indian government has come up
with supportive and efficient schemes for the medical provision travelers.
Easier processes for the VISA approvals, financial support through
reimbursements and comfortable and efficient transport vehicles including ambulances,
medical buses, medically equipped airbuses etc. New market entrants may focus
on the patient transport services since it is one of the major service
improvement area. Also, technological advancements would aid the growth of the
market players in the subsequent years of forecast,” said Mr. Karan Chechi,
Research Director with TechSci Research, a research based global management
consulting firm.
“India Medical Tourism Market By Type (Inbound v/s
Outbound) By Treatment Type (Orthopedic Surgery, Cardiac Surgery, Cancer
Treatment, Neurology & Neurosurgery, Cosmetic Surgery, Bariatric Surgery,
Fertility Treatment, Others) By Service (Medical VISA, Appointment Fixation,
Treatment/Check-up Packages, Others) By Region, Top 3 States, Competition
Forecast & Opportunities, FY2027” has evaluated the future
growth potential of India medical tourism market and provides statistics &
information on market size, structure and future market growth. The report
intends to provide cutting-edge market intelligence and help decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges, and
opportunities in India medical tourism market.
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