Booming medical tourism in India

 

A new report, "Booming Medical Tourism in India”, provides an insight into the Indian medical tourism market. It evaluates the past, present and future scenario of the Indian medical tourism market and discusses the key factors that are making India a favorable medical tourism destination. Both statistics and trends regarding market size, tourist arrivals, infrastructure, accreditations, drivers and restraints have been thoroughly discussed in the report.

The research suggests that India represents the most potential medical tourism market in the world. Factors such as low cost, scale and range of treatments provided by India differentiate it from other medical tourism destinations. The growth in India’s medical tourism market is expected to serve as a boon for several associated industries including hotels, medical equipment and pharmaceuticals.

Key Findings
- India offers vast range of medical treatments from simple dental procedures to the complex cardiac surgeries.
- Patients can save 60%-95% of their treatment costs by undergoing treatment in India.
- Wellness tourism, spa, yoga and Ayurveda, has a very bright future in India as foreigners are increasingly flocking to India to seek physical and mental healing.
- In 2007, around 272,000 medical tourists visited India for medical tourism and brought US$ 656 Million in revenues.
- Lack of proper hospital accreditation system and inefficient laws against malpractice will be the biggest factor limiting the growth of India’s medical tourism Industry.
- India enjoys a considerable superiority over both Singapore and Thailand as preferred medical destination.

The report analyses the four most prominent hospital groups in Indian medical tourism - Apollo, Wockhardt, Fortis Healthcare and Max India. It costs$ 1300 printed and $ 1000 for a single user electronic copy.

A UNI report circulating in India suggests that India, originally known for low cost surgery is becoming a destination for dental tourism for low cost treatment. Articles in the Indian press suggest that most dental tourists come from within Asia, but 28 per cent come from Europe and 21 per cent from North America.

The Parthenon Group, a global strategic advisory firm set up its office in Mumbai last year. Parthenon is expanding its presence in India, including advising Indian hospitals on medical tourism opportunities. Alistair Stranack of the global healthcare practice, comments,” If you look at cost comparison and facilities, Thailand is much ahead of India. India needs to establish itself as a true destination for medical tourism with facilities and quality, with more government support.”

India’s tourism ministry had a meeting with hospitals, travel and hotel associations, and government officials promoting medical tourism. The ministry has identified global medical exhibitions where India can participate and create awareness. Under the “Visit India 2009” scheme, selected hospitals from major hospital groups have agreed to offer a full medical check up package at an affordable cost and one companion will be given free check up. The ministry has also created posters, literature, CDs and supporting articles to boost medical tourism.

 

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