Indian Medical Tourism Industry to Rise at a CAGR of 17.20% from 2024 to 2034 – Market Research Blog

The medical tourism sector in India is poised for explosive growth. Worth $10,362.9 million in 2024, it is expected to reach a staggering size. $50,670.5 million by 2034, phenomenal growth 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 institution distinguish itself in this competitive landscape?

The global pandemic has ushered in a new era of health consciousness, increasing the demand for quality, affordable healthcare. This press release highlights India’s growing prominence in the medical tourism sector:

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• Post-Pandemic Wellbeing Focus: Increased health consciousness has fueled interest in cost-effective, high-quality healthcare, including medical-tourism destinations such as India.
• First-class care, affordable costs: India offers patients from developed countries access to world-class medical services, skilled professionals and innovative therapies at a significantly lower cost.
• Wellness meets wanderlust: Patients can combine medical treatments with leisure experiences, exploring India’s breathtaking landscapes, rich culture and diverse heritage.
• Ayurveda & Yoga attract attention: India’s famed alternative therapies such as Ayurveda and yoga are gaining ground in Europe and beyond, prompting medical tourists to seek holistic wellness solutions.
• Government pressure: The Indian government is actively promoting medical tourism and traditional therapies, further cementing the country’s position as a leading healthcare destination.

By offering a unique blend of affordability, advanced medicines and traditional wellness practices, India is well positioned to capitalize on the rapidly growing medical tourism market. This trend not only benefits patients seeking quality care but also boosts India’s tourism industry and cultural exchange.

The low cost of consultation, accommodation, treatment, medicines and surgeries makes India one of the most affordable options to avail healthcare services, creating new trends and opportunities in the medical tourism market in India.

The quality of the procedure is on par with the top facilities available in developed countries while being very affordable compared to developed countries like the US. Government schemes and interventions have also positively impacted the overall growth of the Indian medical tourism market.

Availability of medical visas under the e-visa section, offering long-term extended stay visas, official guidelines and organizing campaigns like ‘Heal in India’ are some of the positive government interventions that are increasing the market share of Indian medical tourism.

Wellness services such as yoga and meditation are also popular among tourists visiting India for medical reasons. Established in 2014, the ‘Ministry of Ayush’ handles all matters related to alternative treatments and the wellness sector in the country.

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The ministry has also been working to promote these services among the visiting tourists while providing official guidelines and platforms for the companies operating within the sector, thus improving the Indian medical tourism market statistics.

Competitive landscape:

Leading medical tourism players in India are focused on providing consumers with the highest quality luxury stay and treatment. Key players have also focused on increasing their network of hospitals and doctors to provide a holistic experience to their consumers.

Main characters

• WorldViewer Dot Com (India) Pvt. Ltd
• Top Travel & Tours Pvt. Ltd.
• eLand Holidays Pvt. Ltd
• ToursinIndia Tourist Board
• Forerunners in healthcare
• Vaidam Health
• Top Indian Holidays Pvt. Ltd.
• Dynasty tours and trips.
• Credihealth Pvt. Ltd.
• ClinicSpots
• MediConnect Pvt. Ltd.
• Medmonks Medicare Pvt Ltd.
• Mediniq Healthcare Pvt. Ltd.
• Global Treatment Services Pvt Ltd
• FrontEnders Healthcare Services Pvt. Ltd.

Recent developments:

• Fortis Healthcare Group, which has a chain of 29 hospitals in India, has started offering its own consultation packages for foreign medical patients seeking treatment.
• Indian insurers should make a serious effort to market their healthcare plans to foreigners. This could generate an additional $9 billion in premiums and an additional influx of patients to India.

India Medical Tourism Market by Category

By treatment type:

• Dentist treatment
• Cosmetic treatment
• Cardiovascular treatment
• Orthopedic treatment
• Neurological treatment
• Cancer treatment
• Fertility treatment
• Others

By services:

• Wellness services
• Therapeutic services

By tour type:

• Independent traveler
• Tour group
• Package traveler

According to consumer orientation:

By age group:

• 15-25 years
• 26-35 years
• 36-45 years
• 46-55 years
• 66-75 years

Per booking channel:

• Telephone booking
• Book online
• Personal booking

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