Wellness Industry to Drive the Medical Tourism in India

According to our research report “Booming Medical Tourism in India”, medical tourism in India has emerged as the fastest growing segment of the tourism industry despite the global economic downturn. High cost of treatments in the developed countries, particularly the USA and the UK, has been forcing patients from such regions to look for alternative and cost-effective destinations to get their treatments done. Although the Indian medical tourism industry is presently at a nascent stage, it holds enormous potential for future growth and developments. It is anticipated that, the Indian medical tourism will post a CAGR growth rate of around 27% during 2011-2014, thus positioning India as one of the most favorable destinations for healthcare services.

The report outlines that, wellness tourism is a fast emerging segment in the Indian medical tourism industry. It is observed that, wellness has been the USP of Indian tourism, which can be fully leveraged by creating good quality unique travel experiences on an emotional, physical, intellectual, and even spiritual level. Moreover, the Ministry of Tourism is aiming to leverage India’s potential in traditional systems of wellness and medicines, such as Ayurveda, Siddha, and Yoga to project India as a unique destination for spiritual healing.

The ongoing research analysis found that, the biggest factor driving patients to seek healthcare in India is the fact that, the country provides first world treatments at third world costs. Many private hospitals, such as Apollo and Wockhardt have infrastructure and expertise at par with those available in the West, but cost lower than them. Other factors, such as rising accreditation from international agencies and increasing partnerships between insurance firms/employers and Indian hospitals are infusing growth in the Indian medical tourism industry.

“Booming Medical Tourism in India”, provides a thorough analysis of the current market performance and future outlook of the Indian medical tourism industry. It acknowledges the fact that, India differs vastly from other destinations in terms of cost, infrastructure, human resources, patient perceptions, competencies, and the level of government support. All these factors have been thoroughly studied in the report. Overall, the report provides valuable information to clients looking to venture into these markets and helps them in devising strategies while going for an investment/partnership in India.

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