Currently, the size of the medical tourism industry in India in value terms is estimated at a little over $3 billion, with tourist arrivals estimated at 230,000.
Medical tourism is an area that the Bharatiya Janata Party (BJP)-led National Democratic Alliance (NDA) government plans to tap to drive growth in the tourism sector. In its manifesto, the party said it would build 50 tourism circuits including a medical circuit, which will connect hubs of modern medicine and Ayurveda. The report projected the segment to grow at a compounded annual growth rate (CAGR) of 20% between 2014 and 2018.
India has positioned itself as an inexepensive destination for medical treatment compared with the US and Europe. Additionally, Indian private hospitals have a large pool of skilled doctors, nurses and supporting staff that attract medical tourists, especially from South-East Asia and the Middle East. “The vast pool of medical professionals, expanding private health-care infrastructure, growing technical expertise, cheaper medical procedures, world class health-care infrastructure and government support are likely to boost the number of medical tourists arrivals in India to a projected level of 4 lakh by 2018,” said Sharad Jaipuria, president, PHD Chamber. The report cited the lack of a dedicated website on which Indian hospitals, tour operators and medical facilitators can be listed with specialists and doctors, as a deterrent to the growth of medical tourism.
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