Report Overview

An increasing number of intra- and international patients’ spurring demand for wellness procedures performed with high quality outcomes at affordable costs and rapid adoption of advancements in medical technology by healthcare service providers are expected to drive the India Medical Tourism Market during the forecast period between 2024 and 2030.

India Medical Tourism Market – Industry Trends & Forecast Report, 2030

The India Medical Tourism Market size was estimated at USD 16.87 billion in 2023. During the forecast period between 2024 and 2030, the India Medical Tourism Market size is projected to grow at a CAGR of 8.13% reaching a value of USD 22.56 billion by 2030. Prominent drivers of the India Medical Tourism Market include the increasing advancements in medical facilities, a growing pool of skilled medical professionals, and rising government support for medical tourism infrastructure. India has emerged as a prominent global destination for medical tourism, attracting patients seeking high-quality healthcare at significantly lower costs. This rapidly growing sector offers a compelling value proposition: advanced medical treatments, including complex surgeries and transplants, at a fraction of the price compared to developed nations like the US and UK. This cost advantage, coupled with India's skilled medical professionals and well-equipped hospitals, has drawn a surge of foreign patients in recent years. These patients benefit from quality medical care while potentially enjoying the country's tourist attractions. Further investment in infrastructure, technology, and patient services holds immense potential for the Indian medical tourism industry. By streamlining the experience for international patients, this sector can become a leading source of foreign exchange and seamlessly integrate into the broader tourism ecosystem.

Medical Tourism – Overview

Medical tourism, also referred to as health tourism or medical travel, has emerged as a significant trend. It involves individuals crossing international borders to access medical, dental, surgical, or broader healthcare services. This encompasses a wide range of treatments, from elective procedures like cosmetic surgery to highly specialized interventions and complex surgeries. Notably, medical tourism extends beyond the procedures themselves, encompassing pre- and post-operative care, consultations, diagnostics, rehabilitation, and the entire recovery journey.

India Medical Tourism Market

Growth Drivers

Growing Focus on Medical Tourism

India is becoming a leading destination for medical treatment, attracting patients from the Middle East, Africa, and Western countries such as United States and United Kingdom. Ranked 10th in the Medical Tourism Index 2020-21, cities like Chennai, Delhi, Mumbai, Hyderabad, and Bangalore are favored for their high healthcare standards. The government bolsters this sector with Medical Visas, funds for tourism service providers, and the "Advantage Healthcare India" portal. Key drivers include affordability, JCI and NABH accredited hospitals, widespread English proficiency, and lenient visa policies. Also, with the "Heal in India" initiative, the travel healthcare sector attracts two million patients annually for medical and wellness treatments. Key advantages are low costs, advanced medical technologies, and internationally accredited hospitals, with Chennai emerging as a major medical hub.

Growing Demand for Wellness Procedures

India is positioning itself as a hub for wellness tourism, leveraging traditional practices like Ayurveda, Yoga, Siddha, and Naturopathy. The Ministry of Tourism has drafted guidelines to enhance service quality, including accreditation by the National Board for Accreditation of Hospitals & Healthcare Services (NABH). These guidelines cover training, capacity building, and participation in wellness events. The Market Development Assistance (MDA) scheme now extends to accredited wellness centers, promoting high standards. The collaborative efforts of the Ministry of Tourism, AYUSH, state governments, and wellness providers are driving this initiative, reflecting the growing demand for holistic wellness procedures and quality service in India.

Challenges

Healthcare Infrastructure Disparities

Healthcare infrastructure disparities in India hinder the growth of its Medical Tourism Market. While specialist corporate hospitals cater to foreign tourists with state-of-the-art facilities and highly trained professionals, most Indians cannot afford these services. Additionally, the mixed urban and rural populations face poor sanitation conditions. This uneven distribution of quality healthcare services affects India's overall appeal as a medical tourism destination.

Impact of Escalating Geopolitical Tensions on India Medical Tourism Market

Geopolitical tensions can have a multifaceted impact on the India Medical Tourism Market. Uncertainty and instability deter potential medical tourists, who prioritize safety and stability when choosing destinations for healthcare. Political unrest can disrupt travel arrangements, leading to cancellations or postponements of medical trips. Moreover, negative perceptions of safety can tarnish India's reputation as a reliable healthcare destination, affecting its competitiveness in the global medical tourism market. Therefore, sustained geopolitical tensions pose significant challenges to India's efforts to attract international patients, potentially hampering the growth and development of its medical tourism industry.

India Medical Tourism Market

Segmental Coverage

India Medical Tourism Market – By Treatment Type

On the basis of treatment type, the India Medical Tourism Market is divided into Dental, Cosmetic, Cardiovascular, Orthopedic, Neurological, Cancer, and Fertility segments. The cancer treatment type holds the highest share in the India Medical Tourism Market. India stands as a beacon for top-tier medical professionals globally, attracting a growing influx of international patients seeking treatment. This surge is attributed to India's provision of world-class medical facilities at affordable rates, particularly in oncology. The country offers a comprehensive array of cancer treatments, including chemotherapy, radiation therapy, immunotherapy, targeted therapy, hormone therapy, and surgeries, all executed efficiently and cost-effectively. Notably, medical tourism for breast cancer has witnessed a notable rise, driven by factors such as age, obesity, alcohol consumption, and family history. India's prowess extends beyond oncology, encompassing complex surgeries like bypass, spinal fusion, and transplants, all delivered at competitive prices.

India Medical Tourism Market – By Service Provider

Based on service provider, the India Medical Tourism Market is bifurcated into Public and Private segments. The private segment holds a higher share in the India Medical Tourism Market by service provider. The private segment encompasses a wide array of private hospitals, clinics, and healthcare facilities renowned for their world-class services and state-of-the-art medical treatments. International patients prefer the private sector due to its superior quality of care, advanced medical technologies, and personalized treatment options. Private institutions like Max Healthcare have played a significant role, having treated up to 50,000 foreign patients across the nation. The promotion of medical tourism further empowers private entities to seize opportunities within this market segment. Overall, the private segment's prominence underscores its pivotal role in India's thriving medical tourism industry.

India Medical Tourism Market – By Region

Geographically, the India Medical Tourism Market is divided into North India, South India, East India, and West India regions. The South India region holds the highest share in the India Medical Tourism Market and is expected to maintain its dominance throughout the forecast period. Tamil Nadu, a major South Indian state, emerges as the frontrunner in the India Medical Tourism Market, and is projected to sustain its dominance. Renowned for its advanced healthcare infrastructure and a plethora of specialized medical professionals, Tamil Nadu attracts a substantial influx of both domestic and international health tourists. With over 12,500 hospital beds, a vast network of medical colleges, and numerous private specialty hospitals, the state offers competitive medical costs meeting global standards. The Tamil Nadu Tourism Department, recognizing its leadership in medical tourism, has established dedicated Medical Tourism Information Centers and travel desks. As Tamil Nadu continues to excel in medical care, efforts are underway to bolster medical and wellness tourism under the 'Heal in India' initiative, promising a robust future for the region's medical tourism sector. For instance, Chennai, dubbed "India's health capital," welcomes about 150 international patients daily, with 45% of health tourists to India heading there, attributed to its affordable costs, minimal waiting times, and specialized hospitals.

Competitive Landscape

The India Medical Tourism Market is fragmented, with numerous players serving the market. The key players dominating the India Medical Tourism Market include Apollo Hospitals, Fortis Healthcare, MedGinnie, MediConnect India, Forerunners Healthcare Consultants Pvt Ltd, Vaidam Health Private Limited, KPJ Healthcare, Mediniq, Sterling Hospital, Max Healthcare, Care Hospitals, Magnus Medi, and Clinicspots. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.

Recent Developments

• In January 2023 - Alpine Health Systems introduced an innovative AI-driven tool, supported by OSF HealthCare and High Alpha Innovation, aimed at optimizing intricate hospital discharge processes. This platform enables swift identification of vulnerable patients by case managers, facilitating their smooth transition to suitable care facilities.

Scope of the Report

By Treatment Type

• Dental

• Cosmetic

• Cardiovascular

• Orthopedic

• Neurological

• Cancer

• Fertility

By Service Provider

• Public

• Private

By Region

• North India

• South India

• East India

• West India