Report Overview

Affordable, high quality medical care, the availability of qualified medical personnel, the growing acceptance of alternative therapies, and the possibility of partnerships and collaborations are expected to boost the growth of India Medical Tourism Market during the forecast period between 2023 and 2029.

India Medical Tourism Market - Industry Trends & Forecast Report, 2029

India medical tourism market size was estimated at USD 7.42 billion in 2022. During the forecast period between 2023 and 2029, India medical tourism market size is projected to grow at a CAGR of 19.28% reaching a value of USD 25.33 billion by 2029. Key factors influencing the growth of the medical tourism industry in India include the accessibility and affordability of high quality healthcare treatments, as well as assistance from regional administrations and tourism organizations. The availability of state-of-the-art medical equipment and facilities in popular destinations for medical tourism across the country is expected to stimulate market expansion. The expansion of the India medical tourism market is also expected to benefit from a wider hospital network that is insured for cashless transactions.

India Medical Tourism Market - Overview

A planned international trip to receive medical care that may or may not be available in the traveler's home country is known as medical tourism. Medical tourists cross international borders to maintain, improve, or restore their health using economical healthcare services and procedures that are offered in other nations but are quite expensive on their own. Dental, neurological, and cardiovascular procedures are among the medical procedures that medical tourists travel for.

Growth Drivers

Technology Advancements in Surgical Implants

The rising demand for medical tourism is being driven by the rising disease burden among the aging population and the accessibility of cutting-edge medical technologies for the treatment of several chronic health issues. The expansion of the market is expected to be largely fueled by the support and assistance offered by the tourist departments and governments of the source and host destinations. Due to the high cost of care or lack of treatment options in their native country, people seek medical tourism. People often choose medical tourism to receive prompt medical care and affordable medical therapy and healthcare services. The internationalization of the healthcare industry has greatly accelerated the growth of medical tourism market in India.

Government’s Supportive Initiatives

The Indian government is establishing new medical tourism market trends and has created a variety of facilities and initiatives to encourage the growth of the sector in the country. It is facilitating the medical visa application procedure by making it simple to get under the e-visa category. The expansion of India's market share in the global medical tourism has also been made possible by the provision of visas-on-arrival for travelers from specific countries.

Restraints

Scenario of Inadequate Reimbursement

Dental treatments are under-reimbursed in developed regions. Medical insurance policies in developing regions do not cover costly dental procedures such as implants. However, very few dental procedures are reimbursed, so a patient's decision to seek treatment is heavily influenced by its cost. It may limit the market growth of bone graft substitutes in the coming years.

Impact of COVID-19 on India Medical Tourism Market

Rising coronavirus cases across the country compelled the Indian government to impose a stringent lockdown and travel restrictions and halt the import-export of medical supplies. The scarcity of personal protective equipment had a significant impact on the medical tourism market. Medical travel consultants, startups, and small agencies limited budgets and cash flow, and they were vulnerable to fluctuations caused by the pandemic.

India Medical Tourism Market

Segmental Coverage

India Medical Tourism Market - By Treatment Type

Based on treatment type, India medical tourism market is divided into Cosmetic Treatment, Cardiovascular Treatment, Orthopedic Treatment, Neurological Treatment, Cancer Treatment, Fertility Treatment, and other treatment types. Due to the increase in cancer incidence across the world, the cancer treatment market category holds the highest market share in India medical tourism market. According to projections, more people are expected to traverse borders in search of effective cancer treatment. Moreover, cancer treatment is an expensive and drawn-out process; as a result, the market's expansion is fueled by countries with lower treatment costs. Patients often decide to travel to other nations that have modern healthcare facilities because such treatments are not readily available in some countries.

India Medical Tourism Market - By Services

Based on application, India medical tourism market is split into Wellness Services and Therapeutic Services segments.

India Medical Tourism Market - By Tour Type

Based on tour type, the India medical tourism market is divided into Independent Traveler, Tour Group, and Package Traveler segments. Independent travel tours command a majority of the market share. The main element influencing people to seek medical services in India is the low cost of treatment and accommodations, which in turn encourages medical tourism. The majority of individuals choose to travel alone because it is so expensive, which has increased the need for independent travel in the Indian medical tourism market.

India Medical Tourism Market - By Consumer Orientation

The India medical tourism market by consumer orientation is segmented into Men, Women, and Children. Both men and women contribute to the growth of the market. Travel for medical treatment is more common among those over the age of 45. Prevalent health issues like cancer, heart disease, diabetes, and difficulties with the muscles and joints are more likely to affect people beyond the age of 45. This also applies to people in this age bracket who go on business trips. They represent the age group most likely to visit India for health-related reasons.

India Medical Tourism Market - By Booking Channel

Based on booking channel, the India medical tourism market is divided into Phone Booking, Online Booking, and In-Person Booking segments. The most preferred method of booking is online. Internet reservations have become extremely popular recently. This is because it is simple to calculate the cost and offers consumers a wide range of options to pick from. Customers find it more comfortable to book from reputable, established tour operators who have an online presence, increasing the demand for online booking in the process.

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.

Competitive Landscape

Competition in India medical tourism market is intense with the presence of various major healthcare service provides including Apollo Hospitals, Fortis Healthcare, Medanta, Max Healthcare, Narayana Health, Wockhardth, Manipal Hospital, BLK Super Speciality Hospital, and Global Hospitals. The key strategies used by these market leaders are new services launches, mergers & acquisitions, and alliances. To grow their market share, these companies are also focusing on investing in innovations, collaborations, and expansions.

Recent Developments

• In November 2022 - The Indian Railways Catering and Tourism Corporation (IRCTC) launched medical treatment packages to its customers in India.

Scope of the Report

Attributes	Details
Years Considered	Historical Data – 2019–2022
	Base Year – 2022
	Estimated Year – 2023
	Forecast Period – 2023–2029
Facts Covered	Revenue in USD Billion
Market Coverage	North India, South India, East India, West India
Product/ Service Segmentation	Treatment Type, Services, Tour Type, Consumer Orientation, Booking Channel, Region
Key Players	Apollo Hospitals, Fortis Healthcare, Medanta, Max Healthcare, Narayana Health, Wockhardth, Manipal Hospital, BLK Super Speciality Hospital, Global Hospitals

 

 

By Treatment Type

• Dental 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

By Consumer Orientation

• Men

• Women

• Children

By Booking Channel

• Phone Booking

• Online Booking

• In-Person Booking

By Region

• Northern India

• Southern India

• Eastern India

• Western India

1. Research Framework
   1. Research Objective
   2. Product Overview
   3. Market Segmentation
2. Executive Summary
3. India Medical Tourism Market Insights
   1. Industry Value Chain Analysis
   2. DROC Analysis
      1. Growth Drivers
         1. High quality medical treatment at lower costs
         2. Availability of skilled medical professionals
      2. Restraints
         1. Limited insurance coverage
         2. Infrastructure and transportation challenges
      3. Opportunity
         1. Growing popularity of alternative medicine
         2. Potential for partnership and collaboration
      4. Challenges

3. 3. Technology Advancements/Recent Developments
   4. Regulatory Framework
   5. Porter’s Five Forces Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of New Entrants
      4. Threat of Substitutes
      5. Intensity of Rivalry
4. India Medical Tourism Market Overview
   1. Market Size & Forecast by Value, 2019−2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Treatment Type
         1. Dental Treatment
         2. Cosmetic Treatment
         3. Cardiovascular Treatment
         4. Orthopaedic Treatment
         5. Neurological Treatment
         6. Cancer Treatment
         7. Fertility Treatment
         8. Others
      2. By Services
         1. Wellness Services
         2. Therapeutic Services
      3. By Tour Type
         1. Independent Traveller
         2. Tour Group
         3. Package Traveller
      4. By Consumer Orientation
         1. Men
         2. Women
         3. Children
      5. By Booking Channel
         1. Phone Booking
         2. Online Booking
         3. In-Person Booking
      6. By Region
         1. Northern India
         2. Southern India
         3. Eastern India
         4. Western India
5. Northern India Medical Tourism Market
   1. Market Size & Forecast by Value, 2019−2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Treatment Type
      2. By Services
      3. By Tour Type
      4. By Consumer Orientation
      5. By Booking Channel
6. Southern India Medical Tourism Market
   1. Market Size & Forecast by Value, 2019−2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Treatment Type
      2. By Services
      3. By Tour Type
      4. By Consumer Orientation
      5. By Booking Channel
7. Eastern India Medical Tourism Market
   1. Market Size & Forecast by Value, 2019−2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Treatment Type
      2. By Services
      3. By Tour Type
      4. By Consumer Orientation
      5. By Booking Channel
8. Western India Medical Tourism Market
   1. Market Size & Forecast by Value, 2019−2029
      1. By Value (USD Billion)
   2. Market Share & Forecast
      1. By Treatment Type
      2. By Services
      3. By Tour Type
      4. By Consumer Orientation
      5. By Booking Channel
9. Competitive Landscape
   1. List of Key Players and Their Offerings
   2. India Medical Tourism Company Market Share Analysis, 2022
   3. Competitive Benchmarking, By Operating Parameters
   4. Key Strategic Development (Mergers, Acquisitions, Partnerships, and others)
10. Impact of Covid-19 on India Medical Tourism Market
11. Company Profile (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, Strategic Outlook, and SWOT analysis)
    1. Apollo Hospitals
    2. Fortis Healthcare
    3. Medanta
    4. Max Healthcare
    5. Narayana Health
    6. Wockhardth
    7. Manipal Hospital
    8. BLK Super Speciality Hospital
    9. Global Hospitals
    10. Other Prominent Players
12. Key Strategic Recommendations
13. Research Methodology
    1. Qualitative Research
       1. Primary & Secondary Research
    2. Quantitative Research
    3. Market Breakdown & Data Triangulation
       1. Secondary Research
       2. Primary Research
    4. Breakdown of Primary Research Respondents, By Region
    5. Assumptions & Limitations

 

*Financial information in case of non-listed companies will be provided as per availability

**The segmentation and the companies are subjected to modifications based on in-depth secondary for the final deliverable

 

List of Figure

Figure 1   India Medical Tourism Market Segmentation

Figure 2   India Medical Tourism Market Value Chain Analysis

Figure 3   Company Market Share Analysis, 2022

Figure 4   India Medical Tourism Market Size, By Value (USD Billion),2019−2029

Figure 5   India Medical Tourism Market Share, By Treatment Type, By Value,2019−2029

Figure 6   India Medical Tourism Market Share, By Services, By Value,2019−2029

Figure 7   India Medical Tourism Market Share, By Tour Type, By Value,2019−2029

Figure 8   India Medical Tourism Market Share, By Consumer Orientation, By Value,2019−2029

Figure 9   India Medical Tourism Market Share, By Booking Channel, By Value,2019−2029

Figure 10 India Medical Tourism Market Share, By Region, By Value,2019−2029

Figure 11 Northern India Medical Tourism Market Size, By Value (USD Billion),2019−2029

Figure 12 Northern India Medical Tourism Market Share, By Treatment Type, By Value,2019−2029

Figure 13 Northern India Medical Tourism Market Share, By Services, By Value,2019−2029

Figure 14 Northern India Medical Tourism Market Share, By Tour Type, By Value,2019−2029

Figure 15 Northern India Medical Tourism Market Share, By Consumer Orientation, By Value,2019−2029

Figure 16 Northern India Medical Tourism Market Share, By Booking Channel, By Value,2019−2029

Figure 17 Southern India Medical Tourism Market Size, By Value (USD Billion),2019−2029

Figure 18 Southern India Medical Tourism Market Share, By Treatment Type, By Value,2019−2029

Figure 19 Southern India Medical Tourism Market Share, By Services, By Value,2019−2029

Figure 20 Southern India Medical Tourism Market Share, By Tour Type, By Value,2019−2029

Figure 21 Southern India Medical Tourism Market Share, By Consumer Orientation, By Value,2019−2029

Figure 22 Southern India Medical Tourism Market Share, By Booking Channel, By Value,2019−2029

Figure 23 Eastern India Medical Tourism Market Size, By Value (USD Billion),2019−2029

Figure 24 Eastern India Medical Tourism Market Share, By Treatment Type, By Value,2019−2029

Figure 25 Eastern India Medical Tourism Market Share, By Services, By Value,2019−2029

Figure 26 Eastern India Medical Tourism Market Share, By Tour Type, By Value,2019−2029

Figure 27 Eastern India Medical Tourism Market Share, By Consumer Orientation, By Value,2019−2029

Figure 28 Eastern India Medical Tourism Market Share, By Booking Channel, By Value,2019−2029

Figure 29 Western India Medical Tourism Market Size, By Value (USD Billion),2019−2029

Figure 30 Western India Medical Tourism Market Share, By Treatment Type, By Value,2019−2029

Figure 31 Western India Medical Tourism Market Share, By Services, By Value,2019−2029

Figure 32 Western India Medical Tourism Market Share, By Tour Type, By Value,2019−2029

Figure 33 Western India Medical Tourism Market Share, By Consumer Orientation, By Value,2019−2029

Figure 34 Western India Medical Tourism Market Share, By Booking Channel, By Value,2019−2029

List of Tables

 

Table 1   India Medical Tourism Market Size, By Treatment Type, By Value,2019−2029

Table 2   India Medical Tourism Market Size, By Services, By Value,2019−2029

Table 3   India Medical Tourism Market Size, By Tour Type, By Value,2019−2029

Table 4   India Medical Tourism Market Size, By Consumer Orientation, By Value,2019−2029

Table 5   India Medical Tourism Market Size, By Booking Channel, By Value,2019−2029

Table 6   India Medical Tourism Market Size, By Region, By Value,2019−2029

Table 7   Northern India Medical Tourism Market Size, By Treatment Type, By Value,2019−2029

Table 8   Northern India Medical Tourism Market Size, By Services, By Value,2019−2029

Table 9   Northern India Medical Tourism Market Size, By Tour Type, By Value,2019−2029

Table 10 Northern India Medical Tourism Market Size, By Consumer Orientation, By Value,2019−2029

Table 11 Northern India Medical Tourism Market Size, By Booking Channel, By Value,2019−2029

Table 12 Southern India Medical Tourism Market Size, By Treatment Type, By Value,2019−2029

Table 13 Southern India Medical Tourism Market Size, By Services, By Value,2019−2029

Table 14 Southern India Medical Tourism Market Size, By Tour Type, By Value,2019−2029

Table 15 Southern India Medical Tourism Market Size, By Consumer Orientation, By Value,2019−2029

Table 16 Southern India Medical Tourism Market Size, By Booking Channel, By Value,2019−2029

Table 17 Eastern India Medical Tourism Market Size, By Treatment Type, By Value,2019−2029

Table 18 Eastern India Medical Tourism Market Size, By Services, By Value,2019−2029

Table 19 Eastern India Medical Tourism Market Size, By Tour Type, By Value,2019−2029

Table 20 Eastern India Medical Tourism Market Size, By Consumer Orientation, By Value,2019−2029

Table 21 Eastern India Medical Tourism Market Size, By Booking Channel, By Value,2019−2029

Table 22 Western India Medical Tourism Market Size, By Treatment Type, By Value,2019−2029

Table 23 Western India Medical Tourism Market Size, By Services, By Value,2019−2029

Table 24 Western India Medical Tourism Market Size, By Tour Type, By Value,2019−2029

Table 25 Western India Medical Tourism Market Size, By Consumer Orientation, By Value,2019−2029

Table 26 Western India Medical Tourism Market Size, By Booking Channel, By Value,2019−2029

Table 27 Apollo Hospitals Company Overview

Table 28 Apollo Hospitals Financial Overview

Table 29 Fortis Healthcare Company Overview

Table 30 Fortis Healthcare Financial Overview

Table 31 Medanta Company Overview

Table 32 Medanta Financial Overview

Table 33 Max Healthcare Company Overview

Table 34 Max Healthcare Financial Overview

Table 35 Narayana Health Company Overview

Table 36 Narayana Health Financial Overview

Table 37 Wockhardth Company Overview

Table 38 Wockhardth Financial Overview

Table 39 Manipal Hospital Company Overview

Table 40 Manipal Hospital Financial Overview

Table 41 BLK Super Speciality Hospital Company Overview

Table 42 BLK Super Speciality Hospital Financial Overview

Table 43 Global Hospitals Company Overview

Table 44 Global Hospitals Financial Overview