India’s market for medical tourism is expected to touch the $9 billion mark by 2020, according to a report released by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Ernst & Young.
Delhi, Mumbai, Chennai, Bangalore, Hyderabad and Kolkata are the preferred destination cities for medical tourists arriving in India. Nearly 27 percent of India’s medical tourists head to Maharashtra, out of which 80 percent go to Mumbai. Chennai attracts nearly 15 percent of the incoming foreign patients while Kerala handles around 5 percent to 7 percent.
As per the report titled ‘India: Building Best Practices in Healthcare Services Globally 2019’, the rising costs of health care in developed countries such as the US and the UK will make India an affordable alternative in the coming years. The report also noted that the country is one of the preferred destinations for Medical Value Travel (MVT) as it occupies the fifth position among 41 major medical tourism destinations, as per Medical Tourism Index Overall ranking, 2016.
The number of Foreign Tourist Arrivals (FTAs) coming to India on a medical visa has been on the rise over the past few years. The average growth rate has been around 55 percent, and it is expected to be maintained in the coming years. Affordability of treatment is a key factor that puts India higher up on the list of destination choices among medical tourists. When compared to medical care and treatment in the Western countries, people can save up to as much as 50 percent. For a foreign patient seeking treatment in India, daily travel costs would come up to around $31, as opposed to the $223 in the US, a considerable saving!
