Due to the influx of foreign medical tourists in 2027, the India medical tourism market is projected to grow from US$ 5.63 billion in 2021 to US$ 35.12 billion in 2027.
India’s medical tourism industry is anticipated to grow at a CAGR of 35.68% between 2021 and 2027.
India’s medical tourism market is expanding quickly and is predicted to do so in the years to come. India has become a well-liked location for medical tourism, claims the Ministry of Tourism. A total of 595,000 medical tourists visited India in 2019, a 22.3% rise from the previous year.
In spite of the difficulties caused by the epidemic, India received about 650,000 medical tourists in 2022, according to another report by the Federation of Indian Chambers of Commerce & Industry (FICCI). When compared to the data from the prior year, this reflects a huge increase.
In 2023, the impact of medical tourism in India could significantly alter the country’s healthcare system. Here are a few ways that medical tourism could alter the Indian healthcare system:
1. Infrastructure development:
Hospitals and healthcare institutions in India may engage in infrastructure development to meet the demands of medical tourists. This could entail the construction of modern hospitals, cutting-edge medical technology, and specialised centres of excellence. Such advancements will help locals as well as medical tourists by enhancing the nation’s overall healthcare system.
2. Quality standards and certifications:
Indian healthcare providers will probably concentrate on raising their quality standards and gaining foreign certifications as a result of the surge of medical tourists. This would result in more focus being placed on patient safety, adherence to established practises, and general healthcare quality. By boosting the standards of medical practise everywhere, the implementation of strict quality controls would have a good knock-on effect on the domestic healthcare system.
3. Specialized training and skill development:
Healthcare practitioners in India may acquire specialised training in international standards of care, cross-cultural interaction, and patient management to meet the needs of patients from other countries. In addition to improving their abilities, this would encourage medical professionals to collaborate and share knowledge. A more capable healthcare workforce would be produced in India as a result of the acquired knowledge and abilities.
4. Research and innovation:
The exposure to a diverse range of medical conditions and treatment methodologies through medical tourism can stimulate research and innovation within the Indian healthcare system. As doctors and researchers interact with international patients and experts, they may gain valuable insights and exchange knowledge, leading to advancements in medical research, technology, and treatment protocols. This would benefit both medical tourists and the domestic population by providing access to cutting-edge medical advancements.
5. Economic growth and increased funding:
Medical tourism can contribute to the growth of the Indian economy by attracting foreign exchange through healthcare spending. Medical tourism earnings can be invested back into the healthcare industry to enhance financing for medical research, education, and infrastructure. Particularly for disadvantaged areas and marginalised communities in India, this cash boost can aid in closing accessibility gaps in healthcare.
6. Collaboration and knowledge sharing:
Medical tourism fosters collaboration and knowledge sharing between Indian healthcare providers and international institutions. Such collaborations can lead to joint research projects, technology transfer, and exchange programs. This cross-pollination of ideas and expertise would help the Indian healthcare system stay updated with global best practices and create opportunities for further advancements.
Even while medical travel may result in improvements, it is crucial to make sure that all facets of society can benefit from these breakthroughs. To guarantee equitable healthcare treatment in India, it is essential to strike a balance between serving foreign patients and satisfying the requirements of the local people.