What is the growth potential of medical tourism in India?
Medical tourism is a key growth sector for India, as it is projected to be worth $9 billion by 2020 and become 20% of the global market share in 2020.
What is the average growth rate of medical tourism business in India?
Factors attracting medical tourist to India:
Medical tourism is growing by 30% each year.
How big is the medical tourism industry in India?
According to data, around 697,453 foreign tourists came for medical treatment in India in the year 2019.
How much percentage of medical tourism in India is growing per annum?
Foreign Tourist Arrivals on medical visa
The number of Foreign Tourist Arrivals (FTAs) coming to India on a medical visa has been on the rise over the past few years. The average growth rate has been around 55 percent, and it is expected to be maintained in the coming years.
Which state of India is leading in medical tourism?
The leading destinations of medical tourism in India are Andhra Pradesh, Karnataka, New Delhi, Kerala, Tamil Nadu, and Maharashtra. And among many Indian states, Andhra Pradesh is slowly getting hold of the top position.
What is the status of medical tourism in India?
Medical tourism is a growing sector in India. In mid–2020, India’s medical tourism sector was estimated to be worth US$ 5–6 billion. In 2017, 495,056 patients visited India to seek medical care.
How much is medical tourism worth?
The medical tourism industry is worth $439 billion… Take a deep breath… and think about that number.
How big is the medical tourism market?
The global valuation of the medical tourism market was pegged at US$ 61.3 bn in 2018 and is projected to rise at a CAGR exceeding 10.5% during the forecast period of 2019 – 2027. By 2027, the valuation is expected to touch US$ 154.4 Bn. Decisions by policy makers greatly shape the features of health care system.
Why is medical tourism increasing?
Medicinal tourism is expanding on a worldwide basis, with patients seeking cosmetic surgery in countries abroad. Cardiovascular surgeries abroad are increasing in demand with the growing obesity rates and rise in healthcare costs.
What’s the market estimate of medical tourism in India in the next year?
The size of the medical tourism market in India is expected to touch US $8 billion by 2020 from its current worth of US $3 billion. This is due to the costs for healthcare in the developed countries is getting higher.
What is meant by medical tourism Why is India emerging fast in medical tourism sector?
India has emerged as the most sought after destination by medical tourists because it has availability of world class doctors at affordable prices when compared to other developed countries of the world. Also, India has diversity of tourist destinations in the country.
When did medical tourism started in India?
In India, the history of medical tourism was also slowly unfolding with the popularity of yoga and Ayurvedic medicine. As early as 5000 years ago, constant streams of medical travelers and spiritual students flocked to India to seek the benefits of these alternative-healing methods.