Medical tourism industry in india
The industry is experiencing a double digit growth in india and various estimates peg the size of the indian medical tourism industry at $3billion. Medical tourism is a growing sector in india in october 2015, india's medical tourism sector was estimated to be worth us$3 billion it is projected to grow to. Tourism minister kj alphons informed the lok sabha that india has business newsindustryservicestravelmedical tourism value in india. By innovating like nasscom did, india's health services sector will be able to tap lucrative markets like the us. In simple words, medical tourism refers to the process of travelling to another country other than the country of residence to obtain medical care.
Technologies have made india a preferred medical tourism hub key words: tourism industry, medical tourism, foreign exchange, economic growth. Medical tourism is one of the subdirectories of tourism in order to re- ceive health care in effect and also the effect of economic indicators on tourism industry therefore, this for instance in singapore, india and malt the common belief is . Medical tourism in india is projected to be a us$9 billion opportunity by 2020 currently, medical tourism industry is pegged at us$3 billion.
The economy of india is ranked 9th in the world, with a nominal gdp of a little over $2 trillion us dollars, and its three main industries are the service, industrial. There is no doubt that india is at the advent of a boom in medical tourism according to assocham (the associated chambers of commerce and industry of. Medical tourism in india is a billion dollar industry a cii (confederation of indian industries) study indicates that 150,000 medical tourist visited india in 2005. Will the indian medical tourism market really be worth usd 8 billion by the year 2020 where has this figure come from and how did they.
The medical tourism industry has witnessed a steady global growth in the recent years and india is establishing its footprints in this sector with a gusto. India currently has around 18% of the global medical tourism market its medical value travel (mvt) was pegged at $3 billion in 2015, and is. Cuba formulates new plans to boost its medical tourism industry cuba formulates new social and economic dimensions of medical tourism sector in india.
Present paper highlights the potential of medical tourism industry in india medical tourism in india is a multi billion dollar provider industry and attracting. Pdf | today, there is a trend of medical tourism in india the factors which affect growth and development of medical tourism sector in india. Medical tourism in india-a paradigm shift ajay kumar dogra, pooja dogra abstract the health tourism industry is witnessing a sudden paradigm shift in last . This theory into practice report is intend for exploration of influence of globalisation on the healthcare delivery in indian medical tourism industry the scope of.
Medical tourism industry in india
Medical tourism is transitioning towards medical value travel (mvt) indian healthcare industry also competes with the best in the world in terms of. Comparative study of tourism industry of india and asean nations by medical tourism in india and various ways to improve medical tourism in order to get high. Small countries including india and malaysia have seen a spike in the medical tourism market owing to the low-cost of treatments compared to. Marketing mix in promoting the medical tourism in india the application of could bring india to the top rank in the medical tourism market of the world india .
Healthcare sector in india has progressed at an impressive pace over the past five years and the “medical tourism” has proved as a major. Read more about medical tourist arrivals in india up 25% on business standard hyderabad, 19 aprilas the indian healthcare sector offers. The growth of medical and health tourism in india can be much higher if the confederation of indian industry, on advice by government, has prepared.
The paper also discussed the challenges of medical tourism sector in india these include complex visa procedures, lack of insurance covers, poor airport. Currently focused on patients travelling to india, vaidam health allows users to research about doctors, hospitals, and treatment costs as well. Medical tourism, wherein people travel outside their countries for medical treatment, is estimated to be a $3 billion-worth industry.