India Medical Tourism Market Size
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Market Size (2024) | USD 7.69 Billion |
| Market Size (2029) | USD 14.31 Billion |
| CAGR (2024 - 2029) | 13.23 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
India Medical Tourism Market Analysis
The India Medical Tourism Market size is estimated at USD 7.69 billion in 2024, and is expected to reach USD 14.31 billion by 2029, growing at a CAGR of 13.23% during the forecast period (2024-2029).
The Covid-19 pandemic outbreak significantly impacted the India Medical Tourism Market, like the global healthcare industry. The pandemic led to widespread travel restrictions and lockdowns, severely limiting patients' ability to travel for medical treatment and resulting in a decline in medical tourism. The India Medical Tourism Market was also affected by decreased demand for non-essential medical procedures, as patients prioritized their safety and avoided unnecessary travel. Many medical facilities were also repurposed to treat Covid-19 patients, limiting the availability of medical services for foreign patients.
India became a popular destination for medical tourism due to its advanced healthcare facilities, skilled healthcare professionals, and lower costs of medical treatments compared to developed countries. The India Medical Tourism Market offers various medical services, including cardiac surgery, organ transplantation, cosmetic surgery, dental care, and traditional medicine. The Indian government implemented various policies and initiatives to promote medical tourism, such as streamlined visa processes and developing specialized medical tourism zones. In addition, India includes a large pool of English-speaking doctors and nurses, which makes it easier for patients from English-speaking countries to communicate with their healthcare providers.
India Medical Tourism Market Trends
Increase in the Number of Medical Tourists in India is Driving the Market
India saw a significant increase in medical tourists over the past few years. One of the primary reasons is the country's advanced medical facilities, which offer world-class treatments and procedures at a fraction cost of comparable treatments in other countries. This cost-effectiveness made India an attractive destination for patients seeking affordable healthcare. The country includes a large pool of highly trained medical professionals like doctors, surgeons, and nurses skilled in the latest medical procedures and techniques. This expertise and the country's advanced medical facilities made India a popular destination for specialized treatments such as organ transplants, cardiac surgeries, and orthopedic surgeries.
One of the most critical factors is low-cost treatment by esteemed hospitals in India. People usually look for similar treatment in nations that can provide it cheaper. Apart from that, in some countries, obtaining a visa requires a lengthy process. Due to the low-cost treatments available in India, it ranks at number 7 amongst the 20 wellness tourism markets, with over 560 lacs trips made to India for medical value tourism generating USD 16.3 billion in revenue. It also ranks at number 3 in wellness-focused countries in the Asia-Pacific.
Expansion of Healthcare Infrastructure in India is Driving the Marekt
India saw a significant expansion in its healthcare infrastructure over the past few years. This expansion is driven by public and private investment in healthcare and government initiatives to improve healthcare access and quality across the country. One of the key areas of expansion in healthcare infrastructure in India is the construction of new hospitals and healthcare facilities. Many new hospitals and healthcare centers were built nationwide, particularly in urban areas, to meet the growing healthcare service demand. These facilities are equipped with the latest medical equipment and technologies and staffed by highly trained medical professionals.
In addition to new hospitals, India saw an expansion in its healthcare workforce. The government launched several initiatives to increase the number of healthcare professionals in the country, including training programs for doctors, nurses, and other healthcare workers.
Another expansion area in India's healthcare infrastructure is the development of telemedicine and other digital health technologies. These technologies allow patients in remote areas to access healthcare services and consultations from doctors and specialists elsewhere in the country. It helped improve healthcare access and quality in underserved areas and made healthcare services more convenient and accessible for patients.
Overall, expanding healthcare infrastructure in India helped improve healthcare access and quality nationwide, making it easier for patients to access the necessary treatments and services. With continued investment and government support, India's healthcare infrastructure is poised for further growth in the coming years, which will help to improve healthcare outcomes for patients across the country.
India Medical Tourism Industry Overview
The Indian Medical Tourism Market is fragmented. Each country includes unique attractions and tourism offerings, resulting in diverse travel options for visitors. India's top medical tourism destinations are Mumbai, Chennai, New Delhi, Ahmedabad, and Bangalore. The major players in this market are Clinicspots, Vaidam, MediConnect India, Forerunners Healthcare, and Mediniq.
India Medical Tourism Market Leaders
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Clinicspots
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Vaidam
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MediConnect India
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Forerunners Healthcare
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Mediniq
*Disclaimer: Major Players sorted in no particular order
India Medical Tourism Market News
- January 2023: Alpine Health Systems launched a new AI-powered solution to streamline complex hospital discharge with OSF HealthCare and High Alpha Innovation support. The platform allows case managers to quickly identify at-risk patients and safely transition to an appropriate care site.
- August 2022: Apollo Hospitals Enterprise, India's first multi-specialty, announced the acquisition of a hospital asset in Gurugram from Nayati Healthcare and Research for a consideration of around INR 450 crore (USD 6.075 Million).
India Medical Tourism Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS AND INSIGHTS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Industry Value Chain Analysis
4.5 Industry Attractiveness - Porter's Five Forces Analysis
4.5.1 Bargaining Power of Suppliers
4.5.2 Bargaining Power of Buyers
4.5.3 Threat of New Entrants
4.5.4 Threat of Substitutes
4.5.5 Intensity of Competitive Rivalry
4.6 Insights on Key Trends and Recent Developments in the Market
4.7 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1 By Treatment Type
5.1.1 Dental Treatment
5.1.2 Cosmetic Treatment
5.1.3 Cardiovascular Treatment
5.1.4 Orthopedic Treatment
5.1.5 Neurological Treatment
5.1.6 Cancer Treatment
5.1.7 Fertility Treatment
5.1.8 Others
5.2 By Service Provider
5.2.1 Public
5.2.2 Private
6. COMPETITIVE LANDSCAPE
6.1 Market Concentration Overview
6.2 Company Profiles
6.2.1 Clinicspots
6.2.2 Vaidam
6.2.3 MediConnect India
6.2.4 Forerunners Healthcare
6.2.5 Mediniq
6.2.6 Global Treatment Services
6.2.7 Health Opinion
6.2.8 ANAVARA
6.2.9 Tour2India4Health
6.2.10 Apollo Hospital*
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. DISCLAIMER AND ABOUT US
India Medical Tourism Industry Segmentation
Medical tourism is traveling to another country to obtain medical treatment or procedures. It may be done for various reasons, such as seeking lower costs for medical care, accessing treatments or procedures that may not be available in one's home country, or avoiding long waiting lists for certain medical procedures.
India's Medical Tourism Market is segmented by treatment type (dental treatment, cosmetic treatment, cardiovascular treatment, orthopedic treatment, neurological treatment, cancer treatment, fertility treatment, and others) and service provider (public and private). The report offers market size and forecasts in value (USD) for the above segments.
| By Treatment Type | |
| Dental Treatment | |
| Cosmetic Treatment | |
| Cardiovascular Treatment | |
| Orthopedic Treatment | |
| Neurological Treatment | |
| Cancer Treatment | |
| Fertility Treatment | |
| Others |
| By Service Provider | |
| Public | |
| Private |
India Medical Tourism Market Research FAQs
How big is the India Medical Tourism Market?
The India Medical Tourism Market size is expected to reach USD 7.69 billion in 2024 and grow at a CAGR of 13.23% to reach USD 14.31 billion by 2029.
What is the current India Medical Tourism Market size?
In 2024, the India Medical Tourism Market size is expected to reach USD 7.69 billion.
Who are the key players in India Medical Tourism Market?
Clinicspots, Vaidam, MediConnect India, Forerunners Healthcare and Mediniq are the major companies operating in the India Medical Tourism Market.
What years does this India Medical Tourism Market cover, and what was the market size in 2023?
In 2023, the India Medical Tourism Market size was estimated at USD 6.79 billion. The report covers the India Medical Tourism Market historical market size for years: 2020, 2021, 2022 and 2023. The report also forecasts the India Medical Tourism Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Which segment dominates the Medical Tourism Industry in India?
The cardiovascular treatment segment dominates the Medical Tourism Industry in India.
India Medical Tourism Industry Report
India's medical tourism market is segmented by treatment type and service provider, offering a wide range of services. This market is experiencing robust growth, driven by its cost-effectiveness and high-quality healthcare facilities. Medical tourism market size is significantly impacted by popular segments like dental, cosmetic, and cardiovascular treatments, which attract numerous medical tourists. Enhanced by advanced healthcare infrastructure, including internationally accredited hospitals and a range of services from traditional Ayurveda and yoga to advanced procedures, the market's appeal is significant.
The government actively promotes medical tourism and wellness services globally, further boosting the industry. However, challenges such as negative quality perceptions and competition from Southeast Asian countries remain. Despite these, the industry benefits from comprehensive services provided by hospitals and wellness centers, supported by medical tourism companies in India that assist with treatment planning and logistics. This collaboration makes India a competitive player in the global medical tourism landscape.
Industry statistics indicate that the market is growing, with industry analysis showing a positive industry outlook. The market forecast suggests continued market growth, driven by industry trends and market value. Market segmentation helps identify key areas of growth, while the market overview provides insights into the market leaders and market data.
Industry reports and industry research are essential for understanding market predictions and market review. These reports, often available as a report pdf, offer detailed market outlook and industry information. Research companies play a crucial role in providing market insights, contributing to the overall industry size and industry sales.
In summary, India's medical tourism market is poised for significant growth, supported by a strong healthcare infrastructure and proactive government initiatives. The market's competitive edge is further enhanced by the comprehensive services offered and the collaboration between hospitals, wellness centers, and medical tourism companies.
India Medical Tourism Market Report Snapshots
