India is always known for its tourism services and beautiful destinations. With time, India has gained an important position in the world’s medical tourism list too. A large number of medical tourists are congregating to India to receive the best treatments at a cheaper price. Moreover, in the last few years, Indian medical practitioners and doctors have made a good name around the world with their skillful treatments. Although the primes reason is cheaper medical expenses in here, our skilled Healthcare Service Providers has also made a big part of it too. All these have turned beautiful India into a medical hub growing radically with every passing year.
India – The Hub of Healthcare for Domestic & International Markets
India is one of the biggest providers of Healthcare for domestic and international markets – WHY?
As mentioned earlier, India is driving a higher number of medical tourists every year is predicted to drive double of that within the next few years. In comparison to European or other first world countries, India offers tertiary medical treatment at a much cheaper cost. People those are not capable to afford critical treatment in their home country, can get the same here in almost half the cost.
We have accumulated some reasons or major driving factors that has made India the bigger provider of Healthcare for domestic and international markets:
- In here, actions are taken immediately, even surgeries which is appreciated a lot by medical tourists.
- Healthcare Service Providers in India charges surprisingly low cost for treatment as compared to the first world or European countries.
- In India, the medical practitioners are not only skilled but are fluent in the English language too which inspires a good amount of English-speaking medical tourists. This ensures the patients to have an easier conversation with the doctors.
- India is also quite famous for post-treatment recovery care such as Ayurveda, Naturopathy and Yoga therapy which is much loved by the internationals.
- India offers world-class and standardized Healthcare for domestic and international markets with the latest technology and skilled practitioners.
- An Indian tourist visa is easy to get if applied with medical purpose.In India, some healthcare providers also offer medical tourist trip by taking the clients to some of the most alluring and awe-inspiring places.
The Revenue and Other Factsheets:
In the year 2017, the Indian Tourism Ministry has declared an estimate of ₹1,77,874 crore revenue generation through foreign exchange. The amount of estimate was predicted ₹1,35,193 crore for 2015 and ₹1,54,146 crore for 2016. Even The National Institute of Transforming India (NITI Aayog) has identified Indian Healthcare for domestic and international markets as a major source of foreign exchange revenue generation. Even as per FICCI facts and IMS Health data, India owns 18% of the total global tourism market. The estimated medical tourism industry worth is more than $9 billion. As per the MVT, the worth was $3 billion in 2015 which grew at a higher CAGR (Compound Annual Growth rate) every year. It is expected to grow the global market share of medical tourism by 20% by next year. India has been addressed as a big Healthcare Service Provider country in the world offering great treatment, prevention, wellness, and alternative medicines.
The datasheet presented by government authorities shows that a total of 4.95 Lakh of patients visited India in 2017. In 2016 it was 4.27 lakh and in 2015 it was 2.34 Lakh. So, we can see almost double growth in numbers within two years only. Along with European and US patients, many Bangladesh, Africa, and Afghanistan patients visit India to get medical facility every year. The numbers at every sheet are growing rapidly every year making India a rising and bigger Healthcare Service Provider.
These higher number is also a big reason that Indian Hospitals and healthcare brands are now inclining towards marketing. Such inclination has improved the healthcare marketing sector a lot and helping them to build a greater brand image across the glove.