India medical tourism market is
anticipated to grow with an impressive CAGR in the forecast period,
FY2023-FY2027. The market is expected to grow with the projected cumulative
annular growth rate on the account of rising demand of affordable and efficient
healthcare services. The medical tourism in India is a recently expanding
market on the backbone of cheaper healthcare services available in the country
as well as the effective practitioners present in the department. Moreover,
travel expenses in and out of India is affordable and is effective for the
middle-class population is driving the India medical tourism market in the
subsequent five years. Government bodies and hospital industry is heavily
investing and with the effective policies by the government supporting the
medical tourism, the market is bound to experience effective growth in the next
five years. Finance sector have come up with effective medical insurance
schemes and even government has introduced various schemes that reimburses the
medical costs as well as supports the patients and their families for the
medical attentions that they require, these added benefits are driving the
growth of the India medical tourism market in the upcoming five years, until
FY2027. Furthermore, disposable income among the population that can afford
expensive treatments in the countries like United States and Canada, that have
better healthcare facility is also aiding to the growth of the India medical
tourism market in future five years.
The India medical tourism
market is segmented by type, treatment type, services, regional distribution,
top three state analysis, and competitional landscape. Based on type, the
market is differentiated between inbound and outbound medical tourism. Inbound
medical tourism involves the patients from outside India, visiting the country
for healthcare facility. Outbound medical tourism involves the patients from
India visiting other countries to avail healthcare facility. Inbound medical
tourism is anticipated to register largest revenue shares of the market and
dominate the market segment on the account of affordable and effective
healthcare facilities available in the country. Patients from the neighboring
countries like Thailand, Myanmar, Nepal, are often visiting the country for the
healthcare facility and the market is bound to experience due to these factors.
Outbound medical tourism is also expected to register significant growth in the
next five years, due to inclination of the population with their disposable
incomes to visit larger economies like United States for the top-tier
healthcare facility.
Some of the top players in
the India medical tourism market is GlobalCare Health, Vaidam Health Private
Limited, Digicore Technologies Pvt. Ltd. (ClinicSpots), We Care Health Services,
Mediniq Healthcare Pvt Ltd, Arinaa Medical Tourism Pvt Ltd, Medmonks Medicare
Pvt Ltd., Mediconnect India Pvt. Ltd., Alphine Life Solutions, Forerunners
Healthcare Consultants Private Limited, Global Treatment Services Pvt. Ltd., Al
Afiya Medi Tour Private Limited, Universal Health Help Private Limited, India
Medical Centre, TransEarth Medical Tourism, HealthOpinion, Anavara Limited, Tour2India4Health
Consultants Pvt. Ltd., TourMyIndia Pvt. Ltd., SafeMedTrip, among others. The
companies are involving themselves into research and development for more
advanced medical devices. With the evolving technology, it is appropriate to
say that the effective research and development of the technologically advanced
instruments and methods to satisfy consumer demands would support the market
growth and benefit the market players as well as the consumers. New market
players may focus on the research and development to provide such products and
services that satisfies the consumer demand as well as benefits the market
players in building their brand value. Other competitive strategies include
mergers & acquisitions and new product developments.
Years considered
for this report:
Historical Years: FY2017 – FY2020
Base Year: FY2021
Estimated Year: FY2022
Forecast Period: FY2023 – FY2027
Objective of the Study:
- To analyze the historical
growth of the market size of India medical tourism market from FY2017 to
FY2020.
- To estimate and forecast the market size of India medical
tourism market from FY2021 to FY2027 and growth rate until FY2027.
- To classify and forecast India medical tourism market based on type, treatment type, service, regional distribution,
top 3 states analysis, and competitional landscape.
- To identify dominant region or segment in the
India medical tourism market.
- To identify drivers and challenges for India medical
tourism market.
- To examine competitive developments such as
expansions, new product launches, mergers & acquisitions, etc., in
India medical tourism market.
- To identify and analyze
the profile of leading players operating in India medical tourism market.
- To identify key sustainable strategies adopted
by market players in India medical tourism market.
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TechSci Research performed both primary
as well as exhaustive secondary research for this study. Initially, TechSci
Research sourced a list of manufacturers, suppliers, and service providers
across the country. Subsequently, TechSci Research conducted primary research
surveys with the identified companies. While interviewing, the respondents were
also enquired about their competitors. Through this technique, TechSci Research
could include the manufactures which could not be identified due to the
limitations of secondary research. TechSci Research analyzed the manufactures,
distribution channels and presence of all major players across the country.
TechSci Research calculated the market
size of India Medical
Tourism market
using a bottom-up approach, wherein data for various end-user segments was
recorded and forecast for the future years. TechSci Research sourced these
values from the industry experts and company representatives and externally
validated through analyzing historical data of these product types and
applications for getting an appropriate, overall market size. Various secondary
sources such as company websites, news articles, press releases, company annual
reports, investor presentations and financial reports were also studied by
TechSci Research.
Key
Target Audience:
- Service providers, end users, and other stakeholders
- Distributers and suppliers of medical tourism and other
stakeholders
- Organizations, forums and alliances related to medical
tourism
- Market research and consulting firms
The study is useful in providing answers
to several critical questions that are important for the industry stakeholders
such as manufacturers, suppliers, end users, etc., besides allowing them in
strategizing investments and capitalizing on market opportunities.
Report Scope:
In this report, India Medical Tourism market has been segmented into
following categories, in addition to the industry trends which have also been
detailed below:
- India Medical Tourism Market, By Type:
- India Medical Tourism Market, By Treatment
Type:
o Orthopedic Surgery
o Cardiac Surgery
o Cancer Treatment
o Neurology & Neurosurgery
o Cosmetic Surgery
o Bariatric Surgery
o Fertility Treatment
o Others
- India Medical Tourism Market, By Service:
- Medical VISA
- Appointment Fixation
- Treatment/Check-up Packages
- Others
- India Medical Tourism Market, By Region:
Competitive Landscape
Company
Profiles: Detailed
analysis of the major companies present in India medical tourism market.
Available Customizations:
With the given market data, TechSci
Research offers customizations according to a company’s specific needs. The
following customization options are available for the report:
Company Information
- Detailed analysis and profiling of additional market players (up to
five).
India Medical Tourism
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