Medical Tourism Set to Become USD 9BN Industry by 2020
Medical tourism is a phenomenon where people travel from their home country to another nation for the purpose of availing quality medical care. There are many factors which influence their decision, the most common one being the ability to access quality medical procedures which are not conducted within the boundaries of their home country. Having said that, while the quality of clinical care is the primary area of focus, the cost has and continues to also play a key role in positioning India as an attractive medical tourism destination.
With the advancements of the recent past, the Indian healthcare delivery system has made significant progress in terms of medical outcomes, ease of access and quality of patient care which along with favourable pricing has contributed to the growth of medical tourism in India.
As per FICCI, Indian medical tourism is expected to reach $6 billion by 2018, with the number of people arriving in the country for medical treatment doubling over the next four years. According to the Ministry of Commerce, India is the fastest growing medical destination in Asia with medical tourism in the country slated to become a 9 billion dollar industry by 2020. A recent report published by an industry association, states that India’s hospitals of global standards and our skilled specialists have given a sizeable boost to our country’s credibility as a preferred destination for patients from outside India. The medical expertise available in India and the resultant medical outcomes are talked about all over the world and consistently meet international benchmarks and standards.
Some significant factors for the substantial increase in medical tourism in India include lower costs of medical procedures, world-class expertise and treatment solutions, highly qualified doctors, rising ability of our clinicians in conducting complicated procedures, better technology, wider treatment options, lower logistics, accommodation costs and no waiting list as compared to their home countries. Over the last few years, India has made significant advances in high-end medical procedures and now offers comprehensive treatment across the entire spectrum of medical sciences. From the latest treatments like immunotherapy, TAVI and LVAD surgeries to heart and other organ transplants, India is definitely at par with the West in terms of adoption and implementation of cutting-edge technology and advanced medical procedures.
An additional striking aspect of Indian healthcare is the growing popularity of traditional and alternative medicine techniques such as yoga, Ayurveda, therapeutic healing, Siddha, Unani, acupuncture and homoeopathy. According to the Ministry of Tourism, the number of people entering India on medical visas jumped 166% in the last three years, from 75,688 in 2014 to 201,333 in 2016. As far as costs are concerned, according to media reports, if people needing treatment for medical conditions approach India instead of the US, they are likely to save considerably on their medical expenditure – Americans can get treated in India at a fraction, just 10 per cent of what they would incur in their home country. The savings on medical treatment in India are also significant compared to countries such as
Singapore, Mexico, Turkey, Malaysia, Thailand and Costa Rica. Pakistan, Bangladesh, Nepal, Afghanistan, and the Maldives are also major sources of medical value travel. Closeness to India and similar cultural ethos drive greater inflow of patients from these regions. It is also worth mentioning that an additional important criterion for servicing international patients is international accreditation from the Joint Commission International (JCI). Their standards must be met by hospitals in order to be accredited and serves to provide international patients with assurance and confidence in selecting hospitals for treatment.
The Government of India has also been proactive and helpful in the process of granting visas to international patients. With India being projected as one of the frontrunners in quality healthcare services today, it is estimated that the number of medical tourists would only increase in the coming years. This year, for instance, the Government of India made a special announcement during the Diwali festival in October 2017 that all pending medical visas will be cleared on priority. Several other initiatives have been launched by the government to encourage more patients from other countries to consider India for treatment and wellness programmes. Many existing government healthcare facilities have been upgraded and 49 additional cancer centres are planned to be set up.
The Ministry of Tourism also offers financial support to accredited medical and wellness tourism service providers. The Union Home Ministry presented some key statistics in Parliament – medical visas issued by India in 2016 had increased by 45% as compared to 2015. Nearly 1.80 lakh foreigners visited India in 2016 for medical treatment, up from 1.22 lakh the previous year. The facility of e-tourist visa has been taken forward to include short- term medical treatment as well. Exclusive immigration counters and facilitation desks have been set up at various Indian airports to provide required services to people. The government has also announced plans to introduce a separate policy to promote India as a key destination for medical tourism by promoting integrated treatment therapies combining traditional therapies with allopathic treatment. The Ministry of Commerce in coordination with the Ministries of Health and Tourism has launched a special website, www.indiahealthcaretourism.com which aims to be a one-stop shop with complete details for tourists.
Source: FICCI
