Increased awareness and access to media to all age groups have driven many tourists to flock to India for its excellent medical treatment. Indian healthcare professionals and doctors are renowned across the globe for their reputation in the medical field and their skills. Most professionals hold multiple degrees and high positions in leading hospitals in the UK, US, and other western countries. According to IMS Health and FICCI, the Indian medical industry enjoys high credibility in diagnosis, prognosis, wellness, prevention as well as in alternative medicine.
The medical tourism industry in India is growing at a pace of 18 percent CAGR year on year and an estimated projection to be worth 9 billion by 2020. India holds 18 percent of the global medical tourism market and is anticipated to achieve 20 percent by 2020. According to the Medical Tourism Report, India has consistently grown globally in medical tourism due to its low cost and high-quality healthcare.
Why India and its global standing?
One of the primary catalysts contributing to this exponential growth can be attributed to the change of policy by the Indian government. Increased efforts and focus by the Ministry of Tourism to promote medical tourism among Indian diaspora as well as among foreigners through its embassies and consulates.
What was once an untapped industry of increased cash flow, has recently been identified and promoted with greater vigor and streamlined efforts by both government bodies and private healthcare centers.
Other influencing factors for growth can be rooted in the increased investment from private players as well as hospitals. In a country of over 1.4 billion people, private hospitals take a large chunk of market share across the country. Private healthcare centers, which include hospitals, clinics, health spas, Ayurveda, homeopathy, among others, enjoy the lion’s share of 74 percent of the revenue generated in this industry.
Advantages and Primary Reasons
India has the accreditation of 39 hospitals from the Joint Commission in the USA, which has added value to India’s standing in the global arena when it comes to quality healthcare services.
Some of the major factors include:
· Inexpensive treatment compared to Western countries like US, UK, and Australia
· Easy access to getting a visa for medical purposes.
· Access to significant and immediate medical attention, with little to no waiting list for surgeries.
· Although India is still a developing country and lags severely in health awareness amongst its populace, the country does have state-of-the-art medical services and access to the latest available technologies.
· Medical tourism clubs with an opportunity to visit some of the most alluring and serene places by taking tourists on a medical tourism trip.
· Healthcare physicians across the country have achieved, by and large, communicable level in English, which makes it easier for foreigners to correlate sufficiently to Indian doctors.
· Patients are provided with post-treatment recovery and alternate therapy such as Yoga, Ayurveda, and Naturopathy.
Cost and causation
It is common knowledge that India is one of the most affordable destinations when it comes to vacationing, education, and research. Similarly, medical treatments and surgeries cost only about a tenth of the cost in America and is considerably cheaper compared to other popular lost cost destinations like Thailand.
The above image gives a comparative cost of knee replacement, bone marrow transplant and dental implant costs in the US, Europe, Thailand, and India. Here, India ranks even below Thailand, which is generally known for its inexpensive medical treatments.
Major cities in India are well connected by road and air, with more and more airlines making provisions to travel to India easy and convenient. Besides, government regulations are kept to a minimum with little to no interference. As a country with natural healing through Ayurveda and other alternative therapy, getting medical treatment in India has more perks to it. Home to food lovers, the country offers a variety of cuisines, offering tourists an opportunity to dig into exotic food, inexpensive transport, accommodation, and high-quality treatments. This makes it increasingly valid and justifiable to choose India as their medical tourism destination to most people looking to travel overseas for their treatments at an affordable cost.
Texila Medicare in India
Often people find the most valuable information about the treatment and better facilities and physicians only towards the end of it. Finding an oncologist who is not only regarded best by hearsay but with factors to back them up is a challenge in a diverse region such as India.
Texila Medicare understands the necessity and bridges by providing personalized medical services that meets the best and most affordable therapy to international cancer patients.
The medicare company helps patients in scheduling your trip arrangements from A – Z making ample room for adequate adjustments of patient needs at any point time during this period. It offers a plethora of accredited network of hospitals and doctors with good standing in the medical profession. With best practices and affordability – the service goes one notch up for its ethical and transparent client servicing from the very beginning to the very end. Texila’s growth in the market of medical tourism in India is a testament to its growing partnership with the best Medical Service Providers across the country. With Texila American University Consortium as its backing, the company has a deeper understanding of the medical services it offers.