Medical Tourism - #SectorUpdates
Medical tourism is one of India’s fastest-growing industries, with a recently estimated valuation of USD 6 billion. In the years to come, it is anticipated that these figures would increase dramatically. India is establishing a solid reputation as the “global medical destination” due to its competitive pricing in imparting medical services compared to other countries, highly skilled medical fraternity, and low language barriers due to the widespread English fluency across the nation. India is also gaining a lot of interest and trust from the global healthcare service industry. The medical tourism sector in India began to take off at the beginning of the previous decade as more private hospitals began reaching out to neighboring nations to serve their patients. These neighboring regions now send about 2 million patients to India each year, generating USD 4 billion in annual forex each year. But things appear much more promising for the future. The Government is making every effort to position India as the top medical tourism destination in the world, with plans to triple the market to USD12 billion within the next four years and establish a new sector that would support millions of jobs nationwide.