India has been hailed as a top choice for medical tourists around the world. The industry of Medical tourism in India has a reported CAGR (compounded annual growth rate) of around 200% at present. People from around the globe are flocking to Indian healthcare institutions like never before. By 2020 this industry is going to reach $ 9 billion marks in valuation.
The CAGR of medical tourism in India doesn’t really come as a surprise to the citizens, considering that the country is birth-place to the world’s most ancient medical practices viz. a viz. Ayurveda, yoga, naturopathy etc. Comparatively lower per capita income in the country has somehow led to cheap healthcare.
Due to the adoption of neo-liberal policies by the Government, the healthcare industry has seen a major inflow of private investments. Private investments come with corporate sentiments of profit maximisation. The phrase profit maximisation does not go well with healthcare services; however, it has been a significant incentive for infrastructural growth.
Top-notch medical and diagnostic technology has been an integral part of this growth. Medical infrastructure of India is in no way inferior to the global standards if not better. Heavy medical equipment from top manufacturers around the world is only a part of what India has to offer in the field of medical tourism.
A recent Indian start-up; Lybrate for doctors, is bridging the gap completely between patients and doctors. You can seek medical consultation on the app for free. They plan to further patient engagement with medical professionals.
Pocket-friendly attribute of services and medicines are a major selling point in this context. To put things in perspective, a surgery that would cost more than $100,000 in the USA will only cost $7000 in India without compromising in any way on the quality of services provided.
If you are a doctor and planning to start a hospital or a healthcare centre, lenders can provide you with loans for doctors that cater to every requirement you may have. You can also use the funds to implement practice management software according to your needs.
There have been reports of people going bankrupt after availing a major surgery or treatment in the USA. Citizens have expressed their grievances against the greed of pharma companies pricing their medicines so high that people would rather hold on to the money than buying medicine.
List of top 4 medical tourism states in India:
- Maharashtra- The state alone accounts for more than 25% of the total medical tourism traffic from around the world. Most of the country’s richest people live in Mumbai. Therefore it is imperative for the state to maintain top-shelf medical care facilities.
- Cosmetic surgery
- Orthopaedic surgery
- Bombay Hospital and Medical Research Centre
- Kokilaben Dhirubhai Ambani Hospital and Medical Research Centre
- Lilavati Hospital and Research Centre
- Tamil Nadu- Chennai is a popular destination for people within the country opting for medical tourism. This is due to the cheap and state-of-the-art facilities in the city. Nearly 40% of the patients who come to India, choose Chennai because of its pocket-friendliness.
- Cardiac medicine
- Global hospitals
- Apollo Gleneagles Hospitals
- Sri Ramachandra Medical Centre
- New Delhi- The capital of India slowly aiming to be the Medical Tourism capital of the country.
- General surgery
- Heart cand surgery
- Sir Ganga Ram Hospital
- Rockland Hospital
- BLK Super Speciality Hospital
- Goa- An already popular destination among foreigners. This state is probably the most famous tourist spots in India, now famous for medical tourism as well.
- Cancer Care
- Cardiac sciences
- Plastic surgery
- Vision Multi-speciality Hospital
- Wockhardt Hospital
- Apollo Hospital Enterprises Ltd.
If you want more information about medical tourism in India, you should read a doctor’s guide on medical tourism.
There are 29 states in India, each with specialised healthcare units. There is a vast scope for medical tourists in India. The onus is on the professionals and as much on professionals.