An emerging trend within India is a shift from traditional medical destinations to non-metro cities
India is gradually becoming a destination of choice for medical value travel (MVT) due to high quality healthcare offered to patients by world-class hospitals and facilities that have come up across the country.
Globally, MVT is estimated to grow at a CAGR of 17.9 per cent to $32.5 billion by 2019.
However, MVT in India will grow at a CAGR of 30 per cent to $10.6 billion in 2019 from $2.8 billion in 2014, according to a KPMG report
“Aster Medcity in Kochi has seen an exponential increase in medical value tourism with about 17 per cent of our business coming from this segment. This not only brings in incremental foreign exchange for the country but also helps strengthen the positioning of the country as a destination of choice. We expect this trend to increase further,” said Dr.Azad Moopen, Chairman, Aster DM Healthcare.
“In the next 20—40 years, India will become the global hub for medicine and surgery, because we have trained, skilled, super-specialists. The speed with which we receive medical care in our country also plays to our advantage,” said Dr. Rajam Krishnan Iyer, Consultant Pulmonogist.
Traditionally, the U.S., the U.K. and other developed countries have been the largest contributors in terms of medical tourists in India.
However, there is a shift in this trend with patients coming in from the Middle Eastern, SAARC and ASEAN countries. The specialities which are in demand for MVT include cardiology, orthopaedics (hip and knee replacement surgeries) and nephrology where savings for in-bound patients could range from 30 to 70 per cent.