(Economic Times) What's medical tourism? How it can help Indian economy, trends, and challenges

Medical tourism involves traveling to another country for medical treatment, often due to lower costs, better quality care, or shorter waiting times. In India, this industry has witnessed exponential growth, driven by factors such as world-class medical facilities, skilled healthcare professionals, and cost-effective treatments.

India has emerged as a top destination for medical tourism, attracting patients from around the world seeking high-quality healthcare at affordable prices. The sector has become a powerful tool for promoting economic growth, enhancing healthcare accessibility, and strengthening international ties.

The market for medical tourism in India is substantial, with estimates suggesting it could reach billions of dollars annually. This growth is fueled by a diverse range of medical services offered, including cardiac surgery, orthopedics, oncology, cosmetic procedures, and alternative therapies such as Ayurveda and yoga.​

India's medical tourism industry is experiencing significant growth, anticipated to reach USD 18 billion by 2027 with a 19% compound annual growth rate (CAGR). The country is attracting international patients through cheaper yet world-class healthcare. Foreign tourist arrivals have rebounded strongly post-COVID, particularly from Bangladesh, Iraq, and Yemen. Cost-effective treatments and traditional therapies like Ayurveda and yoga enhance its appeal. 

To promote medical tourism, the Indian government has launched initiatives like 'Heal in India,' aiming to improve healthcare infrastructure and simplify visa procedures for foreign patients seeking treatment in India. This initiative is being promoted in partnership with the private sector, along with capacity building and easier visa norms. ​

Despite the promising growth, the medical tourism sector faces challenges such as regulatory hurdles, quality control, and the need for better coordination among stakeholders. Addressing these issues is crucial to sustaining growth and ensuring that India remains a preferred destination for medical tourists.​

In conclusion, medical tourism presents a significant opportunity for India to boost its economy, enhance its healthcare sector, and strengthen international relations. By leveraging its strengths and addressing existing challenges, India can solidify its position as a global healthcare hub.