Indian medical tourism: Growth, challenges and opportunities

Medical tourism is a new form of a niche tourism market which has been rapidly growing in the recent years. It is becoming a popular option for tourists across the globe. The term medical tourism, alternatively called health tourism and wellness tourism, that has risen from the rapid growth of an industry where people from all around the world are traveling to other countries to obtain medical, dental, and surgical care while at the same time touring, vacationing, and fully experiencing the attractions of the countries that they are visiting. India offers world class medical facilities, comparable with any of the western countries. India has state-of-the-art hospitals and best-qualified doctors. With the best infrastructure, the best possible medical facilities, accompanied with the most competitive prices, one can get the treatment done in India at the lowest charges. Medical Tourism in India is currently generating around US$ 2 billion in revenues and expected to generate around US$ 3 billion by 2013, with the number of medical tourists to grow at a CAGR of over 19 per cent during 2011–2013 to reach 1.3 million by 2013. India's share in the global medical tourism industry is predicted to be around 3 per cent by the end of 2013 -according to a report by research firm RNCOS, released in December 2010. This paper focuses on the structure, growth, challenges and opportunities possessed by Indian medical tourism sector that enable it to overcome domestic and international barriers on upgrading its medical services. Finally, this paper analyses and concludes with suggestions for attracting more foreign tourists for the medical treatment in India.