India Medical Tourism Market Size, Growth, Opportunities Analysis & Forecast to 2023-2027

Category: Business

Bharat Book Bureau Provides the Trending Market Research Report on “Medical Tourism Market in India 2023”under Consumer Goods Market Research Report Category. The report offers a collection of superior Market research, Market analysis, competitive intelligence and Market reports. India Medical Tourism Market Forecast to 2023-2027 Medical tourism refers to activities that involve a foreign visitor traveling and spending at least one night at the destination to rejuvenate, restore, or stay healthy through medical intervention. The key factors influencing people's decision to travel for medical treatment include the low cost of care abroad, the provider's cultural background, the shared language, and particular procedures unavailable in the home country. Market insights: The medical tourism market in India is expected to reach INR 2,670.37 Bn by 2027, expanding at a CAGR of ~34.92% during the 2023 – 2027 forecast period. India has become a center for medical tourism due to well-trained medical staff and doctors, access to cutting-edge medical equipment, and reasonably priced medical care. According to the Medical Tourism Index 2020–21, India is ranked 10th out of the top 46 nations, 12th out of the top 20 wellness tourism markets, and 5th out of the top 10 wellness tourism destinations in the Asia-Pacific. Impact of COVID-19: During India's nationwide lockdown due to a novel coronavirus outbreak, planned hospital operations decreased by up to 80%, while unplanned operations decreased by 66%. According to the Ministry of Tourism, foreign tourist arrivals for medical treatment in India fell by 73% in the calendar year ending December 2020, to 0.2 million, from 0.7 million in 2019. During FY 2021, medical tourism in India fell to nearly 33%. However, it reached 50% in FY 2022. Key growth drivers of the market: The affordability of high-quality treatment is undeniably the differentiating factor in medical tourism. Medical tourism is becoming a popular option for patients seeking shorter wait times, high-quality care, and a wide range of procedures at a reasonable cost. Medical tourism also allows one to travel to new places around the world. Key deterrents to the growth of the market: The most significant challenge is facilitating coordination between the various agencies responsible for the patient's care. There are significant hygienic and patient safety problems in the Indian healthcare sector. With one of the highest percentages of post-operative infections, Indian hospitals are infamous for their lax infection control standards. Browse our full report with Table of Content : https://www.bharatbook.com/report/1407866/medical-tourism-market-in-india About Bharat Book Bureau: Bharat Book is Your One-Stop-Shop with an exhaustive coverage of 4,00,000 reports and insights that includes latest Market Study, Market Trends & Analysis, Forecasts Customized Intelligence, Newsletters and Online Databases. Overall a comprehensive coverage of major industries with a further segmentation of 100+ subsectors. Contact us at: Bharat Book Bureau Tel: +91 22 27810772 / 27810773 Email: poonam@bharatbook.com Website: www.bharatbook.com