Challenges, Opportunities, Way ahead: Indian Medical Tourism 2016

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Telemedicon 2016 is soon going to be held at Bangalore. It’s a welcome step to allure the foreign medical tourists. According to some reliable Google source, medical tourism is one of the emerging sectors in Indian economy.

Although its contribution to GDP is not that remarkable in 2016, still the platform is steadily rising. It’s going to be more flavescent, azureus, utilitarian and rewarding in the coming years.

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Medical Tourism India 2016 Insight

Medical tourism is otherwise called universal healthcare or medical tripping as far as its dictionary jargons are concerned. It may be divided into either compulsory or optional travel. It’s a kind of tour where a foreigner travels to get some medical support in a foreign land.

As per the FICCI-KPMG report, the global medical value travel industry is to reach USD32.5 billion in 2019 which would result in enormous job creations in the core as well as allied fields of operations. The Indian wellness industry will grow at a CAGR rate of near about 30-35 % during the coming five years, says a recent research paper driven by FICCI and Ernst & Young. Indian medical tourism to touch Rs. 52,200 crore ($8 billion) by 2020 – according to DNA website.

Cosmetic surgery, Cardiology, Oncology, Orthopaedics, and Ayurveda will be the major focal points to attract the tourists from neighborhood countries like Russia UAE, Bangladesh, and conflict countries like Afghanistan, Iraq, Yemen, Sudan, the Democratic Republic of Congo (DRC), and Somalia. Chennai, NCR, Jalandhar, Mumbai are the metro cities which are emerging as latest medical hubs of Indian terrain due to medical infrastructures and availability of well qualified doctors and surgeons.

Every year, approximately 200,000 patients from the rest parts of the globe to get medical treatments which they are not finding at their own places. According to an industry-wide study, the Indian market is likely to reap $7-8 billion in revenue by next 14 years, more than double its current level. Going a step ahead, big private hospital chains like Fortis, Apollo, and Max have adopted a holistic wellness approach to provide intensive healthcare to the international patients. Chennai is now “India’s health capital”.

The reasons behind this Medical Tourism growth are many but a few pointers are illustrated down the line-

In India there are many top skilled physicians & expert certified practitioners. LPG growth in India has resulted in creating high-tech medical services at par with the western countries in a very low cost. The growth of hotels and travel agencies is also acting as a booster to the quantum growth of medical tourism. Moreover in India people are famous for their affluent English speaking abilities. Hence language is never a barrier for these trippers.

From Google, few important things related to ‘Advantage Health Care – India 2016’ are mentioned below for the readers: India is having well trained & caring nurses and paramedical staff along with modern medical devices. AYUSH is now widely practiced in the country. Absence of waiting time and rise of health care policies are some other advantages for this rapid growth.

But India needs to have a concrete agenda related to few problems of this industry which can be stated below:

We need to create more awareness through Conferences and Seminars so that the sector can grow globally. We need to give a more clarity to patients as far as hospital bills, procedures and other medical admission formalities are concerned. Telemedicine and digitalization should be given utmost priority. Quality of care and ease of travel should be facilitated to procure more revenue.

In the end, all the best.

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About Sanmay Rath 122 Articles
Sanmaya Rath is a training Head at Black Panther Guards & Services Pvt.Ltd, Bhubaneswar. Formerly Professor(Marketing),Krupajal & INC,Bhubaneswar. Visiting Prof.(IEP),FABS B-School Pvt.Ltd.,Bhubaneswar. Associated with 2COMS, Bajaj Allianz,Bharti Airtel.