Indian Medical Tourism Market: Opportunities and Threats

Our ancestors traveled to hot springs and other water bodies for their medicinal value. Rich and famous especially from developing nations have always traveled to advanced countries for the best treatment. But today, these journeys seem to have another purpose, holidaying, and are categorized as ‘medical tourism’. Another peculiarity is reversal of tourist traffic from developed nations to third world for cheaper treatment. But it is confusing how a sick person can be on a holiday and enjoy leisure like any other tourist. Ignoring this fundamental question, medical tourism is being promoted across the world.

Medical tourism, an unexplored segment, is still in its infancy in India. About one and half lakh tourists visited India in 2003 for special treatment and/or advanced surgery, as compared to one million to Thailand, and they have mixed response and experience. This figure increased by about 30,000 in the following year in India. They prefer India because it is affordable as compared to treatment in their own countries. Private hospitals are making deliberate efforts to attract medical tourists for better profits. The Ministry of Health and Family Welfare and the Ministry of Tourism have set up a task force to design a strategy for health tourism. However, popularity of traditional Indian medicines is no more a secret. Kerala has been offering ayurveda services from many years to both international and domestic tourists.

Opportunities
As per a study conducted by McKinsey & Company and Confederation of Indian Industry (CII) India can serve one million medical tourists every year and generate revenue ranging from INR 50 billion to INR 100 billion by 2012. Its biggest pull is lower costs even for advanced treatments. One pays a fraction of what one spends in the West. India can offer a bunch of services including ayurveda, homeopathy, mediation, yoga, and allopathy for better living and enhanced health benefits unlike any other medical tourism destinations.