Moneycontrol

Budget 2023Budget 2023

PARTNERS

  • Tata AIA Life Insurance
  • Hafele
  • Motilal Oswal
  • SMC Global Securities Limited
  • SBI Life
  • DSP Mutual Fund
Upcoming Event : LeapToUnicorn - mentoring, networking and fundraising for startups. Register now
Budget 2023
Budget 2023
you are here: HomeNewsBusiness

India's medical tourism market expected to touch $9 billion by 2020: Report

As per the report titled ‘India: Building Best Practices in Healthcare Services Globally 2019’, the country is one of the preferred destinations for MVT, occupying the fifth position among 41 major medical tourism destinations as per Medical Tourism Index Overall ranking, 2016.

November 14, 2019 / 07:49 PM IST
Representative image

Representative image

India's market for medical tourism is expected to touch the $9 billion mark by 2020, according to a report released by the Federation of Indian Chambers of Commerce and Industry (FICCI) and Ernst & Young.

As per the report titled ‘India: Building Best Practices in Healthcare Services Globally 2019’, the rising costs of health care in developed countries such as the US and the UK will make India an affordable alternative in the coming years. The report also noted that the country is one of the preferred destinations for Medical Value Travel (MVT) as it occupies the fifth position among 41 major medical tourism destinations, as per Medical Tourism Index Overall ranking, 2016.

Major destinations in India

Delhi, Mumbai, Chennai, Bangalore, Hyderabad and Kolkata are the preferred destination cities for medical tourists arriving in India. Nearly 27 percent of India's medical tourists head to Maharashtra, out of which 80 percent go to Mumbai. Chennai attracts nearly 15 percent of the incoming foreign patients while Kerala handles around 5 percent to 7 percent.\