The medical tourism industry in India is estimated to be valued at US$ 10,362.9 million in 2024. It is projected to surpass US$ 50,670.5 million by 2034. The industry growth in India is expected to develop at a healthy 17.20% CAGR from 2024 to 2034.
Key Industry Drivers
In the post-pandemic era, individuals are increasingly becoming health-conscious. This has significantly pushed the demand for cost-effective and high-quality healthcare facilities, even if they have to travel abroad. Even before the pandemic hit the world, the trend of getting exclusive treatments done in developing countries had become a norm for the well-off population residing in developed economies. This has two advantages:
The medical tourism industry in India is also getting a lot of attention among European nations as it is known for offering a wide range of alternative therapies like Ayurveda and yoga. The government of India is also actively promoting these therapies on an international level, attracting more people to the country.
As per a cost comparison study by the American Medical Association, a knee replacement surgery somehow cost US$ 40,000 in the United States, US$ 10,000 in Thailand, and US$ 13,000 in Singapore. However, the same surgery, with better medical care and services, is very likely to cost around US$ 8,500 in India.
Compared to other developed and developing nations, the cost of living in India is also very reasonable. This makes the stay during prolonged treatments even more affordable. Better connectivity from all parts of the world to the Indian metropolitan is also contributing to the growth of the India medical tourism industry.
| Attributes | Key Statistics |
|---|---|
| Expected Base Year Value (2024) | US$ 10,362.9 million |
| Anticipated Forecast Value (2034) | US$ 50,670.5 million |
| Estimated Growth (2024 to 2034) | 17.20% CAGR |
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One of the key attractions for people traveling to India is the well-established wellness tourism industry in the different parts of the country. Alternative medical therapies, like Yoga, Ayurveda, naturopathy, meditation, Vipassana, etc., are also getting their undue recognition and appreciation from people worldwide.
The rise of destination management companies contributes to the growth of the India medical tourism industry. They assist in treatment planning, travel arrangements, visa assistance, language interpretation, and local support, enhancing the overall experience for medical tourists.
India, as a country, is also focusing on enhancing its medical infrastructure to cater to the demands of its population. This has significantly changed the face of India’s Medicare and healthcare sector in the past couple of decades.
The country now has 38 hospitals accredited by the Joint Commission International (JCI) and a significant amount of hospitals accredited by the National Accreditation Board for Hospitals and Healthcare Providers (NABH). This generates immense trust in the people looking forward to travel to India for their treatments.
The fact that India offers the most affordable medical services in the world also comes with a negative perception in the minds of the people that these services may be low-quality. This notion has dampened the growth of the medical tourism industry in India. Apart from this, India, in the last few decades, has always been the target of terrorist groups and organizations. This has created a sense of fear in the people looking forward to traveling to India.
Competition from other Southeast Asian countries, like Singapore, Thailand, and Malaysia, is also slowing down the India medical tourism industry. India’s healthcare industry also suffers from serious issues of hygiene and patient safety. Unlike other countries, there’s also a lack of a single unified body that works toward the betterment of the medical tourism industry in the country. All these factors are collectively contributing to the negative growth rate of the Indian medical tourism industry.
Principal Consultant
Two industries in the international marketplace, other than the India medical tourism industry, have the potential to have a plethora of opportunities in the coming decade. The growth factors and trends in the global medical tourism industry and global inbound medical tourism industry have been jotted down below. According to these numbers, it can be inferred that the inbound medical tourism industry is very likely to have a promising future in the coming decade.
India Medical Tourism Industry:
| Attributes | India Medical Tourism Industry |
|---|---|
| CAGR (2024 to 2034) | 17.20% |
| Industry Value (2024) | US$ 10,362.9 million |
| Growth Factor | Cost-effectiveness and world-class medical facilities and services offered by India’s different healthcare entities |
| Trends | The promotion of the wellness industry along with medical tourism on an international level by the government |
Inbound Medical Tourism Industry:
| Attributes | Inbound Medical Tourism Industry |
|---|---|
| CAGR (2024 to 2034) | 17.90% |
| Industry Value (2024) | US$ 102.8 million |
| Growth Factor | Increasing demand for telemedicine services, such as virtual post-treatment support and pre-travel assessments |
| Trends | Emergence of unique diagnostics, precision medicine, and robotic surgeries to attract new patients |
Medical Tourism Market:
| Attributes | Medical Tourism Industry |
|---|---|
| CAGR (2024 to 2034) | 12.70% |
| Industry Value (2024) | US$ 249,351.7 million |
| Growth Factor | The availability of advanced technologies and sophisticated physician training in developing countries |
| Trends | Insurance companies, in developed countries, are offering coverage for medical treatments abroad |
Based on treatment type, the industry for Indian medical tourism is segmented into dental, cosmetic, and cardiovascular treatments. The cardiovascular segment is anticipated to hold a share of 40.20% of the overall India medical tourism industry.
| Attributes | Details |
|---|---|
| Treatment Type | Cardiovascular Treatment |
| Industry Share in 2024 | 40.20% |
The presence of top cardiologists in India makes it a hub for cardiovascular treatments. Additionally, the advanced health infrastructure present in some of the major centers with international accreditation adds to its appeal.
Hospitals like the Fortis Escorts Heart Institute and Research Centre, Asian Heart Hospital, and Medanta Hospital are some of the key cardiovascular centers in Asia. They are pioneers in the field of cardiology and are also present in India. All these factors have contributed to the effective growth of India’s medical tourism industry in the past few years.
Based on the services, the wellness segment takes the maximum share of the India medical tourism industry. It is anticipated to hold an industry value of 61.50%.
| Attributes | Details |
|---|---|
| Services | Wellness |
| Industry Share in 2024 | 61.50% |
In the last few years, it has also been observed that people have actively traveled to India in quest of alternative medicine such as yoga, massages, and meditation. Many destinations in India, like Rishikesh, also known as the Yoga capital of the world, Varanasi, Kullu, Manali, Goa, etc., are some of the prominent hubs for wellness tourism and alternative medicine practices. Their immense popularity in the Western world has significantly contributed to the growth of the wellness tourism industry in India.
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The projected 17.20% CAGR for India’s medical tourism industry is a collective collaboration of numerous players, such as hospitals and healthcare providers, wellness centers, Ayurvedic resorts, destination management companies, tourism boards, etc. Apollo Hospitals, Fortis Healthcare, Max Healthcare, Medanta - The Medicity, Narayana Health, and Manipal Hospitals provide excellent healthcare facilities, especially when it comes to chronic diseases.
Ananda in the Himalayas, The Art of Living International Center, Somatheeram Ayurveda Village, Kairali Ayurvedic Group, Ayushakti Ayurved Pvt. Ltd., Osho International Meditation Resort are considered the pioneers of wellness centers in and around the world. These institutions are aided by insurance companies like ICICI Lombard General Insurance, Religare Health Insurance, and Paramount Health Services & Insurance TPA Pvt. Ltd. so that international patients can seek medical travel insurance coverage in India.
Recent Developments
The medical tourism industry in India is expected to be worth US$ 10,362.9 million in 2024.
The medical tourism industry in India is expected to reach US$ 50,670.5 million by 2034.
The India medical tourism industry is developing at a CAGR of 17.20% from 2024 to 2034.
Apollo Hospitals, Fortis Healthcare, Max Healthcare, Medanta - The Medicity, Narayana Health, Manipal Hospitals, etc., are some of the key players in the industry.
The valuation of the medical tourism industry in India was US$ 8,767.2 million in 2023.
1. Executive Summary 1.1. Market Outlook 1.2. Demand-side Trends 1.3. Supply-side Trends 1.4. Technology Roadmap Analysis 1.5. Analysis and Recommendations 2. Market Overview 2.1. Market Coverage / Taxonomy 2.2. Market Definition / Scope / Limitations 3. Market Background 3.1. Market Dynamics 3.1.1. Drivers 3.1.2. Restraints 3.1.3. Opportunity 3.1.4. Trends 3.2. Scenario Forecast 3.2.1. Demand in Optimistic Scenario 3.2.2. Demand in Likely Scenario 3.2.3. Demand in Conservative Scenario 3.3. Opportunity Map Analysis 3.4. Investment Feasibility Matrix 3.5. PESTLE and Porter’s Analysis 3.6. Regulatory Landscape 3.6.1. By Key Regions 3.6.2. By Key Countries 3.7. Regional Parent Market Outlook 4. Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 4.1. Historical Market Size Value (US$ Million) Analysis, 2019 to 2023 4.2. Current and Future Market Size Value (US$ Million) Projections, 2024 to 2034 4.2.1. Y-o-Y Growth Trend Analysis 4.2.2. Absolute $ Opportunity Analysis 5. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Treatment Type 5.1. Introduction / Key Findings 5.2. Historical Market Size Value (US$ Million) Analysis By Treatment Type, 2019 to 2023 5.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Treatment Type, 2024 to 2034 5.3.1. Dental Treatment 5.3.2. Cosmetic Treatment 5.3.3. Cardiovascular Treatment 5.3.4. Orthopedic Treatment 5.3.5. Neurological Treatment 5.3.6. Cancer Treatment 5.3.7. Fertility Treatment 5.3.8. Others 5.4. Y-o-Y Growth Trend Analysis By Treatment Type, 2019 to 2023 5.5. Absolute $ Opportunity Analysis By Treatment Type, 2024 to 2034 6. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Services 6.1. Introduction / Key Findings 6.2. Historical Market Size Value (US$ Million) Analysis By Services, 2019 to 2023 6.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Services, 2024 to 2034 6.3.1. Wellness Services 6.3.2. Therapeutic Services 6.4. Y-o-Y Growth Trend Analysis By Services, 2019 to 2023 6.5. Absolute $ Opportunity Analysis By Services, 2024 to 2034 7. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Tour Type 7.1. Introduction / Key Findings 7.2. Historical Market Size Value (US$ Million) Analysis By Tour Type, 2019 to 2023 7.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Tour Type, 2024 to 2034 7.3.1. Independent Traveler 7.3.2. Tour Group 7.3.3. Package Traveler 7.4. Y-o-Y Growth Trend Analysis By Tour Type, 2019 to 2023 7.5. Absolute $ Opportunity Analysis By Tour Type, 2024 to 2034 8. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Consumer Orientation 8.1. Introduction / Key Findings 8.2. Historical Market Size Value (US$ Million) Analysis By Consumer Orientation, 2019 to 2023 8.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Consumer Orientation, 2024 to 2034 8.3.1. Men 8.3.2. Women 8.3.3. Children 8.4. Y-o-Y Growth Trend Analysis By Consumer Orientation, 2019 to 2023 8.5. Absolute $ Opportunity Analysis By Consumer Orientation, 2024 to 2034 9. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Age Group 9.1. Introduction / Key Findings 9.2. Historical Market Size Value (US$ Million) Analysis By Age Group, 2019 to 2023 9.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Age Group, 2024 to 2034 9.3.1. 15-25 Years 9.3.2. 26-35 Years 9.3.3. 36-45 Years 9.3.4. 46-55 Years 9.3.5. 56-65 Years 9.3.6. 66-75 Years 9.3.7. More Than 75 Years 9.4. Y-o-Y Growth Trend Analysis By Age Group, 2019 to 2023 9.5. Absolute $ Opportunity Analysis By Age Group, 2024 to 2034 10. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Booking Channel 10.1. Introduction / Key Findings 10.2. Historical Market Size Value (US$ Million) Analysis By Booking Channel, 2019 to 2023 10.3. Current and Future Market Size Value (US$ Million) Analysis and Forecast By Booking Channel, 2024 to 2034 10.3.1. Phone Booking 10.3.2. Online Booking 10.3.3. In-Person Booking 10.4. Y-o-Y Growth Trend Analysis By Booking Channel, 2019 to 2023 10.5. Absolute $ Opportunity Analysis By Booking Channel, 2024 to 2034 11. Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 11.1. Introduction 11.2. Historical Market Size Value (US$ Million) Analysis By Region, 2019 to 2023 11.3. Current Market Size Value (US$ Million) Analysis and Forecast By Region, 2024 to 2034 11.3.1. North (India) 11.3.2. East (India) 11.3.3. West (India) 11.3.4. South (India) 11.4. Market Attractiveness Analysis By Region 12. North Market Analysis 2019 to 2023 and Forecast 2024 to 2034 12.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 12.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 12.2.1. By Treatment Type 12.2.2. By Services 12.2.3. By Tour Type 12.2.4. By Consumer Orientation 12.2.5. By Age Group 12.2.6. By Booking Channel 12.3. Market Attractiveness Analysis 12.3.1. By Treatment Type 12.3.2. By Services 12.3.3. By Tour Type 12.3.4. By Consumer Orientation 12.3.5. By Age Group 12.3.6. By Booking Channel 12.4. Key Takeaways 13. East Market Analysis 2019 to 2023 and Forecast 2024 to 2034 13.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 13.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 13.2.1. By Treatment Type 13.2.2. By Services 13.2.3. By Tour Type 13.2.4. By Consumer Orientation 13.2.5. By Age Group 13.2.6. By Booking Channel 13.3. Market Attractiveness Analysis 13.3.1. By Treatment Type 13.3.2. By Services 13.3.3. By Tour Type 13.3.4. By Consumer Orientation 13.3.5. By Age Group 13.3.6. By Booking Channel 13.4. Key Takeaways 14. West Market Analysis 2019 to 2023 and Forecast 2024 to 2034 14.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 14.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 14.2.1. By Treatment Type 14.2.2. By Services 14.2.3. By Tour Type 14.2.4. By Consumer Orientation 14.2.5. By Age Group 14.2.6. By Booking Channel 14.3. Market Attractiveness Analysis 14.3.1. By Treatment Type 14.3.2. By Services 14.3.3. By Tour Type 14.3.4. By Consumer Orientation 14.3.5. By Age Group 14.3.6. By Booking Channel 14.4. Key Takeaways 15. South Market Analysis 2019 to 2023 and Forecast 2024 to 2034 15.1. Historical Market Size Value (US$ Million) Trend Analysis By Market Taxonomy, 2019 to 2023 15.2. Market Size Value (US$ Million) Forecast By Market Taxonomy, 2024 to 2034 15.2.1. By Treatment Type 15.2.2. By Services 15.2.3. By Tour Type 15.2.4. By Consumer Orientation 15.2.5. By Age Group 15.2.6. By Booking Channel 15.3. Market Attractiveness Analysis 15.3.1. By Treatment Type 15.3.2. By Services 15.3.3. By Tour Type 15.3.4. By Consumer Orientation 15.3.5. By Age Group 15.3.6. By Booking Channel 15.4. Key Takeaways 16. Market Structure Analysis 16.1. Competition Dashboard 16.2. Competition Benchmarking 16.3. Market Share Analysis of Top Players 16.3.1. By Regional 16.3.2. By Treatment Type 16.3.3. By Services 16.3.4. By Tour Type 16.3.5. By Consumer Orientation 16.3.6. By Age Group 16.3.7. By Booking Channel 17. Competition Analysis 17.1. Competition Deep Dive 17.1.1. WorldViewer Dot Com (India) Pvt. Ltd 17.1.1.1. Overview 17.1.1.2. Product Portfolio 17.1.1.3. Profitability by Market Segments 17.1.1.4. Sales Footprint 17.1.1.5. Strategy Overview 17.1.1.5.1. Marketing Strategy 17.1.2. Top Travel & Tours Pvt. Ltd. 17.1.2.1. Overview 17.1.2.2. Product Portfolio 17.1.2.3. Profitability by Market Segments 17.1.2.4. Sales Footprint 17.1.2.5. Strategy Overview 17.1.2.5.1. Marketing Strategy 17.1.3. eLand Holidays Pvt. Ltd 17.1.3.1. Overview 17.1.3.2. Product Portfolio 17.1.3.3. Profitability by Market Segments 17.1.3.4. Sales Footprint 17.1.3.5. Strategy Overview 17.1.3.5.1. Marketing Strategy 17.1.4. ToursinTourist Agency 17.1.4.1. Overview 17.1.4.2. Product Portfolio 17.1.4.3. Profitability by Market Segments 17.1.4.4. Sales Footprint 17.1.4.5. Strategy Overview 17.1.4.5.1. Marketing Strategy 17.1.5. Forerunners Healthcare 17.1.5.1. Overview 17.1.5.2. Product Portfolio 17.1.5.3. Profitability by Market Segments 17.1.5.4. Sales Footprint 17.1.5.5. Strategy Overview 17.1.5.5.1. Marketing Strategy 17.1.6. Vaidam Health 17.1.6.1. Overview 17.1.6.2. Product Portfolio 17.1.6.3. Profitability by Market Segments 17.1.6.4. Sales Footprint 17.1.6.5. Strategy Overview 17.1.6.5.1. Marketing Strategy 17.1.7. Top Indian Holidays Pvt. Ltd. 17.1.7.1. Overview 17.1.7.2. Product Portfolio 17.1.7.3. Profitability by Market Segments 17.1.7.4. Sales Footprint 17.1.7.5. Strategy Overview 17.1.7.5.1. Marketing Strategy 17.1.8. Dynasty Tours & Travel. 17.1.8.1. Overview 17.1.8.2. Product Portfolio 17.1.8.3. Profitability by Market Segments 17.1.8.4. Sales Footprint 17.1.8.5. Strategy Overview 17.1.8.5.1. Marketing Strategy 17.1.9. CredihealthPvt. Ltd. 17.1.9.1. Overview 17.1.9.2. Product Portfolio 17.1.9.3. Profitability by Market Segments 17.1.9.4. Sales Footprint 17.1.9.5. Strategy Overview 17.1.9.5.1. Marketing Strategy 17.1.10. MediConnectPvt. Ltd. 17.1.10.1. Overview 17.1.10.2. Product Portfolio 17.1.10.3. Profitability by Market Segments 17.1.10.4. Sales Footprint 17.1.10.5. Strategy Overview 17.1.10.5.1. Marketing Strategy 17.1.11. Medmonks Medicare Pvt Ltd. 17.1.11.1. Overview 17.1.11.2. Product Portfolio 17.1.11.3. Profitability by Market Segments 17.1.11.4. Sales Footprint 17.1.11.5. Strategy Overview 17.1.11.5.1. Marketing Strategy 17.1.12. Mediniq Healthcare Pvt. Ltd. 17.1.12.1. Overview 17.1.12.2. Product Portfolio 17.1.12.3. Profitability by Market Segments 17.1.12.4. Sales Footprint 17.1.12.5. Strategy Overview 17.1.12.5.1. Marketing Strategy 17.1.13. Global Treatment Services Pvt Ltd 17.1.13.1. Overview 17.1.13.2. Product Portfolio 17.1.13.3. Profitability by Market Segments 17.1.13.4. Sales Footprint 17.1.13.5. Strategy Overview 17.1.13.5.1. Marketing Strategy 17.1.14. FrontEnders Healthcare Services Pvt. Ltd. 17.1.14.1. Overview 17.1.14.2. Product Portfolio 17.1.14.3. Profitability by Market Segments 17.1.14.4. Sales Footprint 17.1.14.5. Strategy Overview 17.1.14.5.1. Marketing Strategy 18. Assumptions & Acronyms Used 19. Research Methodology
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Trends, Growth, and Opportunity Analysis of Medical Tourism in India
