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
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.
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
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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
