DUBLIN–(BUSINESS WIRE)–The “India Medical Tourism Market, By Type (Inbound v/s Outbound), By Treatment Type (Orthopedic Surgery, Cardiac Surgery, Cancer Treatment, Neurology & Neurosurgery, Others), By Service, By Region, Top 3 States, Competition Forecast & Opportunities, FY2027” report has been added to ResearchAndMarkets.com’s offering.
India medical tourism market is anticipated to grow with an impressive CAGR in the forecast period, FY2023-FY2027
The market is expected to grow with the projected cumulative annual growth rate on the account of rising demand of affordable and efficient healthcare services. The medical tourism in India is growing due to cheaper healthcare services available in the country as well as India having large number of well educated and experienced medical practitioners.
Moreover, travel expenses in and out of India is affordable and is effective for the middle-class population is driving the India medical tourism market in the subsequent five years. Government bodies and hospital industry is heavily investing and with the effective policies by the government supporting the medical tourism, the market is bound to experience effective growth in the next five years.
Finance sector have come up with effective medical insurance schemes and even government has introduced various schemes that reimburses the medical costs as well as supports the patients and their families for the medical attentions that they require, these added benefits are driving the growth of the India medical tourism market in the upcoming five years, until FY2027.
Furthermore, disposable income among the population that can afford expensive treatments in the countries like United States and Canada, that have better healthcare facility is also aiding to the growth of the India medical tourism market in future five years.
Based on type, the market is differentiated between inbound and outbound medical tourism. Inbound medical tourism involves the patients from outside India, visiting the country for healthcare facility. Outbound medical tourism involves the patients from India visiting other countries to avail healthcare facility. Inbound medical tourism is anticipated to register largest revenue shares of the market and dominate the market segment on the account of affordable and effective healthcare facilities available in the country.
Patients from the neighboring countries like Thailand, Myanmar, Nepal, are often visiting the country for the healthcare facility and the market is bound to experience due to these factors. Outbound medical tourism is also expected to register significant growth in the next five years, due to inclination of the population with their disposable incomes to visit larger economies like United States for the top-tier healthcare facility.
The companies are involving themselves into research and development for more advanced medical devices. With the evolving technology, it is appropriate to say that the effective research and development of the technologically advanced instruments and methods to satisfy consumer demands would support the market growth and benefit the market players as well as the consumers.
New market players may focus on the research and development to provide such products and services that satisfies the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
Some of the top players in the India medical tourism market are
Report Scope:
Years considered for this report:
India Medical Tourism Market, By Type:
India Medical Tourism Market, By Treatment Type:
India Medical Tourism Market, By Service:
India Medical Tourism Market, By Region:
For more information about this report visit https://www.researchandmarkets.com/r/2pk8ol
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