Ask any of your elders today about the transformation in healthcare in India, and their cheeks will light up. It wasn’t long ago that Indians fled to the west when faced with ailments or disorders that need complex surgery or experimental therapies. And today, people from all over the world flock to India for treatment. At a time when excellent medical treatment is becoming increasingly difficult to come by in the West, the medical tourism Indian healthcare industry is making its presence felt throughout the world as a high quality and economically feasible option.
The increasing prevalence of lifestyle disorders, increased need for inexpensive healthcare delivery systems, technology improvements, the rise of telemedicine, rapid health insurance penetration, and government efforts such as e-health are driving the Indian healthcare industry.
The healthcare industry in India: An outlook
The Indian Healthcare technology sector was valued at $1.9 billion in 2020. It is predicted to reach $5 billion in just three years, by 2023. We observe similar patterns in the diagnostics industry. Which is expected to increase at a CAGR of 20.4% to $32 billion by 2022, up from $5 billion in 2012. Telemedicine is predicted to reach $5.4 billion by 2025. The National Digital Health Blueprint is estimated to unleash an additional $200 billion in economic value over the following ten years.
Already, India is the world’s pharmacy. And now, the Government’s Union Budgetary allocation of Rs.86,200 crores for the Ministry of Health and Family Welfare in 2022-23 would go a long way toward preparing India’s healthcare infrastructure for the predicted boom in Medical Value Travel (MVT).
A mix of infrastructural and human capital is driving this. India has the greatest pool of physicians and paramedics with advanced medical training and proficiency in English.
India boasts the most medical schools per capita in the world, and by 2022. It hopes to have a workforce of 1 million qualified healthcare professionals.
The one step MVT site is one of these projects. It intends to provide end-to-end support for medical tourists travelling to India and provide a seamless experience for them.
Patients and carers may do provider searches based on specialties, locations, hospitals, and even specific doctors. They have online access to clear price packages for traditional Indian medical systems as well as allopathy and integrative care. Additionally, they can book their journey through NABH authorised MVT Facilitators.
Three types of medical value travel to India are available to foreigners:
- Medical Treatment: Curative procedures like operations, organ transplants, joint replacements, cancer and chronic disease treatments.
- Wellness & Rejuvenation: Services aimed at aesthetic rejuvenation or stress relief. Medical Treatment: Curative procedures like operations, cosmetic surgery, joint replacements, cancer and chronic disease treatments.
Why do medical tourists choose to travel to India?
First off, there are significant financial savings. India offers top-notch medical care and treatment at a lesser cost than the US, saving between 65 and 90%. Westerners who could encounter lengthy wait periods or exorbitant fees for the identical operations in their own nations. Find India to be an attractive destination due to the country’s high quality and cheap cost combination.
The most recent developments in robotic surgery, radiotherapy, cyberknife stereotactic alternatives, IMRT/IGRT, transplant support systems, etc. have all been significantly invested in by Indian hospitals. India is also home to some of the world’s most recognised super-specialty hospitals and healthcare facilities, offering patients the most cutting-edge treatment choices possible employing cutting-edge technology like virtual reality, artificial intelligence, and holistic medicine.
The range of alternatives offered is another factor making India a desirable location for receiving medical care.
But the certainty of quality is what matters most in luring patients and their carers to India. The Ministry of AYUSH and the NABH both have representatives on the Board. Which serves as the overarching organisation that regulates and encourages medical travel.
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The QCI and its component boards, such as NABH, have made it feasible for India’s Quality Movement to continue raising the standard for the country’s healthcare system. The days when Indians had to leave the country for pricey medical operations are long gone. Instead, thousands of patients and their carers now visit India on their way to a better tomorrow, looking for reputable Indian institutions, service providers, and even individual physicians.