India as the Most Cost-effective Healthcare Destination Creating Cross-sectoral Impacts

India’s healthcare and wellness industry has grown significantly in the last few years. The Covid 19 pandemic has proved its resilience and overarching capabilities across the globe in the tough time and added around 2.7 million additional jobs in the sector between 2017-22. To promote healthcare tourism with much more enthusiasm in the post-Covid world, the government is progressing forward with a long-term vision that collaborates a multi-sectoral approach for economic growth.

The encouraging trends in the medical and tourism industry have pushed the formulation of the National Strategy and Roadmap for Medical and Wellness Tourism to project India as a Mean Value Travel destination across the world. It will focus on the maintenance, improvement, and restoration of health through medical intervention under modern science.

The increasing investor interest and FDI flow in the sector are also testimony to India’s proactive initiatives for building a cohesive world-class healthcare ecosystem. India is the fastest emerging medical Tourism Hub in the world with more than 10 lakh medical visas issued between 2019 and 2022 for cost-effective quality medical services.

Being the world’s largest supplier of generic drugs, and largest producer of vaccines, India is ready to cater to the value of money medical and post-care needs of foreign patients. The global medical tourism market has also expected to become worth US$ 72 billion and India is supposed to reach the level of US$ 50 billion by 2025. This will be in line with the government’s vision to further develop world-class healthcare infrastructure in the country.

The progressive healthcare startup ecosystem of India is also actively supporting the trend with technology-led innovations in the field of monitoring apps, AI-powered monitoring tools to detect illnesses, etc. Besides this, the growth of telemedicine enables the connection of patients and doctors at their fingertips for post-medical care facilities.

With a network of more than 600 international and nationally accredited hospitals, India is fulfilling its promise to provide world-class quality yet cost-effective treatment to foreign patients. It is creating new opportunities for business and growth of other sectors such as infrastructure, pharmaceutical, electronic medical devices, tourism, hospitality, technology, etc to significantly contribute to the overall growth of the Indian economy.