The money spent on worldwide medical tourism is expected to reach $5 billion by 2016, according to a writer for News 24, with much of that remaining in India. The writer called India the “next crown prince shaping the future of the healthcare industry.”
More than 27 million tourists from the United States, Canada and Great Britain visit India each year. Estimates suggest that health related services will grow at 5% per year over the next ten years. Global chains of hospitals like Apollo, Wockhardt, Max, Fortis & Tata are investing in modern hospitals with tourism related services to cater to a new kind of visitors from abroad.
More than 55% of foreign medical tourists chose hospitals in the major cities of Delhi, Mumbai or Chennai where, besides receiving a high-quality of hospital care, they can find quality hotels and other services.
The writer stated that hospital administrators and mangers of healthcare facilities in India are acutely aware of quality perceptions held by medical tourists, especially those coming from the West. As a result, most Indian hospitals meet U.S. standards set by the FDA and the Joint Commission for Accreditation for hospitals in order to dispel any concerns about quality and safety.
When compared with costs in the West, hip and knee replacements are far less expensive in Indian hospitals than they are in the U.S.—even when the costs of accommodation and travel are figured in. The writer estimated that the Indian medical tourism industry would grow at annual rate of 30% which would make it a $2 billion industry in that country alone by the end of 2015.
