India as a Favoured Medical Value Destination
Stats Speak!
Medical tourism is considerably enhancing India’s developing economy. This medical travel industry in our country is currently valued at a whopping six billion dollars. This number is expected to only grow further and that too at a CAGR of 21.1% from the year 2020 to the year 2027. As per the Medical Tourism (2020-21) Index, India ranks tenth out of the top 46 countries. With an evidently outlined strategy, our country can gain a bigger share of this global medical market through their efforts towards medical value tourism. Let us look at our current standing seeing India as a favoured medical value destination!
Beyond Modern Medicine!
Our country has long been acknowledged as a distinctive spot in the world that brings ancient knowledge & health. In addition to standard medical practices, alternative medical streams such as Yoga, Siddha, Ayurveda, Homeopathy, Naturopathy, Unani, and Meditation are obtaining their much-deserved acceptance across the globe. A targeted approach to medical travel will help the Government of India promote the country as a holistic health destination providing both modern as well as alternative medical services.
Growing Medical Travels
Medically ill-fitting countries often seek India’s quality healthcare at affordable cost. People from all around the globe visit India for these ‘happy body & happy wallet’ medical services. This is a growing global trend that is likely to augment employment rate and drive foreign exchange earnings, thus supporting to economic growth & development.
The Government Is in It Too!
Creating awareness through government & industry initiatives is key to promoting India as a favoured medical value destination:
- Indian Government has launched “Heal in India” & “Heal by India” initiatives for promoting medical travel.
- The “Heal in India” initiative targets to put India in the centre as a global hub for medical & wellness tourism. For achieving this objective, medical infrastructure in around 37 hospitals across 12 different states in the country is being improved. This is strengthening the overall health system of the country and generating massive revenue.
- Under the “Heal by India” initiative, the Ministry of Health has been creating an online database of medical professionals. This database includes doctors, nurses & pharmacists. This is to position India as a global source of trained & competent medical manpower.
- The Confederation of Indian Industry (CII) in association with the Ministry of Health & Family Welfare is organising its annual event titled “Heal India, Heal India”. The event will have knowledge sessions on accreditation, qualified doctors, advanced medical technologies, hospitality, catering to foreign patients, collaboration and social responsibility. Aimed at highlighting the value of healthcare in our country, this event provides a platform for exhibitions & vendor meets for establishing business relationships, networking and introducing new products & services. Leading hospitals have the opportunity to showcase their medical services and engage with current & potential customers. CII is also conducting discussions & roundtables with Government & industry representatives to map out strategies for enhancing healthcare services and promote India as a favoured medical value destination!
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