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NEW DELHI: Medical tourism, billed as the next most important growth engine in the healthcare sector, has got a short in the arm after Union tourism minister Ambika Soni recently announced that a total investment of $6.5 billion is in the pipeline for medical tourism industry in the country. The amount will be used for setting up affordable hospitals and budget hotels for patients? relatives in the country, she added.
The announcement assumes importance as Indian private hospitals are increasingly finding a mention in the travel itineraries of foreigners, with the trend of medical tourism catching up in the country. If industry estimates are to be believed, the size of the medical tourism industry stands at Rs 1,200-1,500 crore (Rs 12-15 billion). The Indian healthcare market is Rs 15 billion and growing at over 30% every year.
?The trend is positive and there?s a great opportunity to leverage the ?low-cost, high quality model? that India offers. If you see around the world, there?s a problem with healthcare infrastructure everywhere. While there?s a problem of insurance cover in the US, UK and Canada have a long waiting time. These put a lot of stress on patients and India fits the bill for its value for money expertise. The tie-up with the ?Incredible India? campaign and start of medical visas will go a long way in promoting India as the best healthcare destination,? says Dr Anupam Sibal, group medical director, Indraprastha Apollo, New Delhi, which has seen a steady rise in patient volumes from abroad.
The rising volume of foreign patients is also expected to provide impetus to the tourism industry. K B Kachru, country head, Carlson Group, highlights that the benefit to tourism industry could be of the order of Rs 1,000 crore (Rs 10 billion). ?NRIs, Asians and tourists from around the world are beginning to realise the potential of modern and traditional Indian medicine. Health and medical tourism is perceived to be one of the fastest growing segments in marketing ?Destination Incredible India? today. While this area has so far been relatively unexplored, we now find that not only the ministry of tourism but also various state tourism boards are promoting health and medical tourism as a segment with tremendous potential for future growth,? he says.
Of course, the opportunity is knocking on the door, but there?re some legal and infrastructural bottlenecks which have to be addressed immediately. Healthcare experts feel that the medical tourism industry faces a lot of legal implications, mainly by the doctors, while treating foreign tourists. The hospital management needs to be more transparent and ensure that profile of doctors are easily made available. Also, issues such as accreditation, quality care, transparency in pricing and easy visa rules are lacking at the moment, they add.
Commenting on problems faced by the medical tourism industry, Ms Soni feels that the biggest deterrent for foreign investors is the unavailability of a single window clearance system. The government is working towards making a system in which investing in India becomes easier, she added.
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