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Sector Overview

Medical Value Industry is a growing sector globally, in 2021 it was estimated to have a market size of INR 3.9L crores around USD 49.6 billion and is expected to grow at a CAGR of 29.3 % to reach a market size of 15L crores around USD 192.9 Billion by 2026. Marketwise, 46% is dominated by Asia Pacific region including India i.e., USD 22.8 billion. Based on the Medical Tourism Index 2020-21, India is ranked 10th out of the top 46 countries, 12th out of the world’s top 20 wellness tourism markets and 5th out of 10 wellness tourism destinations in Asia-Pacific. Bangladesh, Iraq, Maldives, Afghanistan, Oman, Yemen, Sudan, Kenya, Nigeria and Tanzania account for about 88 per cent of the total international patients visiting India. The Medical Value Travel industry in India gets maximum patients for heart surgery, knee transplant, cosmetic surgery and dental care as the cost of treatment in India is considered to be the lowest in Asia, much lower than Thailand, Indonesia, Singapore and Hong Kong. The government has implemented various initiatives to push India’s rise as a hub of medical value travel through promotion of ayurveda, yoga and other Indian systems of medicine in the international market.

FICCI's Engagement

Medical Value Industry is a growing sector globally, in 2021 it was estimated to have a market size of INR 3.9L crores around USD 49.6 billion and is expected to grow at a CAGR of 29.3 % to reach a market size of 15L crores around USD 192.9 Billion by 2026. Marketwise, 46% is dominated by Asia Pacific region including India i.e., USD 22.8 billion. Based on the Medical Tourism Index 2020-21, India is ranked 10th out of the top 46 countries, 12th out of the world’s top 20 wellness tourism markets and 5th out of 10 wellness tourism destinations in Asia-Pacific. Bangladesh, Iraq, Maldives, Afghanistan, Oman, Yemen, Sudan, Kenya, Nigeria and Tanzania account for about 88 per cent of the total international patients visiting India. The Medical Value Travel industry in India gets maximum patients for heart surgery, knee transplant, cosmetic surgery and dental care as the cost of treatment in India is considered to be the lowest in Asia, much lower than Thailand, Indonesia, Singapore and Hong Kong. The government has implemented various initiatives to push India’s rise as a hub of medical value travel through promotion of ayurveda, yoga and other Indian systems of medicine in the international market.

To encourage applications and ease the travel process for medical tourists, the government has expanded its e-tourism VISA regime in February 2019, to include medical visas. The maximum duration of stay under this visa is 6 months. Since 30 August 2019, foreigners can receive any medical treatment in India with the exception of organ transplants without a medical visa.

Advantages of medical treatment in India include reduced costs, the availability of latest medical technologies, little to no waiting period, compliance on international quality standards, doctors trained in western countries including the United States and the United Kingdom, as well as English-speaking personnel, due to which foreigners are less likely to face language barrier in India. Most estimates found that treatment costs in India start at around one-tenth of the price of comparable treatment in the United States or the United Kingdom.

Team Leader

Ishan Pandita

Addl. Director

Team Leader

Praveen K Mittal

Assistant Secretary General

Timeline

2023
Aug
Press Release

Three-Day AHCI 2023 concludes with the participation of 400+ foreign delegates from over 70 countries, 110 exhibitors, 5000+ B2B meetings, 265 MoUs signed

Press Release

Global Digital Health Initiative One Step Closer To Achieve Universal Health Coverage: Prime Minister Shri Narendra Modi

Press Release

India's Medical Value sector projected to reach $ 13 billion by 2026: Dr Mansukh Mandaviya

Event

One Earth One Health – Advantage Healthcare India

Apr
Study

Healthcare Beyond Boundaries

Jan
Event

G20 1st Health Working Group Meeting

2022
Oct
Event

Meetings with G42 Healthcare

Aug
Event

Industry Delegation Visit to Kenya and Tanzania

2019
Nov
Event

Advantage Healthcare India 2019

2018
Dec
Event

Advantage Healthcare India 2018

2017
Oct
Event

Advantage Healthcare India 2017

Events

Aug, 2023

One Earth One Health – Advantage Healthcare India

Aug 17 - Aug 19, 2023 Mahatma Mandir Convention and Exhibition Centre, Gandhinagar, Gujarat

Jan, 2023

G20 1st Health Working Group Meeting

Jan 18 - Jan 20, 2023 Thiruvananthapuram

Oct, 2022

Meetings with G42 Healthcare

Oct 05, 2022 FICCI Federation House, New Delhi

Aug, 2022

Industry Delegation Visit to Kenya and Tanzania

Aug 16 - Aug 21, 2022

Nov, 2019

Advantage Healthcare India 2019

Nov 13 - Nov 15, 2019 India Expo Centre and Mart, Greater Noida (National Capital Region-NCR)

Dec, 2018

Advantage Healthcare India 2018

Dec 04 - Dec 06, 2018 Greater Noida, Delhi NCR

Oct, 2017

Advantage Healthcare India 2017

Oct 12 - Oct 14, 2017 Bengaluru

Chair

Dr. Ashutosh Raghuvanshi

Managing Director & Chief Executive Officer
Fortis Healthcare

Co-Chair

Mrs. Upasana Arora

Director
Yashoda Super Specialty Hospitals

Mentor

Dr Sangita Reddy

Joint Managing Director
Apollo Hospitals Group

Advisor

Dr Narottam Puri

Principal Advisor-QCI; Board Member & Former Chairman-NABH; Advisor-Medical Operations, Fortis Healthcare Ltd.

Manab Majumdar

Senior Advisor Civil Nuclear Energy, Energy Security, Biotechnology, Clinical Research, Membership

Three-Day AHCI 2023 concludes with the participation of 400+ foreign delegates from over 70 countries, 110 exhibitors, 5000+ B2B meetings, 265 MoUs signed

Detail Page

Global Digital Health Initiative One Step Closer To Achieve Universal Health Coverage: Prime Minister Shri Narendra Modi

Detail Page

India's Medical Value sector projected to reach $ 13 billion by 2026: Dr Mansukh Mandaviya

Detail Page