India is increasingly important in the international industry of medical tourism, also known as health tourism. By 2020, the medical tourism industry in India will more than double its current revenues of US $ 3 billion to US $ 8 billion, with a compound annual growth rate of 15.6%.
Indeed, foreign nationals in need of complicated treatments, surgeries and operations are increasingly choosing India as a destination for affordable prices and high quality medical services. In 2015, around 500,000 foreign nationals visited India for medical care.
India's growing health tourism market offers great opportunities for new investment in the private sector, as well as value-added travel, focused on a patient-oriented business model.
India is one of the cheapest destinations in the world for complicated treatments and surgeries. For example, in India, coronary bypass surgery costs only $ 5,200, compared to $ 144,000 in the United States and $ 15,121 in Thailand, India's largest regional competitor in medical tourism.
Despite these highly competitive prices, leading private hospitals in India offer globally recognized standards of care. A 2013 study published in the Harvard Business Review shows that India's affordable health care prices are not so much related to staff salaries, but to coordinated medical planning, which maximizes the use of expensive medical equipment and expertise. personnel, increasing productivity and reducing operating costs.
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