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Thursday, May 21, 2015

Medical Travel Industry expected to grow at a CAGR of 17.9% from 2013-19 to reach USD 32.5 billion by 2019

The medical value travel industry has emerged as one of the fastest growing segment of tourism industry despite the global economic downturn. According to the FICCI-KPMG report, the global medical value travel industry was estimated at USD 10.5 billion in 2012. It is expected to grow at a CAGR of 17.9% from 2013-19 to reach USD 32.5 billion in 2019. 

FICCI in association with the Ministry of Commerce and Industry, Government of India and Services Export Promotion Council is organizing this international summit on medical value for promoting services exports from India. The objective of ‘Advantage Health Care - India 2015' is to promote India as a premier global healthcare destination and to enable streamlined medical services exports from India. This underlying objective is a unique conglomeration of the ‘5-Ts' – Talent, Tradition, Technology, Tourism and Trade. 

India is fast emerging as a preferred healthcare and medical destination across the globe. Growing at a compounded annual growth rate (CAGR) of 27%, the inflow of medical tourists in India is likely to cross 3.2 million in 2015. World class treatment and state of the art hospitals in India have created a very favourable atmosphere for patients with varying degrees of illness to avail the best facilities for their treatment. 

Through the summit India would be able to showcase its immense pool of medical capabilities to the world as well as create opportunities for healthcare collaborations between the participating countries. The international summit would bring together CEOs of leading private hospitals, Presidents of medical associations, Head of Government hospitals, Government officials from Ministry of Health who approve cases for medical travel abroad, Medical insurance company officials, Medical travel facilitators and Medical trade journalists.
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