India is emerging as one of the most credible destinations for curative treatment and has been rated highly on availability of experienced doctors and cost of treatment,fueling the growth of India’s Medical Value Travel (MVT) industry
The Federation of Indian Chambers of Commerce and Industry (FICCI),in association with QuintilesIMS, today launched a Knowledge Paper titled ‘Indian MVT- a value driven and patient centric initiative’, at the third International Summit on Medical Value Travel (MVT) – Advantage Healthcare India (AHCI 2017). As per the study,the Indian Government, along with other key stakeholders, have taken several steps to improve patient experience when he/she comes to the country for treatment.
Among other things, medical visa issuance process has been made much more efficient, thus reducing the time taken in visa procurement. The scope of e-tourist visa has been expanded to include short- term medical treatment. A special category named “e-medical visa” has also been introduced. Separate immigration counters and facilitation desks have also been set up at major Indian airports to boost the Medical Value Travel Industry.
The FICCI – QuintilesIMS study was commissioned in order to establish a robust unbiased view of MVT in India vis-à-vis other Asian and developed markets, to understand the factors that attract MVT patients, and to define guidelines that can possibly strengthen India’s position as the most preferred MVT destination in Asia. The study is an effort to bring together policymakers and stakeholders and help them work in conjunction to further strengthen India’s positon as a hotspot for MVT.
India has emerged as one of the major hubs for provision of care to MVT patients. With the given scale of healthcare infrastructure and the projected growth, India can further strengthen its standing among the currently popular MVT destinations such as Thailand, Singapore, Malaysia, and Mexico. Various initiatives taken by different stakeholders in the last year have further improved India’s chances of becoming a ‘provider to the world’.
|Key Facts:1. India is emerging as one of the most credible destinations for curative treatment and has been rated highly on availability|
2. To enhance availability of information and promote ‘Brand India’ among patients, a web portal called, www.indiahealthcaretourism.com, has been dedicated to MVT
3. Government, along with other key stakeholders have taken several steps to improve patient experience when he/she comes to India for treatment.
4. Medical visa issuance process has been made efficient thus reducing the time taken in visa procurement.
5. The scope of e-tourist visa has also been expanded to include short term medical treatment. A special category named “e-medical visa” has also been introduced.
Dr Harish Pillai – Co-Chair, FICCI Medical Value Travel Committee and CEO, Aster Medcity& Head – Kerala and Hyderabad Clusters, Aster DM Healthcare, said,“The knowledge paper that is being released by FICCI-QuintilesIMS on the occasion of this major summit of all stakeholders at Advantage Healthcare India in Bangalore captures the key milestones achieved thus far and highlights the bottlenecks and opportunities in the road ahead towards making India the No.1 preferred Asian MVT destination within the next 3 years.”
Amit Mookim, General Manager – South Asia, QuintilesIMS,said, “Last year, in the first edition of AHCI, we had published a report which identified Medical Value Travel in India as an initiative of strategic importance due to its ability to create employment, encourage cultural exchanges and improve standing of the country. This year, our report reflects on the progress made on key focus areas, which were identified for accelerated growth of MVT in India. Our 2017 survey has shown positive sentiment of foreign patients towards Indian healthcare. Though a few areas for improvement have emerged, India is well on the path to strengthening its position among the world’s leading destinations for MVT. Highly qualified doctors, state-of-the-art medical technologies and affordable high-quality healthcare are key elements that are working in India’s favor for bringing global medical travelers to India.”
India has emerged as one of the key MVT destinations in Asia with over 5,00,000 foreign patients seeking treatment each year.SAARC countries such as Bangladesh, Afghanistan, and Maldives are the major sources of medical value travel, followed by African countries such as Nigeria, South Africa and Kenya. Proximity, cultural connect and connectivity are the key reasons for inflow of patients to India from these regions.
Regarding the various types of treatments sought by MVT patients, India is considered a preferred destination for cardiology, orthopedics, transplant and ophthalmology in curative care. The country also enjoys high credibility in wellness and prevention and Alternative Medicine.
The medical value travel industry has emerged as one of the fastest growing segments of the tourism industry. Globally, the market is estimated at around USD 40-60 billion.To emerge as a preferred global destination for MVT, India needs to diversify its sources of medical travel and offerings to create a strong value proposition. Through adequate focus and effective execution, MVT in India can be a USD 9 billion opportunity by 2020.