Medical tourism is a term that has risen from the rapid growth of an industry where people from all around the world are traveling to other countries to obtain medical, dental, and surgical care while at the same time touring, vacationing, and fully experiencing the attractions of the countries that they are visiting.
India with advanced medical services paired with exotic natural bounties has become a heaven for medical tourists. The Medical Tourism Industry in India is poised to be the next big success story after software. The Confederation of Indian Industry (CII) and McKinsey have predicted that the industry will grow to earn additional revenue of $2.3 billion by 2012. 'Medical Tourism' can contribute Rs. 50 to 100 bn additional revenue for upmarket tertiary hospitals by 2012, and will account for 3-5 percent of the total healthcare delivery market, says the Confederation of Indian Industry (CII)-McKinsey study on healthcare.
The study has predicted that the industry will grow to earn additional revenue of $2.3 billion by 2012. Five years ago, hardly 10,000 foreign patients visited India for medical treatment. Today India is a key player in medical tourism with 100,000 foreign patients coming in every year and revenue of Rs.15 Billion. The current market growth-rate is around 30% per year and the country is inching closer to major players like Singapore and Thailand.
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