Essential Picture of the Worldwide and Asian Medical Tourism and a Detailed Picture of the Indian Medical Tourism Industry Available Now

Business Wire, June 27, 2008

DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/research/abe605/medical_tourism_in) has announced the addition of the "Medical tourism in India" report to their offering.

The 'Medical Tourism in India' report focuses on the dynamics of the industry, the trends over a period of time and the different forms of medical treatments in India. The report also covers the cost differences between India and other countries in medical treatment, addressing the client needs.

About the Industry:

The midas touch of outsourcing has changed the booming Indian economy. Whether it's the information technology services or the investment consultancy, outsourcing is prevalent in majority of the industries. Medical treatment has also not been left far beyond in the race. Entry of private healthcare companies and emphasis on quality treatment has overhauled the state of medical industry in India. Additionally, implementation of basic infrastructure and adapting to technological sophistication has further improved the healthcare services. Indian pharmaceuticals also meet the stringent requirements of the USFDA. As a result, India is suddenly looked upon as the medical tourism hub of the world. Large numbers of foreign tourists, especially from countries like the US and Europe prefer to undergo medical treatment in India rather than their home country.

Research Methodology Used:

* Information Sources

The information has been gathered from authentic and reliable sources like Government Agencies, Trade associations, Trade journals, Industry portals Newspapers, White papers and Books. The data is also sourced from paid databases.

* Analysis Method

The methods of Historical Trend Analysis, Ratio Analysis, and Cause and Effect Analysis have been used.

Prospective Target Audience:

* Patients across the world

Scope of the Report:

The report covers a brief picture of the Worldwide Tourism Industry, Asia Tourism and a detailed picture of the Indian Medical Tourism Industry. It will focus on the dynamics of the Industry, the trends over a period of time, the different forms of medical treatment in India and what are the challenges and opportunities that the industry is facing. The report also covers the benefits of cost difference which the country can offer to lure tourists.

On the competitive landscape, the report lays out the major tour operators & hospitals that functions within the Indian industry and the strategies these companies are following to capture the major chunk of the market share. This will be followed by the regulations of the Indian government and its implications on the industry.

The concluding part of the report covers the future outlook of the industry. It will focus on the dynamics of technology, competition and government initiatives that will play a major role in shaping the future of the industry.

Medical tourism in a simple term is the practice of a patient "outsourcing" healthcare services to a foreign country. Medical tourism/travel is becoming more popular in some countries as bare necessity is preceding the overall benefits derived out of it. In some regions of the world, medical travel becomes a necessity as state-of-the-art medical facilities are difficult to access, if they exist at all. On the other hand, in some countries, the public health-care system is so overburdened that it can take years to get needed care. For instance, in Britain and Canada, the waiting period for a hip replacement can be a year or more, while in Bangalore, a patient can be in the operating room the morning after getting off a plane. Yet, for growing numbers of travelers, the lure of combining affordable medical care with an opportunity to travel to an exotic destination is a chief draw for packing a suitcase and boarding a plane.

The cost of surgery in India, Thailand or South Africa can be one-tenth of what it is in the US or Western Europe, and sometimes even less. For example, a heart-valve replacement that would cost $200,000 or more in the US would cost $10,000 in India including round-trip airfare and a brief vacation package. Similarly, a metal-free dental bridge worth $5,500 in the U.S. costs $500 in India, and Lasik eye surgery worth $3,700 in the U.S. is available in many other countries for only $730.

Outsourcing has become a part and parcel of the modern Indian economy. Whether it's the information technology services or the investment consultancy, outsourcing is prevalent in majority of the industries. Medical treatment has also not been left far beyond in the race. It is a recent entrant in India which cannot be undermined. According to a study by McKinsey and the Confederation of Indian Industry, medical tourism in India could become a $1 billion business by 2012. India has the technological sophistication and infrastructure to maintain its market niche when compared to other countries. Additionally, Indian pharmaceuticals meet the stringent requirements of the USFDA.

It is worth mentioning that inferior medical care in the third world country like India could possibly be a hindrance to the burgeoning medical tourism. However, the hospitals and clinics that cater to the tourist market in India often are among the best in the world, and many are staffed by physicians trained at major medical centers in the US and Europe. Apart from the above factor, many other parameters are making India one of the hot destinations for medical treatment.