• Send Us A Tip
  • Calling all Tech Writers
  • Advertise
Monday, July 14, 2025
  • Login
TechStory
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to
No Result
View All Result
TechStory
No Result
View All Result
Home Business

Will Healthcare Startups Make any Difference to Medical Tourism Industry?

by Ravi Virmani
October 19, 2016
in Business
Reading Time: 2 mins read
0
Will Healthcare Startups Make any Difference to Medical Tourism Industry?
TwitterWhatsappLinkedin

medical-tourism-industry

You might also like

China’s Maglev Train Hits 404 mph, Paving Way for the Future of Ultra-Fast Travel

SpaceX Injects $2 Billion Into Elon Musk’s AI Startup xAI Amid Broader $5 Billion Funding Push

Trump Threatens 30% Tariffs on EU and Mexico, Escalating Trade Disputes Ahead of August Deadline

Global Medical Tourism is estimated at $50 to 55 bn and is one of the fastest growing sector in the travel industry. India’s market size is estimated at $3bn and expected to grow at 15 to 17% CAGR in next 5 years.

Patients are attracted from around the world to India due to its cost effectiveness and outstanding clinical services. India provides lowest costs around the world with the best services, as per the report of the Medical tourism Market 2015. Considering overall quality of healthcare, India provides medical services similar to that in USA at 1/10th the cost. In the year 2015, more than 500,000 patients travelled to India for medical treatment.

In addition to alternative medicine like ayurveda and naturopathy, India is famous for tertiary care procedures like bone marrow transplant, cardiac bypass, eye surgery and orthopedic surgery. Recently, India is also gaining importance for bariatric surgeries and organ transplants. Top corporate hospitals in Delhi, Gurgaon, Mumbai, Chennai, Kolkata, Bangalore and other tier I cities are the ones attracting the patients from other countries to India.

Increasing internet penetration and number of people relying on online media to access healthcare information has led to easier access to hospitals and doctors across the globe. This compounded with mushrooming of healthcare startups has given a new shape to medical tourism industry in India.

Related Read: How One Can Realize The True Power Of IoT In Healthcare Applications !

Due to intangible nature of medical services as well as risk and uncertainty associated with it, potential medical tourists depend on information available on online portals. Given this, healthcare startups are interested in sharing detailed information about quality of medical services and personnel, expertise, costs and destination attributes, thereby increasing credibility and reducing uncertainty among tourists. With the help of healthtech startups like Credihealth they can read doctor/hospital credentials and compare them, get estimated cost of medical treatment, book online consultation, manage visa processes and get assistance during hospitalization.

Apart from information, another factor that online media has added to medical tourism industry is Electronic Word of Mouth (E-WOM). E-WOM refers to any positive or negative statements made by consumers in regard to services. Healthcare startups have seized this opportunity and built  platforms that shows collated feedback and reviews of the patients, thereby increasing their influence on travel intention.

India has a huge potential to emerge as an important destination in the areas of medical tourism and healthcare. With the onset of online healthcare and the growing hospital infrastructure, India has a long way to go in this industry with only an uphill journey further.

(Disclaimer: This is a guest article contributed on Techstory. All content as well as views expressed are those of the author. Techstory is not responsible or liable for any content in this article.)

Tags: healthcareHealthtechMedical Tourismstartupstechnology
Tweet54SendShare15
Previous Post

MakeMyTrip, Ibibo Announce Merger ; One of the Biggest Deal in India

Next Post

Infographic: How To Safely Recover Data From Your iPhone ?

Ravi Virmani

A successful business leader, Ravi Virmani is the Founder & Managing Director of Credihealth.com. Ravi is a serial entrepreneur and has a successful track record of managing renowned hospitals in Singapore and India. He comes with a deep understanding of the healthcare market.

Recommended For You

China’s Maglev Train Hits 404 mph, Paving Way for the Future of Ultra-Fast Travel

by Harikrishnan A
July 14, 2025
0
China’s Maglev Train Hits 404 mph, Paving Way for the Future of Ultra-Fast Travel

China has reached a major milestone in its quest to revolutionize high-speed transportation. In a recent test conducted at Donghu Laboratory in Hubei Province, a magnetic levitation (Maglev)...

Read more

SpaceX Injects $2 Billion Into Elon Musk’s AI Startup xAI Amid Broader $5 Billion Funding Push

by Harikrishnan A
July 14, 2025
0
Elon Musk Threatens “Thermonuclear Lawsuit” Against Media Watchdog Amid Ad Exodus on X

Elon Musk's artificial intelligence company, xAI, has received a significant financial boost with SpaceX contributing $2 billion as part of a larger $5 billion funding round, according to...

Read more

Trump Threatens 30% Tariffs on EU and Mexico, Escalating Trade Disputes Ahead of August Deadline

by Harikrishnan A
July 14, 2025
0
Trump Campaign Confirms Security Breach Amid Concerns of Foreign Interference

President Donald Trump is once again shaking up global trade by threatening to impose a 30% tariff on imports from two of the United States’ closest trading partners:...

Read more
Next Post
Infographic: How To Safely Recover Data From Your iPhone ?

Infographic: How To Safely Recover Data From Your iPhone ?

Please login to join discussion

Techstory

Tech and Business News from around the world. Follow along for latest in the world of Tech, AI, Crypto, EVs, Business Personalities and more.
reach us at [email protected]

Advertise With Us

Reach out at - [email protected]

BROWSE BY TAG

#Crypto #howto 2024 acquisition AI amazon Apple bitcoin Business China cryptocurrency e-commerce electric vehicles Elon Musk Ethereum facebook flipkart funding Gaming Google India Instagram Investment ios iPhone IPO Market Markets Meta Microsoft News NFT samsung Social Media SpaceX startup startups tech technology Tesla TikTok trend trending twitter US

© 2024 Techstory.in

No Result
View All Result
  • News
  • Crypto
  • Gadgets
  • Memes
  • Gaming
  • Cars
  • AI
  • Startups
  • Markets
  • How to

© 2024 Techstory.in

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?