Abstract

Medical tourism is the across-border travel for healthcare services by patients from various European and Asian countries. India is one of the preferred choices for medical treatments being the low-cost healthcare service provider along with the holistic quality care. Globalization and Liberalization are two important factors leading to the potential growth of the medical tourism market all over the globe.The current study undertakes the evaluation of potential factors for the growth of the medical tourism market in the country like cost benefits, qualified and expertise pool of medical staff, certification and accreditation and role of government in it. Based on these opportunities evaluation the strategy necessary for the exponential growth of the market is recommended. The medical tourism market is growing at a high pace of 30% yearly. The study aims to focus on the strategy to boost the economy of the country through the growing medical tourism market.Indian medical tourism market has been valued at US$ 2.89 billion in the year 2020 and the country has been ranked 10th out of world’s top 46 counties for medical tourism by the Medical Tourism Index 2020–2021. Thus, the paper highlights the in-depth analysis of growth drivers to boost the economy of the country through the exponential growth of medical tourism market.