'India Is A Leading Market In Organ Transplantation'
Strong hold of the country in organ transplantation and ayurvedic treatment has helped India to attract patients across the border, says Swadeep Srivastava
Photo Credit : Tarun Gupta
The head of the Apollo Liver Transplant, Indraprastha Apollo Hospital, Dr Neerav Goyal said that India is a leading market in terms of organ transplantation in the world while speaking at 4th BW Businessworld Healthcare Summit & Awards at Hyatt Regency, New Delhi.
Being part of the panel discussion on Medical Tourism, Goyal threw light on the existing challenges India is facing with respect to attracting patients from all over the globe. He emphasized that we need to focus on non-medical infrastructure if we intend to become a global destination for patients coming from developing as well as developed nations.
The market size of the medical travel industry in India is expected to reach $3 million by 2023. Currently, it is booming at a Compound Annual Growth Rate (CAGR) of 25 per cent. The cities which attract global patients the most are Chennai, Delhi, Bangalore, Ahmedabad etc.
According to Swadeep Srivastava, Managing Partner at India Virtual Hospital and moderator of the panel, the biggest factor why India has remained a global platform for patients coming from abroad is the fact that we provide them with the treatment at 1/10th of the cost in comparison to other countries such as the US and the UK.
"Other than this, quality and quantity of hospitals we provide them with, is yet another rationale answering why we have enabled to make this industry bloom," he added.
Srivastava also added that the strong hold of the country in organ transplantation and ayurvedic treatment has helped India to attract patients across the border.
India draws around 2 to 3 lakh patients per annum as compared to Bangkok which attracts 10 lakh patients per year.
Digambar Naik, Head of Cardiology at Razagiri Victor Hospital, pointed out the various problems existing in the industry from having a need to develop standards to the importance of 'word of mouth'.
Naik said, "All great hospitals need not be good." There are myriad of factors which need to be considered such as coordination, cooperation and knowledge sharing among others.
Tarun Sahni, Sr. Consultant & President at Hyperbaric Society of India, explained that India facilitates patients with compassion. Easy accessibility, excellent value for money and a friendly environment are the reasons for the growth of this industry.
Concluding the panel discussion, Amaresh Tiwari, Treasurer at The Indian Association of Tour Operators (IATO), spoke about the problems with VISAs, Insurance policies and the requirement of Indian medical and wellness to go hand in hand.