Price is a major component when it comes to medical treatment and if we talk about the medical tourism in India; it’s certainly an attraction for tourist. India delivers best in class medical facilities which is very cost effective if compared to other developed nations. Observing these factors and current medical tourism market in India, Grand Thornton recently released much hyped news that Indian medical tourism sector is vastly growing and might touch the figure of 8 billion dollars by 2020.
On the other hand, if we observe the latest 2015 KPMG analysis report in India then it presents some different figures. Its report says that by 2019 the Indian medical value travel market can touch the figure of 10.6 billion dollars, which lot more than what is estimated by Grand Thornton.
IIMTC analyzed both of these reports and found that although both the organizations ensure the immense growth in Indian medical tourism in the coming years, their actual estimated figures mismatches and this leads to a slight confusion for all of us.
A huge difference of approx 2billion dollars between the estimated figure by Grand Thornton and KPMG might put a question mark on the overall analysis report being generated by their respective market analysis team.
Hopefully both the organizations are aware about this and may do a final analysis to synchronize these figures. As the New Year has already started, it is quite possible that both Grand Thornton and KPMG come up with an entirely new story, but whatever it will be we will definitely keep an eye on it to keep you posted.
Source: KPMG 2015 India Analysis Report