Contribution of medical tourism to whole Indian hospital sector is about 3 to five per cent. (File)
Mumbai:
The socio-political unrest in Bangladesh has impacted the medical tourism influx from the neighbouring nation and if the turbulence persists the overall footfall from the nation could drop by 10-15 per cent this yr, a report has stated.
Bangladesh is the main contributor to medical tourism amongst neighbouring nations and accounts for 50-60 per cent of India’s whole medical tourism influx, says the report launched on Wednesday.
Present inside challenges in Bangladesh have impacted the move of sufferers as a substantial variety of these travellers have both cancelled or postponed their visits, in accordance with a report by knowledge-based analytical group CareEdge Rankings.
In response to CareEdge Rankings, if the unrest persists, the footfall is more likely to decline by 10-15 per cent from Bangladesh throughout 2024.
The contribution of medical tourism to your complete Indian hospital sector is about 3 per cent to five per cent.
Contemplating the drop in footfall from Bangladesh together with its gradual revival to normalcy by the top of 2024, the sector will see minimal influence, in accordance with the report.
“The impact on particular person hospitals will range relying on their reliance on Bangladeshi medical vacationers. Hospitals with a excessive dependency on these vacationers could expertise income declines within the second and third quarter of FY25, whereas bigger, multi-location hospitals in India are more likely to see a comparatively minor influence.
“Most Indian business gamers seem like largely unaffected by the disaster, supported by their robust monetary resilience and sturdy money accruals,” CareEdge Rankings Affiliate Director D Naveen Kumar added.
Lately, medical tourism in India has been on a gradual upward pattern, pushed by the comparatively low price of surgical procedure, high-quality essential care, hospitals with superior know-how, and the increasing e-medical visa facility.
Though 2021, noticed some development in medical tourism following the numerous influence of the Covid-19 pandemic the earlier yr, it remained subdued as a result of ongoing journey restrictions in elements of that yr.
Nevertheless, 2022 marked a major comeback, with medical tourism almost returning to pre-Covid ranges, and the pattern continued in 2023, displaying a 33 per cent year-on-year development.
The federal government’s initiative to increase the e-medical visa facility to nationals from 167 nations is anticipated to additional enhance medical tourism within the coming years, stated the report.
This significantly advantages the hospitals in metro cities essentially the most as they’re prime beneficiaries of worldwide affected person move, stated the report including that almost 70-80 per cent of medical vacationers arriving in India are from Bangladesh and Center East nations.
India ranks among the many prime 10 nations for medical tourism globally and is particularly most well-liked amongst South-Asian, African and Center East nations.
Bangladesh stands out because the main contributor to medical tourism amongst neighbouring nations, surpassing the Center East, Myanmar, Maldives, Sri Lanka, and Pakistan.
Nevertheless, latest socio-political instability in Bangladesh poses a threat to this flourishing section of the business as the present inside challenges have proven indicators of affecting the move of sufferers.
The hospital sector in India was valued at round Rs 5.8 lakh crore in FY23, with an anticipated annual development fee of 12 per cent over the following three years. Annually, an estimated 3 to three.5 lakh people from Bangladesh search medical therapy in India.
(Apart from the headline, this story has not been edited by NDTV employees and is revealed from a syndicated feed.)