INDIAN HEALTH CARE INDUSTRY AT A GLANCE IN 2013 - 2014 The domestic health care sector is poised to touch US$ 100 billion by 2015 and US$ 275.6 billion by 2020, according to industry estimates. In 2013, healthcare and life sciences emerged as the second favourite destination for venture capital after technology, attracting 27 investments worth US$ 181 million, according to a research report.
Majority of foreign tourists came to Indian shores seeking liver transplant, heart surgeries like bypass or pacemaker, bone marrow transplant, hip replacement, knee replacement, eye surgeries, etc. Indian expertise in conducting these surgeries with most advanced technology is at par or sometimes even beyond comparison with its American or European counterparts. Medical tourists visiting India are anticipated to touch 3,200,000 by 2015 and medical tourism is expected to grow at an annual rate of 30 per cent till 2015. India's decision to offer visa-on-arrival to citizens of 180 countries will be a boom for the medical tourism industry in the country. Health tourism is gaining momentum in India. The health tourism industry in India could become a US$ 5 billion business by 2015, as per a McKinsey study. The Government of India has allocated Rs 67,398 crore (US$ 11.05 billion) to the Ministry of Human Resource Development (HRD) and Rs 33,725 crore (US$ 5.53 billion) to the Ministry of Health and Family Welfare under the Union Budget 2014-15.
