How To Launch A Medical Travel Business In India?

Starting a medical tourism business in India requires thorough market research, understanding the market, being financially smart, and building a trustworthy website. Popular medical procedures that attract international patients to India include cardiac surgeries, orthopedic treatments, and cosmetic surgeries. Startups play a pivotal role by creating an end-to-end proposition, including case detailing, connecting with the right doctor and facility, and medical visas.

India’s medical tourism sector is estimated to be worth US$9 billion in 2022, with approximately 2 million patients visiting India each year from 78 countries for medical care. Top medical tourism companies in India provide personalized care beyond borders, bridging borders for quality healthcare. To launch a medical tourism agency, one must research medical facilities and treatment options available in India, analyze the industry, work on a business plan, obtain certifications, permits, licenses, insurance, and collaborate.

To grow a medical tourism business, one should research medical facilities and treatment options online, work on a business plan, obtain certifications, permits, licenses, insurance, and collaborate with reputable doctors. Medical tourism training courses, startup tools, and relationships with reputable doctors can help grow a business. Hospital and medical tourism facilitators (MTFs) are essential for growing a medical tourism business in India.

Factors that can increase the growth of medical tourism in India include high-quality services at a lower cost, better medical care facilities, and top-notch medical travel agencies.

How can I start a healthcare company in India?

To establish a healthcare company in India, you need to register as a private company, apply for a Permanent Account Number (PAN), and register for tax like service tax and GST. If the company deals in healthcare products, VAT/CST registration is required after a certain turnover limit is crossed. The pharmaceutical industry is subject to healthcare compliances and is regulated by the Central Drugs Standard Control Organization (CDSCO).

Which is the best medical tourism company in India?

India has become a top destination for medical tourism due to its cost-friendly healthcare facilities, medical experts, and the latest techniques. Companies like Go Medii, Medsurge, Credihealth, HealthTrip, Lyfboat, Edha Care, and Mediconnect are promoting healthcare solutions to foreign patients. Yapita Health, India’s leading medical tourism provider, offers customized care and support to patients seeking medical treatment from around the world.

With a wide network of hospitals and experts, Yapita Health provides continuous medical services from the first visit to the full treatment process. Vaidam, another prominent player in medical tourism, offers a wide range of offerings and patient-care systems. The website Vaidam assists patients in their decision-making process, including lodging and travel, by helping them select approved hospitals. These companies are focusing on providing world-class medical services to meet the expectations of foreign patients seeking affordable and quality healthcare.

What is the revenue of medical tourism in India?

India’s medical tourism sector is a growing industry worth $9 billion in 2022, with approximately 2 million patients visiting the country annually for medical, wellness, and IVF treatments. The industry generates $6 billion, expected to reach $13 billion by 2026, and is backed by the Indian government’s Heal in India initiative. The majority of medical patients come from Southeast Asia, Middle East, Africa, and SAARC region, as well as Australia, Canada, China, Russia, the United Kingdom, and the United States. Chennai is known as the healthcare capital of India.

To encourage medical tourists, the Indian government expanded its e-tourism visa regime in February 2019, with a maximum stay duration of 6 months. Since August 2019, foreigners can receive any medical treatment in India, except organ transplants, without a medical visa. In August 2023, the Ministry of Home Affairs announced the creation of the Ayush Visa category to promote travel healthcare in India. Tech-savvy companies are also offering online medical tourism in India.

How to set up a medical tourism business in India?

To launch a medical tourism agency, you need to complete medical tourism courses, develop a business plan, create a marketing strategy, create a medical tourism website, use a medical tourism consultant, and build a provider network. With the growing demand for affordable medical care, this presents an opportunity for entrepreneurs to establish a medical tourism business. Acquiring medical tourism accreditation is the first step for founders.

Understanding the services you will offer, such as medical travel arrangements, educational guidance, and assistance in finding the right doctors and hospitals, is crucial. Acquiring accreditation is a common step for health tourism agency founders.

Is medical tourism legal in India?

India has introduced a new category of “Medical Visa” for foreign tourists seeking medical treatment in the country. This visa can be extended for over a year, allowing patients to visit three times a year and accompany a relative or friend. Guidelines for accreditation of Ayurvedic and Panchkarma Centres have been circulated to all state governments and placed on the Ministry of Tourism’s website, incredibleindia. org. Yoga, Ayurveda, and wellness have been promoted in various media over the past two years under the Ministry of Tourism’s “Incredible India Campaign”.

What is the salary of medical tourism in India?

The mean annual salary for an entry-level tourism development officer is ₹19, 06, 151, while a senior-level officer (with eight or more years of experience) earns ₹33, 82, 865.

Which is the No 1 healthcare company in India?

The company’s sector cap encompasses a number of prominent healthcare providers, including Apollo Hospitals, Fortis Healthcare, Narayana Hospital, and Aser DM Healthcare. Collectively, these entities possess total assets amounting to Rs 6, 772. The company’s market capitalization is Rs 6, 973. 796 million.

How much does it cost to register a travel company in India?

The process for obtaining a Travel Agent License involves submitting an online application, either directly or with professional assistance. The application must be filled in the prescribed format to avoid rejection and penalties. Personal and business registration details are required. After completing the application form, all necessary documents, including site ownership, personal details, government documents, banking details, ITR, and company balance sheet, must be submitted. The government fees for this process are ₹3, 000.

Which business is most profitable in India?

India’s economy is rapidly growing due to market trends and a shift towards digitized models. As a result, there are numerous profitable business ideas to consider. Cloud kitchen is a smart way to launch a food business, while wedding planning is a popular choice. Website design, interior design, dropshipping, pet care services, travel agency, and organic farming are also viable options. With a large population and constant demand for new products, businesses can tap into these opportunities. The top 10 most profitable big business ideas in India include cloud kitchen, wedding planning, website design, interior design, dropshipping, pet care services, travel agency, and organic farming.

Which state has highest medical tourism in India?

India’s medical tourism sector is a growing sector, with an estimated value of $9 billion in 2022. Approximately 2 million patients visit India annually for medical, wellness, and IVF treatments, generating $6 billion for the industry. The sector is backed by the Indian government’s Heal in India initiative and is expected to reach $13 billion by 2026. Most medical patients arrive from Southeast Asia, Middle East, Africa, and SAARC region, while also receiving patients from Australia, Canada, China, Russia, the United Kingdom, and the United States. Chennai is known as the healthcare capital of India.

To encourage medical tourists, the Indian government expanded its e-tourism visa regime in February 2019, with a maximum stay duration of 6 months. Since August 2019, foreigners can receive any medical treatment in India without a medical visa, except for organ transplants. In August 2023, the Ministry of Home Affairs announced the creation of the Ayush Visa category to promote travel healthcare in India. Tech-savvy companies are also offering online medical tourism in India to address this gap.