A report says that as healthcare turns costlier in developed countries, India's medical tourism market is expected to more than double in size from $3 billion at present to around $8 billion by 2020.
The cost-consciousness factor and availability of accredited facilities have led to emergence of several global medical tourism corridors Singapore, Thailand, India, Malaysia, Taiwan, Mexico and Costa Rica.
Bangladesh and Afghanistan dominate the Indian Medical Value Travel (MVT) with 34% share. While the number of MVTs itself is poised to grow at over 20% CAGR, Kerala needs to focus on its visibility as a healthcare destination amongst other states.
An organization titled the Kerala Medical Value Travel Society (KMVTS) has been formed in line with the Kerala Travel Mart, with the aim of giving a boost to the healthcare tourism sector in the State. The KMVTS was formed at the fifth edition of the Kerala Health Summit - 2015.
At the summit, the Medical Value Traveller Portal, which showcases the State's capabilities in health tourism, was also launched. In addition, six technical sessions with focus on factors that are key to the success of medical tourism in the State were held.
Experts in the health and tourism sectors, policymakers, officials from the target countries, technology providers and certification agencies from around the world took part in the discussions. As part of the Summit, the Kerala Health Tourism - 2015 Exhibition was also held, with participation of 40 exhibitors.