Report on Medical Value Travel (MVT) Paradigm Shift

India is currently ranked as the fifth most attractive and favorite destination for Medical Value Tourism (MVT) as per a popular MVT tracking website. Patients from all over the world come to India for various kinds of treatment. A majority of them are from Nigeria, Iraq, Afghanistan, Bangladesh and Iran, besides other African countries. As per Invest India, a national investment promotion and facilitation agency, MVT patients increased from 1.83 lakh in 2020 to 3.04 Lakh in 2021 and the current MVT market is valued at $5–6 billion, and expected to be $13 billion by 2026.

Presently most Indian private hospitals get patients through their respective business development and marketing strategies, which operate from satellite or solicitation centers, through agents, marketing bodies, camps, etc. Payment for medical treatment is, therefore, catered to largely on out-of-pocket basis by patients, or by certain governments with insurance companies chipping in.

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