Insurance coverage could unlock India's medical tourism potential, says Apollo

Insurance coverage enabling international patients to access treatments in India could open the floodgates for medical tourism expansion, a top hospital chain official said on Wednesday. Sangita Reddy, Joint Managing Director of Apollo Hospitals, noted that when global insurers begin reimbursing expenses for foreign patients, "a large segment of the Western world" would likely travel to India for medical procedures. "Global insurance companies enabling international usage automatically, and not just enabling but encouraging, will help save patients a lot of money," Reddy told reporters on the sidelines of the Garmin Health Summit in Bangkok. The hospital executive said Apollo has requested the government to lead a delegation to engage with international insurance firms on the matter. Reddy highlighted that India already attracts a significant number of non-resident Indians for medical treatment, creating a win-win scenario for all stakeholders. The global medical travel market was valued at approximately USD 115.6 billion in 2022 and is projected to grow to around USD 286.1 billion by 2030, according to official figures. India has positioned itself as a competitive destination for medical tourism, offering quality healthcare at significantly lower costs compared to developed nations.