2.

9 Medical tourism & health insurance

Though medical tourism is generally a part of healthcare industry worldwide, it is governed by
the Ministry of Tourism in India. The segment was expected to touch USD 1bn by 2010
according to a study jointly conducted by Yes Bank and Associated Chamber of Commerce and
Industry. According to the Ministry of Tourism, the percentage of foreign tourist arrivals in India
for medical tourism increased from 2.2% in 2009 to 2.7% in 2010. Health insurance is another
growing segment of the healthcare industry and is regulated by the Insurance Regulatory and
Development Authority (IRDA), an autonomous body. The size of the health insurance market
was around INR 131bn (~USD 2bn) according to industry estimates as of 2012.
Chart 29: Forecast for the size of Indian health insurance industry (In INR Bn)
315.0

266.0
231.0

265.0
192.0

215.0

160.0

165.0

111.0

115.0
22.0

32.0

2006

2007

65.0

51.0

66.0

131.0

83.0

15.0
2008

2009

2010

2011

2012

2013

2014

2015

2016

Source: Max India

2.10 Healthcare equipments

The Confederation of Indian Industries (CII) estimated the size of the healthcare equipments
industry at USD 5bn by the end of year 2012. Between April 2000 and March 2012, FDI inflow in
medical and surgical appliances stood at USD 521.6 million, equal to approximately 40% of the
total FDI in the healthcare sector during that period. GE Healthcare, Philips, Johnson and
Johnson and Siemens are among the major multinational companies operating in this segment.
Chart 30: Estimated size of medical equipments industry (USD bn)
5.5

5.0

5.0
4.3

4.5
4.0

3.7

3.5
3.0

3.2
2.8

2.5
2.0
2008

2009

2010

2011

2012

Source: CII

Pharma &
Healthcare

India

22

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