Unregulated growth of infertility clinics across the country to cash in on the growing population of childless couples has brought down ethical standards of medical practitioners. But, if regulated, these clinics could open up a promising avenue of opportunities in the medical tourism sector.
This was one of the strong views that emerged at the Indian Medical Tourism Conference organised by the Federation of AP Chambers of Commerce and Industry and i-Transition, a global networking group.
Experts pointed out that the Assisted Reproductive Technology Bill, which is pending in Parliament, will go a long way in regulating this sector through maintaining an inventory of registered infertility clinics. And, with the Bill being very liberal as compared to most parts of the world, this sector could become an important arm of medical tourism. The documented medical tourism market in India is currently estimated at $2 billion, but different estimates suggest that the market size could be in the neighbourhood of $35 billion. India is facing stiff competition in this sector from countries such as South Korea, where the industry grew from $2.6 billion to $27.8 billion in the last three years. Experts estimate that 15 per cent of the couples in the world were childless. A regulated growth of infertility clinics through the Bill could boost India’s medical tourism prospects, they felt.