New Delhi, March 19 -- India's medical tourism industry is on a strong growth path, with projections indicating that the market will reach $18 billion by 2027, growing at a Compound Annual Growth Rate (CAGR) of 19 per cent, a new report said on Tuesday.

The country has become a preferred destination for international patients, offering world-class healthcare services at significantly lower costs than Western nations. In recent years, India has positioned itself as a global hub for medical tourism, attracting patients seeking top-tier medical treatments along with the opportunity to experience the country's rich cultural heritage.

According to Praxis Global Alliance, a global consulting firm, the industry has witnessed rapid expansion, w...