Justice Litle says India’s healthcare industry is growing fast enough to double in size within the next five years. Not only are more and more Westerners heading over for medical treatment, but also the massive local market has barely been touched. Don’t get put off by short-term wobbles, says Justice…

Ever heard of “medical tourism”? Ten or 15 years ago, that would have been a head scratcher for most folks… a total nonsense phrase. Now it’s a big phenomenon.

Here’s how medical tourism works. Let’s say (god forbid) you find out you need major surgery. A coronary bypass, perhaps, or maybe a hip replacement. In the U.S., those operations would set you back $100,000 or $43,000, respectively.

In India, you could have either done for less than $8,000. That’s a savings of more than 90K for the bypass. And you get a deluxe facility and well-trained, English-speaking surgeon, just like at home.

Technology and education have virtually closed the “quality of care” gap between India and the West. Those willing to endure a grueling flight can thus get 80% to 90% off on a huge expense.

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As you might have guessed, medical tourism is a nice moneymaker for India. And yet, cashing checks from Westerners is small potatoes compared to serving local needs. The big opportunity is right there at home.

Just consider: India has an average of six doctors for every 10,000 patients. Health insurance covers just one out of every 13 people (less than 10%). The Indian healthcare sector is at $34 billion and growing 16% a year… fast enough for a double in less than five years.

As India’s economy grows, healthcare is just one area where big profits will be made. (That’s why smart investors are betting hundreds of millions a year on future growth.)

The bottom line is this: Don’t be put off by recent market turmoil or shortsighted views. Countries like India are just getting started.

Source: Is There a Doctor in the House?