5 Most Profitable Healthcare Business Ideas Of 2018
Healthcare industry is very promising and is an ever growing billion dollar industry in India. It is one industry that plays a key role in the economy of many nations.
The industry is a large one with abundant business opportunities which includes medium and large-scale manufacturing operation, from medical waste recycling to retail pharmacies, medical equipment supplies, child care centres, and various service sectors. Furthermore, any individual can start a healthcare business regardless he is in rural areas, suburban or metro city. Healthcare is one of the most important needs of man.
Here in this article, we have provided a list of 5 most profitable healthcare business ideas of 2018 to get you started.
If you are interested in starting highly profitable and thriving but capital intensive business in the healthcare sector then you should consider going into the manufacturing of drugs, needles and syringes, medical equipment etc.
Countries like India and China are really ‘increasing’ their game when it comes to manufacturing of drugs, simply because it is aiding the growth of their economy. Here’s a list of business ideas in manufacturing:
- Aloe vera gel
- Disposable syringes and injections
- Sanitary napkins
- Coconut oil
- Surgical Bandages
- Surgical dresses
- Medical Gloves
- ECG machines
- X-Ray machines
- Weighing scale etc.
Retail Pharmacy Business
The most simple and easy way to venture in healthcare industry is, to begin with, a small business of retail pharmacy. It is one of the most flourishing and productive businesses in the healthcare industry today. If an individual is looking forward to starting their own drug store business must abide by the Regulations of Retail Pharmacy Businesses that guide the sourcing, stockpiling, sale, supply, and recordkeeping, in regard to the medicative items. The investment in this business is around 3-5 lakh but try to find a location in the vicinity of medical centres and hospitals because demand is more in those places. Retail pharmacy business is one of the thriving and profitable businesses opportunities which never go out of demand as these stores have daily use products with them as well.
Another profitable business in the healthcare sector is to open a veterinary clinic. A veterinary clinic is simply a hospital for animals. A veterinary hospital cares-for, prevents, diagnoses, and treats sick, disabled, diseased, injured, or unwell animals brought for treatment. The number of pet owners is increasing daily, so also is the number of livestock farm owners. If you are a veterinary doctor, or you simply love animals; then setting up a veterinary clinic is the most suitable business that you can successfully start. Just make sure that you find a good location for your vet clinic that is close to a place where there are loads of pet owners, farm animals and cattle.
In recent times, the number of couples who are struggling to conceive runs into millions. Fertility clinics are places where people who have challenges conceiving enrol for treatment. This is another profitable but untapped business opportunity in the healthcare industry that generates billions of dollars yearly. Running a fertility clinic is a good way to help couples with child conception challenges and also grow you a sustainable business.
It is always good to start a business which is trending. Now-a-day, everyone is becoming physique cautious. Fitness centres or gym are places with various exercise equipments people use to work out and is currently hyped in the minds of youngsters. There are many opportunities to become a franchise or open your own place but make sure that you do a proper research before opening. The investment in opening a fitness centre depends on the services you want to provide. A basic facility providing gym can be opened within 5-10 lakh.