Healthcare Industry has consistently been an ever-developing industry and it will continue its growth as the demand for clinical products is consistently increasing. Medical services are the need for humans and have thrived in each part of the world be it rural zones or metropolitan zones. Furthermore, people are considering the importance of their well being which will expand the business. As it’s the need of an hour, we have searched and brought some decent business ideas for you.

 

Healthtech Business Ideas

Following are some booming Healthcare Technology Business ideas:

  1. IV-Fluid Manufacturing Unit 
  • IV fluid is considered as one of the most effective nutrients in IV therapy. Intravenous (IV) therapy involves the infusion of IV Fluid into the vein of the patient who is suffering from nutrition deficiency or severe dehydration.
  • IV fluid helps in treating electrolyte imbalances, medications, transfusion of blood, rehydration and it also helps in chemotherapy. The demand for Intravenous fluid is rising, because it is more effective than oral ingestion. And pharmacy companies are trying to fulfill this huge demand.
  • The emergence of the IV Fluid market is attributed to the fast-growing geriatric population and the presence of malnutrition in the elderly and pediatric population.
  • Increasing launches and regulatory approvals for Intravenous Fluid injection is expected to drive the growth of the global Intravenous fluid market.
  • Launches of new Intravenous fluid injections for the treatment of various diseases such as dehydration, gastrointestinal diseases are expected to drive the Intravenous fluid market growth over the forecast period.
  • The primary costumers for these manufacturing units are Hospitals, Clinics, Dialysis centers, Home care settings. The global Intravenous Fluid market size was valued at US$ 8,372.0 million in 2019 and is expected to witness a CAGR of 6.1% over the forecast period (2019 – 2027).

 

  1. E-Pharmacy Platform 
  • E-pharmacy is the emerging business in the Indian Health Tech and E-Commerce industry, and this business is getting support from customers, investors, and the government as well. The principal target market for this business is individual customers, healthcare institutions, schools-colleges, brick-mortal type of pharmacist, etc. Investors are observing great potential in the leading sector of Health-tech.
  • The global e-Pharmacy market is estimated to rise with a CAGR of 17.7% to reach an estimation of US $128 Billion by the year 2023. Additionally, the Indian e-commerce industry is expected to grow at a CAGR of over 20%, meeting the US$ 3 Billion value by the year 2024 and it is favorable for the online medicine retailing business.
  • The key drivers for E-pharmacy Business are the growing number of internet-smartphone users, the rise in the use of Internet-based services contributing to the growth of this particular market. Another advantage of e-pharmacy is that a person can easily upload his necessary medicine details on the website or app and order medicine online effortlessly.
  • Starting an e-pharmacy business is an excellent idea. Therefore, there is a big opportunity for new entrants for entering this business.

 

  1. Healthcare Mobile App services
  • Today, Healthcare Apps are changing the concept of medical services like treatments, consultations, medicine delivery, and medical prescriptions. Mobile app development has a notable impression on the advancement of the healthcare technology industry in general.
  • Many hospitals and healthcare providers are getting benefits out of the technological advancements, with the help of convenient automated systems.

There are several types of healthcare apps that are available,

      • Personal Health Services (Dr. Consultation, health history, medicine planner & reminder, prescription, and other healthy lifestyle apps)
      • Advice on Request (Video chats or messengers chats, appointment, and consultation with detailed drug prescription)
      • On-demand On-Site (Ambulance dispatch, medicine delivery, doctor’s visit, payments)
      • The total market size of the mobile health industry is expected to reach 95 billion dollars by 2024. The total industry size is expected to touch US$ 267 billion by 2020 and US$ 483 billion by 2024.

Therefore, there is an excellent opportunity for the startup of a mobile healthcare business, as well as to enter the Health Tech industry.

 

  1. Home Healthcare Services
  • The benefits of engaging the assistance of Home Healthcare Services are security, convenience, affordability, and comfort of the patient. Due to its patient-centric approach, the disabled patient, seniors, are now completing their healthcare needs with this kind of service.
  • Growing business in the Health Tech industry, and with the combination of advanced technology, the value of healthcare services will be at the new heights; which is showing new and big opportunities in the future for this industry.

 

  1. Adult Diaper Manufacturing Unit
  • The adult diaper is intended to be worn by adult people in various conditions, such as incontinence, severe diarrhea or dementia, mobility impairment.
  • Disposable diapers are supposed to remain the fastest-growing product over the forecast period. Biodegradable products are establishing a strong foothold owing to both consumer convenience and environmental regulatory requirements.
  • The growing aging population, urbanization, increased affordability of diapers, and increased awareness of treatment methods for urinary incontinence is expected to be a major driver for the global adult diaper market and also seem market growth in the future.

  

  1. Biodegradable Sanitary Napkins Manufacturing Unit
  • Biodegradable Sanitary Napkins are manufactured by using a degradable cloth and biodegradable materials such as banana fiber, bamboo corn, cotton, cloth piece, etc. that do not contain any synthetic or chemical-based materials. These green products are cost-effective, comfortable, and hygienic and have a great absorbent capacity.
  • The Demand for Biodegradable Sanitary Napkins in the market is rising due to the increasing population of working women, growing awareness about female hygiene, increasing health issues such as skin irritation and rashes, government schemes and policies, etc.
  • Along with being an environment-friendly idea, this business also has a huge potential in the industry in terms of profit-making.

 

  1. Baby Spa
  • The spa business has a broad target market, from newborn to elders. It benefits or helps in muscle relaxation, health improvisation, mental stability, beauty, etc. these are the reasons, why the spa business is growing from the past few years. Supporting this, a new trend of the Baby Spa has gained its popularity in the market.
  • Hydrotherapy, i.e., flotation or swimming activity in the water, enhance physical and cognitive development. It is necessary for the baby’s muscle strength and free movement.
  • The Baby Care Industry market is expected to reach $580 Billion from $31 Billion between the years 2019-2022. With the changes in recent trends in the market, the potential for this business will eventually grow in the future. Therefore, there is a big Opportunity for Baby Spa Business in the Health Tech Industry.

 

  1. Medical Tourism Business
  • Medical Tourism is the business that provides services like outdoor medical treatments, therapies, rehabilitation with some companion services like traveling and stay. E-diagnosis and E-consultations could help inform potential patients about the available options before they travel.
  • The advantages of this business to the customers are the low cost of treatment, the availability, advanced medical technologies, and improving regulatory compliance with the international quality standards.
  • Types of Medical Tourism available in the market are Outbound Medical Tourism, Inbound Medical Tourism, Infrasound, or Domestic Tourism.
  • The development of medical tourism in the country has given rise to the importance of quality services. New technologies could help medical tourists in personal health apps to 3D printing. The growth of technology, economy, and other global relations plays a notable role in developing the future of the medical traveling and tourism sector. 

 

  1. Single Cell Protein(SCP) Production and Processing Unit
  • The Single Cell Protein can be produced by using waste materials as the substrate, specifically agricultural wastes such as wood shavings, sawdust, and corn cobs, also food processing wastes such as residues from alcohol production, hydrocarbons, or human and animal excreta.
  • Target Geography for this market is North America, Europe, Asia Pacific, Middle East, and Africa, and South America.
  • Single-Cell Proteins have applications in food as the important source of protein, vitamin, and to improve the nutritive value of several foods including baked products, soups, ready-to-serve-meals, in diet recipes, and others, while in animal nutrition it is been widely used for fattening calves, poultry, pigs and fish breeding. Apart from this, Single-Cell Protein is also applicable in paper processing, leather processing, and foam stabilizers. Besides, the companies are engaged in providing spirulina (a type of SCP) in the form of a nutritional drink. The drink contains the live form of spirulina to serve as a probiotic than just the nutritional supplement. Companies are engaged in masking the taste of spirulina to gain a competitive edge.
  • Application of SCP as a multipurpose nutraceutical drives the research interest of manufacturers in a single cell-derived product, thus boosting growth in this sector. The applications include antioxidant, B vitamin source, chlorophyll enhancer, and alkaliser.
  • The worldwide single cell protein market was valued at $5.3 billion in 2018 and is expected to grow at a CAGR of 8.6% in the forecast period (2018–2023).

 

  1. Wellness Center
  • A Wellness Center is an establishment that offers health services for the body and mind. Wellness centers usually offer skincare services and body services such as fitness, yoga, massage therapy, personal training, and nutrition consulting. Some wellness centers offer more alternate services such as Holistic therapies, Hypnotherapies, Reflexology, or acupuncture.
  • Today’s generation is very conscious about a personal appearance, health, diet, which is directly pushing the demand for spa & beauty services, fitness, slimming, and rejuvenation. Also, the growing motivation for healthy and better living, linked with time limitations, gives acceleration to various services of a wellness center.
  • The global health & wellness market is expected to reach US$ 24.1 billion by the year 2022, with a CAGR of 6.78%. This gives various opportunities for the health and wellness sector.

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