40 Top Healthcare Business Ideas in 2018

India is one of the most populated countries in the world with huge number of youths, adults and the elderly. Healthcare business is highly lucrative in this part of the world because it gives succor to the ailing and heals the sick.

The business is a billion Rs enterprise that attract thousands of practitioners in the real and sub-sectors of healthcare. Both professionals and private individuals with the prerequisite knowledge of the sector make lots of financial gain.

As a business person if you are interested in providing healthcare related services you can make big money while offering a valuable service to the community.

Let us look at several business ventures you can do around the healthcare sector.

1.      Become a medical practitioner

That is the easiest step to take if you have a real passion for health. There are many courses and university degrees that support health and well-being

You can go to the university or medical school to become a doctor. You can be a general practitioner or specialize in certain fields like optometrist, gynecology or dentistry.

If you don’t wont to go that far you can opt to become a qualified nurse. It is relatively easier than becoming a doctor. Nurses have lots of opportunities in the health sector and are very important to medical facilities and hospitals.

2.      Open a pharmacy

Pharmaceutical business is a million Rs business that keeps growing yearly. As the population increases and new resistant strains develop the pharmacy is the first point of call for an ailing individual.

To open a pharmacy you need local government certification. Each pharmacy must be handled by a qualified pharmacist or it will not be approved.

If you are not a pharmacist you can hire one to oversee the disbursement and procurement of drugs. There are many strict regulations to the pharmacy business but they are not insurmountable.

Once you have gotten all the legal requirements find a good location for your store. The best locations are in urban areas with high density of population.

The pharmaceutical store must be clean accessible and legitimate. Sourcing your drugs should be from only reputable pharmaceutical companies because you are dealing with peoples lives.

The financial involvement depends on the size and scope of your establishment including cost of drugs, salaries, rent-age and licenses.
 Read More On How to Open a Pharmaceutical Store

3.         Open a maternity ward

Millions of women give birth to babies daily and as a businessman you can make good money providing maternity services. Before you can open a maternity ward the scope of services you render should be clearly stated.

You also need local the authority’s certification and approval before you start the business. A standard maternity ward has a qualified doctor and a few nurses who carryout the daily statutory functions.

The ward provides counseling, tutorials and regular check and support for new mothers. The maternity ward should have an emergency vehicle and should be attached to a larger hospital.

It is important not to overstep the provisional functions of a small maternity wards.

4.      Start a pharmaceutical company

If you want to become a millionaire in a very short time then starting a pharmaceutical company. You need government approval to register and get certified as a pharmaceutical company.

Regulatory bodies will also have to look into the manufacturing process and content of you drugs. You need a few qualified professionals and consultants to help develop effective drugs.

You also need a sterile laboratory, lots of specialized equipment and good packaging. The pharmaceutical industry is huge business so you should be ready for serious competition.

To succeed you need to carve a recognizable brand and create cost effective drugs. Make sure you drugs are high quality and adhere to the rules and regulations that govern this business.

Top pharmaceutical companies also export drugs to third world countries and Asian countries. This is very big business but each country has its rules regulations and provisions on importation of drugs.

If you have a reliable foreign partner that takes care of all the requirements exporting some of your drugs can fetch you huge money.

5.         Sell Healthcare and medical books

Books related to healthcare and fitness fly off the shelf because people are conscious of their health. You can start a healthcare bookshop and watch your profit rise.

There are hundreds of topics related to health and fitness and by specializing in such books you have already carved a niche for your self. You can sell your books both offline and online, to medical students and interested individuals.

You need a good location well stocked bookstore and a little publicity. Healthcare books never get outdated so you get a verified business template to build you business empire.

Another strategy is to locate you bookstore close to a medical college and find out the regular books they use. You are then assured of regular patronage from medical students and nurses.

6.         Sell toiletries

You can sell toiletries like sanitary pads, tissue papers, toilet rolls and other paper derivatives. The business is big because of the constant use of these items.

Baby care items like pampers are a big winner because new babies under a year use them daily. Some businessmen have made there fortune in this niche market.

You need to decide if you want to be a wholesaler, retailer or both. The business format you chose depends on you financial capability and interest.

You customer base can include hospitals, maternity centers, health centers, supermarkets and direct sales to individuals.

A good location including a well stocked store and competitive prices will guarantee success.

7       Manufacture Healthcare Products

This sub-sector is very interesting because it attracts huge patronage. A businessman interested in manufacturing can concentrate on toiletries like sanitary pad’s, children’s pampers or even tissue paper production.

Other healthcare products that are easy to make are detergents, medicated soaps, creams like Vaseline. To get the best result you need a little training or hire an expert in each field.

Once you have learn t the production process get local certification and start manufacturing health products. You market base are pharmacists, private individuals, department stores, open market and even trade fairs.

There are thousands of health related items you can produce find the one you like.

8          Start a Non Government Organization

You can start an NGO focused on health related matters. NGOs attract lots of government patronage and international agencies support and financing.

You need to find a health sector you are passionate about like eye related ailments, waterborne diseases, child mortality the list endless. You must be genuine in you advocacy for better healthcare including the provision for medical assistance and drugs.

The first step is to register your NGO and open an office. The NGO needs a public image so build a dedicated website and offer your selfless service to your chosen sector. Your antecedents and programs will attract foreign investors to your programs.

9          Open a Diagnostic Center

Diagnostic centers are big money making business ventures. Patients are usually referred to a diagnostic center from hospitals and medical clinics.

The diagnostic center provides medical diagnosis like platelet count, typhoid or malaria check and other tests. They provide an invaluable support system for hospitals and private individuals.

If you have specialized equipment like full body scanners, dialysis equipment you make huge earnings. Equipment used in determining the sex of an unborn child, if there is pregnancy is highly needed.

You need qualified people to work you equipment in a clean sterile environment. You need to study the local government and diagnostic practitioner’s requirement before starting your business.

A good location for your diagnostic center is close too any hospital or healthcare center.

10.       Do lectures and seminars

You can do lectures and seminars for both medical practitioners and individuals. When organizing a seminar you need a professional in the field of topic.

The seminar should also have manuals, DVDs and other teaching aids to assist practitioners. You can organize a seminar on the same or different topics monthly.

You make money from the attendance fees and book or manual sales. A well coordinated seminar with high quality information can attract medical practitioners and students in the field of study.

All you need for this business is a lecturer or professional, a location, course material and publicity. A well attended seminar is equal to cash in the bank  

11.       Pyramid Marketing of Health Supplements

If you are interested in selling health supplements then you can join companies that do this kind of business. The business format is simple you join the organization and buy their product.

Anyone you subsequently sign up into the same healthcare scheme/program you get a percentage of their sales. That is how multilevel or pyramid marketing works.

The problem I have with this business model is the price of the supplements and functionality. However, a close relation of mine got to the top of the pyramid . She goes on fully paid foreign trips, gets lots of cash bonuses and was even given a jeep.

The only way you can make money from pyramid marketing is inviting others who buy and sell the products. An effective method to rise quickly is to hold free seminars and form marketing groups.

If you have marketing skill then this business works but without any marketing skill you will find it difficult.

12.       Sell Medical Equipment

Medical equipment's are regularly used by hospitals and healthcare facilities. Some are common equipment like IV drips, wash hand basins, and toiletry equipment.

Others are mechanical or electrical mechanisms used in the treatment of patients. To start this business get a comprehensive inventory of equipment's that a used regularly.

Then get orders and seek out medical equipment wholesalers and retailers. Medical equipment sales are big business you only need to figure out which equipment are most needed.

A businessman after identifying equipment regularly used in hospitals can stock his store or buy when ordered. Try to only stock equipment's that are durable and most used regularly in hospitals.

You can also sell medical stationery, charts, receipts forms medical history ledgers pencils, biros and staples

13.       Sell Herbal Remedies

Selling Herbal remedies can make you rich especially if the proficiency of the drug is substantiated. Herbal practitioners make five figure incomes monthly and some have become super rich.

Herbal remedies are alternative medication produced by mixing different herbs and roots. The herbal practitioner should learn the trade and understand what he is doing.

Badly formulated herbs can be handful and deadly to patients. To get ahead in this business you need to learn the trade, get government certification and testing.

Other things you need are a brand, patent for your product, proper packaging and handling. You also need a dedicated outlet like a shop and website.

Your herbal remedy should be promoted and sold in supermarkets, drug stores, online and in special trade fairs.

14        Cleaning Support Staff

Hospitals need cleaning daily because of the bodily fluids and germs that gather in such places. Building a business that offers cleaning support for hospitals is a lucrative business venture.

The downside of this business is the exposure to dangerous germs, viruses and diseases. Doing this kind of business is hazardous and serious preventive precautions are needed.

Getting rid of the cleaning agents and bed sheets or towels must comply with strict government regulations. To start this business you need the best cleaning and protective gear.

Then register your company and offer your services to private hospitals and health centers. The scope of work and contractual agreement dictates your charges.

15. Open a hospital

One of the most lucrative ventures is running your own private hospital. Every hospital is administered by a certified doctor. The doctor should be registered with the medical council of the country.

Make sure the hospital has all the permits, licensing regarding such an establishment. Things to consider include appropriate medical equipment, highly qualified staff, and utilities. The size of the hospital depends on your level of funding.

16. Retail medical equipment

Retailing medical equipment is profitable, slightly challenging. Make sure the equipment is high quality, sourced from trusted manufacturers. Much medical equipment used in hospitals is disposable depending on the function. Your top customers are healthcare centers, hospitals, maternity clinics.

17. Start a non-emergency transport service

Private individuals can start a non emergency transport service. The primary equipment is the emergency vehicle. The personnel accompanying the vehicle should have basic first aid knowledge and certification. The driver should hold a commercial driving license with years of emergency transport business.

18. Organize health related seminars

Many people are making six figure income organizing seminars.  Popular topics in seminars include marketing, startup business and healthcare. To organize the seminar find good location, create manuals, presentation reading material. You need to have deep knowledge of the subject matter.

19. Open a veterinary clinic

Only a qualified veterinarian should open a veterinary clinic. However, regular folks can hire a qualified veterinarian to work in the clinic.

The business is profitable because of large number of domestic pets that need regular attention. The clinic could argument income by breeding dogs for sale. They also sell pet food, supplements and treats.

20. Open an elderly care center

Due to advancement in healthcare more people are living longer. The elderly need constant care and attention. Opening an elderly care center is profitable and benefit to your community.

You need good care givers with a background in nursing to tend to residents. Try to network with emergency transport service providers and hospitals.

21. Produce orthopedic mattresses

Every hospital, clinic or fertility center needs orthopedic mattresses. Specializing in this sector is rewarding and lucrative. Make sure your product has good quality and is affordable.

22. Start a fertility clinic

Some married couples have serious challenges when it comes to having children. They might decide to visit a fertility clinic to improve their chances. Fertility clinics make good money providing their service. The clinic should have a resident doctor including fertility experts.

23. Sell medical health insurance

There are hundred of insurance packages offered by insurance firms. Why not offer your clients medical health insurance. You can work as a sales representative of an insurance firm and reach out to families, companies, individuals.

24. Open a dermatologist center

A dermatologist job has to do with skincare issues. You need specialist training to become a dermatologist. Open the clinic close to a hospital, beauty spa and fitness center.

25. Start a blood bank

The availability of blood during emergency procedures or accident is a life saver. There are many private blood banks with good reputation. Make sure the blood is screen and free from deadly diseases. You need a powerful storage facility to preserve the blood.

26. Start a healthcare blog

Blogging could be lucrative if the webmaster is ready to put in the work. start a blog based on your expertise and post regularly.

Conduct extensive research on health related topics to provide quality posts. Monetize the blog through affiliate programs or advertisement. You can sell an eBook or manual to your readers.

27. Go into medical waste management

Medical waste management is serious business. The amount of waste produced in medical facilities is huge. The operator needs to protect themselves from contacting diseases and proper waste management practices. It is important you go for comprehensive training to handle such harmful waste.

28. Manufacture wheelchairs

Wheelchair manufacturing is a specialized field. The make should you study the completion to come up with a good marketing and business plan. Make sure the wheelchairs you produce are rugged, durable, functional.

29. Produce herbal medicine

Herbal medicine is popular in many outcries. They are consumed as an alternative to pharmaceutical drugs. The business is a billion dollar industry with many players. Make sure you carryout extensive research, testing before offering them to consumers.

30. Make eye glass frames

Eye glass frames come in different shapes and sizes. The medicated frames are expensive, trendy and rugged. Frames could cost from a few dollars to thousand dollars depending on the design, material and functionality. You can make frames to order or mass produce a design.

31. Publish healthcare magazine

Publish a weekly or monthly magazine is moderately challenging. You need knowledge of printing and good content. Hire writers or professionals in the healthcare for quality posts. You need a good distribution network, proper editing and pictures.

32. Start a healthcare program on television/radio

Many practitioners are interested in owning a television programs. Healthcare programs are popular with television audience. The program needs corporate sponsors to fill advertisement slots for the program to air. You could also consider radio health related programs.

33. Open a medical healthcare center

Medical health centers offer basic healthcare services. They are not hospitals but provide medical checkups, advice, screening for different ailments. The center should have a qualified physician and appropriate medical supplies.

34. Manufacture cotton wool

Cotton is an essential item used in hospitals. It is used to clean, bruises, cuts and scars. Medicl facilities use huge amount of the product daily so manufacturing them is good business. To manufacture cotton buy equipment, secure a factory and operational license. Make sure the cotton you produce are of good quality.

35. Start an eye clinic

Only a qualified eye physician is permitted to open n eye clinic. The costs include specified eye test equipment, drugs, glasses.

36. Manufacture medical equipment

Medical equipment's are devised to carry out specific tasks. A manufacturer could focus on one aspect of medicine to supply such equipment. The equipment should have proper standardization according to each implements specification.

37. Make needles and syringes

The most used medical implement is the needles, syringes. They are used to administer medication to patients. The manufacturers of such products make good money producing the implements.

38. Open a dental clinic

Most people have experienced the pain associated with toothache. To run a dental clinic you need a Bachelors, Masters in dental care. Attend the school of dentistry to acquire appropriate knowledge of the profession. You can operate a small dental clinic with all the appropriate equipment.

39. Open a psychiatric care center

There are many people going bunkers for different reasons. Some include the use of hard drugs or abuse of prescription drugs. Others may have suffered from trauma or physiological issues. Psychiatric centers are few in most countries so opening one could be beneficial to your community.

40. Become a medical consultant

Consultancy is a lucrative way to earn money from your professional knowledge. To become a medical consultant is not easy. This is because you need to first become a doctor then pass several stages/examinations. You also need to specialize in a particular field of medicine.

About healthcare business

If you are seeking a business in the healthcare sector there are many opportunities. Healthcare business in India is huge and businessmen can discover the sector that best appeals to them.

The business templates goes from low financial involvement to high depending on which type of business you like.