Looking For A Profitable Business In Healthcare Industry? Consider These Franchise Opportunities
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The Indian Healthcare Industry is growing at a CAGR of 15% and is expected to touch USD 250 billion by 2020. Investing in healthcare franchise can be really profitable owing to rising disposable income, increasing ageing population, rising literacy level and improved medical infrastructure. Here are the top franchising opportunities in the healthcare industry in India.
Pharmaceutical Franchise is authorization of marketing and distribution rights provided by a pharmaceutical company to pharma professional or distributor. The Indian pharmaceutical industry has remained on a strong growth trajectory, over the past few years. The industry is marked with high fragmentation and relatively low drug prices, as compared with the regulated markets. The industry is majorly driven by knowledge, skills, low production costs, and quality. Due to this, there is demand from both domestic as well as international markets. India’s pharmaceutical industry is expected to expand at a CAGR of 22.4 per cent over 2015–20 to reach US$ 55 billion.
The Indian healthcare sector is driven by the hospital industry, which accounts for 70% of the sector. Investing in a hospital franchise can prove to be a very lucrative business opportunity. Factors such as rise in per capita spending on quality healthcare change in demographic profile, transition in disease profiles etc. are expected to spur industry growth. Indian Hospital Industry also attracts foreign direct investment.
Diagnostics & Pathology
The industry is highly fragmented and encompasses over 40,000 laboratories chains spread across urban cities. The Indian diagnostic market is growing at nearly 15-20% and is estimated to be currently worth ₹40,000 Cr. Cash into the emerging market of Tier II and III cities by starting a diagnostics centre franchise.
Medical Devices & Equipment Franchise
The Indian Medical Device industry is currently valued at around USD 3.5 billion. The industry has evolved significantly in the last decade with government and industry taking several initiatives to develop the market. Get involved with leading medical device companies via franchising and get handsome revenue on your investment.
Retail Pharmacy Franchise
Retail chain pharmacy outlets are a new trend that has emerged in India in past few years. The pharmacy sector forms the second largest share in the Indian healthcare sector. Pharmacy retailing is on the verge of becoming more organized and shall corporatize as retail chain pharmacy outlet. Thus, starting a retail pharmacy franchise will earn you huge profits. India’s domestic pharmacy retail market is estimated at approximately USD 6 billion.
The article was originally published on Franchise India by Sneha Santra.