The rising Indian population has been a major factor behind the transformation and booming of the healthcare industry in India.
The rising prosperity of Indians has resulted in dual disease burden, followed by a continuing rise in communicable diseases. The increasing lifestyle diseases and the growing aging population has made the healthcare industry expand drastically, allowing the healthcare brands to emerge and cater accordingly.
According to a report, the Indian healthcare industry carries the potential to witness the same growth that the software industry showed in the past decade. The healthcare industry has grown to $81.3 billion in 2013 and is now projected to rise to 17% by 2020.
The existence of several popular medical colleges in Madurai has always been a hub of attraction for medical students and investors. The city has successfully utilized technology as a tool, enhancing productivity in every possible manner.
Therefore, establishing a healthcare business in Madurai could be among the best business decision in today’s time for sustaining and earning quick in this quickly transforming industry.
The Rise of Telemedicine
The rise in demand of telemedicine in India is highly contributing towards the evolution of the Indian healthcare industry. The sector is recording tremendous growth, witnessing a giant leap in providing services to the customers.
According to statista.com, there are many rural areas that are still untapped and could be targeted in order to establish a successful healthcare business.
Healthcare investors could target their desired clients by offering quality healthcare services, professional consultation, effective treatment, and timely diagnosis.
Additionally, the government has also proposed some positive initiatives towards transforming the Indian healthcare industry including cities like Madurai.
The Entry of Healthcare Startups
Today’s startups understand the importance of digitalization and use it as their most effective tool. The new and innovative ideas towards enhancing customer’s experience and treatment can explain how lucrative this space is.
You could also utilize technology as a major tool offering the online appointment to online pharmacies. Many startups are establishing in-house healthcare that is emerging as the latest trend in the healthcare industry.
These startups are catering to people of all the age group, constantly working towards enhancing the treatment procedures.
The current technology penetration, growing population, advancing economy, and accelerating healthcare industry are all responsible for the increased demand in digital healthcare.
Those who want to start their own business or take up franchises can join in the FRO 2018, happening in Chennai on 15-16 December, to know more about the franchise business, financial advices, and business advices from the experts. Meet the investors personally and participate to change the small world of business.