Opportunities for Healthcare Franchise in India

on Nov 02, 2018 | 5628 views

Healthcare, unlike any other industry, is one filled with helping people recover or sustain an ailment or illness they are going through. As the world's population increases by the minute and living conditions aren't exactly the healthiest nowadays in this fast world, more people need health care and medical attention, be it for a simple ailment, an allergy, or a serious illness.

The healthcare sector has become one of the largest, in terms of both employment number and annual revenue. This industry looks at everything from hospitals and their franchises, medical supply franchise opportunities, clinics and dental, and even medical tourism. 

How the demand for healthcare has increased:

To think of the fact that people used to just neglect a cold or a fever, take rest and resort to home-based medication just a few years ago is astonishing for us all in this current generation. Our generation, the ones living in the so-called fast lane of life, do not have the time or patience to let a fever or cold to go down on its own, we all pop a pill and get going up and about our regular lives, because "time is money". Unfortunately, this mindset has made the healthcare industry one of the most profitable ones today. Not just for illness treatment, but for cosmetic and correctional surgeries, and other beauty enhancement procedures, people do not hesitate any more.

Business perspective and Market size:

Through a business point of view, the healthcare industry has its perks. Assured customer base no matter where you set up and assured working staff availability too. In the financial year of 2017, the Indian hospital and healthcare industry looked at a staggering revenue of about 3 Billion US Dollars. In just one year, this number doubled to $6Billion (FY2018). And according to surveys and statistical analysis done keeping this trend in mind, by the year 2022, this industry is expected to peak at a rate of 133.44Billion USD, that is about 8.6 Trillion Rupees.

People from all around the world are flocking to India, to get quality medical treatment, guaranteed results and care, all this at an affordable and economic rate as compared to other nations. This has created what is now called medical tourism, comprising of people coming into India from other countries purely for treatment and surgical procedures. India has experienced a 22 to 25% growth in medical tourism and is estimated to grow further.

How you could join them:

Investing as a franchisee in the healthcare industry becomes less of a hassle, once the target aspect of the industry is decided. You could choose from any of the many aspects and sectors such as hospitals and diagnostics, pharmaceuticals, medicine and medical supplies franchises and many more. Each sector has its own set of risks and benefits.

A hospital franchise in India could cost anywhere between 40-50 Lakhs to 5-6 Crores as an investment and a space requirement ranging between 700 sq. ft all the way to 5000 sq. ft.

Whereas a pharmaceuticals franchise would require a base investment ranging anywhere between 10,000 Rupees to Rs.3-4 lakhs and a basic space requirement that would satisfy your needs. There are numerous medical supply franchise opportunities you could join.

India is overflowing with opportunities, waiting to be grabbed by the players of the medical and healthcare industry. It is among the fastest growing sectors of the market and is estimated to be worth $280 billion by the year 2020. Be it high-end diagnostics and surgeries, or basic clinics and pharmaceuticals, opportunities are everywhere. What are you waiting for? Visit the FranchiseBazar website and choose among the best available franchises of the healthcare industry.

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