INNOVATIVE HEALTHCARE BUSINESS IDEAS FOR STARTUPS AND ASPIRING ENTREPRENEURS

1. Publish Date: 24 May 2023 INNOVATIVE HEALTHCARE BUSINESS IDEAS FOR STARTUPS AND ASPIRING ENTREPRENEURS The healthcare industry is getting bigger and bigger day by day with the growing adoption of new technologies. According to the latest market report by Precedence Research, the global digital health market is forecast to reach a whopping $939.54 Billion by 2032 at a CAGR of 13.1%, which was recorded at $262.63 Billion in 2022. Source From telehealth to mhealth and digital health to wearable health, the healthcare sector has turned into a broader and future-proof domain for 21st-century business people. Whether you are a startup or an entrepreneur, the healthcare industry provides immense business opportunities to establish your venture. © 2022-2023 RipenApps Technologies. All Rights Reserved.

2. If you think you have an innovative solution that could bring a disruptive change in healthcare sector, you can make millions or even billions of dollars through your business model. And if you don't have such ideas, here in this post, we have brought 10 innovative healthcare business ideas for startups and aspiring entrepreneurs. 1. Health and Wellness App Modern people are more health conscious than ever. Today, they don't fall behind in using innovative technologies or smart solutions to keep them fit and fine. Therefore, there is a drastic demand for intelligent and smart healthcare solutions which empower users with innovative and great problem-solving abilities. Hence, you can consult the best mobile app development company to develop powerful and feature-rich healthcare apps which help people to maintain their health & wellness nicely and efficiently. A smart health and wellness app should have a variety of features to enable people to track and improve their lifestyle in all aspects. 2. On-Demand Healthcare Services On-demand services are among the fastest-growing domains. It allows users to avail of services on their doorsteps or homes by simply tapping a few clicks. People highly prefer using on-demand applications to order and get services at their homes without going outside. Therefore, developing an application that allows people to avail healthcare services could be one of the great healthcare business ideas. This application could provide many facilities such as doctor on-demand, home health check-ups, etc. And there are sometimes serious situations where people can't go outside due to health issues. Hence, on-demand healthcare services are a beneficial concept. © 2022-2023 RipenApps Technologies. All Rights Reserved.

3. 3. Virtual Reality Therapy Virtual reality is an innovative technology that is emerging profusely for the past few years. Its ability to enable users to visualize custom or personalized environments makes it a highly useful technology for healthcare. Virtual reality therapy is an innovative concept that is used to treat patients with mental health issues. Medical professionals use virtual reality technology in healthcare to treat anxiety, phobias, post-traumatic stress disorders, and other mental health diseases. And impressively, it has been proven an effective tool for treating these issues as well. Source. Hence, the scope for virtual reality therapy will increase more in the future. 4. Telemedicine Service Telemedicine is a revolutionary service in the entire healthcare sector. It has brought a dramatic change and transformed the way patients and doctors interact with each other. With telemedicine, people can access plenty of medical and healthcare services digitally through mobile apps or web platforms. Patients can meet doctors online through video conferencing, get online prescriptions, and more. Due to its extensive usability, the demand for telemedicine app development and digital solutions is growing significantly. As per Fortune Business Insights Reports, the global telemedicine market is estimated to rise from $79.79 Billion to $396.7 Billion by 2027 at a CAGR of 25.8%. Hence, building an innovative telemedicine solution could be a great healthcare business concept. Source © 2022-2023 RipenApps Technologies. All Rights Reserved.

4. 5. Medical Transportation Service App Medical transportation service app is a mobile application that allows people to book vehicles for non-emergency healthcare purposes. This application helps patients book medical transport who can't move outside due to physical disability. A medical transportation service app is a very useful healthcare business concept since it provides an on-demand ride facility solely meant for medical or healthcare. Startups and entrepreneurs can launch a dedicated medical transportation app like Uber, LYFT. 6. Become a Diet & Nutritionist Expert As people are becoming more concerned about their health & wellness, the need for experts who can guide people lead a balanced and healthy life is high. You can become a diet & nutritionist expert or launch a dedicated application that gives expert tips and guidance on foods and diet to maintain a healthy life. At present, people often have to visit clinics for getting medical advice on choosing diet and foods. But a diet & nutritionist expert could help people digitally from any location and assist people in saving time, cost and effort. Hence, it is a highly useful healthcare business idea for healthcare. © 2022-2023 RipenApps Technologies. All Rights Reserved.

5. 7. Wearable Health Tech Wearable technology is shaping the healthcare industry in a disruptive way. Smartwatches, fitness trackers, ECG monitors, and blood pressure monitors, there are a variety of wearable devices which are used in several aspects of healthcare. Wearable technology provides a great scope for offering innovative and smart digital healthcare solutions. You can develop a mobile app backed with wearable technology that empowers people to track or monitor their health more efficiently. For example, a healthcare application for Smartwatch comes with features to track BP, Oxygen level, calories, and other useful metrics. 8. Remote Patient Monitoring Remote patient monitoring is one of the top emerging trends in the healthcare and medical industry. It enables doctors and medical institutions to remotely monitor their patients through a digital platform. With a remote patient monitoring application, medical professionals can easily keep a watch over their patients from any location. This system helps both patients and the medical sector in several ways. Patients who need in-person care for chronic diseases or even non- serious diseases can be easily monitored online through a remote monitoring platform. And medical institutions can also keep track of a large number of patients from a single place. Hence, developing a remote patient monitoring software or platform is a future-proof business concept. © 2022-2023 RipenApps Technologies. All Rights Reserved.

6. 9. mHealth apps mHealth apps are extremely popular these days. As cases of mental health issues are growing, people today need a secure and convenient way to cope with mental health diseases. And mhealth apps here help people by providing a personalized and secure way to improve their mental well- being. Mental health applications offer great features and resources for managing stress, anxiety, depression, and other issues. Calm, Headspace, MyFitnessPal, MyChart, etc are widely used mhealth apps which are generating millions of dollars in business revenue. And the way its market is expanding, investing in mhealth app development is certainly a great healthcare business idea. The market report suggests that the global mhealth apps market is projected to attain $314.6 Billion by 2028 at a whopping CAGR of 34.8%. Source 10. Women Healthcare Apps Although there are facilities available for women's healthcare in hospitals and clinics. There is a dedicated need for women's healthcare applications. And this need is due to the growing concern about privacy and secrecy in women's health. In the current time, women need healthcare solutions that offer them secure, effective, confidential, time and cost-efficient facilities to manage their lifestyle and diseases. And women healthcare applications provide personalized and customized resources and guiding tips. Thus, startups and entrepreneurs can come up with innovative healthcare apps especially meant for women's healthcare. Clue, Eve, and Natural Cycles are famous examples. © 2022-2023 RipenApps Technologies. All Rights Reserved.

7. Conclusion The healthcare sector is evolving dramatically due to the massive adoption of digital transformation and technological innovation. And this transformation gives great opportunity for startups and entrepreneurs who want to establish their business venture in the healthcare industry. These innovative healthcare business ideas have the potential to solve healthcare problems effectively and enable business owners to set up innovative business models in the future. However, you would need to hire dedicated app developers who can assist you turn your innovative idea into a result-driven healthcare application Blog Originally Published Here- https://www.infoguideafrica.com/2023/05/10-innovative-healthcare- business-ideas.html © 2022-2023 RipenApps Technologies. All Rights Reserved.