Eight in ten people have cut back on spending within the last six months, according to a survey done by Medifast. Shopping, entertainment, and food have all seen drastic cuts in American households. However, according to the Medifast survey, 70% of Americans refuse to spend less on their health. Fifty-five percent say they would pay any amount of money on health.
If you’re still trying to figure out what type of company to start, looking into the health industry isn’t a bad idea. IBISWorld shows in 2022, revenue for hospitals in the U.S. was $1.327.4 billion, health and medical insurance revenue was $1.131.1 billion, and drug, cosmetic, & toiletry wholesaling revenue was $1.202.2 billion. There are multiple businesses in the health industry to consider as an entrepreneur.
First, you could create a mobile healthcare app. While there are many already on the market, there is always a need for better and various solutions. According to Appinventiv, the healthcare app market is expanding as patients and healthcare professionals become more comfortable with them. You should research and look for medical apps that need to be invented.
The second healthcare business idea to consider is starting your own in-home healthcare business. Everyone will experience aging, and most will experience various illnesses, making in-home healthcare a reliable and profitable business.
Writers are also needed in the healthcare industry. The third business to consider is medical blogging. One example of this is WebMD. While it can cause more worry, the site also provides information that is easy to understand, especially if you’re not a medical professional.
Alternative medical services are also on the rise. These services include massage therapy, acupuncture, and homeopathy. According to Appinventiv, research predicts from now through 2028, the market for alternative medicine will develop at an annual growth rate of 22.03%.
Last, if fashion is your passion creating better scrubs and uniforms for medical professionals is always needed.
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