• Top Stories

With the rapid economic growth that India has witnessed over the past two decades, and the rise in per capita it has led to, people’s demand for quality healthcare has also gone up manifold. Besides, the general disease profile is shifting from infectious to that based on lifestyle. Together, this health infrastructure serves a population of over 1 billion, which is growing at about 2 percent annually. India’s over 300-million strong middle class is further driving unprecedented demand for quality healthcare. Confederation of Indian Industries (CII) calculation suggests that from the current requirement of 1,238,604 hospital beds, India needs to add another 1.74 million beds by 2027. Thus, the country will need investments to the tune of Rs.2.11 lakh crore by 2018 and an additional Rs.2.90 lakh crore of investments during 2018 to 2027.
As per an Assocham report, India’s healthcare sector is expected to grow 23 percent annually to become a Rs.3,46,500-crore industry by 2012, and contributing 5.2 percent to the country’s GDP.
According to the Investment Commission of India, the country’s healthcare industry has seen a compounded annual growth rate of 12 percent in the last four years, mainly on the back of factors like an increased life expectancy rate, growing number of lifestyle-related diseases, rising income levels and an increase in the health insurance level. The industry is projected to grow an even higher rate in the years ahead to become a Rs.3.5-lakh crore industry by 2012. If these figures are anything to go by, the sector certainly has a great deal of opportunity to offer to entrepreneurs.
Over the last two years, the healthcare industry has been witness to many big-ticket mergers & acquisitions and forays. Many established players have expanded the scope of their businesses and their growth has drawn many others from various sectors, and even newbies, making the healthcare sector the new investment hotspot. According to experts, the years ahead look even brighter for the industry, with addition of new hospitals, deeper penetration of super-specialty healthcare, greater reach of insurance facilities and increasing medical tourism. All of these put together, this sector looks like a sure recipe for growth and bright job opportunities.
Here are some key areas where time is ripe for entrepreneurs to make headway:

Preventive healthcare
Startup cost: Rs.50 lakh or above
Running expenses: Close to Rs.5 lakh a month
Break-even point: One year
Number of people required: 10 or more
Franchise options: No

Preventive healthcare is assuming greater importance in the Indian healthcare sector. With a change in the social outlook, the idea of going to a hospital only after one falls ill is becoming a story of the past. Now, people have begun to take steps to keep illness at bay through precautionary and preventive measures. Wellness today is a big area that entrepreneurs can tap into. Preventive healthcare also includes the nutraceutical segment. For example, people now focus more on what they eat and drink. They buy products from markets only after checking the ingredients and ensuring none of those would have a negative impact on them. Entrepreneurs can also look at starting nutritional training classes and programs to tap the opportunities there.
Preventive healthcare is an area with a lot of potential and will grow substantially in the years ahead, experts say.
With urban lifestyle, a byproduct of the rapid urbanization, becoming the order of the day lately, periodic health check-ups have also become the need of the hour, for early detection of lifestyle-related risks and diseases. This is particularly true for silent diseases like diabetes, obesity, hypertension, stress, high cholesterol levels and cardiovascular diseases.
Major hospital chains in the country have seen in a spurt in the number and frequency of preventive health check-ups. To tap the possibilities this provides, even hospitals have begun to set up dedicated special wings for preventive health-checks and provide additional lucrative add-ons along with them. Entrepreneurial opportunities exist in healthcare awareness, wellness clinics, preventive health check up centers amongst others.
Hospital facility management

Startup cost: Rs.50 lakh upwards
Running expenses: Rs.5 lakh
Break-even point: Two years
Number of people required: 10 to 12
Franchise options: No
India today is plagued by a shortage of hospital facility management services. As the number of patients grows, so does the number of hospitals. Hospital management services include supporting doctors, nurses, and non-clinical staff to enhance the healing process at a hospital. This, in turn, helps hospital staff stay focused on treating patients in the best possible way.
There is a great opportunity for entrepreneurs to foray into this segment. Not only does it provide a lucrative business possibility, but would also change the face of hospital care in the country.
Hospital management includes providing a support system, from drug distribution, clinical technology management, mail services, call centre, security services, meeting room and conference centre management to laundry services, accounting and HR support, to hospital staff to focus on their clinical activities. Motivating the staff in such a way that it enhances the quality of recovery process also comes under hospital management. To focus on their core activities, hospitals today tend to outsource these services. This, in turn, provides huge opportunities for entrepreneurs.
At present, global companies like Sodexo have already moved into the facility management for hospitals in the country and are doing profitable business here Apollo Group is another major player in the area that provides facility management services to as many as 14 of its client hospitals. Experts predict a remarkable growth in the hospital facility management segment in future

Consultancy
Startup cost: Rs.50 lakh or above
Running expenses: Rs.50,000 or above
Break-even point: One year
Number of people required: One, or according the business model
Franchise options: No
Setting up a hospital with all modern facilities is not a child’s play. One needs assistance to do the Herculean task, starting from deciding on a suitable location to construction and hiring the staff to putting in place the required amenities. This is when consultancy services are needed.
Healthcare consultancy is an area that has had a lot of action in the past decade. With more companies getting into the healthcare business in the last 10 years or so, consultancy services have seen remarkable growth in the country. Organizations like PricewaterhouseCoopers, Ernst &Young, McKinsey and Deloitte have now started healthcare consultancy practices to tap emerging opportunity. Market players say this is an area that will grow phenomenally, especially with the recent professionalization of the sector. With growing number of hospitals and related service, consultancy is an area where experts see a huge growth for at least two decades going ahead.
Youth healthcare
Startup cost: Approximately Rs.50 lakh
Running expenses: Close to Rs.5 lakh a month
Break-even point: Two years
Number of people required: Four or more
Franchise options: No
A change in general lifestyle essentially hits the young population first, especially because this is the most inflexible lot that is the most open to change and embraces it before older people. This characteristic also makes the young people the most vulnerable, needing healthcare facilities the most.
Sample this: The average age in which a person may suffer a heart attack today has come down to 30 years, from 40 years a few years earlier. This is mainly attributed to today’s changing lifestyles. In fact, the rate of coronary heart disease among Indians, particularly young men, is almost twice as high as their western counterparts. Improper food habits, lack of physical activity, coupled with high level of stress and increase in alcohol and tobacco consumption, are all the main risk factors that can place the young population high in the risk zone of many diseases.
This may be the flip side of being a young nation, but, with more than 50 percent of the country’s total population below the age of 25 and 65 percent under 35 years, majority of Indians have the risk of contracting lifestyle-related diseases.
Youth healthcare, therefore, has a lot of potential for entrepreneurs, especially because this area has largely been untapped so far, even as it is set to grow in the times to come. Entrepreneurs can get into specialized youth healthcare by setting up fitness focused centers or specialized counseling. They can also set up centers dedicated to ailments that hit youth the most.
Working professional healthcare
Startup cost: Approximately Rs.50 lakh
Running expenses: Close to Rs.5 lakh a month
Break-even point: Two years
Number of people required: Four or more
Franchise options: No
As the world, along with India, gets highly professional, each individual today has to don many hats. In striking a minimum balance in professional and personal life, at the same time toiling to meet targets and expectations on both fronts, people find themselves in a situation where it is no surprise that their stress level is hitting the roof. Lifestyle, too, has a crucial role to play when one talks about working professional healthcare. As the stress level rises, one goes on becoming more prone to diseases. This, too, is an area that can offer a good platform to entrepreneurs to venture into. Experts and market players predict that the working professionals of the country would soon have lot of money but no time to devote to personal health maintenance and will be in need of proper healthcare services. Focusing on this area, insurance companies have done great business.
Indian information technology majors like Wipro and Infosys have developed in-house programs for their employees’ wellbeing. Infosys, for its employees in India and Australia, has come up with Health Assessment Lifestyle Enrichment (HALE) to reduce stress and absenteeism. Similarly, Wipro runs Mitra, a program to help its employees in IT and BPO businesses cut down on their emotional stress. Initiatives like these have now become part of corporate social responsibility, which also helps companies in their brand-building exercise as well.
Women healthcare
Startup cost: Approximately Rs.50 lakh
Running expenses: Close to Rs.5 lakh a month
Break-even point: Two years
Number of people required: At least five
Franchise options: No
The last two decades have been remarkable for India also because of the many social reforms seen during the period. Earlier, there used to be a lot of myth around women healthcare. With growing awareness and independence among women, things have changed and the myth seems to have been busted, to quite an extent. As the Indian society has seen a complete makeover from being a male-dominated one to that of equals in every sphere of life, the changing focus of the society has also brought women healthcare into focus. With horizons widening, women, too, are opening up. For example, Indian women today, unlike two decades back, would not hesitate in going for a mammography test, doctors say. However, given physical constraints and increased work pressure, women are more prone to diseases than men; and, with the multiple roles they play in their professional and domestic life, their vulnerability to diseases has only increased. For example, Uterine Fibroid, a disease that used to be typically found during the middle and later reproductive years, is now attacking women of 40 too. This, experts say, is an area where a lot of opportunities lie for entrepreneurs go get into and make a difference.
Since, Indian women usually double up as homemakers and professionals, the additional wear and tear certainly calls for a better healthcare regime. However, there are not many players focusing primarily on this segment in India yet. Although things are gradually improving, especially with the number of female doctors in the country increasing lately, there remains a lot of untapped opportunity in this space.
This calls for entrepreneurs to get into women-focused healthcare services. According to reports, maternal mortality in India is the second highest in the world. Women, especially in rural areas, would need a lot of counseling about healthcare and cleanliness. Urban women again would need a great deal of health-related advice in future. Given this, healthcare counseling for women looks like the brightest idea for an entrepreneur to get into.

Old-age healthcare
Startup cost: Rs.2 lakh-Rs.3 lakh
Running expenses: Rs.20,000
Break-even point: One year
Number of people required: One or more
Franchise options: No
Life expectancy in India has increased significantly since Independence in 1947. Of the country’s total population, 10 percent are old people. Old-age healthcare has traditionally been considered a segment with a lot of potential because it caters to an age group that typically requires medical help more often. In fact, there is a dedicated stream of science in healthcare, Geriatrics, that focuses on elderly people. However, little effort has so far been made in India to develop a model of health and social care in sync with the changing need and time for the ageing population. This segment, therefore, may be a challenge as well as an opportunity for innovation in health system development. This as a sector that is likely to maintain its growth over years, experts say.
Add to this, with the classic joint family system increasingly fading into folklore, average life expectancy increasing and insurance-cum-pension schemes allowing optimum financial independence to elderly people, going ahead, the demand for quality old-age healthcare services looks set to zoom.
India has already achieved significant progress in assisted living—a phenomenon quite popular in the western countries. Several old-age homes have come up in the country and are catering to the healthcare needs of the people in this age group. Home care service for old-age people is in nascent stage in India so far but it is becoming a fast growing opportunity. Specialized counseling is also an area to get into.
Home healthcare
Startup cost: Rs.50,000-Rs.1 lakh
Running expenses: Rs.10,000-Rs.20,000
Break-even point: One month
Number of people required: One
Franchise options: No
Home healthcare is a segment that is common in western countries. But with the changing face of India and the number of the wealthy growing leaps and bounds, focus is largely shifting to convenience. In future, as the country’s economy grows and the business scenario improves, a rising number of Indians would be able to afford healthcare services at their doorsteps.
This segment of healthcare includes monitoring devices, therapeutic devices, interventional devices and home services. Interventional devices include drug delivery mechanisms; for instance, those used by diabetics. Home services include in-house nurse care and other services aided by state-of-the-art technologies. The monitoring devices range from the ubiquitous thermometers to devices capable of monitoring vital parameters of an individual, such as ECG, Heart Rate, SpO2 and so on.
According to a KPMG report, the home healthcare industry in India consists of around 5,000 small and large organizations, largely unorganized.
Companies like Philips and GE have entered the market with sleep care and home respiratory care solutions. Sleep apnoea, a common disorder that around 35-40 million people in India suffer from, is a commonly targeted disease in this segment.
A variety of home healthcare services are offered by Metropolis Health Services, Medinova, Apollo Hospital, Dr Lal Pathlabs and Religare. These players offer a wide range of tests, such as X-rays, ultrasound and ECG, besides an array of pathological tests, at patients’ doorsteps.
India has the second-largest elderly population in absolute numbers. Today, since older people are also becoming increasingly active in managing their own health and wellness, in future, the senior citizens of the country will be empowered, technologically-savvy healthcare consumers playing an active role in the management of their own healthcare. They are most likely to want and expect medical care at home and on the go. All these provide an excellent opportunity for entrepreneurs to consider this segment as a possible area to venture into.
Diet counseling
Startup cost: Rs.2 lakh-Rs.3 lakh
Running expenses: Rs.50,000 or more
Break-even point: One year
Number of people required: One or as per model
Franchise options: No
This area, again, comes under the wellness agenda. With heavy labor and odd work hours in a new lifestyle scenario taking heavy toll on health, people are increasingly becoming conscious of their dietary regime. As the nature of growth in the country shifts from ‘roti, kapda aur makaan’ to ‘health and education’, the outlook towards diet has completely changed.
This is another of the areas that, according to experts, should grow in the overall wellness agenda. However, there also is a section of market players that does not see much happening in this segment. Their argument is that nobody goes to a specialist dietician, unless directed by a doctor. People visit fitness centers, where they get dietary advice too. That looks like roadblock for entrepreneurs looking to enter this segment. However, one good point here is the low input cost involved which allows an entrepreneur to begin with even if he has a limited initial capital.
On the other hand, there also is a school of thought that strongly believes that diet counseling will go miles very soon. With all kinds of products available in the market, a customer goes more by his or her own fancy than focusing on nutrition. As the food and beverages market flourishes, there could be a huge opportunity for dietary counseling.
Biotechnology
Startup cost: Rs.50 lakh or more
Running expenses: Rs.5 lakh a month or more
Break-even point: Two years
Number of people required: Five plus
Franchise options: No
As per estimates, the Indian biotechnology Industry is estimated to be garnering revenues of Rs.52,200 crore by 2017. Some of the key factors driving the biotechnology sphere are the capital infusion from foreign players, increasing research & development in the area, investments from both private and public sectors, etc. Another key factor with direct impact on the market is the evolution of contract research and refurbished clinical capabilities in drug discovery. These have provided opportunities to global players to set up manufacturing bases in the country and leverage the outsourcing option.
Even as the Indian biotechnology industry was hit by the global economic slowdown of 2008-09 and bore a significant impact on its bottom line, the industry has continued to clock positive, albeit decelerated, rate of growth in the post-recession years.
In 2010, the sector bounced back. With favorable fundamentals on its side, it is poised to witness another phase of high growth in the times to come, as drug developers worldwide have begun to look at India as a low-cost destination to outsource their discovery and production work.
For India, which at present accounts for a share of about 2 percent in the global biotech industry, the sector is touted as the next big thing on the world stage. Despite its humble share of the global market as of now, the Indian biotech industry has a remarkable growth potential in the ensuing years, given its emergence as a hub with quality skills and knowledge and cost-effectiveness, besides the requisite infrastructure.
Highly technology-intensive, the biotech segment in India ranks among the top 12 biotech industries globally and is the third-largest player in Asia after Japan and South Korea.
According to a research report titled ‘Biotechnology in India: A Market Report’, over 350 companies operate in the biotechnology sector in the country at present. These include some big names like Biocon, Serum Institute of India, and Panacea Biotech, apart from emerging ones like Nuziveedu Seeds, Reliance Life Sciences, Quintiles, Rasi Seeds, Novo Nordisk, Shantha Biotechnics and Mahyco.
The bio-pharmaceutical sector, which primarily comprises therapeutic drugs, vaccines, animal biologicals, insulin, diagnostics and statins, continues to account for the largest share in total revenues of the biotech industry in the country, the report says. Within the bio-pharma sector, vaccines—animal and human—account for the largest share. Owing to awareness about disease prevention, education, government participation and higher disposable income, the vaccines market is expected to continue pumping in high growth numbers into the bio-pharma segment.
Meanwhile, the bio-services sector continues to flourish, deriving a major portion of its revenues from exports. Several companies have entered into clinical research and contract research services in the past five years. This trend is expected to continue further, primarily on account of the strong potential this sector has to offer and the remarkable growth experience it has had in the recent years.
According to experts, this is an area that looks very bright and attractive for entrepreneurs in India. Apart from a big-budget hospital or manufacturing set-up, an entrepreneur can help in providing research assistance and technical support to existing players in the segment.
Even as we look at it as a new-age phenomenon at present, there is a lot to be done in the segment. Though biotech is growing fast on the back of its multidimensional usage, countries like China, Cuba and South Korea still continue to be way ahead. Apart from R&D and innovation, a good deal of capital would be required to make a difference in this segment. This is an area which, experts predict, will see a lot of growth in the times ahead and a great number of entrepreneurs getting in.
Stem cell research
Startup cost: Rs.7 crore and Rs.10 crore
Running expenses: Rs.20 lakh a month
Break-even point: Five years
Number of people required: 30 to 40
Franchise options: In some verticals only
Stem cell therapy, which uses bio cells extracted from the same patient or biosuitable alternative human sources, targets diseases that are either incurable or with no complete or effective treatment available in the traditional healthcare system.
According to the Indian Council of Medical Research (ICMR), all stem cell therapy, except bone marrow transplants, is considered experimental in India. However, the guidelines that were put in place in 2007 are largely non-enforceable and stem cell therapy has been legalized in India. Umbilical cord and adult stem cell therapies are now permissible.
Stem cell therapy has so far had 60-80 percent success rate in India and the world.
At present, there are not many players in stem cell technology in the country. This is indicative of the huge untapped space this segment has to offer to new players coming in over the next few years. With the technology picking up rapid pace in the world, the Indian market is set to see phenomenal growth going ahead.
The market for regenerative medicines, which use human cells, is also picking up at a good pace in India, with many companies expanding their product base. Setting up an umbilical cord bank is an area for entrepreneurs. It, however, requires a lot of investment. Research-base support and teach supply area another big areas for upcoming entrepreneurs.
Wireless health devices
Startup cost: Rs.10 crore or above
Running expenses: Close to Rs.10 lakh a month
Break-even point: Two years
Number of people required: At least five experts
Franchise options: No
The use of technology in healthcare sector has grown immensely in the country. The healthcare sector is collaborating with technology to make its facilities better. However, experts feel this is a highly capital-intensive area, which requires a lot of innovation. This, at present, looks more like a bright idea in health innovation rather than an opportunity, say experts.
Modern healthcare is at a critical juncture and bold solutions are needed to augment strained resources and address inefficiencies in the system, enable personal health management, and increase convenience. Today’s advanced wireless devices, applications and services are gradually becoming a part of the healthcare system. There is a huge scope in the field of innovative wireless medical device, to improving quality healthcare services in the country.
Healthcare professionals today feel that to use the wireless technology, the integration of the clinical and operational process is essential. Any development of technological solutions by upcoming entrepreneurs for handheld devices would benefit the segment. This is another segment that required huge investment.
Gene mapping
Startup cost: Rs.7 crore-Rs.10 crore
Running expenses: At least Rs.20 lakh a month
Break-even point: Five years
Number of people required: 30 to 40
Franchise options: In some verticals only
It was nothing short of a revolution in life science when the human genome program got completed in 2005. With the high scope of implications the technology holds, it can offer a huge potential to an entrepreneur. A lot of research is still underway on the subject globally. According to experts, this is the best time for an entrepreneur to get into gene mapping, a sector that has a lot of promise for future.
Companies in India have already started selling gene-mapping equipments. The revenues earned from these sales this year stand at Rs.200 crore.
The genome order symbolizes the hereditary characteristics of human beings and human genome mapping is set to become a milestone in India’s healthcare segment—something with the potential to altogether change the face of health treatment. Genome mapping will help minimize the highly expensive medical check-ups, improve diagnostic techniques and develop effective preventive medicines. Today, India has successfully made a foothold among countries like the U.S., Britain, Canada, South Korea and China—the pioneers in the area genome mapping.
In this segment also, an entrepreneur can get into research assistance, technology providing and back-end support apart from a full-fledged gene-mapping set-up.

Telemedicine
Startup cost: Rs.3 lakh-Rs.4 lakh
Running expenses: Rs.50,000
Break-even point: One year
Number of people required: Four-five
Franchise options: No
The development of the telemedicine model has ensured that curative or preventive medical services could now be provided even without a service provider being physically present in the proximity of a patient. This model helps deliver healthcare services to remote or distant locations through technology.
Telemedicine could provide telediagnosis, especially in the areas of cardiology, pathology, dermatology, and radiology; besides Continuing Medical Education—a way to impart medical education from a remote location through the use of technology. Telemedicine could be useful for diagnostic and consultative purposes for patients getting treatment from secondary-level healthcare facilities. The efficacy of telemedicine has already been shown through the network established by the Indian Space Research Organization. This is an area that is still coming of age in India and holds a lot of promise for those looking to enter the healthcare market.
Access to healthcare in India, especially in remote areas, has been a major concern for decades. Even as 70 per cent of the country’s population lives in rural areas, making adequate provision to serve this large chunk of people has always been a challenge. So, a model like telemedicine becomes ideal for the country, though it is still coming up.
The industry has taken note of this technology since 2000 and, with government initiatives to explore the model even by making satellite connectivity available, much of the development work in this sphere is expected to take place in the next few years.
At present, the active players in this segment, as healthcare providers, are several governmental tertiary care hospitals attached to advance centers in urban areas, besides private healthcare providers like the Apollo group; Narayan Hridayalay ; Amrita Institute of Health Sciences, Kochin; and Fortis Healthcare. Hinduja Hospital has also spread its wings in the segment by introducing rural healthcare program for tribal and rural people in Maharasthra through mobile health units. These units are getting connected to main hospitals through telemedicine for referrals on complex cases and interpretation of diagnostic results. Among technology providers, CISCO is a prominent name.
According to a Frost & Sullivan report, the telemedicine business in India is estimated to expand at a CAGR of 21.6 percent. Entrepreneurs could leverage this growth potential and make headway into the healthcare industry by setting up utilities at remote locations and making medical services available to a larger chunk of the population through the use of telemedicine technology. Alternatively, they could also use this technology to start educational institutes in tier II and tier III cities, with limited infrastructure, and have quality medical educationists from renowned universities training the budding rural youth.

Medical tourism
Startup cost: Rs.50 lakh or above
Running expenses: Rs.2 lakh-Rs.3 lakh or above
Break-even point: Two years
Number of people required: Four-five
Franchise options: No
Medical tourism is an area where India has shown immense potential in the recent years, and has a lot more to offer. But before we discuss the actual opportunities in the segment, we must take into account the basic infrastructure required at the national level for it to come up in a big way. An Ernst & Young industry expert points out that a regulatory body should be put in place to oversee the medical tourist industry.
Some experts and market players feel that even after the hype it has created, it has not yet been able to deliver to its potential and in line with industry projections. When the U.S. was grappling with the economic downturn in 2008, the country had to cut its healthcare cost to check its revenue loss on account of its citizens travelling to India and other countries for cheaper medical facilities. Even in such times, things remained bright for Indian dentists. With its affordable dental healthcare, compared to those in Europe and the U.S., India managed to attract a good number of foreign patients, even during recession. Goa and Kerala remained the favorite destinations for tourism linked with dental healthcare. Given its cost-effectiveness and quality, the country also attracted patients who travelled for open-heart surgeries.
At present, Apollo, Fortis and Medanta are some of the major players in this segment, while several smaller companies are also entering the fray.
According to reports, with India fast becoming a hub for medical tourists seeking quality healthcare at affordable costs, the country’s medical tourism sector is estimated to see a CAGR of 30 percent, making it a Rs.9,500-crore industry by 2015.
An entrepreneur can get into specialized agency business to attract medical tourism in India and provide people with the best deals. Corporates who own hospitals can also provide discounts to foreign patients to help medical tourism in the country.
Medical textile
Startup cost: Approximately Rs.50 lakh
Running expenses: Rs.5 lakh a month
Break-even point: Two years
Number of people required: Five
Franchise options: No
With a rise in healthcare business would come an in-tandem rise in the number of hospital beds and other medical facilities. The medical textile market is gradually emerging and is set to grow manifold in the times to come. The healthcare textile segment in the country is still in its nascent stage at present and there is a lot of scope for it to evolve. The industry, according to healthcare experts, is set to grow at a compound annual growth rate of 10 percent over the next five years.
Being a highly technology-sensitive market, there is still a lot to be done in this segment which, again, makes the role of an entrepreneur very crucial. At present, medical textiles, hospital equipment and consumables account for a revenue churn of Rs.20,000 crore annually.
Medical textile products currently made in the country are mainly the traditional items—cotton gauze, bandages, plasters, etc. Given the demand that the medical textile segment will generate, this sector looks highly attractive for upcoming entrepreneurs, say experts. The opportunities, they point out, will not be limited to medical textile alone and would cross over to hospital furniture and infrastructure too.
Apart from setting up a manufacturing unit in medical textile business, an entrepreneur can also get into supplying required raw material.
Waste management
Startup cost: Rs.50 lakh or more
Running expenses: Close to Rs.5 lakh a month
Break-even point: Two years.
Number of people required: Five
Franchise options: No

The quantity of waste generated in Indian hospitals and clinics is pegged at 1-2 kg per bed per day in a hospital and 600 gm per day per bed in a medical practioner’s private clinic. This means, a hospital with 100 beds will generate 100-200 kg of hospital waste every day. According to the estimates of the Indian Society of Waste Management, 5-10 percent of this waste comprises hazardous/toxic materials.
Proper disposal of biomedical waste is important also because of their infectious and hazardous nature. The Centre has promulgated the Biomedical Waste (Management and Handling) Rules, 1998 in this regard. These rules are applicable to all who generate, collect, receive, store, transport, treat, dispose of or handle biomedical wastes. These include hospitals, nursing homes, clinics, dispensaries, veterinary institutions, animal houses, pathological laboratories and blood banks.
Again, with the number of beds growing, waste management is an area where entrepreneurs can do a lot. With the new regulatory norms in place, proper management of the hospital waste is going to be a crucial exercise. Recycling this waste for a better purpose would be a challenging, yet plum, area for entrepreneur to venture into.
At present, a major player in this field is Hyderabad-based Ramky Infrastructure, besides some small companies working on a limited scale at different places. Given the lack of players, there is a lot of scope in this segment.
Proving technical and staff support to governmental or private agencies in this segment in one very important area for entrepreneurs. One can start one’s own company to manage medical waste. This again involves substantial investment.

©Entrepreneur November 2011

Tags:
biotechnology, HEALTHCARE, hospital