Since the first quarter of 2022, investment in health-related projects has seen a significant increase as a result of the pandemic wave of innovation in its favor with the COVID-19. As a consequence, the healthcare sector has been able to be part of a large wave of innovative activities that seek a positive impact for this field. Do you want to know more about why healthcare entrepreneurship has become so attractive recently? Then this article is for you!
What are the factors that encourage people to start a healthcare venture?
Healthcare has become one of the main keys to innovation and one to which entrepreneurs are paying increasing attention. However, although healthcare entrepreneurship is booming, it is still more complex due to the fact that it is a more regulated sector with barriers to entry.
Despite this, the entrepreneurs are not discouraged and continue with their plans to improve this sector and make a positive contribution to society. Some of the factors that motivate them to stay on this path are:
- The change in people’s lifestyles in recent years, which has increased their interest in finding solutions to help them improve their health.
- The arrival of the COVID-19 pandemic has increased health concerns. For this reason, public and private entities trust and reward projects related to the sector.
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What is the influence of Corporate Social Responsibility in public and private corporations?
Within the activities of Corporate Social Responsibility (CSR) we can mention many institutions that dedicate part of their resources to research in the field of health.
Some of the different public and private programs and institutions promote CSR, with the aim of boosting some enterprises. Here are some of them:
It should be noted that all these awards grant money to the winners and facilitate their development, since they come into contact with potential clients, investors, among others.
Because of what increased health concerns?
As we mentioned, the COVID-19 pandemic increased concern for health and everything related to this area. People are demanding more and more services and there is increased business interest in developing solutions to meet this demand.
On the one hand, there are several researches that try to offer products, solutions and programs to achieve the goal of making people live longer. In other words, the search is on for ways to implement projects of this nature.
And, on the other hand, people want to live longer with quality of life, which drives another interesting niche market with great demand. Entrepreneurship in health to develop solutions that ensure this is a way to achieve success.
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New boom in remote care solutions.
Under the influence of COVID-19 and the search for immediate attention, telemedicine and telecare have become one of the best options if you want to have a health entrepreneurship.
This is because primary care and first diagnoses can already be made thanks to these technologies. So any solution to leverage them has the capacity and potential to generate a profitable business.
How does investment by public and private companies look like?
The health sector, being in trend, has a high capacity to attract potential investors. This is a phenomenon that can be seen in the attitude of the public administrations themselves, which annually invest millions of euros in their general health budgets.
An example of this would be the investment made by the Central Administration in 2019, which was more than 81 billion euros. In other words, it is 6.6% of the GDP and an investment of 1,736 € per inhabitant.
If we talk about Europe, these figures are even higher and surprising. In the case of Germany, the country spent 9.9% of GDP, some 341,326 million euros. France, for its part, invested 225,000 million euros; Italy 114,000 million and the United Kingdom 200,000 million pounds. These data allow us to consolidate the concept of internationalization and scalability in projects.
Now, as for the private sector, funding in global healthcare innovation had a 63% increase in the first six months of 2022, according to Startup Health’s global analysis. Reaching, thus, $16 billion, a substantial increase when compared to 2019.
6 innovative ventures in the health sector.
The world of health entrepreneurship has been a success and a breakthrough in improving the well-being of society. The fact that the population wants more quality and a healthier lifestyle has driven this movement.
That’s why we will name the 6 health ventures that have achieved success:
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If you want to know more about which health entrepreneurship is more innovative. I encourage you to contact us through our email tasconsultoria@tas-sl.es. We have an excellent team of consultants who can provide you with the information you need on this topic and more. Do not wait any longer and contact us.
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