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Top 20 pharmaceutical and healthcare-related business ideas.

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The Indian pharmaceutical and healthcare industry is one of the fastest and highest growing sectors. In the future, it will be growing more and more. So there is a lot of business and startup opportunities in this sector.

  • What are the best pharmaceutical business or startup ideas?
  • How to start a pharmacy or pharmacy-related business?
  • Can I start a healthcare-related business?
  • What are the best business ideas for pharmacists?
  • Best pharma related manufacturing business ideas?
If you have any of the above questions in your mind, then I can help you by sharing some great business ideas with you to make your dreams come true and you will learn all the aspects that will help you get started.

Learn: Top 15 business ideas for pharmacists and pharmacy graduates.

What are profitable pharmaceutical or pharmacy-related or health-related business ideas?


Best Pharmaceutical business ideas, Pharmaceutical Start-up ideas,

1. Retail pharmacy:

Retail pharmacy is a profitable and scalable business. 

If you are a pharmacist, then it's quite easy to start because of your own registration and medicine related knowledge.

But if you, not a pharmacist then you can start but you need a pharmacist registration to make the drug license to open the store. You can hire a skilled pharmacist to make this business more profitable and scalable.

Requirement:
  • A store (at least 250 sq. feet)
  • A drug license.
  • A desktop or laptop (to maintain inventory)
  • A printer (for billing)
  • A refrigerator.
  • Some racks and some basic furniture.
  • Investment of 3-5 lakh.
Learn: How to start a pharmacy store in India?

2. Franchise retail pharmacy store:

A franchise retail store is another great opportunity for you. Retail pharmacy chains like Appolo Pharmacy, Netmed store, FrankRoss, Sanjivini, etc. are waiting for enthusiastic business partners to open a pharmacy in your location.

The basic concept is you have to apply to open a franchise store to a particular company. If they are interested to partner with you, then you have to invest a good amount of money to set up the store, product inventory, and some refundable deposit. They will help you to manage your store, inventory, sales, marketing promotions, etc.

Requirement:
  • Pharmaceutical Drug License. (Grab it from the district drug controller)
  • A store (at least 250 sq. feet or according to franchiser)
  • A refrigerator.
  • A desktop or laptop (to maintain inventory)
  • A printer (for billing)
  • Investment of 5 to 10 lakh.

Caution:
Before investment, do not forget to learn more about the company's background and investment policies.

Learn: Start a pharmacy franchise business in India: Cost, Apply, Contacts


3. Online pharmacy franchise:

You already know that internet users are increasing day by day. That's why the e-commerce pharmacy business is also growing so fast. So there is a big opportunity for you. There are some reputed e-commerce pharmacy companies (like- 1mg pharmacy franchise, Medlife, SastaSundar, etc.) waiting for you to expand their business with you. You just have to join their franchise program with a minimum cost of investment.

This type of pharmacy franchise is quite different from other franchise because you don't need any pharmacist registration, don't have to make a stock of medicines.

The basic concept of this business is you have to make the order of medicines according to the need of your customers with a special account provided by the company. And you can earn a commission on it. The more you make the order equals more money. Customer acquisition should be your focus.

Requirement:
  • A room (120 sq. feet)
  • A desktop or laptop (to make order)
  • Investment of 20-30 thousand rupees.

Some links to apply:

4. Retail store of surgical product:

The market for surgical products is parallelly increasing with medicines. There are thousands of surgical items, devices, and instruments. So you just have to buy those products from any distributor and sell them in your store.

So, if you want to sell surgical products like Surgical masks, Surgical gloves, Glucometer, Blood Pressure monitoring machines, knee caps, etc. then you don't need any drug licenses.

But you want to sell any products like a syringe, catheter, etc. which are directly connected with drugs, then you need the drug license to sell those products.

This is a very profitable pharmacy-related business idea.

Requirement:
  • Pharmaceutical Drug License. (Grab it from the district drug controller)
  • A store (at least 250 sq. feet or according to franchiser)
  • Investment of 5 to 15 lakh rupees

5. Start your own online pharmacy:

Online pharmacy or e-pharmacy businesses are growing day by day. So there is a big business opportunity for you.

You need an e-pharmacy website or mobile application and a reputed payment gateway to start this business. You have to maintain some govt. rules to start. Pharmacist registration and drug license is obviously the most important thing to start.

You can start with very few people to serve for a specific location.

Requirement:
  • Drug license.
  • GST registration.
  • A website or mobile application.
  • An office and storage area for medicine.
  • Payment gateway to collect payment from your customers.
  • A Pharmacist team for medicine & prescription handle and billing.
  • A logistics team for supply products to your customer's door.
  • An accounting team (Hire or more accountant)
  • Software and web handling team for technical works.
  • You also have to collect medicines according to orders from the wholesaler.
  • Social media & Search Engine Marketing team is necessary to rank your site at the top of the search result.
  • A customer care team is also important.
Learn: How to get a pharmacist license or drug license in India?

6. Wholesale of medicine:

Wholesale of medicine is a great business idea that you can start. But here you need some more investment than the retail pharmacy business. Start with the products of very few companies and expand it according to the need of the market. You need some more employees to properly reach the retailer.

To take the distributorship of any company to just have to call their marketing and sales team. You can easily find those numbers from their website. Make a list of 30-50companies and contact them.

If they disagreed with your location then take for another location near you.

Requirement:
  • A wholesale drug license. (Collect it from the district drug controller)
  • A warehouse or godown (approx. 5000-10000 sq. feet)
  • Racks for store medicines
  • Investment (10-15 lakh rupees)

7. Wholesale of surgical products:

Surgical products have heavy demand in the market. So you can start wholesale of surgical goods like cotton, surgical gauze, knee cap, syringe, etc.

There are thousands of useful products that you can easily trade. So find some manufacturer or big distributor and buy those products according to the demand and sell it to the local retails.

Requirement:
  • A wholesale drug license. (Collect it from the district drug controller)
  • A warehouse or godown (approx. 5000-10000 sq. feet)
  • Investment (5-10 lakh rupees)


8. Manufacturing of medicines:

The manufacturing of medicines or pharmaceutical products is quite difficult than in other industries. Because of the huge investment and management. Not an only investment, but you also have to maintain various regulations and guidelines to start a pharmaceutical manufacturing unit. That's why you need a lot of approval from various regulatory bodies.

National regulations and guidelines bodies like Central Drugs Standard Control Organization (CDSCO), National Pharmaceutical Pricing Authority (NPPA), The Drugs & Cosmetics Act, 1940, The Pharmacy Act, 1948

International guidelines and regulatory bodies like the World Health Organization(WHO), the United States Food and Drug Administration (USFDA), more.

You should have a proper plan and knowledge before you start. You can hire an advisor or expert, who has the knowledge to set up a pharmaceutical manufacturing hub.

Requirement:
  • Company registration.
  • GST registration.
  • Pharmaceutical Production or Manufacturing Drug License. (Collect it from the district drug controller office)
  • Machines and technologies.
  • Standard regulatory certificates
  • Proper space for storage of raw materials, production, and products.
  • Investment for equipment, testing labs, the salary of the employee.
  • Skilled production management team.
  • Marketing and Sales Team
  • And more.

9. Marketing company of medicines

If you have the interest and proper experience in the marketing of pharmaceutical products, then the marketing and distribution of medicines or any pharmaceutical products is the best business for you.

Basically, you have to buy medicines from any 3rd party or contract pharmaceutical manufacturer with your company's brand name. Then you have to sell and distribute those medicines to hospitals and pharmacies.

For this whole process, you need a marketing team, accounting team.

This is quite an easy process than manufacturing medicines, but don't forget that marketing is not an easy job.

Requirement:
  • Company registration.
  • Drug License.
  • GST registration.
  • Marketing and Sales Team
  • Office space.
  • Accounting team.
  • Investment of 5 to 10 lakh rupees.

10. Manufacturing of cottonwool:

We all know that cottonwool is a very useful product in the healthcare industry. There are thousands of products that are directly or indirectly connected with it.

Direct products- Such as surgical absorbent cotton, cotton rolls, cotton balls, etc.

Indirect products- Such as sanitary napkins, baby diapers, adult diapers, sterile gauze, earbuds, swabs, and more.

So there is a big opportunity for you to start the cotton manufacturing business. This business is quite easy than pharmaceutical manufacturing because you don't need huge investment and no hassle of regulatory approvals.

Requirement:
  • Company registration.
  • GST registration.
  • Manufacturing Drug License. (Grab it from the district drug controller)
  • Experience in the industry or technical consultant who can give you handhold support for getting the result as fast as possible.
  • All machines for the production of cotton wool.
  • Investment. (you can get Govt. loans for the setup.)

Pharmacy business ideas, Pharmacy related business ideas

11. Manufacturing of sanitary napkin:

The sanitary napkin is a very important product for women. Only 65% of women are using sanitary napkins in India and Central as well as state Govt. creating the awareness of menstrual hygienization. So this number of users will be increasing very fast. It's a great business opportunity for you. You can manufacture quality sanitary napkins at an affordable price.

You can get an MSME loan from Govt.

Requirement:
  • Trade license or Company registration.
  • GST registration.
  • Machines and technologies.
  • Storehouse
  • Production team
  • Marketing team
  • Investment of 1-2.5 lakh (in minimum setup)


12. Manufacturing of cosmetic and beauty products

There is a huge demand for cosmetics and beauty products in India and other countries. Due to the fashionable and luxurious culture, women and men both are super conscious about their style.

There is a big business pharma business opportunity if you can see.

You can start manufacturing cosmetic and beauty products. This is easier than pharmaceutical manufacturing because there are fewer regulations and guidelines to follow and investment is lower than it.

You can manufacture and market your product as an individual company or you can be a contract manufacturer for any reputed cosmetic brand.

Requirement:
  • Company registration.
  • GST registration.
  • Manufacturing Drug License. (Collect it from the district drug controller office)
  • Machines and technologies.
  • Very few Standard regulatory certificates
  • Proper space for storage of raw materials, production, and products.
  • Investment 20-50lakh.
  • Marketing and Sales Team (If you want to start an individual company)

13. Manufacturing of medical devices:

Medical Devices means those instruments or devices which are used for the diagnosis, treatment, cure, monitoring, or prevention of any abnormal physical or mental conditions. Example- Blood pressure monitoring device, glucometer, oximeter, etc.

The market for medical devices is growing day by day. So there is a big entrepreneurial opportunity for you. You can start this one business.

Before jump into this business, you should make sure you have clear knowledge and vision on it. Don't forget that it's a high investment business.

Requirement:
  • Company registration.
  • Manufacturing license.
  • GST registration.
  • Regulatory Permissions like WHO, GMP.
  • Engineers, staff
  • Machinery and technologies.
  • Office Accessories
  • HVAC unit
  • Proper space for storage, production, etc.

14. Importing and marketing of medical devices:

If you don't have that much money and resources to invest in the manufacturing of medical devices. Then you can import those materials from various manufacturers to market those products with your company brand name. This is a great opportunity for you to start importing and selling medical devices or equipment. Because there is a great demand for medical devices but the local manufacturers are unable to fulfill customer's needs.

You can buy from local third-party manufactures or import those products from various countries like China, Taiwan, etc to India. Then you can re-package and re-brand those products and sell them by your distribution network.

You can also sell those items on Amazon Seller and Flipkart Seller. (Products like- Digital glucometer, Oximeter, BP monitoring machine, etc.)

Requirement:
  • Company registration.
  • A team for market research, sales, and branding.
  • A good amount of investment.
  • Customer-care service(you need for long term business)

15. Manufacturing of saline water:

Saline water is a very useful material in the pharmaceutical and healthcare industry. If you want to start production then you can do it. But before going to the business you should do research on it.

The demand for saline water is growing 5% each and every year. The whole demand is fulfilled by domestic manufacturers. There is a big scope for you. You can also be successful in this field but before starting you should have knowledge about it.

Requirement:
  • Pharmaceutical Production or Manufacturing License. (Grab it from the district drug controller)
  • A machine for the production of saline water.
  • You may need a technical consultant who can give you handhold support. (Take it as an investment, not as an expense)
  • You need to work in this sector because your experience is like fertilizer.
Learn detailed information from Govt. of India website: Fssai


16. Manufacturing of dietary supplements:

The demand for dietary supplements is very high. So you can start manufacturing dietary supplements. Every food industry should follow the guidelines of GMP/GHP. 

This is one of the best healthcare- related business idea.

You need the licensing & Registration of Food Businesses Food Safety & Standards Regulation, 2011 

There is a big scope of manufacturing supplements.
You can manufacture- 
a) Health supplements drinks
b) Nutraceuticals
c) Food for children. 
d) Food for Special Medical Purpose, etc.

But the investment is much lower than other pharma- related manufacturing businesses. 

17. Bio-medical waste disposal business

Medical waste means those waste materials come from hospitals, nursing homes, pathological laboratories, and other medical areas. This business model is quite different from other businesses. If you want to make your environment clean, then there is no other business like it.

The bio-medical waste like Human and animal anatomical waste (like tissues, organs, and body parts from hospitals and veterinary hospitals)
  • Waste of surgical apparatus (like needles, syringes, broken glass, etc.) 
  • Laboratory waste (Pathology, Microbiology, biotechnology)
  • Pharmacy Waste (expired medicines and cytotoxic drugs)
  • Waste of surgical products (cotton, bandages, plasters, material contaminated with blood, tubes, and catheters)
  • Chemical waste

You have to maintain the Biomedical Waste Management & Rules (1998). You have to take approval from the Ministry of Environment & Forest, Govt. of India.

The machinery you need-
Biomedical waste treatment autoclaves
Plastic waste recycle unit

Before you start this business you should have a clear knowledge of this business. You can take consultancy from NEPS. This is a consultancy company for bio-medical waste disposal management.

18. Pharmaceutical consultancy services business

Pharmaceutical consultancy service is another great business model. If you have experience or expertise in any particular pharmaceutical field (like manufacturing, marketing, and other business consultation) then you can start this business. You can also hire some experts from various pharmaceutical fields to provide your client, more accurate information, and data.

You can create a website and share your expertise and give there your contact information for clients, who want to hire you or your team. 

There are thousands of young stars who want to be an entrepreneur, but due to less information at any pharmaceutical field, they can't start. By opening a pharmaceutical consultancy agency, you can help them.

But before going to this sector, make sure you have the proper skills and technologies to provide some real value and handhold support.

Online pharmacy related business ideas, healthcare relaed media business

19. Start health-related talk show:

There are a lot of health-conscious people who want to know to stay healthy and fit. But they don't have that much knowledge or information to do it. So there is an opportunity for you to start a health-related talk show.

Through which you have to provide that useful health-related information(like Yoga, Diet plans, etc.) in an esiest way to those health-conscious people to make them healthy and fit in a properly arranged.

So you have good communication skills and in-depth knowledge of health-related information. Then it's the most preferable business opportunity for you. There is a big demand for health-related videos and audios.

You can make a small team for the production and distribution of content (videos and audios).

You can start videos and audios production with a simple set-up. Then you can distribute those contents on YouTube, Facebook, IGTV, and other social platforms to reach more audiences.

You can monetize those contents by Google Adsense, Facebook Audience Network, etc. and you can also monetize your contents by direct sponsorships and advertisements.

As much audience your contents reach, you will get more money from it. Be patient and work with your passion.

Requirement:
  • Camera. (or use your smartphone camera)
  • Microphone (or use your headphone)
  • Video Editing Software (free versions are available on the internet)
  • Enable Facebook and YouTube monetization.

20. Start online pharmaceutical coaching:

Day after day the culture of online education is growing super fast. But most of the edu-tech companies are interested in school and engineering education. There are very few companies that are working for pharmaceutical education. So there is a big opportunity for you to start online pharmaceutical coaching.

You can start this business by yourself or by making a team. Before starting or getting into this business make sure you have clear and neat knowledge of teaching any learner.

Start making teaching videos on YouTube and other video sharing platforms to get noticed by students. Then you can start person to person coaching.

This business model is quite easy to do but you should have the patience to earn more money.

Requirement:
  • A camera for making teaching videos (or use your smartphone camera)
  • Internet Connection
  • Video calling platforms (Skype, google duo, or WhatsApp, etc.) for interaction with students.
  • Share PDF notes to share with your students.
  • Get your fees by Net Banking, Paytm, Google Pay, or any UPI. to get paid.

Some words for you:

I hope this article is helpful for you to start something new. Best of luck. Go ahead, don't stop until you achieve your goal. Thank you very much.

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