If there is one thing that is clear in the healthcare industry is that health-tech is evolving at a really fast pace at the moment. There are many digital entrepreneurs that invest talent, money and time into brand new products and so much more. We can say that the entire health-tech space is hot, starting with a clear indicator in the wearable fitness gadgets that appeared in the past year and the hundreds that are trying to get funding as you read these lines.
In the event that you want to launch a startup in the healthcare industry, you may want to consider the following opportunities since there is a lot of money to be made and you can also help a lot of people through your investments.
Biosensing And Wearables
Hardware costs are going down at a fast pace. It is so much easier these days to create a device that would aid a human to understand the body. Regular health care is oriented around episodes and acute care while new trends move towards the use of sensors to monitor human health.
The only problem with biosensing and wearables is connected to FDA regulations. In some cases we all know that the FDA takes a lot of time to approve a product. However, when referring to mobile medical apps, the average waiting time is under 70 days so things are improving.
Go around potential FDA problems by hiring consultants and experts during the development phases. That will aid you to develop a product that is not only useful but also approved by the FDA in a short period of time.
The Omics Option
Genetic sequencing technology evolved at a truly exponential rate, one higher than Moore’s Law. Around 10 years ago the tests that were done to decode a genome cost close to a quarter of a million dollars. Illumina launched the HiSeq X Ten that can do the same thing for just $1,000.
With this example in mind, we can see that proteomics, genomics, microbiomics and metabolomics stand out as highly attractive for those that want to develop health care startups. People always want to know more about themselves so data and information sequencing can be quite a hit.
Startups can now create services and products that are way above sequencers. You have access to dashboards and platforms that currently allow pharmaceuticals, clinicians and researchers to understand sequence information. This is also available for consumers. Investing in data gathering can be really profitable and incredibly useful.
If you want to invest in the health care industry, it is a guarantee that you will want to consider high tech health care. This is where real opportunities appear and the two examples above should not be seen as the ones that absolutely need to be covered. Innovation is important for any company and if you can come up with something new, the possibility of success is much higher.