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Why Healthcare Startups Are So Hot Right Now

In the age of the Internet and social media, entrepreneurship may seem more appealing than ever to many people looking to get their footing in the world of small business. However, starting a business, like any worthwhile venture, is not without its share of risk. Any aspiring small business owner has surely heard that about 90 per cent of startups end in failure. While this may make it seem like failure is nearly inevitable when it comes to the world of startups, that’s not true. Healthcare startups have the most potential to bring innovative solutions to a wide variety of individuals and make a real impact on people’s lives, securing a reliable market and ensuring their longevity as businesses.

The average failure rate for companies after five years is 50 per cent. After ten years, the rate increases to 70 per cent, with failure rates varying by industry. Information, construction, manufacturing, mining, and services startups all have higher failure rates than businesses started in the agriculture, health, education, finance, insurance, and real estate industries. Information startups have the highest failure rates at 63 per cent, followed by construction startups at 53 per cent, manufacturing startups at 51 per cent, mining at 49 per cent and services at 45 per cent. Healthcare, education and agriculture are tied, with new businesses failing at a rate of 44 per cent, and are only bested by finance and real estate, which are also tied with startup failure rates of 42 per cent.

Presently, venture capitalists are betting billions of dollars on healthcare tech startups because they are well aware of the expansive potential that comes with this kind of business. The healthcare industry is made up of an extensive and varied network of stakeholders including institutions, patients, providers, customers and administrators. As advancements in modern medicine race to catch up with the needs of patients, there will always be an opening in healthcare for innovative solutions and technology.

Healthcare related startups like Vaper Empire ensure long term success by offering a solution to the local need for high-quality vaping options. Vaper Empire’s premium vaping products give individuals who want to switch to the tobacco-free alternative of vaping an easy and sophisticated way to do that. By providing customers with quality products like the V-Pack II series at reasonable prices and with fast and reliable shipping, Vaper Empire is making a positive impact on individuals’ lives. This is what sets healthcare startups apart from all the others.

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