When we think of health care usually we associate it with going to the doctor, taking medication or doing things that improve or update us on our current health status. However, not many of us realize there is a whole other side of the spectrum when looking at the health care industry in the way of making money through proper investments.
Investment options can range from financing an existing company or business or even investing in new products that will soon be available to the public for their health care needs. In 2015 the Healthcare industry raked in approximately $286,797,651,607 and the number projection for 2016 are set to be higher. According to the U.S. Bureau of Labor Statistics, the healthcare industry is reported to expand faster and add more employment opportunities between 2014 and 2024 than any other sector.
The healthcare sector is a collective of various different industries – from pharmaceuticals and devices to health insurers and hospitals. Each offers diverse dynamics. When deciding on how to invest in the healthcare sector keep the following popular trends in mind: the aging population and baby boomers, people living longer with chronic disease, obesity and diabetes epidemics, technological advances as well as the global reach of disease personalized medicine.
One part of the healthcare sector that I find to be intriguing when looking to become financially involved is the pharmaceutical side of the business that handles prescription sales. For example, take a company such as Progressive Care Inc (OTCMKTS:RXMD) who deals with prescription pharmaceuticals, specializing in health practice risk management, compounded medications, the sale of anti-retroviral medications and related medication therapy management, and the supply of prescription medications to long-term care facilities.
Progressive Care Inc (OTCMKTS:RXMD) is involved with multiple outlets and platforms within the health care industry, making them the type of healthcare powerhouse a potential investor would want to keep their eyes on. In 2015 the total amount of prescription dispensed by pharmacies was 4,056,175,064 in the US alone. With the US population hovering around 325 million that means each person would have had 12 prescriptions issued in 2015 alone.
With that being said there is no shortage of an aging population nor is there a shortage of new drugs hitting the market. Now that you have gone over a good amount of the basics now it is time to do your own due diligence on what companies and products are trending and becoming the type of company you see fit to invest your money in.