Looking for a Profitable Home Business Niche? Dropship Medicine!
If you’re tired of your daily grind and looking for a profitable ecommerce home business niche, here is an idea for you: dropship
If there is one thing you can count on, it’s that there will always be a big demand and a tremendous target market for medicine. This isn’t some flash in the pan or a here today and gone tomorrow sort of niche. Medicine is a proven winner….a sure thing…..a can’t miss niche that offers you a ton of potential for making money in a dropship business, working right from the privacy and security of your own home.
First of all, perhaps we should clarify the type of medicine you would be dropshipping. You cannot dropship medicine of any kind that requires a prescription from a doctor. Your dropship medicine products will be strictly OTC, or Over The Counter.
But, not to worry, this is an enormous niche with plenty of opportunities for sales!
Here are some very interesting facts and stats from Your Health At Hand:
“According to Euromonitor International, U.S. consumers spent $23 billion on OTC medicines in 2010. In doing so, consumers benefited from the ability to self-treat many commonly occurring conditions including the common cold, headaches, body pain, allergies, heartburn, lower gastrointestinal (GI) tract issues, dermatitis, and fungal infections.
OTC medicines allow the healthcare system to focus its limited resources on the diagnosis and treatment of more serious diseases that require physician involvement, while providing consumers the opportunity to care for themselves and their loved ones with safe, effective, and readily accessible treatment options for mild-to-moderate conditions.”
This info is from a study conducted in 2012 by the Consumer Healthcare Products Association.
Here are some more important findings from this study that will be of benefit if you decide to dropship medicine, as far as giving you an idea of what you can expect from the niche:
- The availability of OTC medicines provides $102 billion in value to the U.S. healthcare system annually.
- 50% ($52.7 billion) of total OTC value is captured by employer-based insurance, ~25% ($27.5 billion) by government programs (Medicare and Medicaid), and the remaining ~25% ($21.7 billion) by the self-insured and uninsured populations.
- Each dollar spent on OTC medicines saves $6-7 for the U.S. healthcare system.
- 240 million people in the U.S. currently use OTC medicines—60 million of them would not seek alternative (e.g., Rx) treatment if OTC medicines were not available.
- If OTC medicines did not exist, an additional 56,000 medical practitioners would need to work full-time to accommodate the increase in office visits by consumers seeking prescriptions for self-treatable conditions.
Source: Your Health at Hand
- If OTC medicines were not available, additional Emergency Department visits, primarily by patients on Medicaid and uninsured individuals, will drive up nearly $4 billion in healthcare system costs each year.
It’s easy to see that this is indeed a very viable niche that would never suffer from lack of consumer demand. Unfortunately, people do get sick and as the above stats clearly illustrate, many of these people prefer to self medicate with OTC medicines much of the time rather than see a doctor.
This is not a bad thing. In many cases, OTC medicines are adequate to treat the health condition in question.
If you want to walk away from your 9-5 job and be your own boss in a home business, you need a profitable niche. You can dropship medicine and have a niche that is a proven money maker year round!