One wrong idea in the (big player) investor community right now is that healthcare is set for future boom. It's not -- if you're doing it for money. COVID-19 has triggered the socialisation of healthcare. Watch.
And there lies the opportunity for new impact entrepreneurs who are able to tap into the policy changes that will accompany socialized healthcare. There is money to be made, but the end of profits over people in healthcare is here.
A lot of investors misinterpret the $1bn in medical tourism as the market opportunity for Nigeria. It's not. Tertiary demand is largely driven by complications that can be addressed at the primary and secondary level and too specialized to be readily available here.
Oncology is responsible for 40% of Nigeria's $1bn foriegn tourism spend. However, Nigerians only spend this amount when it gets to terminal stage. The opportunity is in prevention and early care which is extremely cheaper. The latter is the real market to be built
I'd like to see investments in healthcare move towards; PHCs management, healthworkers capacity development, testing, health promotion (using Social Impact Bonds), micro financing & epidemic preparedness (using Tech). I'm not quite bullish on online medical consultation startups
One last thing: @Gatefieldco is looking to invest (small cash + big policy acumen) in healthcare. If you are trying to solve the aforementioned problems with impact and profit in mind, please get in my DM with a clear statement of intent & I'll direct you on how to pitch.
You can follow @eadewunmi.
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