The global digital health market was valued at $ 144.2 billion in 2018 and is expected to reach a value of $393.3 billion by 2024, registering a CAGR of around 18 per cent during 2019-2024, according to the IMARC Group. The digital health market is slowly maturing from a sector dominated by early-stage start-ups to more established companies with validated products. 2019 was marked with the IPOs of several digital companies, some were acquired by Big Tech, and others partnered with Pharma firms from automating clinical trials to drug discovery. Analysis from Rock Health indicates that investments in digital healthcare in 2019 are keeping pace with investments that were made in 2018. While the total number of deals seems likely to stay consistent with 2018, the average size of the deals has increased.
Privacy is paramount
In the recent times, there has been increasing number of hacking-related to healthcare whether it’s WannaCry in 2017 which affected hospitals throughout the world or SingHealth’s (Singapore’s largest group of healthcare institutions) database containing patient personal particulars and outpatient dispensed medicines had been the target of a major cyber-attack in July 2018. These instances have put light on the privacy challenges these smart technologies bring. The privacy concern also cast a dark show over the growth of digital health industry.
Moving forward, digital healthcare companies will have to establish increasingly tight security, stringent privacy policies, and provide more transparency around data use.
Big Tech is big
Denne historien er fra March 2020-utgaven av BioSpectrum Asia.
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Denne historien er fra March 2020-utgaven av BioSpectrum Asia.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Korea develops micro-structured artificial lung model using bioprinting technology
A team of Korean researchers has made a breakthrough that will greatly enhance the efficiency of respiratory disease research, garnering attention.
Philips names Ling Liu as Chief Region Leader of Greater China
Royal Philips, a global leader in health technology, has announced the appointment of Ling Liu as the Chief Region Leader of Philips Greater China.
PW Skills launches School of Healthcare to solve India's critical shortage of medical professionals
PW Skills, the upskilling vertical of Physics Wallah (PW) has announced the launch of School of Healthcare across five cities in India, namely, Noida, Indore, Lucknow, Patna and Delhi.
Australian biotech incubator Proto Axiom announces $20 M Series B first close
Proto Axiom, the Australian biomedical technology incubator, has announced a $20 million first close of its targeted $30 million Series B, to bolster Australia's biotechnology sector through increased intellectual property (IP) retention.
Biogen, Beckman Coulter and Fujirebio to develop new tests for tau pathology
Biogen Inc., Beckman Coulter, Inc. (both based in the US) and Japan-based Fujirebio have announced a collaboration to potentially identify and develop blood-based biomarkers for tau pathology in the brain and to potentially clinically advance and potentially commercialise new tests for tau pathology in Alzheimer’s disease (AD).
Pfizer upgrades pharma production plant in Melbourne
Australia is stepping up to the global fight against antimicrobial resistance, as Pfizer Australia announces a major upgrade to its manufacturing facility in Melbourne, Victoria.
mRNA as novel active ingredient - Plasmid Factory providing the template for tomorrow's vaccines
PlasmidFactory GmbH was founded in 2000 in Bielefeld/Germany with 4 employees. In the meantime, under the founder and managing director Dr. Martin Schleef, the company has become a well-known contract manufacturer (CDMO) for plasmid and minicircle DNA. Today, PlasmidFactory has ~50 highly qualified employees, and has established a GMP manufacturing facility.
"Our priorities will include identifying and understanding the challenges while engaging regularly with industry leaders to address their concerns"
K Raja Bhanu has been elevated from Executive Director to Director General of the Pharmaceuticals Export Promotion Council of India (Pharmexcil), effective July 1, 2024. Bhanu brings a wealth of experience from his distinguished career in drug control and regulation. He has a proven track record in advancing drug quality, safety, and regulatory compliance. His leadership at the Drug Control Administration (DCA) was marked by significant initiatives that enhanced drug regulation standards and reinforced India's pharmaceutical reputation globally. In his current role, Bhanu is set to drive the expansion of India's pharmaceutical exports, boost global competitiveness, and adeptly navigate the complexities of international regulations, leveraging his extensive expertise to foster industry growth and global prominence. In an interaction with BioSpectrum, he shared his plans on addressing many challenges before the Indian pharma industry to stay compliant with international regulations. Edited excerpts:
"Australia has long been a global leader in research, yet our biotech sector has not lived up to its full potential"
Australia's first true biotech incubator, Proto Axiom, has secured $20 million in the first close of its $30 million Series B round to strengthen the nation's biotech sector through greater IP retention. Anthony Liveris, CEO of Proto Axio discusses the incubator's selection criteria, identifying the most promising biotech trends for global health, and outlining the key strengths that make Australian biotech globally competitive. Edited excerpts:
Unleashing Innovative Wound Care Solutions
The incidence of wounds is rising, especially in the Asia-Pacific (APAC) region. In Australia alone, 420,000 individuals are impacted by chronic wounds, leading to direct healthcare costs of AUD $3 billion, representing 2 per cent of the country's total healthcare expenditure. Similarly, data from Singapore between 2000 and 2017 revealed that the incidence of wounds among hospitalised adults was 300 per 100,000 for those over 18 and 800 per 100,000 for those over 50. Let's explore further.
