Digital Health – US faces affordability and regulation challenges, China investing in AI innovations
At NineSigma we have a wide range of resources to give our clients in-depth understanding of the latest disruptive innovation trends.
One of these resources is our Open Innovation Council (OI Council), NineSigma’s network of technology professionals who are driving innovation around the world. We used the real world experiences of the medical experts in OIC to understand:
How has the Covid-19 pandemic affected the future digitization of healthcare?
It is very clear that the pandemic accelerated the development and adoption of digital healthcare solutions
- Nearly two-thirds of medical practitioners around the world have seen huge advances in patient-centered smart health care coordination and communication, including booking appointments and teleconsulting.
- One in five of the practitioners have seen big progress in digital monitoring, intervention and optimal treatment provision.
- Physicians and patients showed strong satisfaction with digital technologies for monitoring chronic conditions (for example IBD) and for preventive and proactive care (for example kidney disease, urinary infections, diabetes, wound healing).
NineSigma’s analysis of investments in start ups confirmed this trend. During the pandemic start-ups for smart coordination and communication received the largest funding in late-stage investments globally.
Beyond pandemic, OI Council members believe the biggest impacts on health care outcomes will come from enhanced adoption of systems for:
- Monitoring, intervention and optimal treatment
- Preventive and proactive care.
This is consistent with earlier stage investments (seed, series A, B, C) in healthcare start-ups. For those 2 areas, US start-ups lead the innovations receiving large growth stage investments, but OIC members in US believe adoption of these technologies could be limited by affordability and regulation.
In contrast, Chinese start-ups received early-stage investments in AI technology and OIC members in Asia see technology advancement as the most crucial factor that will affect adoption of digital healthcare.
If you want a more detailed report on how the Covid-19 pandemic has affected the future digitization of healthcare and start up investments please contact us and we will send you a copy.