Digital healthcare, a globally booming market, has been catalyzed by the events of COVID-19. In Asia Pacific, in particular, a rapidly expanding population, an empowered and tech-savvy middle class and physician shortage has created the perfect conditions for digital health innovation.
A new era of digital healthcare innovation looms on the horizon where there is now greater imperative to develop future-proof digital health solutions and systems in a “next-generation” ecosystem that channels hybridity and multi-functionality.
Baker McKenzie’s newest report, Hyper-Hybridity: Defining a New Era of Digital Health Innovation in Asia Pacific, explores challenges, priorities and potential collaboration pathways in digital health from the perspective of over 700 professionals in the ecosystem from three main groups — healthcare and life sciences organizations, technology companies and investors. The report explores:
- Digital health technologies in development and priorities for next-generation solutions
- Opportunities for financial and strategic investors in digital health in the region
- How ecosystems players can effectively join forces to overcome barriers to innovation
- Legal considerations associated with accelerating innovation through collaborations and partnerships
- 83% of digital health players say there is rising market pressure to build new digital health solutions and systems.
- 72% of digital health players believe a radical rethink of how innovation is organized, funded and scaled is required to meet demand for new solutions.
- 74% of digital health players suggest greater collaboration across the healthcare ecosystem would significantly accelerate progress.
- 78% of healthcare and life sciences companies report concern that technology organizations push a commercial agenda over healthcare excellence.
- 71% of technology players indicate that healthcare companies often lack the tech know-how to operationalize new solutions.
- Investors surveyed intend to direct USD 22 billion of global funding into digital health innovation in Asia Pacific.