Posted on: 5/02/2014
Twenty-two leading organisations have joined a formal partnership to tackle the nation’s healthcare challenges by accelerating growth in the digital healthcare market.
Founded and led by D Health, the partnership known as ‘the Catalyst’ involves major brands Celisio (owners of Lloyds Pharmacy) and Johnson and Johnson’s LifeScan.
Other founding members include SMEs such as Isansys, Grey Matters and Cardio QT and healthcare providers Red House Practice Group, Just Checking and Physiomedics.
Amongst others, third sector representatives Highland Hospice and Albyn Housing Society have also signed up alongside supporting organisations corporate financiers Opus, sales business Trocar and a leading consumer psychologist.
Advanced talks with potential members from other UK organisations are currently underway, whilst plans to expand the group into Europe during 2014 have progressed with the addition of Spanish cooperative, TIC Biomed to the group.
The Catalyst is set to meet for the first time in London on 5 February 2014 to discuss how it can provide new, low cost products and services for both consumer and provider markets. These could include innovations such as fitness boosting smart phone apps, blood monitoring devices, TV and phone based services for the elderly and self-management software for diabetics.
Market projections for digital healthcare vary widely, but all point to rapid growth over coming years as demand for services increases. According to a recent report conducted by Frost and Sullivan, the worldwide market for healthcare devices will garner over $509.25 billion in the next 10 years, up 87.5 per cent from $271.55 billion in the current decade.
CEO Dr Steven Dodsworth, formerly a scientist with the UK arm of the Human Genome project, leads D Health. He said: “Everyone in the healthcare industry knows what challenges lie ahead – an ageing population, more lifestyle-related ill health and growing constraints on budgets. In a nutshell, there is an increasing demand for services but fewer resources to deliver them.
“Digital healthcare has the potential to deliver popular, personalised, efficient and affordable patient services, and yet, the market isn’t growing fast enough to alleviate pressure on the NHS and local authorities.
“By creating a partnership that embodies all sections of the healthcare industry we aim to create not only new products and services but a new market dynamic based on collaboration. That way the industry can develop urgently required services that support and supplement sustainable health and care services for the future.”
Ken Spooner from the Red House Group of Surgeries added: “The Catalyst offers the opportunity for developers of digital healthcare products to work with those who understand patients’ needs, helping them to come up with solutions that can deliver and be part of the NHS healthcare offering in the future.”
Chris Frost, market development director at Celesio, added: “It is vital we harness the benefits of innovative technology to improve patient care and to empower people to manage their health better. Taking key, forward thinking organisations representing all sectors of the Healthcare industry to pool knowledge, share best practice, build strategic partnerships and have a single voice will help accelerate the delivery of those benefits. The Catalyst is an exciting development for the Digital Health Industry and Celesio is proud to be a founding member.”