Posted on: 3/07/2015
In two and a half years, we will enter 2018. Market reports suggest phenomenal growth in digital health but how will it have changed healthcare?
Product and service development life cycles typically span 1 - 2 years; longer in regulated markets. The life cycles of products and services now in the market will be well advanced (with some drawing to an end). A new generation of products and services with their inception in 2015 will be in market. The landscape will have changed significantly.
Two and a half years ago, consumer wearable devices were almost unheard of by the public and a minority interest within the industry; Fitbit announced a $52M loss in 2013. Two and a half years ago telehealth delivered by established providers was to be the next big thing.
Where are we now? The Telehealth hype has subsided and pilots are still common place across Europe. Where is the "at scale activity"? The EMR market has come alive in the US due to recent legislation but it is highly fragmented and although necessary, is this really digital health (isn't this health IT)? Fitbit recently achieved the largest IPO in the history of consumer electronics with wrist bands and smart watches now commonplace on the high street and health apps released as standard on new personal devices. It's a new landscape which the vast majority of organisations didn't anticipate.
The market is evolving rapidly. The dynamics between the consumer and statutory markets will be fascinating in this coming period. We know that digital health will grow - some aspects more rapidly than others.
So where will your organisation fit into the landscape? If healthcare is changing, how will you change?
With this in mind, join us over the summer and into the autumn as we explore the likely dynamics of the next 30+ months.
Leaders in digital health: We will highlight companies who have the potential to make a real difference to the evolution of digital health in the coming years. Click HERE to be added to our mailing list.
"Evolution and opportunity in digital health". Our next market report will be released at the end of July. Click HERE to be notified of the release date.
Digital Health 2018. Join us at our autumn Catalyst meeting for in-depth insight and discussion into the evolution of digital health over the next three years. Click HERE to be notified of the date and schedule.
So where will you be in 2018?