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The global Digital Health market has grown exponentially over recent years and estimated to be valued at 100 billion (USD) this year, with ongoing double-digit growth annually.
Ireland is extremely well placed to capitalise on this continued growth path, due its rich health eco system market and strong foothold across fields such as Medical Technologies, ICT, and Pharmaceuticals/Biopharmaceuticals. 7 of the worlds top technology companies have operations here in Ireland and we are one of the most connected and well-educated countries in the world. So, it’s no surprise that there is an ever-expanding cluster of new innovative digital health SMEs such as VIGO Health in the market.
Finding innovative and sustainable ways to improve healthcare in Ireland has at times looked like an insurmountable challenge. But the implication for getting it right are so important for driving positive health outcomes and also for our economy, given global market value.
What’s Changing
In Association with
A hugely positive change in recent years is that grounding breaking innovation in healthcare is no longer seen as just the remit of the Public Sector. Our new reality is a collective responsibility and effort across public and private sectors. There’s a real shift towards working more collaboratively to redefine traditional health care business models to find new pathways to sustainability and efficiency. This ultimately leads to better health pathways and health outcomes for everyone.
Innovative digital health companies are providing apps, platforms, tools and services, all resulting in an entire industry being led to rethink the way in which it interacts with customers.
Patients are now more discerning and proactive around their own health needs and using services that they would have not considered pre-pandemic. Virtual healthcare has been normalised in no small part to the pandemic. From the start of 2020 to the end – Ireland witnessed a 5-fold increase in the use of telemedicine. So, while there is no doubt that COVID-19 accelerated this adoption of digital health services by several years, digital health is here to stay.
Digital health isn’t just about virtual consultations – it’s so much broader. It’s also about improving the customer experience at every touchpoint. From getting a rapid referral, a faster diagnosis, your prescription delivered to your door, all while minimising the pressure on other vital primary care and emergency facilities.
The Role of Technology
Sometimes incremental improvements can have a dramatic effective on the user experience. Our customers can WhatsApp a doctor, ask a doctor a question online and get a response instantly. It’s nothing dramatic from a technological perspective, but we are the first in the market to use existing technologies in a health context. We have simply aligned a service with how younger people use other apps and services. Digital health is essentially the intersection between healthcare and technology. Our goal is to translate the benefits that technology brings to other industries and apply them in a health context.
Then there is MedTech innovation. 24-hour blood pressure monitors which gives the GP a better picture of your health issue, medical devices for checking out moles for early skin cancer detection, at home testing for added privacy, online access to mental health platforms. All fantastic developments to enhance our everyday health and wellbeing.
Challenges & opportunities ahead
There are still many challenges to resolve. Cyber security, universal medical records, secure sharing of medical files are some of the bigger challenges facing the healthcare industry. However, there is a level of excitement about how these new digital health start ups can collaborate to meet these challenges.
As CEO of VIGO Health, a new player in the market offering a new type of Health cover and digital connectivity to younger people, I am hugely optimistic for the future of digital health in Ireland.
Share your view to help Woman’s Aid.
Health & Wellbeing Research for Irish SME Sector
If you are a leader within an SME (200 employees or less), please give us your view. For each response (2 min), VIGO Health will donate €5 to our charity partner, Women’s Aid.
To take part in the survey click here https://www.surveymonkey.com/r/NMF5529
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