Over 80% of business leaders working in the medtech, pharma and digital health sectors plan to invest in the digitisation of health according to a new Ibec survey.
AI was identified as the greatest area of focus by nearly two-thirds (65%) of respondents in the study, conducted with Amárach Research.
And it was forecast that the digital health sector is estimated to grow to €426bn by 2027.
The findings were presented as part of a forum by Ibec Digital Health, held in its Head Office, 30 July.
The event was held as part of the ongoing Ibec cross-sectoral campaign ‘Where Digital Health Thrives’ led by Irish Medtech, BioPharmaChem Ireland, and Technology Ireland.
Kieran Daly, Ibec Digital Health Working Group Chair, and General Manager HealthBeacon said: “Most respondents (83%) identified the digitalisation of healthcare as a very important in our research, this spans areas such as adding connectivity to devices, digital therapeutics and beyond.
"That’s why it’s unsurprising that cybersecurity was in the top three focus areas identified by 61% of leaders.
"As part of the ‘Where Digital Health Thrives’ campaign, we identified nearly 200 companies already working in digital health.
"Ireland is well-positioned as a testbed for developing and scaling digital health solutions, thanks to grassroots support here with business leaders meeting at events like today to share best practice and explore opportunities.
"As many 82% of respondents indicated that they planned to invest in the digitalisation of healthcare, but to reap the benefits of this, we need to bring stakeholders together to not only get ahead of technological and business trends, but also to ensure that polices are fit-for-purpose.”
Ciara Finlay, Ibec, Senior Executive, “Our vision is to enable Ireland to become a recognised global hub for digital health, where companies can develop and commercialise products, as well as attract projects and investments.
"Digital health is estimated to grow to €426 bn by 2027, and as many as 87% of leaders said that government strategy was very important or important.
"That is why the National Life Science Strategy for Ireland, announced by the Government, has huge potential to help Ireland take a significant share of this growing market.
"However, if we do not have sufficient cross-industry input, alongside key opinion leaders, then we will lose out to competitors like France and the UK, which have already made digital health a priority.”
Toma Pervan, Irish Medtech, Executive said: “As the voice of business, Ibec plays a unique role bringing different industries together, which is pivotal with more than half (52%) of those surveyed identified the digital health business model as a priority.
"Additionally, more than half (57%) noted that strategy development was a key leadership skills as we build for the future, and the majority (82%) identified strategy deployment as a key skill.
"Our partnership with the Connected Health Skillnet, led by Jennifer McCormack, is essential to future-proof businesses here as it can help upskill and reskill people not only in these areas, but also more technical areas such as data science and UX design.”
Top pic: Ciara Finlay, Senior Executive, Irish Medtech; Toma Pervan, Executive, Irish Medtech; Jennifer McCormack, Senior Executive & Network Manager, Connected Health Skillnet
