This appeared a few days ago.
ANDHealth releases the first detailed report on Australia’s digital health industry
Three years in the making, we are proud to bring you our brand new report – Digital Health: The Sleeping Giant of Australia’s Health Technology Industry.
Packed with data and information we’ve collected from the Australian digital health sector since our inception in 2017, this report is the first to comprehensively demonstrate the vibrancy and diversity of the industry. It showcases the potential of the sector to drive Australia’s economy and healthcare system into the future, if properly supported.
The pipeline of companies and technologies outlined in the report demonstrate Australia’s potential to become a global destination for digital health development, commercialisation, clinical trials and implementation, delivering against the triple aim for post-COVID recovery investment: economic growth, healthcare system resilience and high-value manufacturing capabilities.
We are proud to represent the Australian digital health sector, and proud to publish this report. Please click below to download it.
Here is the link:
There was press coverage here:
Digital health companies face funding shortfall
Carrie LaFrenz Senior reporter
Jul 2, 2020 – 5.24pm
The biggest issue for early-stage digital health companies will be securing funding in a post-COVID-19 world, according to a new report.
Bronwyn Le Grice of ANDHealth says accessing capital will be difficult over the next two to three years.
At the same time, digital health technologies will be more widely used and accepted by the public and doctors, providing a runway for increased take-up, the report says.
Bronwyn Le Grice, chief executive and founder of ANDHealth, a non-profit digital health accelerator, believes COVID-19 will change patient and clinician attitudes and create a wave of healthcare policy reform.
"This has the potential to make digital healthcare universally accepted and utilised for the health and wellbeing of all Australians," she told The Australian Financial Review.
Globally, the digital health market is predicted to reach $US505 billion ($730 billion) by 2025, up from $US86.4 billion in 2018.
According to the report released by ANDHealth, more than 300 emerging digital health companies across Australia are well positioned to cash in on this growth.
However, the industry is hampered by a few key commercialisation challenges such as access to capital, access to customers and access to expertise in areas such as regulation and reimbursement.
"We saw a record-breaking quarter with $US4.5 billion raised [globally] in the first quarter of 2020 [in digital health investment]," Ms Le Grice said.
"But that dropped off dramatically after the first COVID death was announced. COVID puts up a number of challenges, with access to capital the single biggest challenge for innovators in Australia."
Traditional sources
Brandon Capital's Chris Nave, who heads Australia's largest life science investment fund, agreed.
He said there would be challenges for all innovation companies to raise capital in the coming year from their traditional sources such as super funds, venture capital, private equity and high-net-worth individuals, because all had faced financial challenges due to COVID-19.
Ms Le Grice said that over the next two to three years, accessing capital would be difficult, and companies attracting foreign investment would need to navigate the changed foreign investment review thresholds while they remained in place.
"Capital restraints are likely to exacerbate cash-flow issues for pre-revenue companies developing medical-grade products and services, as will the likely reality of a global recession," Ms Le Grice said.
Many companies would also need highly specialised support to enter international markets, especially while barriers to international travel remained.
Ms Le Grice said the ability to get deals completed over Zoom would be tested by companies and investors through to 2021.
More here:
The report is well worth a download and read to see the huge diversity of the range of initiatives that are going on in the sector, while suggesting that access to capital is an issue – especially in COVIDTimes.
And even more is going on as shown here:
https://www.digitalhealthcrc.com/about-us/
This is in some ways the Government equivalent of ANDHealth and takes a more University / Government led approach!
All in all there is a great deal activity beyond the noise generated by the hopelessly failed ADHA.
David.
1 comment:
There certainly is David, ADHA should have been a core part of all this. If only someone had done her job and delivered those other flagship programs.
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