Insights: The Sleeping Giant Industry 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, our Digital Health: The Sleeping Giant of Australia’s Health Technology Industry report is the first to comprehensively demonstrate the vibrancy and diversity of the industry.

The Sleeping Giant showcases the potential of the sector to drive Australia’s economy and healthcare system into the future, if properly supported.
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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.

ANDHealth CEO Bronwyn Le Grice said, “It is evident that alongside our traditional investment and competitiveness in the medical devices and biopharmaceutical sectors, investment into our nascent digital health sector is also critical for the health and wealth of all Australians.”

Key Takeaways from The Sleeping Giant

The 300+ survey respondents work across a diverse set of clinical indications, technologies and end user settings:
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37% are developing technologies aimed for home use (remote patient monitoring), and a further 27% are seeking to deliver technology in a GP or allied health setting
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29% are focused on self-management and patient behaviour change (harnessing the shift to empowered healthcare consumers

25% are developing data analytics and systems, 22% are developing mHealth technologies

25% are focused on diabetes and lifestyle conditions, with a further 17% focused on mental health
Asked to identify key impacts of COVID-19 on the sector, digital health companies noted that COVID-19 had had a negative impact on:

their ability to access customers (71%)
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their ability to raise capital (63%)
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and l their ability to access government funding (46%)
Companies also noted that, in a post-COVID world, commercialisation of their technologies would remain hindered by:

a lack of digital health specific grant programs (59%)
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a paucity of digital health dedicated investors (47%)

access to capital (47%)
Despite this, 84% of respondents to our survey of Australian digital health companies said that they intended to raise capital in the year ahead, reflecting the optimism and energy of the industry at large.

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Insights:The Sleeping Giant

State of the Industry Report 2020

Digital Health: The Sleeping Giant of Australia’s Health Technology Industry

Key Takeaways from The Sleeping Giant

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