The funding announcement of over $422 million will support 229 outstanding health and medical research leaders across Australia, with a notable increase in digital health-focused projects. This reflects the growing importance of digital and connected health technologies in addressing healthcare challenges and improving patient outcomes.
ANDHealth Chief Executive Officer, Bronwyn Le Grice, said it was pleasing to see digital and connected health projects growing in prominence in key research grants.
“The recognition of digital health projects in this prestigious grant round is a clear indication of the sector's increasing prominence,” Ms Le Grice said.
“Healthcare is facing into real challenges around workforce, demand, and funding and digital and connected health products and services are uniquely placed to help address those matters. We’re seeing that with the fact that digital health is growing at a faster compound annual growth rate (22%) than medical devices (7%) or biopharmaceuticals (5.5%) sectors.”
“While this inclusion is a positive step, funding remains a significant challenge for digital and connected health companies. The research supported by these NHMRC grants will provide crucial credibility and data points for investors, users, payers, and SMEs in the digital health space, and hopefully also sets a base for further research projects in future years that reflects the growing importance of digital and connected health,” Ms Le Grice said.
The funded projects span a range of digital health innovations, including AI-powered diagnostics, wearable technologies, and telehealth solutions. These align with global trends, where AI integration and wearable tech are playing an increasingly prominent role in patient care and health management.
ANDHealth, which has supported more than 1,000 Australian digital health companies, said these research projects could drive further growth in the sector.
“These research projects will not only advance our understanding of digital health applications but also strengthen Australia's position in the global digital health market,” Ms Le Grice stated.
References:
Grand View Research. Pharmaceutical Market Size, Share & Trends Report, https://www.grandviewresearch.com/industry-analysis/pharmaceutical-market-report
Mordor Intelligence. Medical Devices Market Size. Mordor Intelligence https://www.mordorintelligence.com/industry-reports/global-medical-device-technologies-market-industry
Grand View Research. Digital Health Market Size & Outlook https://www.grandviewresearch.com/horizon/outlook/digital-health-market-size/global
Image: In Bloom – Breast tissue showing muscle-like cells from Dr Caleb Dawson, WEHI (2023 Science to Art Award winner)