With the risk of infection abounding under the Covid-19 model, people are more tired of visiting a doctor/hospital or even a pharmacy than ever before. Consumers are opting to go online where they can, similar to shopping or business. Digital networks are poised to take center stage in the industry over the next five years as global healthcare takes on an ongoing digital transformation. Digital healthcare will cross EUR 1 trillion, 12 percent of the entire industry, by 2025. Although the healthcare sector is moving slowly in its response to digital disruption, the rewards will be substantial for those who adapt quickly and agilely to this market. We see that the healthcare sector’s dependence on technology turns healthcare into mere products that are both risky and industry-altering. 

Changing Market Scenario 

The end-goal of healthcare has always been to safeguard the patient and help improve patient outcomes. But now, with the rapid growth of digital health channels and other groundbreaking technology, the patient has a growing voice in the delivery of the therapy. But with transformation comes disruption. Business players ask themselves what kind of channels will dominate the market tomorrow.

Big companies might complicate things 

It is important to remember this about corporations entering the global healthcare industry, such as Google and other tech giants: indeed, they are extremely nimble rivals who are digital natives and willing to test their healthcare knowledge. And yes, they definitely offer the industry brilliant innovations and amazing new technology; but these businesses also have major gaps and obstacles to understanding the clinical and regulatory process.

The fight for ownership

Industry insiders agree that in the future, different types of players will “own” various types of clients. Healthcare professionals are also better placed to reach people with current health issues, while tech firms have the edge when it comes to prevention, owing to the vast quantities of behavioral data they carry on consumers. That poses a few significant questions. For starters, when they fall ill, how can tech companies move customers on to providers? Why is a crucial role not expected to be played by the industry? And how will the fragmented supply chain address the problem of ownership?

Such is the allure of systems that some global healthcare professionals expect the proliferation of consumer-focused apps, fuelled by technology giants like Amazon and Apple. These major players may deliver integrated applications with the tools at their disposal, linking all stakeholders in the healthcare ecosystem. The laws are being altered by value-based treatment. In the healthcare and life sciences fields, the adoption of VBC in combination with rapid technological developments is producing a paradigm change. It’s changing the area of therapy in healthcare. And as the pace of adoption of technology accelerates, producing winners and losers, the question arises: Which side of the divide are you going to land on, and who are you going to rely on to get you there… and stay there?