To recap, in Part I of this blog post I reviewed how inefficient the healthcare sector today is and provided an overview of the specific areas that are ripe for disruption.
In this second and concluding part I’ll reveal some of the companies who are redefining the sector and what tools they’ve brought to market to transform the digital patient journey. From prevention to detection, to treatment and monitoring, the digital health space is very broad. After months of research we’ve only just scratched the surface and that’s what makes the sector so interesting for me. Healthcare as we know it has entered a real revolution which is super exciting, so here’s my pick of the subsectors, the innovations and pioneers leading the change.
There’s almost an infinite number of health-related consumer apps on the market, spanning a broad range of subsectors: general wellness, fitness, sleep, fertility, DNA, microbiome, nutrition. Often, they are matched with a relatively low-cost hardware device or testing kit.
Digital health is promoting the move to a more preventative focus, rather than a treatment-led approach to patients. I am thrilled by the prospect of people having the power to manage their own health and be in control of their health data.
Application – Cancer
“Research suggests that only five percent of cancers are hereditary. That means the non-inherited causes of cancer — the lifestyle choices we make, the foods we eat, and our physical activity levels — have a direct impact on our overall cancer risk” (1) it’s truly inspiring to think of the positive consequences on lives, public spending and the pressures on the sector if we were able to reduce cancer cases, simply by using apps on our phones.
Application – Fertility
“Around 1 in 7 couples globally have difficulty conceiving: this is 3.5 million people in the UK(2).” Fertility solutions and femtech in general presents a huge opportunity. It’s an intricate subsector which has been navigating many lifestyle trends including better awareness of conditions, the confidence to discuss problems and cultural shifts like more women choosing to have a family in their late thirties or forties.
- Every human is intrinsically a little lazy. Despite the current growing trends on prevention, incorporating a B2B2C strategy is advised, ensuring lower CAC.
- The testing itself will get commoditised. It’s the insights and recommendations that are extracted from raw data that present the real monetisation opportunity.