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Digital & Innovation

Australian digital health innovators impact over 1 million patients

Health Industry Hub | October 18, 2023 |

Digital & Innovation: Australian digital health companies supported by ANDHealth have successfully impacted over 1 million patients since 2018, marking a significant milestone in healthcare innovation.

ANDHealth has been instrumental in driving this accomplishment through their flagship programs, ANDHealth+ and Masterclass. These initiatives, funded by the Medical Research Future Fund (MRFF) and MTPConnect, have provided essential support to 44 companies, offering expert advice, education, mentoring, and, for ANDHealth+ participants, investment.

The impact on patients has been substantial, with these companies utilising cutting-edge technologies to diagnose, treat, manage, and mitigate various health conditions. Among the technologies making a difference are Seer Medical’s innovative epilepsy monitoring device, VaxApp’s immunisation management platform, streamlining vaccination processes, and Perx Health’s digitally-scaled care management platform, aiding high-risk patients in adhering to their medical treatment plans.

Bronwyn Le Grice, CEO, and Managing Director of ANDHealth, emphasised the significance of this achievement, stating, “To reach 1 million patients through novel digital health technologies is an amazing outcome for Australia’s emerging digital health sector and a testament to the tenacity and ingenuity of Australian health innovators.”

Ms Le Grice further highlighted the potential of these technologies in transforming healthcare accessibility and efficiency within Australia and on a global scale. She stressed the need for continued investment in digital health commercialisation to propel Australia into a digital health powerhouse and enable the export of innovations globally.

The growth of Australia’s digital and connected health sector has been extraordinary, with the number of companies supported by ANDHealth experiencing a remarkable 178% year-on-year growth since June 2017. This underscores the immense potential that digital health holds in the healthcare landscape.

Globally, the data is equally promising, showcasing a significant surge in investment into digital health, reaching US$57.2 billion in 2021 – an impressive 79% increase from the US$32 billion raised in 2020. Predictions indicate that the global digital health market is set to reach an astounding US$1004 billion by 2031, further validating the immense growth potential within this sector.

Ms Le Grice pointed out the increased acceptance and recognition of the benefits of digital technology in the wake of the pandemic. She noted, “Since the pandemic, there is clearly an increasing willingness on the part of patients, providers, payers, and physicians to positively consider the benefits of digital technology, not only as critical connected health infrastructure but as a clinical intervention in its own right.”

In addition to the remarkable patient impact, the companies participating in ANDHealth’s scale-up programs have also made significant strides in fundraising, generating over $165 million in new funding and boasting revenues exceeding $49 million. These endeavours have also spurred the creation of over 1,000 new commercial pilots and research studies.

In reimagining healthcare across the entire patient journey, Health Industry HubTM is the only one-stop-hub bringing the diversity of Pharma, MedTech, Diagnostics & Biotech sectors together to inspire meaningful change.

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