One of the big growth areas in the German economy is the improvement and individualisation of healthcare, and a recent report suggests that Germany’s digital health sector is set for double-digit growth.
Q: What do you get when you cross an ageing population with an innovative digital business infrastructure and a world-class healthcare system?
A: In Germany at least, you get a digital healthcare industry predicted to grow 21.4% between 2015 and 2020, when it will represent a significant share of the global industry’s anticipated $200bn valuation.
This growth is a part of the rationale behind a new accelerator programme, which was launched in Berlin recently, and aimed specifically at the digital health industry.
“Germany has a unique set of conditions, which should combine to make the country a digital health hub” said Dr. Marcus Schmidt, Director of Life Sciences at Germany Trade & Invest
“A current life expectancy of 81 years in Germany means that by 2035, as much as 33 per cent of Germany’s 81 million population could be over 65.”
“There is therefore a significant requirement to ensure that the healthcare system is digitalized, and that full use is being made of big data for patients and their health cards, as well as the telematics data for health implants such as pacemakers.”
“We are looking to programs like the Startupbootcamp accelerator to discover and develop integrated digital health solutions to help a young industry achieve its potential, and which will in turn attract innovative companies from around the world to invest in a rapidly-rising digital health market.”
The programme is designed to overcome the challenges such a rapidly-growing and cutting-edge technology industry commonly presents: namely ensuring consolidation of isolated products and services, along with system interoperability, regulations, diametric stakeholder interests and lack of seed funding.
Dr. Schmidt will be chairing the international session at the upcoming conhIT conference in Berlin, Europe’s leading health IT trade fair, on April 20.
Photo credit: “iStock.com/”. Material used in the preparation of this article has been drawn from Germany Trade & Invest