Technology is advancing. New products are released, whilst the list of possibilities keeps expanding. Recently, the sector that has felt the biggest impact of the power of technology is the health industry.
In the UK, digital health is growing in value. The last 18 months have partly contributed to this growth, however, advancements in technology over the past few years continue to influence this even further.
Digitalisation in healthcare is revolutionising how we prevent, manage and treat health conditions. As it continues to grow, many are questioning why that is. Here are a few reasons behind the sudden rise in digital health.
Selection Of Investment Opportunities
Digital health start-ups are working with fine-tuned technology. Some can provide accurate results almost instantly, identify issues and make booking appointments effectively. The cultural transformation required for digital health adoption is already starting to take place. With digital health fast becoming an essential industry, it is clear why it is one of the most successful sectors in the UK.
For investors looking for their next business opportunity or investors wanting to make their first investment, digital health could be a consideration. Fortunately for them, the ability to support the growth of start-up digital health firms has been made easier thanks to factors such as early-stage investing and the potential tax advantages this can bring.
In the UK, Enterprise Investment Schemes are growing in popularity. An EIS investment provides investors with potential tax reliefs. Firms such as Oxford Capital are helping investors to maximise on the opportunities from the EIS investment schemes. By investing in digital health now, with the support of such tax advantaged schemes, investors could receive potential returns, although, it’s worth noting investing in these companies is high risk.
Popularity In Digital Health Apps
Over the past year, digital health apps have amassed a large following. More people are focused on their health and keeping active and healthy. After spending a vast portion of last year inside, maintaining this level of fitness can be challenging. As a result, people are reaching for their phones to help them track their health and ensure they do not fall behind with their fitness routine.
Artificial Intelligence Is A Powerful Tool
In the world of innovation, AI is one of the most powerful accelerators. The evolving capabilities it possesses has not gone unnoticed in the healthcare industry. The global AI healthcare market is estimated to grow tremendously over the next few years. This prediction highlights how much of a formidable force AI is in the industry.
As the industry observes game-changing innovation, there is increasing pressure on companies to create ethical digital solutions. To meet this demand, companies are racing to understand the sheer amount of data available to improve predictive analytic techniques and apply these new innovative solutions to improve the quality of care and outcomes.
Patients, physicians, regulators and the healthcare industry as a whole is growing in adoption and acceptance. The growing acceptance demonstrates the importance of digital health and how it is here to stay. To cater to the future of digital health and the patient-centric experience, many companies are working to adapt effectively to the needs and demands of a new era of health seekers. All of which are contributing factors to the rise in digital health.