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March 31, 2023

Short & Long Term Bets in Digital Health : Key Takeaways from Our Global Gathering in Munich

Commentary
Jo Peddhinti

While the healthtech sector has evolved significantly in the past few years, 2023 looks set to be another year of significant change. Mass layoffs in tech , inflation across major geographies, changing customer needs and finally multiple reorganisations in the life sciences industry signal the need for rethinking how Pharma organisations can succeed with digital health in the short and long term. 

​​Looking back at Pharma’s journey with digital health so far :

Looking ahead, going back to basics and figuring out the fit with digital first and foremost will reset pharma on the right track. Through conversations with industry leaders across Pharma organisations, we have identified 5 components of a framework to guide pharma in asking the right questions in digital health.

At our Global Gathering in Munich, startups, pharma, and investors split up into several roundtables, tackling the several topics. Here is what we learned. 

#1 Reflections & learnings from pilots and experiments so far 

Pharma is usually seen as a more straightforward route to market that can provide the startup with access to HCPs and patients. However, there are no successes at scale. This can be attributed multiple factors:

#2 How can you build better foundations for digital health in pharma?

To succeed with digital health, pharma organisations are yet to build proper foundations that can enable digital health solutions at scale.

 

#3 Making decisions for success in Short vs Long Term

Most life sciences companies look for short term results, and it will be hard to convince organisations on the longer term potential unless there are short term returns. It is important that we find a balance between focusing on the short term results without losing sight of the long term opportunities.

Technologies that are the most viable bets in short vs long term: AI in drug discovery and other research focused technologies have established potential value for Pharma’s pipeline. In the short term, clinical research based technologies may have easier acceptance. Digital therapeutics and other HCP facing solutions are yet to overcome market maturity barriers and truly succeed at scale. For pharma, DTx may still be a long term play. 

Better approaches for short vs long term

#4 Building the right resources for success in digital health



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