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Digital health however is often viewed predominantly through the lens of digital health infrastructure, whether through the Australian Digital Health Agency building and driving adoption of the My Health Record system, or on a state government or local health system level through the development and implementation of their own integrated electronic patient care record.
While that infrastructure is important, it should be seen as the foundation for broader innovation and productivity that digital and connected healthcare can provide now and in the future; digital therapeutics, remote patient monitoring, clinician services and support such as decision support software and workflow tools, AI-enabled medical technologies, connected medical devices (implantable, ingestible, etc.), wearables and digital diagnostics.
ANDHealth, Australia’s leading digital and connected health commercialisation organisation, has worked with more than 1,000 small and medium size enterprises developing technologies, products and services in this space to underpin better health outcomes and also provide significant economic impact and export opportunities.
The sector’s rapid expansion is evident in its compound annual growth rate (CAGR) of 52% since 2019, coupled with a 76% increase in the number of companies since 2022.
Globally, digital health is outpacing more traditional sectors, with a growth rate of 22%1 and Health IT at 16%2 whilst there is slower growth in the more mature medical devices (7%)3 and pharmaceuticals (5.5%)4 sectors.
To fully capitalise on this momentum and cement Australia’s position as a global leader in digital health innovation, several critical areas require focused attention and action from policymakers. These key areas form the foundation of ANDHealth’s Election Priorities, designed to nurture the ecosystem and support sustained growth and would provide an actionable pathway for the next Federal Government.
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