Executive Summary

The digital revolution continues to transform the fundamentals of healthcare. According to a Deloitte report of 2015, the global digital health market is valued at USD 51.3 billion, and is forecasted to grow by 30% each year until 2024. It is thought that 70% of healthcare organisations worldwide will invest in digital technology- including apps, wearables and virtual care- by 2018. The pharmaceutical industry, however, has not kept apace with these developments.

 

What are the challenges then that face MedTech start-ups entering the market for the first time? What should they be doing to establish successful partnerships with BioPharma companies? Bionesty was built to provide these answers.

 

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We interviewed the key movers and shakers- from fledgling start-up tech companies to biopharma consultants and marketing agencies.

The consensus?

That the industry isn’t nearly collaborative enough. And that there needs to be a new working model to boost BioPharma growth and performance.

It’s time for BioPharma companies to reimagine themselves as providers of solutions, and not merely as asset companies. They need to start partnering with digital technologies. And there are plenty of MedTech companies there to get that moving.

 

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Bionesty wants to bring about this digital sea change. We want BioPharma to start actively working with MedTech, to take advantage of those market opportunities which have remained largely untapped until now.