When the pandemic crisis struck, as a mode of business continuity, many Asia Pacific (APAC) countries accelerated digital transformation creating new opportunities across startup and SME communities. A recent survey by Health-tech company Medtronic revealed that, in around 15 markets of the APAC region, a major percentage of healthcare technology organizations opine that COVID-19 had enabled the development and implementation of innovative ideas, although the positive impact on innovation differed markedly across markets. Even in South-East Asia, telemedicine, online pharmacy, and digital health mobile application gained regional traction solving the long-time concerns about access to a broader spectrum of healthcare services, the need for affordable consultations, quicker appointments, and a significant reduction in the traveling efforts of the patients. Thanks to startups and SMEs for their quick resolutions.
Enhancing Startup and SME success
The pandemic has removed multiple institutional and cultural barriers to the adoption of digital solutions in the healthcare technology setting. Digitization has grown far more rapidly than was previously thought possible and ushered in an acceptance of remote medical products and services, and alternative care models, fostering greater industry innovation. Despite current apprehensions about data protection and regulatory concerns, the healthcare system is uplifting digital healthcare and MedTech capabilities, IoT infrastructure, and cybersecurity strengths to increase workflow efficiency and patient outcomes. Many startups and SMEs are utilising the opportunity by combining pioneering science, data, analytics, and technology to deliver better Personalised healthcare (PHC) at a reduced cost.
This story is from the May 2022 edition of BioSpectrum Asia.
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This story is from the May 2022 edition of BioSpectrum Asia.
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