Sunday 2 October 2022

Arab Health 2018

Digital health start-ups raise $11.5bn in 2017: study

DUBAI, October 15, 2018

Digital health start-ups are said to have raised $11.5 billion in 2017, up 27 per cent from 2016, said a report issued by Arab Health, the largest exhibition for healthcare and trade professionals in the Mena region.

“The market is ripe for new healthcare start-ups and entrepreneurs looking to make their mark on the industry,” said Ross Williams, exhibition director of Arab Health, commenting on the report titled “Technology: Accelerating Innovation Across Healthcare”.

“Over the years, we have seen growing interest in new products and innovations that will contribute to shaping the future of healthcare. Hospitals, medical device manufacturers and service providers across the globe are facing increasing pressure to innovate in order to become competitive,” he added.

The report outlines the positive impact of technologies such as Artificial Intelligence (AI), Virtual Reality (VR), wearable technologies, 3D printing and drones as an agent for transformation in healthcare.

According to Research & Markets, the global wearables medical devices market will reach $14.41 billion by 2022, up from $6.22 billion in 2017 at a CAGR of 18.3 per cent during the forecast period. With similar strong growth predictions in all markets, cost savings and quality improvements in healthcare are increasingly emerging from innovative solutions.

The Innovation Hub will feature the Innovation Showcase allowing visitors to explore cutting-edge healthcare technology including AI, disease management and home care devices, mobile device accessories, telemedicine platforms, to name a few.

Thom Soutter, director, Business Development, Synapse Medical Services, said in the report: “Technology is at the forefront of any lean innovation that is required to disrupt outdated models that are costing healthcare spend, and innovation and telehealth advancements cannot come soon enough. A shift towards preventative methods is needed more than ever as an alternative to curative medicine where appropriate. Healthy lifestyle apps, telehealth and patient engagement through technology will be the key.”

Working alongside government entities such as UAE Ministry of Health and Prevention, Dubai Health Authority, Department of Health Abu Dhabi and SEHA, Arab Health will host the new Innovation Hub - a dedicated area at the show for attendees to immerse themselves in the latest healthcare innovations.

Dr Mohammad Al Redha, director, PMO, Informatics & Smart Health, Dubai Health Authority said: “With the recently launched Innovation and Artificial Intelligence Strategy, the DHA is able to strengthen its medical and human capabilities to provide value-based and sustainable healthcare services to the people of Dubai by harnessing the latest technologies in the world of AI used in diagnosis and treatment. The Innovation Hub at Arab Health is a valuable platform to explore ways to transform ideas into reality.”

The Innovation Hub will also be the platform for the inaugural Innov8 Talks at Arab Health. As well as daily free-to-attend talks with discussions led by keynote speakers, the Innov8 Talks will also host a series of Pitch sessions for the region’s most creative and forward-thinking healthcare start-ups and SMEs to sell their ideas to an esteemed panel of judges that are involved in driving innovation in the UAE.

Organised by Informa Life Sciences Exhibitions, the 44th Arab Health Exhibition & Congress takes place from 28 – 31 January 2019 at the Dubai World Trade Centre and will welcome more than 4,150 exhibiting companies from 66 countries and an anticipated 84,500+ attendees from across the globe.

As well as providing a platform for the world’s leading manufacturers, wholesalers and distributors to meet the medical and scientific community in the Middle East, delegates can benefit from 11 business and Continuing Medical Education (CME) conferences as part of the Arab Health Congress. – TradeArabia News Service

Tags: Arab Health | Digital health |

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