Investors in the digital health industry will see a return of up to 35 percent every year for the next decade, according to the head of a global technology firm.
Peter Ohnemus, president and CEO of Zurich-based dacadoo, talked up the rise of the sector during a discussion on investing in medical innovations at the Future Investment Initiative Forum in Riyadh.
He said that the global value of the digital health industry for 2021 has been estimated at $26 billion, but it is forecast to grow to $238.9 billion industry within seven years.
He said: “From an investment perspective going forward over the next ten years will provide a very high return.
“The integrated digital health sector will create a 30-35 percent return every year over the next decade.”
Ohnemus said that healthcare providers needed to make it simpler for people to understand what they needed to do to stave off chronic illnesses, and the cost implications of developing such conditions.
Another CEO, Ali Parsa from London-based Babylon Health, also flagged up the costs involved in what he dubbed the “sick caring industry”, saying: “70 percent of all expenditure goes to predictable preventable diseases.”