Fusion of pharma giants and technology: the new era of equality

PEEK INTO THE STATS

The healthcare industry has an evergreen relevance. Its values are valid for as long as everyone wants to be fit and well healthwise. The revenue generated annually in healthcare, due to its obvious importance, is unparalleled. Every year there’s a new leap because the future is always better than the past. More precisely, the global healthcare services market is projected to increase to $7,548 billion in 2022 as against $6,872.86 billion in 2021 at a compound annual growth rate (CAGR) of 9.8%. There is a forecast for global health to rise above the projected horizon between 2022–2026 as the market continues to grow, and also rising options in the strategies of key players. In a projection last year, digital fitness and wellbeing is forecast to account for $88.67 billion, while the eHealth segment should bring in $61.18 billion this year (2022). The global digital health market is expected to grow from $128.80 in 2021 to $149.9 billion in 2022. Healthcare is basking in millions and expected to bask in Multi millions in the near future. The Covid-19 effect has given more wings to the health sector. The industry is growing steadily and facing the market head-on with better strategies, it can only get better.The major industries here are big pharma producers and health care providers.

WHAT MATTERS THE MOST?

Listen up! The most important thing to note is that without active human involvement in healthcare, the figures would be nowhere near these: The inventions, services, and care would be useless, which makes every living person an important entity in healthcare. Unfortunately, the system has disregarded a solid foundation. The focus on healthcare has shifted from helping people to making money. Its revenues and figures have made health care more of a large cash pie that every tech giant wants to have a bite of. The big four tech companies (Alphabet, Amazon, Microsoft and Apple) have been covetously creeping into the health sector. They all are termed user-centric without democratizing their systems. Some even call it a revolution in healthcare, when in reality,, it’s a revolution of wealth creation. Consumers are never treated as stakeholders so the relationship is not balanced. While it’s assumed that you benefit from their products and services, you actually “pay” more than you think you did. Let’s explore more! Some apps charge a small fee or are free. In an economic sense, this is supposed to be a balanced deal, but here is the question: what is the economic component? And there’s one simple rule here — if you’re not paying for the product, then you are the product!

In fact, you provide the most valuable product — data. You supply your medical and lifestyle data and records for the products in order to make the services from tech companies available to you.. All data is carefully collected and stored, and then monetized, and you are just a naive data provider in this cash flow. Your favorite tool makers and tech models are heroes in not-so-shining armour who dominate health care. For your information:

Apple is using its popular consumer-facing products, like the Apple Watch and iPhone, to forge partnerships with payers, health systems and clinical researchers. Apple has been boosting the number of accessible .health-related features on its watches to establish the wearable as a clinical tool to be used in medical research.

Google health goes back as far as 2006 but folded. It was restructured and relaunched in 2018. It was created as a repository for med data but has evolved beyond that. It has built health care tools and AI powered dermatology assistance tools. Recently it secured a partnership with Amwell, Mayo Clinic, and highmark health and Ascension. Its parent company -Alphabet- has made enormous equal investments in Health care and is said to be among the forerunners.

Amazon combines virtual and in-person services for it’s healthcare. It launched a web service to this effect and invested in the healthcare hardware “Halo band” that tracks health metrics. It recently linked up with prominent partners on its quest to expand the healthcare model Nationwide.

Facebook developed a redirect tool in 2018 and added a preventive health feature in the Facebook application. It acquired CTRL labs in 2019, which has a wearable that has biometric data. Although it scrapped its smart watches earlier, it now offers fitness related fun with the use of its VR goggles.

Microsoft launched it’s healthcare cloud in 2020 to provide a digital health solution. It went further to acquire the $19.7billion dollars AI voice recognition company NUANCE to upgrade it’s services. It recently launched Azure health data services to boost healthcare interoperability.

These and more are the ways tech giants are steadily creeping into the healthcare industry. The services and products invested are estimated to be around $3billion dollars. You may wonder if this enormous investment is solely for your benefit as a consumer or not. Undoubtedly, the products and services offered by them are beneficial to users, the crux of the matter is that you pay more than you realize, and the producer-user balance is absent.

THE NEED FOR EQUALITY IN GROWTH ALONGSIDE TECHNOLOGY

The advent of technology and its use by the pharmaceutical industry has brought a huge growth in revenue and healthcare services. The global revenue for pharmaceutical production was estimated at 1.27 trillion in 2020, while the 2021 revenue chart hit the top ten with over tens of million of dollars. The big techs steadily try to take this over, use it largely for their own benefits, and cooperate with some big pharma or through their own inventions. The priorities of humans aren’t taken into consideration as a major stakeholder. Even though healthcare systems are growing, citizens spend more to enjoy these benefits. However, the amazing path of personalized medicine — from a scientific point of view — is still affordable, but only to the elite. As an example, the CAR-T cell therapy which could cure, among other things, leukemia, actually costs around $400,000 per treatment…

The need for a balanced system has led to the revolutionizing of the healthcare industry. This revolution is leading to a system in which the ordinary person will be treated as importantly as any elite would be treated. It is a system that will value the health status of every person, secure their data tightly in a safe place, and compensate them duly for their contribution to the database. Once, this was only a dream, but recently has been realized through DeHealth. It’s the inlet to the world of equality in the medical world.

TECHNOLOGY AS A BENEFIT FOR EVERYONE

DeHealth is a decentralized health care platform that involves every single person in the use and process of their med data. Through this, it offers incentives to every individual and secures their med data on the blockchain technology.

The prospect, mission and vision of DeHealth is tailored towards giving every right to individuals in the use, process and storage of their medical data. DeHealth doesn’t cooperate with organizations but are friends with the medical industry. The aim is to balance the scales and share medical resources with every individual possible.. Unlike other similar developments, we are not just a tool for the medical industry. Take a careful insight into all digitized medical tools, services or innovations of the big techs or this recent one by Oracle. Even though they were all standard innovations claimed to take health care to a better level, they were totally controlled by the creators and people could only benefit from this at their mercy and subsequent to payment. DeHealth is a human-centered solution; it’s not a B2B or B2C tool in the global sense, DeHealth is an H2H product — a product made by people for people. The DeHealth network processes and incentivises users with the use of its DHLT token, which is secured on the ecosystem through its Wallet. It gives registered users access to world-Class healthcare services through its mobile Apps and has an AI in view that can provide preventive medical services/cures for users. DeHealth creates a win-win situation, you get paid for using the platform while benefiting from its services. Your med data is secured and serves as an incentive source for you. It’s as plain as extensively detailed in the White Paper.

TAKE-AWAY NOTE

The fusion of technology and the Big Pharma industry is expected to revolutionize the healthcare industry, (but it is slowly being hijacked by the tech giants — and we already see how most of the Big Pharma companies already have lucrative collaborative engagements in place with the GAFAM and other technology giants). However, the narrative is changing with the advent of a decentralized health platform, DeHealth. It’s a platform made solely with the interest of the stakeholders in mind and grants them an equal incentive to the effort they put in. It democratizes wealth creation with incentives through medical records. ‘Nurturing a dynamic R&D pipeline, and bringing new and better drugs to the market, is still one of the key challenges for the Big Pharma industry today,’ says Philippe Gerwill, a Digitalization Humanist and Futurist with 30 years in global roles in big multinationals and mostly in the pharmaceutical industry. The immutable med data could be used largely for inventions and cures by governmental agencies and big pharma companies, while users get incentives for the use of their data. This leads to a win-win situation, med data being used for a better cause through technological invention and duly incentivised citizens that provide the details. This is the future we want to see: where and when everyone matters.