The health economy is one of the world’s fastest-growing industries, covering a wide range of services, applications, and technologies focused on the long-term vision of improving the human health span.

Digital Therapeutics (DTx) has clinically proven software applications prescribed by physicians to prevent or treat specific diseases. It means that digital therapeutic applications go through clinical trials and regulatory review, like a traditional drug or medical device, in order to validate their safety and efficacy.

Here the ability to prescribe treatments for everyone exactly according to their needs is the key.

DTx Estonia, the industry alliance of Estonian digital therapeutics manufacturers was founded to accelerate the adoption of evidence-based digital therapeutic solutions and drive cross-industry collaboration. The founders are convinced of the unique opportunity to become a key player in the global DTx market. With the ambition to create a unique public-private digital medicines industry.

Collaboration too is the key. To make the investment, digital medicine manufacturers need a long-term vision from the government for the systematic development of digital medicines as a new high-tech industry.

It is as well impossible to create a single, centralized, generic system to support the treatment of thousands of conditions. It can only work as an ecosystem of different services and solutions.

Another association that helps boost the health economy is Health Founders, the first health tech accelerator in the Baltics. The people involved in DTx Estonia and Health Founders are all more or less intertwined. Still, the latter comes in with helping early-stage startups through their wide network of mentors with long-term healthcare industry experience.

The digital health sector is predicted to grow 30% annually over the next five years and reach 640 billion by 2026. This is fueled by technological advancements and favorable government policies due to the pandemic. All this creates a massive opportunity for new entrants with solutions that have a global impact. There is a saying that the world’s biggest problems are also the biggest business opportunities. Nowhere is this more true than in healthcare.