The Forming of the Global Service Providers Market for Digital Health Companies

The growing digital health solutions market has attracted thousands of service providers, trying to sell their services and solutions to digital health startups and grownups. Service providers offer technical, business, legal and service delivery support.

As the digital health market continues to burgeon, with hundreds of thousands of companies worldwide vying to make a difference, a range of needs for scaling up their operations and enhancing service offerings emerge.

The R2G’s recent survey “Digital Health Startups: Outsourcing Needs”, revealed that digital health solution providers globally are looking for help across 4 main service areas: technical, business, legal and regulatory, and service delivery.

Among the technical support areas, the digital health decision-makers need medical software and app development experts the most for their businesses by 60%. Followed by HCP brokerage services (59%) under the service delivery needs, the digital health solution providers are looking out for third-party service providers to help them with access to the HCPs.

Among the business needs, the digital health stakeholders seek out experts in partnership building (53%), investor search (51%), and business development consulting (49%). ISO certification or IP protection-related services (41%) from the legal and regulatory area are also among the top priorities of digital health solution providers of in the coming years.

In response to the expanding global digital health market, numerous third-party service providers have emerged within the industry. These providers cater to the diverse needs of solution providers operating within this rapidly evolving landscape.

Medical app development: The medical app development experts like Cogniss and bene : studio play a pivotal role in developing robust, user-friendly, and compliant software solutions tailored to the unique requirements of the healthcare industry. With expertise in healthcare regulations, data security, and interoperability standards, they help digital health solution providers navigate complex technical challenges.

Product validation & quality assurance (QA): Product validation and QA services, in the radar of the 28% of the digital health stakeholders in the survey, include comprehensive testing and validation processes, to assess the performance and compliance of digital health solutions. From automated testing and regression testing to compliance auditing and documentation management, these providers such as Vertrical, Labquality and Medius Digital help digital health companies streamline their QA processes and maintain compliance with evolving regulatory requirements.

Pitch deck development & revision: Crafting a compelling pitch deck is essential for digital health companies seeking to attract investors, secure funding, and communicate their value proposition effectively. Pitch deck developers specialize in creating visually engaging and persuasive presentations tailored to the unique needs and objectives of digital health ventures.

IP protection: IP protection service providers like Hardian Health collaborate with digital health companies to assess their IP portfolios, identify valuable assets, and develop strategies for monetizing intellectual property, safeguarding their innovations and mitigate the risk of infringement.

Contract negotiation: Effective contract negotiation is essential for digital health companies seeking to establish partnerships, secure funding, and commercialize their solutions and services. Service providers like Neolytix specialized in contract negotiations help with drafting, reviewing, and negotiating a wide range of agreements, including licensing agreements, joint venture agreements, collaboration agreements, and vendor contracts.

Cloud services: 47% of survey participants search for cloud service providers such as Amazon Web Services or Hyve. They in general offer scalable infrastructure resources, including computing power, storage capacity, and network bandwidth, to accommodate the growing data demands of digital health applications. Additionally, they invest in robust security measures to protect the healthcare data from cyber threats.

AI & ML services: Artificial Intelligence (AI) and Machine Learning (ML) technologies are driving innovation in the digital health landscape, as 43% of the survey respondents seek out the experts such as Rocketloop or GrayLight in this segment. They are specialized in developing and implementing advanced algorithms and predictive models to analyze healthcare data, extract meaningful insights, and drive informed decision-making, to enhance clinical decision support, personalize patient care, optimize healthcare operations, and improve patient outcomes.

Market access & growth consulting: Market access and growth consulting firms like covalue, and Digital Oxygen, and provide strategic guidance and expertise to digital health companies seeking to enter new markets, expand their reach, and drive growth. From market research and competitive analysis to market entry strategies and business development, these consulting firms help digital health ventures navigate market dynamics and identify opportunities.

Investor search services: By leveraging their network and expertise, the investor search platforms such as AngelList, Investor Hunt or Gust, assist digital health companies in identifying and engaging with potential investors, including venture capital firms, private equity investors, and strategic partners.

Regulatory & reimbursement services: From regulatory submissions and compliance to reimbursement strategy development and payer negotiations in various country markets, the experts like CUBE, _fbeta, and Greenleaf Health help digital health companies navigate the regulatory landscape, thereby facilitating market access, entry and reimbursement for their products and services.

Access to HCPs, patients & medical data: The service providers like CoPatient, Crescendo Health, Atropos Health and Medical Digitals can facilitate connections and collaborations between digital health companies and key stakeholders, enhancing market adoption, patient engagement, and innovation. They provide access to healthcare professionals and patient data, enabling research, insights development, and innovation in healthcare delivery.

Marketing, branding & content services: Marketing, branding and content creator experts like digiCMO or Medico Digital, build brand awareness, engage target audiences, and communicate value proposition effectively for the digital health companies and their target customer groups.

Lead generation & sales support: Whether it’s through inbound marketing campaigns, outbound sales efforts, or sales enablement tools, these service providers such as Aexus help digital health companies identify and qualify potential customers, and drive revenue growth and achieve their sales targets.

Security & compliance services: Security and compliance service providers like Chino.io and Folio3 offer expertise to help digital health companies safeguard sensitive healthcare data, mitigate security risks, and ensure compliance with regulatory requirements. 24% of the digital health solution providers in the survey are in the search for experts in security and compliance of digital health solutions.

Clinical study services: Clinical study service providers like Curebase, Lindus Health and embleema offer support and expertise to digital health companies conducting clinical trials and research studies to validate the safety, efficacy, and effectiveness of their products and solutions. From study design and protocol development to patient recruitment and data management, these providers help companies navigate the complexities of clinical research and achieve regulatory approval for their products and services.

The market is still forming and are mostly small themselves, but the growing need for support from digital health companies will also make the service provider market grow.

R2GConnect now offers a new matching opportunity for service providers and digital health companies. Startups can publish “Help Requests” for any support they need on the platform. Service providers can respond or invite startups to their special offers (deals).

To learn more about R2GConnect’s new service offerings “Help Requests” & “Deals”, please book a demo session here: https://www.r2gconnect.com/r2g-demo-booking