Skip to main content

Consumers are the CEOs of their own health

Expecting more preventative and personalised products and services for a longer and healthier life

Individuals are empowered to manage their own health using data from multiple sources leading to improved health literacy, a reduction in health inequities and personalised insights. Consumers choose who they share their data with and in return expect to be engaged in co-designing products and services, and to enjoy more predictive, preventative, proactive, personalised, and precise (5P) healthcare. In particular, consumers are focused on improving their well-being and increasing healthy longevity.

The world in 2030

 

Focus on well-being: Individuals prioritise nutrition, sleep and exercise as part of a holistic health regimen, and use wearables, at-home diagnostics, and real-time environmental data to proactively manage their physical and mental well-being.

Embracing digital-first care: Individuals embrace immersive metaverse interactions with providers and AI-powered chatbots for convenient, accessible at-home healthcare. 

Tech-driven solutions for unmet needs: AgeTech and FemTech have become crucial tools in providing 5P healthcare as innovators tap into segments of the population with specific, and largely unmet, needs. 

Social value: Omnilingual digital health technology has increased health equity and consumers prioritise companies with strong ESG policies. 

Overcoming cross-cutting constraints

 

There are several cross-cutting constraints that could affect the prediction (not having the right skills and talent, funding models, approach to regulation, and data governance in place). The prediction can be realised by turning the constraints into enablers by:

  • creating collaborations across the health ecosystem and improving health and digital literacy to reduce inequities
  • implementing adequate regulatory oversight of the benefits of consumer health products, including in advertising
  • employing secure, cloud-based data systems to increase consumers’ confidence in sharing their data.

Evidence in 2024

 

  • Samsung’s new wearables: Galaxy Ring, an on-the-finger tracker collects physical activity, sleep and heart rate data and Galaxy Watch7 includes a glucose-related barometer. The devices stream data into the same app for comprehensive health insights. 
  • Improving longevity: The longevity industry attracted over US$3.8bn of venture capital investment in 2021. Hevolution has committed US$250m to propel advancements in the health span field and in November 2023 announced a US$101m fund in collaboration with the XPrize Foundation.   

How AI/GenAI might impact health consumers

 

  • GenAI can help consumers to learn about medical conditions, treatment options and how to improve their well-being, democratising knowledge.
  • GenAI can provide 24/7 connection between individuals and carers and their healthcare providers. 
  • Interaction with GenAI avatars/virtual assistants enable real-time feedback and personalised support.
  • Consumers expect transparency when GenAI is used and that concerns around bias, privacy, and potential medical errors will be addressed adequately by businesses.

Interpreting Global Trends: An Australian Perspective

 

Consumer empowerment, driven by digital tools, data transparency, and personalised wellness, is transforming healthcare and is unlocking opportunities for better healthcare outcomes, earlier detection of chronic disease and data driven insights for personalised medicine. Australia’s Health Reimagined by Deloitte Australia highlighted that approx. 70% of Australians are willing to use virtual health, and over 80% are ready to share their health data digitally. This shows a strong inclination towards taking charge of their health through digital means.Consumers in Australia are driving the change towards more integrated and personalised healthcare services, demanding transparency, convenience, and accessibility.

Consumers today play an active role in managing their health, leveraging digital platforms for virtual care, remote monitoring, and diagnostics. Enhanced data transparency provides real-time, holistic views of health status, enabling informed decision-making and personalised interventions. This shift from reactive to proactive care focuses on wellness and prevention, supported by AI and analytics for tailored insights.

Did you find this useful?

Thanks for your feedback

Our thinking