Commercialisation strategies for digital healthcare technologies. A case study analysis

Abstract

Commercialisation is an indispensable part of research. Firms, organisations and universities all around the world are increasingly commercialising their inventions in order to reap more benefits. However, the process of commercialisation is not the same across all industries. Depending upon factors such as IP, regulations, market, competitors, technology, political and social environments commercialisation frameworks can vary. Similarly, for research institutes, instead of following the routine pattern of commercialisation i.e. spin-offs and licensing, it is essential to develop alternative commercialisation strategies, in order to generate more revenues and increase research output. The digital healthcare industry is a converging industry consisting of software and healthcare industries. Being a relatively young industry, there are no dominant commercialisation paradigms, thereby delaying a product’s market release and adding to the financial woes of the company. Also, uncertainty associated with factors such as IP and regulations have imposed barriers on the commercialisation of this industry. It is therefore essential to develop an effective commercialisation strategy exclusively for the digital healthcare industry, considering the aforementioned factors. This thesis is thus an explorative qualitative study, looking to develop an effective commercialisation strategy for the digital healthcare industry using an abductive approach. By using methods such as company benchmarking, semi-structured interviews and multiple case studies, this thesis aims to formulate a dominant commercialisation paradigm, similar to that of a biotech or a pharmaceutical industry. The digital healthcare industry is found to be governed by the same IP laws as applicable to the software industry, resulting in increased uncertainty amongst people with regards to what technology can and cannot be protected. Similarly, being a relatively young industry, regulatory agencies are still unsure about the regulatory frameworks for digital healthcare devices. Therefore, depending upon the technology and its intended use, the same device might have different IP and regulatory requirements, which could affect its commercialisation strategy. Due to these uncertainties involved, establishing a dominant commercialisation paradigm for the digital healthcare industry is still unclear, as each technology needs to be analysed on a case by case basis. While this thesis is significant for both, academicians and industrialists, it is the policy makers who will benefit the most. By studying the barriers imposed by such factors, policy makers can not only take the necessary steps to avoid the mistakes made by the current healthcare system, but also look to reduce the uncertainty associated with the aforementioned factors.