August 02, 2018
The highlights: Congress of the Council of the Future of the Bavarian Economy on “Health and medicine: Opportunities for Bavaria”
Following conferences on Bavaria’s future technologies (2015), big data (2016) and new value creation through digitalization (2017), the Council of the Future of the Bavarian Economy has chosen a topic for 2018 that not only directly affects every individual, but also has considerable economic significance and is characterised by major technological change. Decisive issues include how best to manage long-term financing of the German healthcare system while at the same time guaranteeing the best possible care. Healthcare costs in Germany currently exceed €1 billion per day. Costs have continued to rise over the past few years with the trend expected to continue, especially in the wake of demographic development. Overall, the German healthcare industry added more than €259 billion of value to the economy in 2016, which corresponds to 10% of total gross economic added value (Bavaria: €37.5 billion, or 8%). Particularly promising in this context is the expected revenue growth in mobile health applications and in the ICT/digital health industry, where annual revenue growth of 41% is expected by 2020, or an average of 24% per year.
These aspects were the focus of the Health and medicine: Opportunities for Bavaria conference held in Munich on 16 July 2018. In addition to presenting the results of the new vbw study on the topic, the Council for the Future also presented key recommendations for action to policy makers, the scientific, the business community and society at large. In focus was the question of what contributions new technology will make to the future direction of health systems and a still better preventive medicine. Another key focal point was how to generate added value with innovative products, business models and processes. Digitalization will play a key role in creating an environment that supports innovation and research and optimizing general conditions for the health industry in Bavaria.
The Council for the Future of the Bavarian Economy was established in 2014 with the aim of identifying the framework conditions in business, science and politics that are needed to encourage innovation and translate that innovation into added value on the ground. The Council sees itself as a driving force behind the effective advancement of Bavaria as a location for technology and innovation. Its members include representatives from industry, science and the Bavarian state government. The aim is to provide orientation to small and medium-sized enterprise regarding expected future developments. Each year the Council focuses on a different topic.