A panel of start-up companies — UnaliWear, Chrono Therapeutics, BraceUnder, Sleep.ai and 23andMe — spoke about the white spaces their organizations targeted and the solutions they created to fill those voids at a special Health Innovation Summit, hosted by CVS Health in partnership with Drug Store News and Mack Elevation in June.
CVS Health is poised to boost its health innovation efforts in response to a rapid-fire series of marketplace changes. Much of the focus will center on embracing emerging health trends — from connected health technology to DNA testing.
Heightened consumer expectations, coupled with increased efforts by manufacturers and distributors to adopt a “direct-to-consumer” sales model, should be compelling drug chains and other retailers to leverage new opportunities in their businesses … ," according to Steve Laughlin, VP and general manager of global consumer industry at IBM, in his CVS Health Innovation Summit presentation.
Video-based marketing messages designed for mobile viewing represent a significant opportunity for retailers, as consumers now spend three hours per day on their mobile devices, and mobile penetration continues to grow, with 2 billion new mobile phones activated last year alone.
Consumers are taking more ownership in their health than ever before, and Internet search activity, particularly on mobile devices, has become an important element of consumer healthcare decision-making.