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Business Sweden: “Companies have a lot to offer in data-driven precision medicine”

Data-driven precision medicine can potentially solve major healthcare problems, states Business Sweden in a new report on the subject.

“The healthcare system is under a lot of stress and pressure, but the industry offers many solutions. I am thinking, in particular, of all the new digital solutions, mulitomics, genomics and everything happening in the pharma sector,” says Eric Blomquist at Business Sweden and continues.

“These factors combined will create a new way of providing medicine at all levels.”

Sweden and Swedish companies are well positioned to take advantage of these opportunities, says Britta Stenson, Head of Global Industry Network Life Science at Business Sweden.

Sweden has a strong position in both digital health and pharmaceutical development. We also have many companies developing drugs for advanced therapy and a goal of becoming a leader in the digitalisation of healthcare by 2025, Business Sweden states in its report.

However, there are global challenges, including the availability of shareable data.

So, how should life science companies think? Business Sweden has listed three strategic recommendations.

One of them is to make data more accessible.

“Having a strategy for data is important, and interoperability is central here. A huge part of the transformation we are seeing in healthcare is about providing those who work with tools and processes to enable them to work better, and health data is a vital part of that,” says Britta Stenson.

Adapting solutions to different local conditions is also crucial in order to successfully integrate them into the healthcare system and to facilitate the integration and use of new solutions, she says.

“Many companies have a lot to offer, and it is important to understand where you fit in and how you can contribute,” says Eric Blomquist.

The report is available on Business Sweden’s website.

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