The US healthcare industry is undergoing significant disruptions as the coronavirus pandemic catalyzed the need for improved healthcare delivery and digital health startups are at the helm of this transformation.
Globally, healthcare funding to private firms reached $18.09 billion in Q2 2020, establishing a new quarterly record, with equity investments growing 6.3% quarter-over-quarter from 1,197 deals in Q1 2020 to 1,272 deals in Q2 2020.
In a new report, Insider Intelligence examined the top five US digital health startups in AI, telehealth, and medical devices – the areas of digital health with the most number of deals in the first half of 2020.
The companies mentioned in this report are: 98point6, Abbott, Aetion, Anthem, Bigfoot Biomedical, Biofourmis, Bright.md, Chugai, Cigna, Element Science, Firefly Health, Gaido Health, Genesis Health, Happify Health, K Health, Komodo Health, Mindstrong, Modern Fertility, Oak Street Health, Onera Health, Premera Blue Cross, Vicarious Surgical, and Virta Health.
Here are some key takeaways from this report:
— Digital health startups are transforming the US healthcare system amid the growing demand for improved healthcare delivery catalyzed by the coronavirus pandemic.
— The AI, telehealth, and medical device spaces are the three areas of healthcare where technology is causing the biggest disruptions. These spaces represent the digital health market areas that scored the most number of deals in the first half of 2020.
— AI’s ability to rapidly sift through vast sums of data, facilitate remote patient monitoring, and power digital therapeutics highlights the transformative power of the tech in healthcare – and it’s attracting substantial investor attention.
— Telehealth usage – and investments – have surged amid the coronavirus pandemic, underscoring how virtual care solutions are already making a sizable impact on the US healthcare delivery landscape.
— The medical device market, with tech ranging from remote monitoring devices to robotics-based surgical tools, is experiencing record-breaking investment activity.
The full report:
— Highlights how the coronavirus pandemic has accelerated growing demand for improved healthcare delivery, and the steps digital health startups are taking to transform the US healthcare system.
— Provides an overview of the three areas of healthcare where technology is causing the biggest disruptions – AI, telehealth, and medical devices – and the factors making these markets particularly ripe for transformation.
— Identifies the top 5 US startups to watch in the AI, telehealth, and medical device market areas.
— Shares forward-looking insights on what’s next for each of the featured startups.