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Digital health report examines over 12,000 digital health ventures

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Data-driven market intelligence company Galen Growth and independent global integrated marketing services agency FINN Partners has announced the launch of the first Global State of Digital Health Report.

The report, which will be released today at the HLTH Conference in Las Vegas, analyses more than 200 million data points from more than 12,000 digital health ventures worldwide.

The report, which is also available for download, is the first in a series to be released every quarter.

The second report will be released in January 2023 at the JP Morgan Healthcare Conference in San Francisco.

Experts from Galen Growth have worked alongside the FINN Global Digital Health Group to chart the complex and often fragmented digital health landscape, emerging market trends, areas of growth and innovation.

This novel report defines the high priority therapeutic sectors, what digital health geographic hubs benefit most from the capital infusion and at what stages of development equity funds prefer to engage and invest,

Julien de Salaberry, CEO and co-founder of Galen Growth, said:

“This first-of-its-kind ‘Global State of Digital Health Report’ does more than examine monies invested in the broad digital health category.

“It offers the corporate, accelerator, and private equity decision-maker a roadmap for how multiple data points translate into market shifts and how to pinpoint trends that provide predictive insight and best practices in investment strategies, across regions, digital health categories, therapeutic areas and technologies.”

Highlights from the report include:

  • Early-stage venture funding remains strong, promising a healthy innovation pipeline, while the IPO market has stagnated
  • With only 27 per cent of ventures having raised venture capital in the last 18 months, the remainder of the ecosystem could be facing a bumpy ride
  • A global analysis of 12,000+ digital health ventures reveals that just 17 per cent have significant clinical strength
  • Among the top five most invested therapeutic areas, gastroenterology was the only one that saw an increase in funding (2 per cent) from 2021 to 2022.

Gil Bashe, Chair Global Health and Purpose, FINN Partners, said:

“Suddenly cut off from ‘in-the-room’ contact, digital was the connective tissue between physicians with their ailing patients and pharma brands with consumers and payers.

“But enthusiasm – the rush to enter the digital health category – cannot triumph over strategy and long-term business planning.

“This report will help C-Suite decisionmakers determine where the health innovation is headed and why. Any road will do when you don’t know where you want to go.

“But the system needs to know where it’s headed when it comes to sustaining people’s health.”

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