Health Technology Q1 Update in 15 Visuals

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We at Venture Scanner are tracking 1,091 Health Technology companies across 22 categories, with a combined funding amount of $20.3 Billion. The 15 visuals below summarize the current state of Health Technology.

1. Health Technology Market Overview

We have organized Health Technology into the 22 categories listed below:

Clinical Administration and Backend: Companies that help foster management of healthcare-related administrative tasks. Examples include scheduling, patient transfers, billing, and compliance.

Digital Medical Devices & Diagnostics: Companies that manufacture a new generation of IT-enabled medical devices and diagnostic tools for use by doctors and other clinical staff. Examples include tools for use in surgery, monitoring equipment, and detection equipment.

Population Health Management: Services that help manage and analyze patient data across groups of people to create actionable insights for healthcare providers. Examples include population data management, coordinated care across populations, and streamlined reporting on individuals.

Genomics and Personalized Medicine: Companies that utilize human genome data for analytics and disease prevention. Examples include disease-specific genetic testing, more cost-efficient analytic solutions for healthcare providers, and consumer personalized reports.

Electronic Health/Medical Records: Services that create and manage EHR/EMR (Electronic Health/Medical Records) to improve efficiency and effectiveness of medical practices. Examples include platforms that provide electronic medical charts, schedules, prescription tracking, and referral letters.

Doctor Network and Resources: Social services that allow doctors to connect with each other to gain insights and discuss their experiences and expertise. Examples include platforms that allow collaboration across hospitals and social networks that identify and share best practices.

Medical Big Data: Big data and analytics for medical applications. Examples include data management, solutions to normalize and link data across different systems, and predictive analytics.

IoT Health Care: Internet of Things (IoT) focused on consumer and/or at-home health care solutions. Examples include devices that measure and track health vitals.

Doctor and Healthcare Service Search: Services that help patients find the right healthcare solutions. Examples include services to search for doctors, healthcare plans, and specialized healthcare.

Remote Monitoring and Family Care Management: Services that allow families and medical professionals to monitor and manage those in care. Examples include services that provide caregivers to senior citizens as well as alert systems for in-home care.

teleHealth: Services that allow remote treatment and/or consultation between doctors and patients. Examples include solutions that allow patients to video conference their healthcare professionals and/or text/SMS/email for treatment.

Online Health Destination Sites: Websites providing health-related information and resources. Examples include symptom checklists, drug information, and resources that discuss more specific issues.

Health Insurance and Payments: Health insurance exchanges, benefits, and patient payment management platforms that focus on providing more efficient workflow and greater transparency. Examples include health insurance marketplaces and platforms to manage and automate health benefits.

Patient Engagement and Education: Services and platforms that better inform patients about modern medical practices and treatments. Examples include in-hospital multimedia systems and patient relationship management services.

Mobile Fitness/Health Apps: Mobile apps that focus on health and general wellbeing. Examples include apps that keep track of fitness activities, provide structured fitness routines, and provide mindfulness exercises.

IoT Fitness: Internet of Things (IoT) focused on personal fitness and wellness solutions. Examples include wearables that track fitness stats, monitor heart rate, and sports-specific data collection solutions.

Online Health Communities: Social services among patient groups and medical professionals. Examples include online communities that connect similarly situated patients and platforms where doctors provide generalized medical information.

Healthcare Marketing and Campaign Management: Services for hospitals, insurance agencies, and other healthcare services to identify and target potential customers. Examples include health care specific CRM platforms.

Healthcare Mobile Communications/Messaging: Mobile communications services dedicated for hospital use by doctors, nurses, and other medical professionals. Examples include secure messaging for doctors, care transition notifications, and shareable notes amongst professionals.

Gamification of Health: Application of game elements to promote behavior-changing health and wellness. Examples include gamification solutions for healthy eating and fitness.

Healthcare Robotics: Companies that create robotics solutions for healthcare. Examples include companies that create robotic prosthetics and robotics solutions for remote patient treatment.

2. Company Count by Health Technology Category

 

The above graph summarizes the number of companies in each Health Technology category to show which categories are dominating the current market. The IoT Health Care category is leading the way with 152 companies, followed by the IoT Fitness category with 123 companies.

3. Funding by Health Technology Category

 

The above graph summarizes the total amount of funding in each Health Technology category. The Clinical Administration and Backend category is leading the market with over $3B in total funding, followed by Digital Devices and Diagnostics at $2.4B.

4. Venture Investing in Health Technology

 

The above graph compares the total venture funding in each Health Technology category to the number of companies in the category. The IoT Health Care and IoT Fitness categories lead the way in number of companies, but are in the middle of the pack in terms of funding. On the other hand, the Insurance and Payments category is in the bottom third in number of companies but in the top third in terms of funding.

5. Health Technology Total Funding by Year

 

The above graph summarizes the total funding raised by Health Technology companies each year. 2014 was the best year in Health Technology funding with almost $5.5B raised, with 2015 in the second place with a total of $4.9B raised.

6. Average Funding by Health Technology Category

 

The above graph summarizes the average company funding in each Health Technology category. The Insurance and Payments category leads the market with $92M in funding per company, nearly double that of the second placed category, Genomics, which stands at $48M per company.

7. Average Age by Health Technology Category

 

The above graph summarizes the average age of companies in each Health Technology category. Electronic Medical Records ranks as the most mature Health Tech category with an average age of 14 years per company. The least mature category is Gamification of Health with an average age of 5 years per company.

8. Median Age by Health Technology Category

 

The above graph summarizes the median age of companies in each Health Technology category. Robotics ranks as the most mature Health Technology category with a median age of 11 years per company, followed by Electronic Medical Records and Clinical Administration and Backend with a median age of 9 years per company.

9. Health Technology Company Count by Country

 

The above map shows the number of Health Technology companies located in different countries. The United States ranks as the top country with 814 companies.

10. Health Technology VC Funding by Country

 

The above map shows the amount of Health Technology venture capital funding in different countries. The United States has the most Health Technology VC funding at $14.5B.

11. Health Technology Companies Founded by Year

 

The above graph summarizes the number of Health Technology companies founded in a certain year. 2013, 2012, and 2011 lead the way with 112, 111, and 107 companies founded, respectively.

12. Health Technology Funding by Vintage Year

 

The above graph summarizes the total amount of funding raised by the Health Technology companies founded in a certain year. Health Technology companies founded in 2007 have raised the most funding at $2.3B, with those founded in 2013 at a close second with $2.2B.

13. Health Technology Headcount Distribution

 

The above graph summarizes the percentage of Health Technology companies with a certain employee headcount range. Companies with 1–50 employees make up over 70% of the market.

14. Number of Health Technology Investments by Selected Investors

 

The above graph summarizes the total number of investment rounds Health Technology investors participated in. A Capital outperformed all of its peers, having made 49 investments in Health Tech companies. Venrock Capital and Hospital Corporation of America (HCA) trail with 33 investments each.

15. Number of Health technology Companies Backed by Selected Investors

 

The above graph summarizes the number of unique Health Technology companies funded by selected investors. A Capital again takes the top spot by having invested in a total of 32 unique Health Technology companies. HCA and Rock Health follow in second with 23.

As Health Technology continues to grow, so too will its moving parts. We hope this post provides some big picture clarity on this booming industry.

Note: If you missed it, you can also read our FinTech Q1 Update in 15 Visuals and our Artificial Intelligence Q1 Update in 15 Visuals.

Venture Scanner is your platform for startup landscapes, data, and research. If you would like access to the full Health Technology landscape and dataset, visit https://www.venturescanner.com/health-technology or reach out to [email protected].

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