The following post highlights how Venture Scanner categorizes the Health Technology startup landscape, and presents our Innovation Quadrant showing how those categories compare to one another. The data for this post is through August 2017.
The above sector map organizes the sector into 22 categories and shows a sampling of companies in each category.
Our Innovation Quadrant provides a snapshot of the average funding and average age for the different Health Tech categories and how they compare with one another.
Heavyweights: These categories are comprised of companies that have reached maturity with significant financing.
Established: These categories are comprised of companies that have reached maturity with less financing.
Disruptors: These categories are comprised of companies that are less mature with significant financing.
Pioneers: These categories are comprised of companies that are less mature with earlier stages of financing.
The definitions of the Health Tech categories are as follows
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.
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.
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.
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.
Gamification of Health: Application of game elements to promote behavior-changing health and wellness. Examples include gamification solutions for healthy eating and fitness.
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.
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.
Healthcare Robotics: Companies that create robotics solutions for healthcare. Examples include companies that create robotic prosthetics and robotics solutions for remote patient treatment.
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.
IoT Fitness: Companies that create connected devices that track fitness and exercise metrics. Examples include healthy eating trackers, exercise tracking wristbands, and smartphone-controlled shoes.
IoT Healthcare: Companies that create connected devices that track health metrics or help improve health well-being. Examples include breathing mobile games, sleep trackers, and pain relief wearables.
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.
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.
Nutrition Innovations: Companies that provide nutrition information, healthy lifestyle plans, and healthy food delivery.
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.
Online Health Destination Sites: Websites providing health-related information and resources. Examples include symptom checklists, drug information, and resources that discuss more specific issues.
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.
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.
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.
We are currently tracking 1,978 Health Tech companies in 22 categories across 57 countries, with a total of $48 Billion in funding. Click here to learn more about the full Health Technology market report.