Global Digital Health Ecosystem 2023 Mid Year Report

• Across the globe $10.8B of venture capital was deployed in H1 2023, down 50% from $21.2B in H1 2021.
• The number of partnerships announced by Digital Health ventures grew 1.8x YoY from 2021 to 2022. H1 2023 has seen 1.2x more partnerships than H1 2022. Venture-to-venture partnerships have reached 18% share of all Digital Health partnerships.
• In 2022 and 2023, investors are focusing their funds more on ventures that can provide evidence of their solution’s effectiveness. While those ventures with significant Clinical Evidence only captured 47% share of the funding deals in their cluster from 2022 to H1 2023, they received 78% share of the funding value.
• The African Digital Health ecosystem is now part of HealthTech Alpha. With 327 ventures across 22 countries, new venture incorporation 5-year CAGR reached 27% at the end of 2022. Nearly half of the ventures offering solutions that are agnostic to therapeutic area, and the top Digital Health Category for ventures in Africa is Online Marketplaces. Nigeria takes the top spot in Africa with more than 90 Digital Health ventures.

The “Global Digital Health Innovation Ecosystem Report on H1 2023 Key Trends” report includes data on the following companies: Pear Therapeutics, Lucira Health, Babylon Health, Femtec Health, Pomelo Care, Finni Health, Caraway, BenchSci, Little Journey, and many more

HealthTech Alpha, a Galen Growth proprietary solution, powers this report!