The digital health space continues to mature.
This year, digital health companies are poised to surpass 2018’s record-breaking funding levels, as investors seek to back transformative healthcare technologies and services. The global pandemic has only intensified investment and innovation in the space, as public health remains top-of-mind for companies and investors alike.
Using CB Insights data, our graphic visualizes the top 10 most valuable digital health companies in the world.
Our analysis only includes VC-backed companies that are currently active and privately held. Data is as of 9/16/20. Please click to enlarge.
- 3 of the top 10 highest-valued companies are based in China. Health platform We Doctor, which takes the top spot with a $5.5B valuation, is based in the burgeoning digital health hub of Hangzhou. Since the Chinese government commenced an ambitious healthcare reform initiative in 2009, the country has developed into the world’s second most well-funded digital health market, after the US.
- New York-based Oscar leads in total funding with $1.5B raised. The company aims to use technology to simplify the health insurance system.
- The genomics category — which includes companies involved in the capture, sequencing, and analysis of genetic data — is represented here by Tempus and 23andMe. Genomics funding is set to break records in 2020 as the space continues to mature.
- A number of these companies are working to improve health insurance access and management. In addition to Oscar, this category includes Devoted Health, which offers Medicare Advantage plans to seniors, with an aim to align incentives for patients and providers. It also includes China-based mutual aid insurance platform Waterdrop. All 3 were featured in our recent health plans & benefits management market map.
For more insight into what’s next for the digital health space, take a look at the Digital Health 150 — our list of the most promising digital health companies in the world.
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