Asia Pacific Digital Health Innovation 2023 Year End Report

Galen Growth is pleased to share with you our insights into the 2023 Asia Pacific Digital Health Innovation with our Year-End Report on Digital Health Key Trends in Asia Pacific. This report looks across the Digital Health startup ecosystem to reflect on the 2023 trends moving the industry forward into 2024. Our analysis focuses on private ventures and includes most active partners, regulatory approvals and venture funding strength, among others.

HealthTech Alpha, a Galen Growth proprietary solution, and the world’s leading Digital Health private market data, intel and insights platform powers this report!

Highlights from the 2023 Asia Pacific Digital Health Innovation Report

Continued Funding Drought in APAC, with Declining Funding Strength for Growth Stage Ventures

  • APAC witnessed a significant decline in Digital Health venture funding in 2023, dropping 53% year-over-year to $2.84 billion.
  • Growth Stage ventures in APAC face a funding crunch, with only 29% securing funding in the past 18 months.
  • This funding slowdown has positioned APAC behind North America and Europe in terms of total venture capital investment in Digital Health.

Sustained Partnership Activity in APAC Supports New Regulatory Filings

  • Despite funding challenges, APAC maintained consistent partnership activity in 2023, with a 3% year-over-year increase to 488 partnerships.
  • Healthcare providers remained the most active partners, accounting for 20% of partnerships in the region.
  • APAC ranks second in Regulatory Filings for Digital Health technologies, securing 106 regulatory approvals for 61 ventures in 2023.

Oncology Remains Top-Funded Therapeutic Area

Oncology retained its position as the most funded therapeutic area in APAC for the fifth consecutive year, despite a 68% year-over-year drop to $334 million in 2023.

Ventures and Companies Covered in the Report

The “2023 Asia Pacific Digital Health Innovation Year End Report” includes data on the following companies:

Delve into the Digital Health Innovation 2023 Year End Reports for Europe and North America

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Source of Data

Galen Growth’s proprietary platform, HealthTech Alpha, provides the data source for this report. Corporate Business Development, Business Intelligence, and Digital Health Partnership teams worldwide prefer HealthTech Alpha, the world’s most-trusted Digital Health data, intel, and insights platform. Visit https://www.healthtechalpha.com to learn more about our data or https://www.galengrowth.com research for our reports.

Our Mission

Founded in 2016 by Digital Health experts, Galen Growth empowers global Fortune 500 companies, institutional investors, and promising Digital Health ventures to fast track their digital health strategy to create significant financial and social values. To find out more, visit https://www.galengrowth.com

TL;DR
HEADLINES: 9 pages, 13 charts, 5 tables
ECOSYSTEM INSIGHTS: 4 pages, 7 charts, 2 tables
INVESTMENT INSIGHTS: 6 pages, 23 charts
CLUSTER FOCUS: 4 pages, 3 charts, 1 table
THERAPEUTIC FOCUS: 3 pages, 3 charts, 1 table
DEEP DIVES: 17 pages, 25 charts, 4 tables
NOTEWORTHY: 4 pages, 5 tables
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