2023 Year End Digital Health Global Key Trends Report

Galen Growth is pleased to share with you our 2023 Year End Global Analysis on Digital Health Innovation. We look across the global startup ecosystem for Digital Health and explain the current trends that are driving demand. Our analysis focuses on private ventures and includes ecosystem growth, most active partners, regulatory approvals and venture funding.

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


  • Discover the global decline in Digital Health venture funding, dropping to $22.0B, a 37% YoY decrease from 2022. Navigate the sector’s transition from hype to reality amid ongoing geopolitical uncertainties expected to persist into 2024.
  • Uncover the challenging landscape for Digital Health ventures, grappling with critical funding shortages. Only 34% of global growth stage ventures secured funding in the past 18 months, signaling a notable decline in investor support.
  • Witness Health Systems dominating partnerships, growing 1.2x in 2023. Globally, Digital Health ventures disclosed 2,400 partnerships, marking a 3% YoY increase. Delve into the evolving collaboration landscape shaping the industry.
  • Examine the global adoption of AI in Digital Health, with 39% leveraging Artificial Intelligence or GenAI technologies. Explore how ventures, especially in Medical Diagnostics and Patient Solutions, harness AI. Understand the prevalence of GenAI in the Medical Diagnostics Cluster and the varied use of other AI technologies.
  • Track the shift in Digital Health investor participation, peaking at 3756 in 2021 and declining by 36% to 2594 unique investors in 2023. Discover the changing investor dynamics from 2019 to 2023, with 28% actively participating in funding rounds in 2023.

Featured Companies

The “2023 Year End Digital Health Global Key Trends Report” report includes data on the following companies:

EvokAI, Recursion, Twentyeight Health, Commure, Phenomic AI, Aledade, HeartFlow, Monogram Health, Distalmotion, Neumora Therapeutics, Headway, Kindbody, Zipline, Generate Biomedicines, Haystack Oncology, Dialogue, Cloudbreak Health, Revela, Valence Discovery, Turnstone Biologics, FORME, Bullfrog AI, PharmEasy, XtalPi, Saluda Medical, Halodoc, Mamaearth, Volpara Health, GP2U Telehealth, MyHealth1st, PREVENT, MiRTel, Yaoshibang, ETAO Cloud, Coreline Soft, eGym, CMR Surgical, Patient21, Urban Sports Club, Diamond Whites, Babylon Health, Medexprim, 7Mind, Augmedics, K Health, Ibex Medical Analytics, Healthy.IO, TytoCare, Arkan United, DiA Imaging Analysis, Nala.ai, Nafas, Smileneo, Sami, HealthAtom, Genial Care, Extendeal, Fiibo, Healium Health, Kasha, MyDawn, Yodawy, Maisha Meds, Fauna Bio, Owkin, Nayya, Virgin Pulse, Mahana Therapeutics, Eli Lilly, Merck & Co. (MSD), MetLife, Cigna, Bayer, Mayo Clinic, AstraZeneca, Roche, Humana, Cigna

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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: 2 pages
HEADLINES: 9 pages 13 charts, 3 table
ECOSYSTEM INSIGHTS: 6 page, 9 charts, 1 table
INVESTMENT INSIGHTS: 15 pages, 38 charts, 1 table
CLUSTER FOCUS: 5 pages, 8 charts, 1 table
THERAPEUTIC FOCUS: 3 pages, 3 charts, 1 table
WHAT’S NEXT?: 2 pages, 1 table
NOTEWORTHY: 8 pages, 2 tables, 8 charts



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