Middle East Digital Health Ecosystem 2022 Year End Report

Middle East Digital Health Ecosystem 2022 Year End Report

Galen Growth is pleased to share with you our 2022 Year End insights and deep dive into the Middle East Digital Health Ecosystem. We focus our analysis on the ecosystem key trends, through the lens of:

• Key categories
• Disease areas
• Noteworthy partnerships
• Regulatory approvals
• Venture funding

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

Contents

• Digital Health Headlines
• Ecosystem Insights
• Investment Insights
• Cluster Focus
• Therapeutic Focus
• Deep Dives
• Noteworthy
• What’s Next?

Key Insights

• Digital Health has its feet back on the ground after the extraordinary 2-year pandemic period funding spree. In this year of geopolitical turmoil and looming economic recession, Digital Health is nevertheless proving resilient. And despite global venture capital down, Ventures in the Middle East raised a total of $1.32B, up 6% YoY.
• Despite the strong growth, partnership activity in the Middle East remains low. In 2022, the region only accounted for 2% of the total number of partnerships disclosed. Notably, most of these partnerships are by Middle Eastern ventures who already expanded to either North America and/or Europe.
• The Middle East counted 60 new regulatory filings for Digital Health in 2022, accounting for 10% of the global regulatory filings. Despite the lower total of new filings, ventures in the Middle East are more likely to show clinical evidence. 20% of the ecosystem have an Evidence Signal >40, indicating that the venture has run clinical trials, received regulatory filings, or has more than 4 peer-reviewed publications
• Ventures with focus on Cardiovascular Diseases continued their acceleration. Venture funding rocketed 80% YOY over 2021 and was capturing more than $200M of total venture capital. Despite the growth, the total was largely driven by a large Series D funding round in Aidoc.
• Digital Health in the Middle East remains heavily driven by Israel. In 2022, 96% of the total venture funding was invested in ventures headquartered in Israel. Only the United Arab Emirates demonstrate a promising development with their venture funding up strongly to $85.5M.

Source of Data

HealthTech Alpha, Galen Growth’s proprietary on-demand platform, is the data source for this report. With more than 250 million data points HealthTech Alpha is the leading Digital Health intelligence and analytics platform. Moreover, its coverage exceeds 12,500 Digital Health ventures globally. To find out more about our data, visit https://www.healthtechalpha.com/, or visit https://www.galengrowth.com/research for our reports.

Our Mission