North America Digital Health Ecosystem 2023 Mid Year Report

• Venture funding in North America returned to pre-pandemic levels at $8.25B, falling 41% compared to the H1 2022 values to reach only $8.28B, but funding is up 13% from the H2 2022 values and remained nearly constant from Q1 to Q2.
• North America captured 69% of all announced Digital Health partnerships in the first half of 2023. Despite the downturn in funding, the first half of 2023 has seen a 1.2x growth in partnerships compared to same period in 2022.
• Medical Diagnostics and Patient Solutions capture together 40% of the ventures with an Evidence Signal (ES) greater than 40. Across all Digital Health Clusters, 19% of all N. American ventures have significant clinical evidence.
• Ventures with products that focus on Neurology moved from the 4th place spot for funding value in 2022 into the top spot in H1 2023. Increasing by 15% over H2 2022, funding in the Neurology reached $901M in H1 2023. 26% of the 2023 funding was raised in Series A funding rounds.

The “North America 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 others

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