Galen Growth is pleased to share with you our latest insights on Digital Health in Wellness and Preventive Health. We define the boundaries of this expansive topic and explain the current trends in the market that are driving growth. We then move beyond healthcare statistics and trendy wearables to expose the spectrum of digital solutions that are moving the focus from Sick Care to Well Care. Our analysis focuses on private ventures and includes noteworthy partnerships, spotlight ventures, and venture funding.

With unmatched, unparalleled and indispensable coverage of the global Digital Health ecosystems, this report is powered by HealthTech Alpha, a Galen Growth proprietary solution, and the world’s leading on-demand Digital Health private market data, analytics and intelligence platform.

In order to reduce the burden on health systems, global healthcare organisations and governments have proposed models of care that focus on understanding and addressing the underlying causes of poor health.  Digital Health allows greater opportunity to reach and maintain engagement with more people across a broad spectrum of cultural and socioeconomic groups.

Proactive healthcare, rather than reactive healthcare, requires Preventive Health and Wellness solutions to keep a population healthier and therefore avoid expensive healthcare costs and overburdening the healthcare system. Galen Growth defines the focus area as including both the therapeutic areas of Preventive Health and Wellness, as well as encompassing all ventures in the Corporate Health category and the Wellness cluster

The global digital health ecosystem of ventures focusing on Wellness & Preventive Health is growing at a 5-year CAGR of 6%. Since 2017, 370 new ventures were incorporated, and 87 ventures have either been acquired or have issued a public offering, leaving1385 active, private Digital Health ventures distributed globally. These Digital Health ventures have an unprecedented opportunity to significantly improve awareness, access and affordability to solutions, which now have proof points to change behaviours and reward new habits / improvements

Reducing escalating healthcare costs should be highly attractive to insurers, yet insurance companies have participated in less than 10% of the partnerships with Digital Health ventures in Wellness & Preventive Health. There are significant headwinds to be overcome, such as high drop-out rates, non-transparent reimbursement schemes, low payor confidence in long-term business cases and reluctant healthcare professional engagement

The highest concentration of ventures (26%) in Wellness & Preventive Health is in the United States, where employers typically pay part of the insurance premiums and therefore have financial incentive to offer Corporate Health programs to employees in order to directly reduce insurance premiums and indirectly reduce the cost of lost working hours

SOURCE OF DATA

Unless otherwise stated, all data are exclusively sourced from Galen Growth’s proprietary database HealthTech Alpha – the global leading digital health intelligence and analytics on-demand platform. Presently, HealthTech Alpha tracks more than 160M datapoints and has a coverage exceeding 11,000 digital health ventures across the globe. For more information visit https://www.healthtechalpha.com/

Digital Health ventures mentioned in the report include:

Wysa, deep-medi (딥메디), Peppy, Prenetics, HealthifyMe, Figure8, Balanced, Viome Life Sciences, Xsensio, Phable, Sirka, Ōura, Future Fit, Hydrow, League, Padoa, Forma, iFit, Athelas, Real Therapy, Endel, Soter Analytics, GOQii, Mindcafe (아토머스, Nabta Health, Hello Heart, Sweetch, Castlight Health, Wellbeats, Rhithm, Span Health, Sprout Wellness Solutions, EUDA Life, 23andMe, Owlet, Sharecare, Microba Life Sciences, Advanced Human Imaging, Geninus (지니너스), QD  LASER (QDレーザ), Dialogue, Nervotec, Xenoma, BetterUp, Alice