Asia Pacific Digital Health Innovation 2023 Year End 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:
HealthShare, UNIMED (同心智医), Lunit (루닛), HaploX (海普洛斯), JNPMEDI (제이앤피메디), PharmEasy, XtalPi (晶泰科技), GeneMind Biosciences (真迈生物), KAKEHASHI (カケハシ), Saluda Medical, MiRXES (觅瑞早筛) , Holmusk, Halodoc, Mamaearth, TandemAI, Bioyond (奔曜科技), Genome Insight (지놈인사이트테크놀로지) , Doctor Anywhere, Volpara Health, GP2U Telehealth, MyHealth1st, PREVENT (PREVENT), MiRTel (ミルテル), ETAO Cloud (医道云), Coreline Soft (코어라인소프트), Yaoshibang (药师帮), Welby (Welby), Blue M Tec (블루엠텍과), Annalise.ai, Homage, AstraZeneca, Roche, Merck, Illumina, Kangbuk Samsung Hospital, Sumitomo Life Insurance, Medical Net (メディカルネット), Nippon Life, Yuyu Pharma, Mass General Brigham, Singlife, TPG, ADQ, Lilly, Wellington Management, Astra International, Carmignac, Fidelity International, Goldman Sachs