North America Digital Health Innovation 2023 Year End Report
Highlights from the 2023 North America Digital Health Innovation Report
Despite global funding declines, North American Digital Health ventures navigate challenges to secure funding
- North America saw a 29% decrease YoY in Digital Health venture funding in 2023, while Europe experienced a 42% decrease.
- At the end of 2023, 43% of growth-stage Digital Health ventures in both North America and Europe had secured funding within the past 18 months.
Health Systems emerge as key partners, strengthening the North American Digital Health ecosystem through collaboration.
- Health Systems (including private clinics and hospitals) took the largest share of new partnerships announced with North American-founded Digital Health ventures in 2023.
- The number of partnerships between North American Digital Health ventures and Health Systems increased by 1.2x in 2023 compared to 2022.
AI Adoptions Gains Traction, Research Solutions Cluster Outperforms
- 2% of North American Digital Health ventures leveraged Generative AI (GenAI) technologies in 2023, while an additional 41% used other forms of AI.
- 19% of North American Digital Health ventures leveraging AI were in the Health Management Solutions cluster.
- Research Solutions emerges as the top-funded Digital Health cluster, fuelled by AI. In 2023, it attracted 22% of the total regional funding.
Ventures and Companies Covered in the Report
The “2023 North America Digital Health Innovation Year End Report” includes data on the following companies: