Healthtech is transforming health care through digital health. In record-breaking results, global healthtech has received $51.3billion in investment this year, marking new highs for venture capitalist interest in the sector and identifying London as the fastest growing healthtech hub globally.
The digital healthcare industry is growing rapidly. It’s projected to serve 700% more consumers by 2022. This massive growth is in part due to the increasing popularity of healthtech throughout the corporate world. From meeting the needs of a healthier workforce to reducing costs, digital solutions offer a significant opportunity to be innovative across the entire enterprise.
The US leads globally with $31.9 billion (£23.7bn) in venture capital investment so far this year, with China’s $4.1 billion (£3bn) occupying second place, and the UK coming in close behind at $3.8 billion (£2.8bn). The figures come from London promotional agency London & Partners and database management company Dealroom’s annual report on digital health, telehealth, and healthtech investments.
Healthtech is transforming health care through digital health
The UK and Europe are leading the way with digital health and telehealth innovations. The most significant increase was seen in the UK, where digital health investment has risen by nine times (with US investment increasing by 3.4 times). London is the leading hub for healthtech investment over the last five years, with investment growing 11.1 times faster than in the Bay Area, New York and Boston.
The Golden Triangle of London, Oxford and Cambridge is home to 508 healthtech startups which have been receiving increasing interest from venture capitalists between 2016 and 2021. The majority (408) of these companies are London-based.
Healthtech is not the only sector that’s receiving increased investment from VC’s. The fastest growing subsector in London is remote monitoring and wearables, raising $345 million this year, up from $17 million in 2016. Other fast-growing healthtech subsectors in London include drug development with AI, home test start-ups and digital health insurance.
The growth of the Global tech sector in London is set to continue, with £256.4 million of funding being raised over the first nine months of 2017. This growth is due to innovative tech products, including remote patient monitoring and wearable tech, drawing investment from investors world-wide.
London is one of the biggest technology hubs in the world in healthcare and AI
London is one of the biggest technology hubs in the world with a particularly strong growth in healthcare and AI sectors. The technology world is evolving faster than ever. London-based companies are leading the way in emerging technology sectors by working with top universities, government policies, and attracting top talent to the city. Known for its transparency, London has become a hub for cutting-edge AI development since it received the highest number funding deals in Europe over the past decade.
The Financial Times’ annual list of the Capital’s fastest growing companies puts telehealth, autonomous vehicle testing, connected home technology, and blockchain applications at the top of the list.
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