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πŸ’‘ AI in Health + MENA Health Tech 50

Artificial intelligence is quickly revolutionizing the healthcare sector, with a wide range of applications emerging in different fields. Recent advancements are bolstering this trajectory.

Hello πŸ‘‹

AI is rapidly transforming the healthcare landscape, with diverse applications emerging across various domains, and recent developments support this trend. In the Health Tech landscape, we revisit the 2023 Middle East North and Africa Health Tech 50, which highlights the region's most promising startups in the health technology sector.

This Week's Topics

πŸ’‘ Momentum in AI in Health. AI integration gained considerable momentum over the past month
πŸ“Š Charts Spotlight. An estimated 165M adolescents suffer from a mental health disorder
πŸ“ˆ China Health Index. Ends flat in the last three months
πŸ† Middle East and North Africa Health Tech 50. Middle East and North Africa's most promising startups working in digital health, biotech, drug discovery, and analytics
πŸ“– Annual Health Tech Outlook. 190+ pages of trends, insights, and data
πŸ’° Health Tech Deals of the Week. Funding and M&A

Don't forget to check out the 2024 Global Health Tech Outlook and sign up for our Daily Newsletters, Chart of the Day, and Impact Capital Markets. For unlimited access to over one million charts, request a demo.

πŸ’‘ Momentum in AI in Health

AI is rapidly transforming the healthcare landscape, with diverse applications emerging, and recent developments support this trend. Google Cloud's partnerships with both startups and established players are an example. Collaborations with PathAI in digital pathology and TetraScience in scientific data analysis showcase the potential of cloud infrastructure to accelerate drug development and research. Beyond drug discovery, AI is also making inroads into patient care. Moderna's integration of generative AI, including ChatGPT Enterprise, demonstrates its potential to streamline internal processes and augment employee roles. Similarly, Elora leverages AI to monitor babies well-being, offering insights for parents and supporting early childhood development. Medical imaging is another area experiencing the transformative power of AI. Bayer's partnership with Google Cloud aims to leverage AI and cloud computing to develop new technologies that assist radiologists, potentially improving analysis accuracy and reducing workload.

Looking ahead, AI's potential to revolutionize drug research is undeniable. ETH Zurich's development of an AI-powered process for generating active pharmaceutical ingredients and Novartis' collaboration with Deciphex on lesion detection tools across species highlight the immense possibilities in this domain. However, it is crucial to acknowledge the importance of ethical considerations throughout the development and implementation of AI in healthcare. As technology evolves, adhering to ethical frameworks and regulatory guidelines is paramount to ensure responsible and beneficial applications within the healthcare ecosystem.

πŸ“Š Charts Spotlight - Estimated 165M adolescents suffer from a mental health disorder

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Globally, adolescents are grappling with a significant mental health burden. In 2020, an estimated 13% of the 1.2B youth aged 10-19 were affected by a mental disorder, totaling roughly 86M adolescents aged 15-19 and 80M aged 10-14. Notably, boys aged 10-14 seem to face higher vulnerability, with about 44.6M affected compared to 34.8M girls, although this gap lessens in the 15-19 age group.

Several factors contribute to these challenges. Puberty brings about biological and hormonal changes that can lead to emotional instability and increase susceptibility to mental health disorders. Academic pressures further exacerbate these issues, causing stress, anxiety, and feelings of inadequacy among adolescents striving for academic success. Navigating social development, including relationships, peer pressure, and self-identity formation, can lead to feelings of isolation and depression. Additionally, the widespread use of social media exposes adolescents to cyberbullying, unrealistic comparisons, and negative impacts on self-esteem, worsening their mental health struggles. Given the severity of the situation, prioritizing mental health support for adolescents is crucial. Early intervention and access to appropriate services can significantly enhance their well-being and long-term outcomes.

πŸ“ˆ Capital Markets - China Health Index Ends Flat

HolonIQ tracks hundreds of listed health companies worldwide, as well as acquisitions and investment transactions. Our Impact Capital Markets newsletter tracks over 60 impact stock indices, including climate tech, emerging economies, and over 50 indices tracking healthcare innovation and education technology. Subscribe to Impact Capital Markets for data-driven insights on capital powering impact.

HolonIQ’s China Healthcare index experienced fluctuations over the past three months, with an overall positive trend in the first two months and a downturn in A pril. Despite this volatility, the sector has rebounded by 1% from the decline observed in mid-April. These fluctuations have been attributed to various factors, including strains from the global health crisis, economic disruptions, and policy challenges. Economic uncertainties, supply chain disruptions, and trade tensions have impacted the availability and affordability of essential medical supplies, medications, and equipment.

Key stocks in the healthcare index, including BeiGene, WuXi AppTec, and Aier Eye Hospital Group, have demonstrated diverse trends during this period. While BeiGene ($18B MCap) showed growth of 6%, WuXi AppTec (18B MCap) experienced a decline of -7%, coinciding with the company's assertion of no ties to China's military and its commitment to operations free of national security risks. This decline had a notable impact on the broader biotech and pharmaceutical sectors, resulting in a collective loss of approximately $17 billion in market capitalization. Despite these challenges, the government is actively taking measures to stimulate growth in the healthcare industry. These efforts include investments in infrastructure, extending healthcare coverage, and promoting innovation. Such initiatives underscore a strong commitment to overcoming obstacles and achieving sustainable advancement in healthcare.

πŸ† Middle East and North Africa Health Tech 50

The 2023 Middle East and North Africa Health Tech 50 is HolonIQ’s annual list of the region's most promising startups in digital health, biotech, drug discovery, and analytics.

Among the cohort members, AEYE Health (an Israel-based diagnostic screening platform) stood out with its FDA approval. AEYE Health secured an FDA clearance for a fully autonomous AI system that diagnoses diabetic retinopathy using retinal images captured by a handheld camera.

πŸ“Š 2024 Global Health Tech Outlook

HolonIQ's annual analysis of the evolving Health Tech landscape offers over 190 pages of in-depth insights on market data, investments, strategic shifts, and trends in healthcare services, pharmaceuticals, biotechnology, and medical hardware. Download the extract or purchase the full report.

πŸ’° Health Tech Deals of the Week

HolonIQ actively monitors and tracks deals in the health industry across all regions of the world. Subscribe to our daily Impact Capital Markets newsletter to peruse the top deals for each day.


πŸ₯ PharmEasy, an Indian online pharmacy, raised $216M in Venture funding led by Manipal Education and Medical Group.

πŸ’Š Reunion Neurosciences, a Canadian clinical biopharma specializing in mental health conditions, raised $103M in Series A funding from MPM BioImpact and Novo Holdings to fund its clinical trials.

πŸ’» Transcarent, a US-based healthcare platform, raised $126M in Series D funding led by General Catalyst and 7wireVenture to expand its operations.

🧬 Karius, a US-based genomic diagnostics provider, raised $100M in Series C funding led by Khosla Ventures to assist the company in distributing the test outside healthcare centers and funding their research efforts into AI.


πŸ’° MBK Partners, a South Korea-based private equity firm, has acquired a stake in Geo-Young, a wholesaler/distributor of medical devices and pharmaceuticals, for $1.4B.

πŸ’Š Ono Pharmaceutical, a Japanese pharmaceutical firm, acquired Deciphera for $2.4B to expand its operations to the US and Europe.

🫁 Novartis, a Swiss pharmaceutical conglomerate, acquired Mariana for $1.8B to expand its lung cancer treatment offerings.

πŸ”ͺ Medline, an Indian medical supplies distributor, acquired Ecolab's surgical solutions segment for $950M, expanding the company's offering into surgical supplies.

Thank you for reading. Have a great week ahead!
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