📱 Evolving Mobile Health Market + North America Health Tech 200

Happy Monday 👋

Spanning from tele-consultations to diagnostics, the Mobile Health sector generated $8 billion in revenue for 2022, and its growth trajectory shows no signs of slowing down. In the Health Tech landscape, we spotlight the 2023 North America Health Tech 200, which highlights the region's most promising startups in the health technology sector.

This Week's Topics

• 📱 Mobile Health. Mapping 200+ players across the mobile health landscape
• 📊 Charts Spotlight. Several large European economies lag in telemedicine adoption
• 📈 Digital and Telehealth Index. Up 30% over the past 12 months
• 🏆 North America Health Tech 200. North America's most promising startups working in digital health, biotech, drug discovery, and analytics
• 📖 Annual Health Tech Outlook. 190+ pages of trends, insights, and data
• 💰 Health Tech Deals of the Week. Funding, M&A and IPOs

Don't forget to check out The 2024 Global State of Women's Leadership, published earlier this month, to find deep benchmarks on Women Leaders in Climate Tech, EdTech, HealthTech, and more.

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📱 Mobile Health Landscape

Mobile health offers an array of services, ranging from nutrition to diagnostics, at the patient's fingertips, yielding over $8B in revenue in 2022. While mobile health has historically been utilized to deliver nutrition and fitness solutions, the market has evolved to cater to more diverse needs, such as women's health-related services and teleconsultations via a patient's phone. More recently, several health apps can be used in tandem with wearable devices to present a detailed description of an individual's biomarkers. With the prevalence of smartwatches, this allows users to obtain a more holistic view of their health in tandem with a mobile health app.

With increasing interest in this segment, there has been a flurry of activity over the past month. Headspace (a US-based mental health app) will now provide its services to Meta through its virtual reality glasses, Meta Quest. Talkspace (an online behavioral health company) partnered with Wheel (a virtual health company) to deliver a holistic range of services. However, Flo (a US-based women's health app) was recently hit with a class action lawsuit in Canada for sharing users' data without permission.

📱 Mobile Health - Market Map

📊 Charts Spotlight - Several Large European Economies Lag in Telemedicine Adoption

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Many larger European economies show a lag in telemedicine adoption despite increasing digitalization in the industry. Spain serves as an outlier, with 72% utilization in the population. In France, where over 30% of the population resides in medical deserts, telemedicine offers a crucial solution to bridge the healthcare gap, but telemedicine continues to be under-utilized. Recognizing this, France implemented insurance coverage for digital health services in 2022 and has revised telehealth regulations to incentivize both healthcare providers and patients to engage more actively through digital channels.

📈 Capital Markets - Digital and Telehealth Index

HolonIQ tracks thousands of listed health companies around the world, as well as acquisitions and investment transactions. Soon, we will launch a range of stock indices to track the daily performance of over 10 different sectors across Health Technology.

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HolonIQ's Digital and Telehealth Index increased by approximately 30% over the past year, including major stocks such as Pro Medicus and DexCom, both showing significant growth YoY.

The Digital and Telehealth market has experienced significant growth due to rising demand for convenient healthcare services. Customers prefer digital solutions for remote monitoring, online medical advice, and medication purchases. The COVID pandemic fast-tracked industry expansion, witnessing an increase in online pharmacy usage and the adoption of virtual doctor appointments as a safe and convenient way of attending medical consultations. Virtual Fertility and medication tracking apps are also becoming increasingly popular. As digital technologies continue to advance, the market is poised for further growth and innovation, revolutionizing the way healthcare is delivered and experienced globally.

🏆 North America Health Tech 200

The North America Health Tech 200 is HolonIQ’s annual list of the most promising startups working in digital health, biotech, drug discovery, and analytics in the region.

Start-ups within the North American cohort have seen substantial financial activity over the past month. Fogpharma (a US-based cancer therapeutic developer) raised $145M in Series E funding to further its clinical development and commercialization of its cancer therapeutic. Alumis (a US-based biotech company that develops solutions for autoimmune diseases) raised $259M in Series C funding to initiate phase 3 clinical trials. Moreover, Linus Health (a US digital health company) acquired Aural Analytics ( a clinical-grade speech analysis company), which would allow researchers to understand cognitive impairments better.

📊 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.

💰 Health Tech Deals of the Week

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

Funding

🧬 Tierra Biosciences, a US-based protein engineering platform, secured a $11.4M Series A led by Material Impact to expand the platform's reach and develop predictive AI models.

💊 AbilityPharma, a clinical-stage biopharmaceutical company, raised $7.7M in venture funding to finance its clinical study of antitumor therapy for patients with pancreatic cancer.

💡 Zephyr AI, a US-based health tech company, raised $111M Series A funding led by Revolution Growth, Eli Lilly & Company to create tools and products that support patients and providers.

📱 Cureskin, an Indian dermatology platform, raised a $20M Series B led by HealthQuad to enhance its AI capabilities

M&A

🎗️ Johnson & Johnson acquired Ambrx for $2B, to develop targeted oncology therapeutics using its ADC technology.

🧪 AstraZeneca acquired Amolyt Pharma for $1B to expand its offerings for rare endocrine diseases.

💉 Elevance Health, a US-based health insurance firm, has acquired Paragon Healthcare to enhance the firm's multi-site infusion and specialty pharmacy capabilities.

👵 VITAS, a US-based hospice and palliative care provider, agreed to acquire Covenant Health and Community Services for $85M to expand its geographic footprint in Florida.

🔄 NephroPlus, an Indian company providing treatments for kidney and urological problems, acquired Renal Therapy Solutions to strengthen NephroPlus' position in the market.

IPOs

🧪 Lirum Therapeutics, a US biotech company developing therapeutics for autoimmune diseases and cancer, announced that it plans to raise $25M through an IPO.

🏥 PACS Group, a US post-acute care provider, files to raise $500M through an IPO.

Thank you for reading. Have a great week ahead!
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