The Latest Healthtech Industry Statistics Explained
Global healthtech venture funding hit a record of $14.8 billion in 2020.
The statistic “Global healthtech venture funding hit a record of $14.8 billion in 2020” indicates that the amount of funding raised by health technology companies worldwide reached an all-time high during the year 2020. This suggests a significant increase in investor interest and confidence in the health tech sector, likely driven by factors such as the COVID-19 pandemic highlighting the importance of healthcare innovation and digital health solutions. The record funding amount of $14.8 billion reflects a strong market demand for technologies aimed at improving healthcare delivery, patient outcomes, and overall health system efficiency, signaling a positive outlook for the health tech industry.
More than 500,000 health apps were available worldwide in 2020.
The statistic indicates that in 2020, there were over 500,000 health apps accessible worldwide. This highlights the significant growth and popularity of health-related applications in recent years, catering to various aspects of well-being and healthcare management. The widespread availability of these apps suggests a strong demand and interest in utilizing technology to monitor and improve individual health and fitness. The vast number of health apps available also emphasizes the diverse options and functionalities users have when seeking tools to support their health goals and needs.
The global telemedicine market size was valued at $61.40 billion, in 2019, and is projected to reach $559.52 billion by 2027.
The statistic indicates that the global telemedicine market experienced significant growth, with a value of $61.40 billion in 2019 and is projected to reach $559.52 billion by 2027. This rapid growth is driven by various factors such as the increasing adoption of telehealth services, advancements in technology, and the growing demand for remote healthcare solutions, especially in light of the COVID-19 pandemic. The expanding market size suggests a shift towards more digital and remote healthcare delivery models, offering significant opportunities for healthcare providers, technology companies, and patients to access and deliver medical services efficiently and conveniently.
The market share for digital diabetes solutions is projected to reach $1.5 billion by 2024.
The statistic indicates that the market share for digital diabetes solutions is expected to grow significantly, reaching a total value of $1.5 billion by the year 2024. This projection suggests a strong and growing demand for digital solutions aimed at managing and treating diabetes, a chronic health condition affecting millions of people worldwide. The rise in market share reflects an increasing reliance on technology and innovative healthcare solutions within the diabetes management space, demonstrating the potential for digital tools to revolutionize the way individuals monitor and manage their diabetes.
The use of AI in healthcare is predicted to reach $34 billion by 2025.
The statistic indicates that the utilization of artificial intelligence (AI) technology in the healthcare industry is projected to experience significant growth, with the market size expected to soar to $34 billion by the year 2025. This prediction suggests a rising trend in the adoption of AI solutions within healthcare, pointing towards the increasing recognition of AI’s potential to revolutionize various aspects of healthcare delivery, such as improving diagnostics, treatment planning, operational efficiency, and patient outcomes. The substantial investment in AI within healthcare reflects a growing confidence in the capabilities of this technology to positively impact the industry by enhancing decision-making processes, streamlining workflows, and ultimately leading to more effective and personalized patient care.
Around 60% of US healthcare providers have already adopted telehealth during the COVID-19 pandemic.
The statistic indicates that approximately 60% of healthcare providers in the United States have embraced telehealth services amidst the COVID-19 pandemic, likely due to the need to continue providing patient care while ensuring safety and minimizing the spread of the virus. This surge in telehealth adoption demonstrates a significant shift in the delivery of healthcare services, highlighting the increasing reliance on technology to maintain patient-provider connections and deliver care remotely. Telehealth offers a convenient and accessible alternative to traditional in-person visits, allowing healthcare providers to reach a broader population and potentially improve healthcare outcomes during these unprecedented times.
Healthtech investments soared to an all-time high of $21.6 billion across 1,372 deals globally in 2020.
The statistic indicates that investments in healthtech companies reached a record-breaking total of $21.6 billion through 1,372 deals on a global scale in the year 2020. This surge in investment highlights the growing significance and interest in the health technology sector among investors and signifies a strong belief in the potential for innovation and growth within this industry. The substantial funding injected into healthtech companies indicates a strong vote of confidence in the capabilities of these companies to drive advancements in healthcare, digital health solutions, and medical technologies, potentially leading to significant improvements in healthcare delivery, patient outcomes, and overall wellness in the future.
The market for virtual health and wellness consultations is expected to hit $50 billion by 2021.
This statistic indicates the projected size of the market for virtual health and wellness consultations, estimating that it will reach $50 billion by the year 2021. This suggests a significant growth and demand for remote healthcare services, likely driven by factors such as technological advancements, convenience for consumers, and the increasing importance placed on health and wellness. As more people seek access to healthcare services from the comfort of their own homes, the virtual health and wellness industry is predicted to experience substantial expansion in the near future, presenting opportunities for businesses operating in this space.
The predicted compound annual growth rate (CAGR) for the healthtech market from 2021 to 2028 is 37.1%.
The predicted compound annual growth rate (CAGR) of 37.1% for the healthtech market from 2021 to 2028 implies that the market is expected to experience significant growth over that time period. This statistic suggests that, on average, the market size is projected to increase by 37.1% every year from 2021 to 2028. The CAGR takes into account the compounding effect of growth year over year, providing a more accurate representation of the overall growth trend in the healthtech industry. This high CAGR indicates a promising outlook for the healthtech sector and reflects strong potential for expansion and innovation within the market.
The top 10 percent of healthtech companies account for nearly 70 percent of total sector revenue.
This statistic highlights the substantial concentration of revenue within the healthtech sector, indicating that a small number of companies are capturing a disproportionately large share of the market. Specifically, the top 10 percent of healthtech companies collectively generate nearly 70 percent of the sector’s total revenue. This level of revenue concentration suggests that these top companies possess significant market power and competitive advantages, potentially resulting in challenges for smaller or emerging companies to compete effectively. As such, understanding the strategies and factors contributing to the success of these top companies could provide valuable insights for stakeholders within the healthtech industry.
The projected growth rate for the mobile medical apps market is 4.6% during 2021-2028.
The statistic indicates that the mobile medical apps market is estimated to experience a projected growth rate of 4.6% annually between 2021 and 2028. This growth rate suggests that the demand for mobile medical apps, which are applications designed to improve healthcare delivery and patient outcomes, is expected to steadily increase over the given time period. Factors driving this growth may include advancements in technology, increasing digital healthcare adoption, and a growing awareness of the benefits of mobile health solutions. The statistic provides valuable insights for stakeholders in the healthcare industry, including developers, healthcare providers, and investors, to make informed decisions and strategic planning regarding the mobile medical apps market.
The patient engagement solution market is expected to reach $16.39 billion by 2020.
The statistic that the patient engagement solution market is expected to reach $16.39 billion by 2020 indicates the projected worth of the market for technologies and strategies aimed at involving patients in their healthcare. This substantial market value suggests a growing recognition of the importance of actively engaging patients in their own care to improve outcomes, satisfaction, and overall healthcare efficiency. The figure reflects the increasing adoption of digital platforms, communication tools, and personalized approaches in healthcare delivery, all of which contribute to enhancing patient involvement and empowerment. This trend highlights a shift towards patient-centered care and heightened focus on promoting collaboration between patients and healthcare providers for better health outcomes.
The healthcare IoT market will reach $158.07 billion by 2022.
The statistic that the healthcare IoT market is projected to reach $158.07 billion by 2022 represents the estimated total value of the market involving the integration of internet of things (IoT) technologies within the healthcare industry. This figure indicates the anticipated significant growth and adoption of IoT solutions in various aspects of healthcare, such as remote monitoring, medical device connectivity, wearable devices, and data analytics. This impressive market projection suggests a growing recognition of the potential benefits that IoT can offer in improving healthcare services, enhancing patient outcomes, increasing operational efficiency, and driving innovation across the healthcare sector.
Over 3.7 million robot-assisted medical procedures were performed in 2020.
This statistic indicates that the utilization of robot-assisted technology in the medical field has been on the rise, with over 3.7 million procedures being conducted in 2020. Robot-assisted medical procedures involve the use of advanced robotic systems to assist surgeons during surgeries or medical treatments, offering benefits such as precision, minimally invasive techniques, and decreased risk of errors. The significant number of procedures performed using this technology highlights its growing acceptance and adoption within the healthcare industry. This trend suggests that robot-assisted procedures are becoming increasingly common and may continue to play a significant role in modern healthcare practices.
96% of U.S. hospitals had installed certified health IT by 2017.
The statistic that 96% of U.S. hospitals had installed certified health IT by 2017 indicates a high level of adoption of technology in the healthcare sector. Health IT, such as electronic health records (EHR) systems, plays a crucial role in improving patient care, enhancing coordination among healthcare providers, and increasing efficiency in healthcare delivery. The widespread adoption of certified health IT suggests that U.S. hospitals recognize the importance of leveraging technology to support patient care and clinical decision-making. This statistic highlights the significant progress made in integrating technology into healthcare settings and signifies a shift towards a more data-driven and interconnected healthcare system.
72% of adults use at least one form of digital health technology in 2020.
In 2020, 72% of adults were reported to have utilized at least one form of digital health technology. This statistic suggests a significant trend in the adoption of digital tools for managing healthcare needs among the adult population. The use of digital health technology can encompass various forms, such as health and fitness apps, wearable devices, telemedicine services, online health resources, and electronic health records. This high percentage indicates a widespread acceptance and incorporation of digital solutions in personal healthcare management, potentially leading to improved access to healthcare services, enhanced wellness monitoring, and better communication with healthcare providers.
Conclusion
Overall, the healthtech industry continues to show promising growth and innovation as evidenced by the statistics presented. With the increasing adoption of digital health solutions and the rise of telemedicine, the future looks bright for improving healthcare delivery and outcomes through technology. As the industry continues to evolve, it will be important for stakeholders to stay informed and adapt to the changing landscape in order to maximize the potential benefits for patients and providers alike.
References
0. – https://www.www.forbes.com
1. – https://www.rockhealth.com
2. – https://www.dashboard.healthit.gov
3. – https://www.www.healthcareitnews.com
4. – https://www.www.marketsandmarkets.com
5. – https://www.hitconsultant.net
6. – https://www.www.alliedmarketresearch.com
7. – https://www.news.crunchbase.com
8. – https://www.www.mckinsey.com
9. – https://www.www.grandviewresearch.com
10. – https://www.www.cnbc.com
11. – https://www.www.fortunebusinessinsights.com
12. – https://www.www.healthtechmagazines.com
13. – https://www.healthtechmagazine.net
