HealthTech startups use technology to provide better health services and products to consumers and healthcare professionals. These include but not limited to developing better diagnostic methods, medicines, treatments, personalised healthcare, and health & wellness monitoring.
François Paillier, Co-founder & CEO of CircaGene argues that the pandemic created an awareness of the critical importance of healthtech startups, and he seems to be on point. The health-tech industry became one of the most important sectors with the impact of the COVID-19 pandemic, and the global healthtech funding reached over $16 billion in 2020, according to Silicon Valley Bank’s Healthtech Report 2020. Grail, Alto Pharmacy, Amwell, Karius, and KRY are some of the most funded companies around the globe, each exceeding $150 million in investments only in 2020.
The Association of British HealthTech Industries (ABHI) reports that 4,060 healthtech companies employ 131,800 people in the UK, and the industry has £25.6 billion annual turnover volume. The industry seems to promise future growth as the COVID-19 pandemic pushed a lot of companies to innovate and adapt faster, and companies like Deloitte opening healthtech innovation hubs around the UK.
With Babylon Health leading the way in the most funds raised since its foundation (£517.7 million), healthtech startups have seen a significant rise in investments in the UK in 2020. Some of the other leading startups are Cera, Huma, and Push Doctor, each has raised more than £40 million since their foundation. A couple of the other health-tech startups to watch are Pando and Elder.
Explore the top HealthTech startups and companies in London and the UK! Discover the main services and highlights of the HealthTech industry.