Our 2022 Healthtech Unicorns Insight Paper focuses on some of the most valuable healthtech companies in the world valued at US$1B+. A unicorn startup or unicorn company is a private company with a valuation of over $1B.
According to CB Insights, nearly 1 in 5 of the world’s 800+ unicorns (private companies valued at $1B+) are fintech startups while Healthtech has 70 unicorns, making it the third largest ‘unicorn-producing’ sector. As of 2019, healthtech represented a global market of approximately $350B, with many opportunities to compete across multiple subcategories.
A report by Rock Health incorporates insights drawn from a survey of digital health startups as well as established industry representatives. Their findings show that 34% of startups began as B2C and 61% of those companies ultimately pivoted to B2B or B2B2C.
About 49% of the digital health companies fall into the care-delivery category —a $157B market (as of 2019) comprising 45% of the overall digital health market. Companies in this category either provide novel therapeutic solutions enabled by digital technologies or use technology to broaden patient access to healthcare solutions, for example our portfolio companies; InstantRad Inc (offering Teleradiology platform) & online pharmacy Lifestores Healthcare (supplying drugs and hypertension support to patients).
Digital health is the future of healthcare. Budding healthtech companies in Africa need radical solutions with innovative thought to break the current impasse in building African healthtech unicorns.
Get more insights from our healthtech unicorns report here