Healthtech gained traction since the onset of the COVID-19 pandemic two years ago, as the demand for telemedicine and digital healthcare rose. With aging populations, increasing lifestyle diseases given the continuing remote lifestyle, and increasing costs, healthcare providers are innovating and adopting technology to improve the quality of their services and lower their operating expenses.
Digital health start-ups raised $21.30 billion in the first nine months of 2021, 46.9% higher than the $14.30 billion raised in its fiscal 2022. Given the increased adoption of artificial intelligence, machine learning, and data analytics, the health tech market is poised to maintain this growth trajectory in the current year. Merck Global Health Innovation Fund's Bill Taranto said, "In 2022, entrepreneurs and investors will expand telemedicine into more chronic care spaces like cardiology…Overall, expect telehealth players to build out their offerings across the chronic care landscape in a meaningful way in 2022."
