Digital Health – CB Insights Research https://www.cbinsights.com/research Mon, 17 Apr 2023 15:50:27 +0000 en-US hourly 1 Analyzing Cigna’s growth strategy: How the healthcare payer is expanding into virtual care, home health, and insurtech https://www.cbinsights.com/research/cigna-strategy-map-investments-partnerships-acquisitions/ Mon, 17 Apr 2023 15:50:27 +0000 https://www.cbinsights.com/research/?p=157434 With a market cap of nearly $80B, Cigna is one of the top 10 largest insurers globally.  Its 3 core businesses — The Cigna Group, Cigna Healthcare, and Evernorth — cater to both payer and provider markets and provide coverage …

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With a market cap of nearly $80B, Cigna is one of the top 10 largest insurers globally

Its 3 core businesses — The Cigna Group, Cigna Healthcare, and Evernorth — cater to both payer and provider markets and provide coverage to 18M medical customers.

Cigna is betting big on technology to provide patients with more precise and personalized care experiences. It is looking at ways to use technology to conveniently deliver care, strengthen its insurance offerings, and do more with patient health data.

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87 companies revolutionizing healthcare data interoperability https://www.cbinsights.com/research/tech-market-map-healthcare-data-interoperability-providers/ Fri, 03 Mar 2023 15:22:50 +0000 https://www.cbinsights.com/research/?p=156262 Healthcare data has been notoriously siloed and incompatible among health systems — and sometimes even among providers in the same system. Thanks to the 21st Century Cures Act, which added specific requirements for data sharing and costly penalties for non-compliance …

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Healthcare data has been notoriously siloed and incompatible among health systems — and sometimes even among providers in the same system.

Thanks to the 21st Century Cures Act, which added specific requirements for data sharing and costly penalties for non-compliance and data blocking, these healthcare data silos are finally collapsing. 

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Analyzing Novartis’ growth strategy: How the pharma giant is investing to improve drug development https://www.cbinsights.com/research/novartis-strategy-map-investments-partnerships-acquisitions/ Tue, 24 Jan 2023 20:51:12 +0000 https://www.cbinsights.com/research/?p=154553 Novartis’ $196B valuation puts it among the top 10 most valuable pharmaceutical companies in the world.  Over the last several years, Novartis has acquired, partnered with, and invested in companies that support its mission to leverage artificial intelligence (AI) and …

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Novartis’ $196B valuation puts it among the top 10 most valuable pharmaceutical companies in the world. 

Over the last several years, Novartis has acquired, partnered with, and invested in companies that support its mission to leverage artificial intelligence (AI) and other technology to improve its processes and create new products.

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State of Digital Health 2022 Report https://www.cbinsights.com/research/report/digital-health-trends-2022/ Tue, 24 Jan 2023 14:00:06 +0000 https://www.cbinsights.com/research/?post_type=report&p=155034 Global digital health funding reached $25.9B in 2022, marking a 57% drop from 2021’s record numbers. Funding declined over 4 consecutive quarters to reach $3.4B in Q4’22, a 5-year low. Deals to the sector also hit a new low after …

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Global digital health funding reached $25.9B in 2022, marking a 57% drop from 2021’s record numbers. Funding declined over 4 consecutive quarters to reach $3.4B in Q4’22, a 5-year low. Deals to the sector also hit a new low after falling 33% YoY. 

US-based companies accounted for 68% of total digital health funding in 2022. The top equity deals for Q4’22 went to US-based DispatchHealth, Komodo Health, and Neumora — all of which raised mega-rounds ($100M+).

Below, check out a handful of highlights from our 149-page, data-driven State of Digital Health 2022 Report. For deeper insights, all the record figures, and a ton of market data, download the full report.

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Other 2022 highlights across the the digital health landscape include:

  • Digital health funding in the US reached $17.7B in 2022 — down 56% YoY. Deals to US-based startups also dropped 26% from 2021, marking a new 5-year low for digital health deal activity.
  • Global exits declined 55% YoY in 2022 to 323. M&A deals declined by 50% YoY to a 5-year low of 305. IPOs dropped 83% while SPACs fell 78% YoY.
  • Q4’22 was the first quarter with no unicorn birth since 2018. Still, 2022 had the second-highest number of unicorn births (21) in the past 5 years.

  • Mega-round ($100M+) funding plummeted by 75% in 2022, accounting for $8.1B of the total digital health funding. Mega-rounds decreased in each consecutive quarter, with only 3 in Q4’22. 
  • Funding to telehealth startups reached $7.5B in 2022, marking a 57% drop YoY. Deals to the space totaled 455, a 5-year low. Q4’22 saw a 30% decline in deals QoQ. 
  • Europe-based digital healthcare companies raised $3B in 2022. Despite a decline in annual deals, Q4’22 saw a 16% increase compared to Q3’22. 

Download the full State of Digital Health  2022 Report to dig into all these trends and more.

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Get the free report for analysis on dealmaking, funding, and exits by private market digital health companies.

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Market Trend Report: Patient-directed scheduling and navigation for healthcare providers https://www.cbinsights.com/research/market-trend-report-patient-directed-scheduling-navigation-healthcare-providers/ Fri, 20 Jan 2023 16:14:55 +0000 https://www.cbinsights.com/research/?p=154799 What is patient-directed scheduling and navigation? Patient-directed scheduling and navigation platforms engage patients in choosing appointments, timing, and providers. Solutions in this category increasingly include conversational artificial intelligence/machine learning and chatbots to gather information, collect pre-appointment paperwork, and provide triage …

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What is patient-directed scheduling and navigation?

Patient-directed scheduling and navigation platforms engage patients in choosing appointments, timing, and providers. Solutions in this category increasingly include conversational artificial intelligence/machine learning and chatbots to gather information, collect pre-appointment paperwork, and provide triage guidance.

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What are Cigna and Elevance Health doing in digital therapeutics? https://www.cbinsights.com/research/cigna-elevance-health-digital-therapeutics-strategy/ Wed, 14 Dec 2022 21:41:48 +0000 https://www.cbinsights.com/research/?p=153324 Digital therapeutics (DTx) — which aim to treat, manage, and prevent diseases and disorders using evidence-based, clinically tested software — are gaining traction as a way to increase access to care while extending providers’ and payers’ ability to monitor patients. …

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Digital therapeutics (DTx) — which aim to treat, manage, and prevent diseases and disorders using evidence-based, clinically tested software — are gaining traction as a way to increase access to care while extending providers’ and payers’ ability to monitor patients.

For payers, the tech represents an opportunity to provide plan members with a 24/7 solution to address ongoing health issues. As more members transition to value-based care models, payers are looking to DTx to support patients in maintaining their health across care settings.

FREE DOWNLOAD: THE COMPLETE DIGITAL HEALTH 150 LIST

Get an Excel file with the entire 2022 Digital Health 150, CB Insights’ annual ranking of the most promising digital health startups in the world.

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The Digital Health 150: The most promising digital health companies of 2022 https://www.cbinsights.com/research/report/digital-health-startups-redefining-healthcare-2022/ Wed, 07 Dec 2022 14:00:58 +0000 https://www.cbinsights.com/research/?post_type=report&p=153209 CB Insights has unveiled the fourth annual Digital Health 150 — a list of 150 of the top private companies transforming healthcare with digital technology.  The 2022 Digital Health 150 cohort has raised approximately $5.6B in aggregate funding across 378 …

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CB Insights has unveiled the fourth annual Digital Health 150 — a list of 150 of the top private companies transforming healthcare with digital technology. 

The 2022 Digital Health 150 cohort has raised approximately $5.6B in aggregate funding across 378 deals since 2017 and includes startups at different investment stages of development, from early-stage companies to well-funded unicorns.

Winners are focusing on everything from reimagining clinical care, to making healthcare more accessible for underserved populations, to leveraging tech like AR/VR to improve surgical training.

These 150 winners were selected from a pool of over 13,000 companies, including applicants and nominees.

They were chosen based on several factors, including data submitted by the companies, proprietary Mosaic scores, company business models and momentum in the market, funding, business relationships, investor profiles, competitive positioning, tech novelty, and more. CB Insights’ research team also reviewed over 3,000 Analyst Briefings submitted by applicants.

FREE DOWNLOAD: THE COMPLETE DIGITAL HEALTH 150 LIST

Get an Excel file with the entire 2022 Digital Health 150, CB Insights’ annual ranking of the most promising digital health startups in the world.



Clients can access the entire Digital Health 150 list and interactive Collection here. (If you don’t have a CB Insights login, create one here.)

Companies are categorized by their primary focus area and client base. Categories in the market map are not mutually exclusive. Please click to enlarge.

Digital Health 150 winners by category

Want to be considered for future rankings? Fill out this initial application form (it’ll take no more than a few minutes). If selected, you’ll be asked to complete our Analyst Briefing Survey so that our analysts can better understand your products, customers, and market traction.

DIGITAL HEALTH 150 COHORT HIGHLIGHTS

  • Few repeat winners: Around 90% of this year’s winning cohort did not appear on last year’s list. This high proportion of new winners partially stems from a flood of M&A and IPO activity in 2021, which saw record exits in the digital health space. Multi-year winners like Xealth, Redox, and Maven Clinic have contended with economic pressures to earn their place once again.
  • Global representation grows: Winners in this year’s Digital Health 150 span 18 countries across 5 continents. A quarter (25%) are headquartered outside of the US — the most in the history of our list. While the US still leads, the UK comes in second with 9 winners, followed by Canada with 5 and Brazil with 3.
  • Focus on diagnostics: The screening, monitoring, & diagnostics category leads with 29 companies, accounting for nearly one-fifth of the Digital Health 150. Notable winners here include mobile skin lesion analytics provider Skin Analytics, vocal biomarkers companies Ellipsis Health and Kintsugi, and concussion monitoring solution Prevent BiometricsThis category is followed by interoperability, data, & analytics (12% of the winners), virtual care (11%), and digital front door & patient engagement (11%).
  • Funding leaders: Since 2017, this year’s Digital Health 150 winners have raised around $5.6B in equity funding across 378 deals (as of 11/16/22). This includes $1.6B raised across 85 deals in 2022 YTD alone. The top 3 companies by all-time total equity funding raised are SWORD Health, Maven Clinic, and Viz.ai.
  • Unicorn slowdown: This year’s list includes only 5 unicorns with a $1B+ valuation, around 3% of the total list. For comparison, last year’s list contained 17. This tracks with a broader drop in new unicorns across sectors in 2022.
  • Top investors: General Catalyst is the most active investor in this year’s Digital Health 150 companies, having backed 13 of this year’s winners since 2017, including Homeward, Equip, Casana, and SWORD Health. Insight Partners is next with 10, followed by 7wire Ventures and Plug and Play Ventures with 6 each.
  • Early-stage innovation: Nearly half of our winners are companies in earlier stages of development (incubator, angel/seed, or Series A). Players here include Vori Health, which provides hybrid (virtual and in-person) musculoskeletal care, and Janus Health, which provides process analysis, process improvement, and intelligent automation tools for revenue cycle management.

Track all the Digital Health 150 Startups in this report and many more on our platform

The 150 private digital health startups working to recreate how healthcare is delivered. Look for The Digital Health 150 in the Collections tab.

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THE DIGITAL HEALTH 150 CLASS OF 2021: WHERE ARE THEY NOW?

Since January 2022, the 2021 Digital Health 150 winners have posted a number of accomplishments, including:

  • More than $2.5B in new equity funding (as of 11/16/22).
  • 9 new mega-rounds ($100M+), including a $325M round to home kidney care provider Somatus.
  • 2 exits: 1 IPO and 1 acquisition.
  • 4 new entrants to the $1B+ unicorn club, including Clarify Health and Transcarent.

Digital Health 150 2021

If you want to learn more about the Digital Health 150 Class of 2021, check out the full list of previous winners.

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Market Trend Report: Remote monitoring for home healthcare delivery https://www.cbinsights.com/research/market-trend-report-remote-monitoring-home-healthcare-delivery/ Thu, 01 Dec 2022 14:31:32 +0000 https://www.cbinsights.com/research/?p=153993 What is remote monitoring? Remote monitoring solutions provide the technology to record ongoing health metrics for patients at home via a combination of apps, wearables, and sensors. The technology passively gathers data that can be transmitted to providers for real-time …

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What is remote monitoring?

Remote monitoring solutions provide the technology to record ongoing health metrics for patients at home via a combination of apps, wearables, and sensors. The technology passively gathers data that can be transmitted to providers for real-time information when addressing care decisions.

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These 96 companies are transforming how healthcare providers use health data https://www.cbinsights.com/research/tech-market-map-data-interoperability-healthcare-providers/ Mon, 21 Nov 2022 20:53:13 +0000 https://www.cbinsights.com/research/?p=152294 Patients are getting care from more sources than ever before — from in-person care at a primary care office or retail clinic, to virtual care through an employer-offered service, to remote monitoring from a chronic care provider. Bringing this data …

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Patients are getting care from more sources than ever before — from in-person care at a primary care office or retail clinic, to virtual care through an employer-offered service, to remote monitoring from a chronic care provider. Bringing this data into the patient record — for all providers to see — is essential to making sure care is effective and safe.

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However, health data has been notoriously siloed and incompatible among health systems — and sometimes even among providers in the same system. Thanks to the 21st Century Cures Act rules taking effect, these data silos are finally collapsing.The result is a whole new ecosystem for health data, driven by vendors that help make the data more transactable, useful, and valuable. 

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Market Trend Report: Virtual care for healthcare providers https://www.cbinsights.com/research/market-trend-report-virtual-care-healthcare-providers/ Thu, 17 Nov 2022 14:36:37 +0000 https://www.cbinsights.com/research/?p=154288 What is virtual care? Virtual care tools include synchronous telehealth and asynchronous and automated solutions, such as chatbot symptom checkers and digital therapeutics. With Covid-19 changing healthcare providers’ view of virtual care, asynchronous virtual care vendors are finding the market …

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What is virtual care?

Virtual care tools include synchronous telehealth and asynchronous and automated solutions, such as chatbot symptom checkers and digital therapeutics.

With Covid-19 changing healthcare providers’ view of virtual care, asynchronous virtual care vendors are finding the market to be more receptive. Asynchronous virtual care tools can drive more engagement, have a greater impact on long-term health, and relieve more pressure from providers than synchronous solutions, such as telehealth.

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How tech is making women’s healthcare more equitable and accessible https://www.cbinsights.com/research/report/tech-shaping-future-womens-health/ Fri, 11 Nov 2022 20:42:34 +0000 https://www.cbinsights.com/research/?post_type=report&p=152724 Women comprise half the population and control most of the healthcare spending in the US, yet the vast majority of modern medicine has been designed around men’s anatomy. It wasn’t until 1993, when the US Congress passed the NIH Revitalization …

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Women comprise half the population and control most of the healthcare spending in the US, yet the vast majority of modern medicine has been designed around men’s anatomy. It wasn’t until 1993, when the US Congress passed the NIH Revitalization Act, that women were required to be included in clinical trials. And even with that regulation in place, studies still show that women are heavily underrepresented in medical research.

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194 companies helping healthcare providers improve senior care https://www.cbinsights.com/research/senior-care-startups-healthcare-providers-market-map/ Fri, 11 Nov 2022 17:49:00 +0000 https://www.cbinsights.com/research/?p=151738 By 2050, the number of people aged 60 and older around the world will double to over 2B.  Today, around 85% of older adults have at least 1 chronic condition, according to the CDC. Further, this group is disproportionately affected …

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By 2050, the number of people aged 60 and older around the world will double to over 2B

Today, around 85% of older adults have at least 1 chronic condition, according to the CDC. Further, this group is disproportionately affected by social isolation and mental health issues. When left untreated, these conditions can contribute to higher hospital admission rates, more expensive treatments, and poorer patient outcomes.

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What healthcare leaders need to know about digital therapeutics for anxiety and depression https://www.cbinsights.com/research/market-trend-report-anxiety-depression-digital-therapeutics-healthcare-leaders/ Wed, 09 Nov 2022 19:15:47 +0000 https://www.cbinsights.com/research/?p=146543 What are anxiety and depression digital therapeutics? The players in the digital therapeutics (DTx) space help treat generalized anxiety and depression. The solutions offered by these companies and startups include digital cognitive behavioral therapy (CBT) apps, virtual reality interventions, biofeedback …

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What are anxiety and depression digital therapeutics?

The players in the digital therapeutics (DTx) space help treat generalized anxiety and depression. The solutions offered by these companies and startups include digital cognitive behavioral therapy (CBT) apps, virtual reality interventions, biofeedback programs, and more.

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Unbundling Diabetes: How tech is transforming the care and management of this disease https://www.cbinsights.com/research/companies-unbundling-diabetes-care-management/ Fri, 28 Oct 2022 20:36:20 +0000 https://www.cbinsights.com/research/?p=150000 For over 100 years, insulin has revolutionized diabetes care by providing patients with a treatment to help manage the disease. But there’s still no cure, and diabetes continues to impact lives across the globe. In fact, by 2030, the number …

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For over 100 years, insulin has revolutionized diabetes care by providing patients with a treatment to help manage the disease.

But there’s still no cure, and diabetes continues to impact lives across the globe. In fact, by 2030, the number of adults (aged 20-79 years) affected in the US is expected to grow to 643M, according to the IDF Diabetes Atlas — up nearly 20% from 2021.

It’s also one of the costliest diseases in the US to treat: 25% of all healthcare dollars are reportedly spent on caring for diabetes patients, making it the second most expensive chronic disease, just behind heart disease.

While technological advancements — from glucose monitors to insulin delivery devices — have been made over time, there is still ample opportunity for companies looking to disrupt the space with more cost-efficient, impactful solutions. Onalabs, for example, is developing a device to measure glucose via sweat, eliminating the need for constant fingerstick testing for diabetic patients. Diasome Pharmaceuticals is working on a pill form of medication for diabetes care.

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Below, we take a look at how companies are unbundling diabetes care, from diagnostics to glucose monitoring devices to educational programs, and more.

Learn more about the space in our Digital Therapeutics Tech Market Map and Digital Therapeutics MVP.

Unbundling diabetes: companies targeting the hardware, devices, and software that help manage the condition

Note: This graphic is not exhaustive of the space. This graphic only includes private companies. Categories are not mutually exclusive.

Category breakdown

Education & Prevention

Companies in this sector provide educational tools that cover medication administration, nutrition, and ongoing care for the management and prevention of diabetic episodes. 

Almost 96M adults in the US have prediabetes, according to the CDC, and 80% of them don’t even know they have it. To proactively address this, common preventative measures that are implemented include weight loss programs, nutrition assistance, and preventative monitoring apps.

  • Using the results of genetic testing as a guide, GB HealthWatch develops personalized prevention and treatment plans to combat the disease.
  • Companies such Enara, iThrive, and Thrive365 provide nutrition and weight loss programs focused on healthy habits to reduce the likelihood of developing diabetes.    

For those with prediabetes as well as type 1 or 2 diabetes, education on lifestyle changes and treatment options has been shown to have a positive impact on clinical outcomes and lower the cost of care. For high-risk individuals, studies have demonstrated that programs related to lifestyle changes reduce the risk of type 2 diabetes onset by more than 50%.

  • Diabetes Daily and Changing Health develop personalized education plans that incorporate coaching assistance to support disease management. 
  • Supporting children and young people with type 1 diabetes, DigiBete provides extensive education and support tools for the management of the disease. 

Diagnostics

Companies in this category look to expedite and enhance diagnosis for diabetic patients through the use of technologies such as artificial intelligence and infrared light. 

  • Digital Diagnostics recently raised $75M in Series B funding. It leverages AI to analyze retinal images to diagnose common diabetic eye ailments. 
  • Glyconics has developed a non-invasive handheld device that uses infrared spectroscopy to diagnose diabetes through changes in fingernail biomarkers.

Glucose Monitoring Devices

Diabetic patients need to monitor their blood glucose levels continuously throughout the day. While this has traditionally been performed via finger stick checks, new technology is being developed to automate this process and make it less invasive. 

  • BeatO offers connected monitoring devices and an app to help diabetic patients monitor their blood glucose levels in real time and provide them with treatment recommendations. The app employs an AI-powered chatbot to deliver ongoing assistance and treatment reminders.  
  • Companies such as DiaMonTech and Vivalyf develop non-invasive glucose monitoring devices that utilize a range of technologies, including fingerprint analysis, optical scanning, and ultrasonic tagging sensors for blood glucose level monitoring.

Insulin Delivery Devices

Companies in this space develop devices that effectively deliver required insulin doses to diabetic patients in a timely manner.

Insulin delivery methods have evolved over the years, shifting from needles and syringes to automated insulin delivery devices. Often requiring a series of injections over the course of the day, patients with diabetes have welcomed technology that makes the process less invasive and more automated.  

  • CeQur and ViCentra offer discreet insulin pumps that can provide on-demand medication delivery for patients.
  • Glytec uses clinically validated algorithms to analyze patient data and optimize dosing at the individual level in a hospital setting. The system provides ongoing, automated dosing adjustments as well as alerts to ensure optimal care.    
  • Companies like Companion Medical, acquired by Medtronic, combine a reusable smart pen with a connected app to monitor injection doses and perform dosing calculations prior to administration.  
  • Solara Medical Supplies provides insulin pump patches that can be synced to glucose monitors to automatically deliver the appropriate dose to patients. Sigi Pump is developing a similar technology that is rechargeable and obviates the need to warm the insulin cartridge prior to use.

Some companies are even working on approaches to speed up the delivery of insulin.

  • Biodel, acquired by Albireo Pharmaceutical, developed a new drug formulation and drug delivery method that expedites the delivery of insulin to the blood.

Closed-Loop Devices

These companies support comprehensive diabetes management through combined glucose monitoring and insulin administration solutions. These closed-loop systems take a single, integrated approach to diabetes management.

  • DreaMed Diabetes and Capillary Biomedical have developed comprehensive management solutions that provide long-term continuous glucose monitoring as well as an algorithm-based insulin delivery system.
  • Diabeloop offers a closed-loop insulin delivery system — which originated from an artificial pancreas research program — that utilizes glucose monitoring data to automatically deliver the proper dose of insulin. 

D2C Consumables

Companies in this category provide testing and treatment supplies directly to consumers.

Testing supplies include glucose monitoring devices and test strips for blood samples that can be analyzed to determine dosing needs. 

  • Startups like GCMedis develop biosensors and test strips for blood glucose monitoring. Its unique strip design supports better infection control.  
  • Australia-based Stripped Supply provides personalized diabetes supplies on a subscription basis. The supplies are automatically reordered in a timely manner to ensure that patients always have what they need.  
  • Online pharmacy Lifepack also offers diabetes supplies via subscription, and they can be reordered conveniently from its app. 
  • 1mg is an online platform that sells diabetes testing devices and supplies. Tata Digital took a majority stake in the company last year.

Digital Therapeutics

Startups in this market utilize evidence-based research to develop software and apps that offer on-demand, personalized treatment options for ongoing diabetes care.

This technology has helped enhance the overall health of diabetic patients and their ability to manage the disease via increased engagement, improved treatment compliance, and modified behaviors.

  • Platforms such as Fitterfly and Omada Health provide digital therapies that support nutrition, fitness, and behavioral changes for improved diabetes management. 

Recent advancements have made these therapies more engaging for children and adults.

  • Sproutel partnered with the Juvenile Diabetes Research Foundation to help upgrade Rufus, an interactive teddy bear that has been supporting pediatric diabetes patients for over 25 years. The latest edition has both a companion app as well as a virtual diabetes care kit option to provide the child and their family with ongoing diabetes care education.
  • Companies like Sidekick Health and Glucoplay develop clinically validated gamified therapies to promote, monitor, and reward healthy behavior modifications.  

Virtual Care

Virtual care became more heavily utilized amid the Covid-19 pandemic, and diabetic patients have benefitted from this service. Many of the major telehealth platforms including AmWell and Teladoc Health have established diabetes-specific virtual care programs. Even major retailers like Walmart have thrown their hats into the ring. Beyond these corporations, there are several companies garnering attention.  

  • Stability Health develops personalized diabetes treatment plans that incorporate virtual care and a personal health coach. It raised more than $7M just a couple of months ago.
  • Vida Health and Ryse Health provide a combination of video conferencing and coaching via a mobile app to support ongoing diabetes care. Since the start of 2021, Vida Health has raised $110M in Series D funding and Rysa Health has raised more than $3M in seed funding.   
  • Lark Health specializes in chronic disease virtual care for both diabetes prevention and care. It offers a coaching program focused on nutrition and activity modifications.

Drug Therapies

Companies in this category are targeting new ways to treat diabetes through the use of medication and drug delivery options.

The difficulty of conducting diabetes management tasks, such as finger pricks for testing and needle injections for medication delivery, has led companies to work toward reducing or eliminating the need for these invasive approaches. 

  • RosVivo Therapeutics is developing a new treatment that uses microRNA technology to reverse the pathology of type 2 diabetes. Its goal is to prevent diabetic patients from experiencing common long-term complications.
  • Seraxis, which recently received $40M in Series C funding from investors including Eli Lilly and Company, is developing a technology to replace pancreatic cells to regulate the glucose levels of patients.  
  • Cour Pharmaceuticals is developing a therapy to combat type 1 diabetes – it reprograms the immune system to prevent the destruction of affected cells in diabetic patients. The company raised $30M at the beginning of September.

Ophthalmology Care

These startups provide care for eye complications that are commonly associated with diabetic patients, most notably diabetic retinopathy, glaucoma, and cataracts.  

Diabetic retinopathy is a leading cause of blindness in American adults. The number of individuals suffering from the disease is projected to reach over 11M by 2030, according to the National Eye Institute.

  • Companies like Oxular are developing long-lasting treatments for diabetic macular edema, which affects 1 in 15 people with diabetes, according to a 2017 study in The Lancet Diabetes & Endocrinology.
  • OccuRx is developing therapeutics to address retinal fibrosis, which is highly prevalent in diabetic patients. The company raised nearly $11M in Series B funding this past September. 
  • Companies like Retinai are developing tools to proactively identify diabetic retinopathy through retinal image analysis as well as personalize treatment plans based on these findings.

Podiatry Care

These startups develop technologies that target either onset prevention or improved care for diabetic foot conditions. 

Studies indicate that between 15% and 25% of diabetic patients will experience diabetic foot ulcers over the course of their lifetime. Research has also revealed that, in the US alone, diabetic foot care adds anywhere from $9B to $13B to the total cost of care for diabetic patients.

  • Podimetrics has developed an intelligent, at-home mat that monitors foot temperature and helps predict the onset of foot ulcer development. Since March 2022, the company has raised $45M in Series C funding and partnered with the American Diabetes Association to prevent foot amputations.  
  • PD Theranostics uses AI-based imaging analysis to support clinical decision-making related to foot ulcers.
  • Treatment-focused Adlore addresses common diabetes complications related to the lack of blood flow to extremities. Its boot technology utilizes heat and electric pulse stimulation to enhance blood flow to ulcers as well as a feedback sensor to monitor treatment and foot function.    

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Market Trend Report: Diabetes digital therapeutics for healthcare leaders https://www.cbinsights.com/research/market-trend-report-diabetes-digital-therapeutics-healthcare/ Wed, 26 Oct 2022 15:47:41 +0000 https://www.cbinsights.com/research/?p=146532 What are diabetes digital therapeutics? Companies in this space develop digital therapeutics (DTx) to help prevent, manage, or treat diabetes (type 1 and type 2). Several startups in this category offer digital apps that leverage evidence-based behavior change strategies, such …

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What are diabetes digital therapeutics?

Companies in this space develop digital therapeutics (DTx) to help prevent, manage, or treat diabetes (type 1 and type 2). Several startups in this category offer digital apps that leverage evidence-based behavior change strategies, such as cognitive behavioral therapy (CBT), to help individuals manage and improve their diet and lifestyle choices. Additionally, some companies pair continuous glucose monitors, insulin delivery systems, and smart scales with their digital apps.

Features & capabilities

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Prioritizing the 12 drug discovery technologies helping pharma and CRO leaders save time and money https://www.cbinsights.com/research/mvp-technology-framework-drug-discovery-pharma-cro-leaders/ Thu, 20 Oct 2022 16:12:27 +0000 https://www.cbinsights.com/research/?p=151251 The drug discovery process is time- and cost-intensive. From discovery to approval, each new drug can take up to 10 years and cost $1B. Pharma companies are applying emerging technology across the entire pharmaceutical value chain to save time and …

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The drug discovery process is time- and cost-intensive. From discovery to approval, each new drug can take up to 10 years and cost $1B.

Pharma companies are applying emerging technology across the entire pharmaceutical value chain to save time and money.

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State of Digital Health Q3’22 Report https://www.cbinsights.com/research/report/digital-health-trends-q3-2022/ Thu, 20 Oct 2022 13:00:53 +0000 https://www.cbinsights.com/research/?post_type=report&p=150663 Global digital health funding reached $4.6B in Q3’22, its lowest total since Q1’19. This marks the 3rd straight quarter with a decline of at least 30% and a 72% decline from the quarterly investment peak seen in Q2’21. The number …

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Global digital health funding reached $4.6B in Q3’22, its lowest total since Q1’19. This marks the 3rd straight quarter with a decline of at least 30% and a 72% decline from the quarterly investment peak seen in Q2’21.

The number of deals dropped for the 4th consecutive quarter to 427, the lowest quarterly total in more than 5 years.

US-based companies raised $3B in Q3’22. From a deals perspective, the US led with 233 deals — more than all the other regions combined. Some of the largest rounds in the US went to companies including ArsenalBio, Alma, and Senda Biosciences.

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Other Q3’22 highlights across the digital health market include:

  • Q3’22 only saw 3 new unicorns (private companies valued at $1B+) — the lowest unicorn birth count since Q2’20.
  • Funding from $100M+ mega-rounds declined for the 3rd consecutive quarter to $1.2B — the lowest level since Q1’19.
  • Mental health tech funding rebounded slightly from Q2’22, reaching $0.7B after 2 straight quarters of decline.
  • Funding to Asia-based companies fell by 18% to $0.9B. However, the region’s 6 IPO exits in Q3’22 represent its 3rd highest quarterly total for the past 5 years. 
  • Last quarter’s top investors, General Catalyst, Lightspeed Venture Partners, ARCH Venture Partners, and Transformation Capital tallied up 20 investments in Q3’22 — down 20% from Q2’22 and 46% from Q1’22.

Download our Q3’22 State of Digital Health to learn more about all these trends and more.

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The hospital of the future: 100 companies reimagining how healthcare is delivered https://www.cbinsights.com/research/digital-healthcare-hospital-innovation/ https://www.cbinsights.com/research/digital-healthcare-hospital-innovation/#respond Fri, 14 Oct 2022 18:35:24 +0000 https://www.cbinsights.com/research/?p=34913 Digitizing the hospital could transform the future of healthcare delivery. Startups are developing technologies that address long-standing inefficiencies in the hospital, including patient flow, revenue cycle management, and care coordination. As hospitals continue to adopt these solutions, they reduce costs …

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Digitizing the hospital could transform the future of healthcare delivery.

Startups are developing technologies that address long-standing inefficiencies in the hospital, including patient flow, revenue cycle management, and care coordination. As hospitals continue to adopt these solutions, they reduce costs and improve patient outcomes.

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Prioritizing the 10 technologies driving member engagement and satisfaction for healthcare payers https://www.cbinsights.com/research/mvp-technology-framework-member-engagement-healthcare-payers/ Fri, 14 Oct 2022 13:00:35 +0000 https://www.cbinsights.com/research/?p=149605 As members increasingly expect more personalized care, healthcare payers are hyper-focused on engaging with their members in more diverse and convenient ways. According to a 2021 survey by Zipari and Ipsos, 93% of payers who made investments in digital solutions …

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As members increasingly expect more personalized care, healthcare payers are hyper-focused on engaging with their members in more diverse and convenient ways.

According to a 2021 survey by Zipari and Ipsos, 93% of payers who made investments in digital solutions for member engagement noted significant membership increases. Additionally, 73% of payers also benefited from a decrease in membership turnover.

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8 tech markets improving value-based care — and the ones healthcare payers should prioritize now https://www.cbinsights.com/research/report/mvp-technology-framework-value-based-care-healthcare-payers/ Mon, 26 Sep 2022 13:00:38 +0000 https://www.cbinsights.com/research/?post_type=report&p=149583 With increasing pressure to reduce spending, healthcare payers are adopting technologies that accommodate value-based contracts and help payers partner with providers to meet the challenges of value-driven reimbursement models. In this report, we evaluate 8 tech markets that healthcare payers …

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With increasing pressure to reduce spending, healthcare payers are adopting technologies that accommodate value-based contracts and help payers partner with providers to meet the challenges of value-driven reimbursement models.

In this report, we evaluate 8 tech markets that healthcare payers should monitor, vet, and prioritize toward this effort, including:

  • Contract management
  • Denials reduction
  • Population health analytics
  • Prior authorization
  • Provider network management
  • Referral management
  • Risk adjustment
  • Utilization management

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220 companies helping healthcare payers improve member engagement and health https://www.cbinsights.com/research/tech-market-map-member-health-management-tech-healthcare-payers/ Mon, 12 Sep 2022 18:32:58 +0000 https://www.cbinsights.com/research/?p=148152 Healthcare payers — like UnitedHealth Group and Anthem — are engaging with their members in more diverse ways to closely monitor and maintain their health and wellness. With care no longer limited to the hospital or office setting thanks to …

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Healthcare payers — like UnitedHealth Group and Anthem — are engaging with their members in more diverse ways to closely monitor and maintain their health and wellness.

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With care no longer limited to the hospital or office setting thanks to technology, members’ expectations have shifted, requiring providers to offer more personalized, prompt care and wellness services.

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Analyzing Optum’s growth strategy: How the health services giant is expanding its reach https://www.cbinsights.com/research/optum-strategy-map-investments-partnerships-acquisitions/ Tue, 06 Sep 2022 17:37:50 +0000 https://www.cbinsights.com/research/?p=148109 Since Optum was formed by UnitedHealth Group in 2011, the company has aggressively expanded beyond pharmacy benefits management and providing care to become a significant player in the broader healthcare space. In Q2’22, Optum’s revenue grew 18% year-over-year to reach …

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Since Optum was formed by UnitedHealth Group in 2011, the company has aggressively expanded beyond pharmacy benefits management and providing care to become a significant player in the broader healthcare space. In Q2’22, Optum’s revenue grew 18% year-over-year to reach $45.1B. 

Through acquisitions, partnerships, and investments, the company has focused on expanding its value-based care arrangements, its geographic reach, and enhancing its technology offerings for its customer base. This includes increasing its presence in areas such as mental health and surgery, as well as remote healthcare tech.

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Unbundling Women’s Health: How femtech is disrupting traditional women’s health & wellness services https://www.cbinsights.com/research/companies-unbundling-womens-health-wellness/ Wed, 31 Aug 2022 20:20:13 +0000 https://www.cbinsights.com/research/?p=147482 From pregnancy and childbirth to menstruation and menopause, women face unique health challenges throughout their lifetimes. They also tend to use more healthcare services and spend more dollars on healthcare than men. Historically, traditional women’s health services have inadequately met …

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From pregnancy and childbirth to menstruation and menopause, women face unique health challenges throughout their lifetimes. They also tend to use more healthcare services and spend more dollars on healthcare than men.

Historically, traditional women’s health services have inadequately met patient needs, especially in stigmatized areas such as sexual health, and challenges related to lack of access, convenience, personalization, and gender bias persist. For example, about 1 in 5 women have had a provider dismiss their concerns, according to a Kaiser Family Foundation (KFF) survey.

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193 companies helping healthcare payers create balanced value-based contracts https://www.cbinsights.com/research/tech-market-map-value-based-care-healthcare-payers/ Tue, 30 Aug 2022 13:30:53 +0000 https://www.cbinsights.com/research/?p=147513 Over the past 2 decades, global spending on healthcare has more than doubled, according to the World Health Organization. Population growth, population aging, and increases in service price and intensity are important factors contributing to this trend.  To rein in …

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Over the past 2 decades, global spending on healthcare has more than doubled, according to the World Health Organization. Population growth, population aging, and increases in service price and intensity are important factors contributing to this trend. 

To rein in spending, policymakers are realigning care provision around value-based care, which restructures payment incentives based on quality outcomes and total cost of care instead of volume. While policy is driving the transition, other healthcare stakeholders, such as healthcare payers and providers, are enacting sweeping changes to their operating models to put value-based care into practice. 

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Analyzing Microsoft’s growth strategy: How the OS titan is building a new foundation for healthcare https://www.cbinsights.com/research/microsoft-strategy-map-acquisitions-investments-partnerships/ Wed, 17 Aug 2022 17:17:44 +0000 https://www.cbinsights.com/research/?p=147506 Microsoft is one of the biggest software companies in the world, with a market cap sitting around $2T. While its main products are the Windows OS, productivity software, and the Azure cloud, it’s slowly been increasing its presence in healthcare. …

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Microsoft is one of the biggest software companies in the world, with a market cap sitting around $2T. While its main products are the Windows OS, productivity software, and the Azure cloud, it’s slowly been increasing its presence in healthcare.

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Get the free report for analysis on dealmaking, funding, and exits by private market digital health companies.

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