A snapshot of support for the healthtech sector by BBVA – #BHHMembersInitiatives
From using artificial intelligence to make early diagnoses or optimise clinical trials to using big data to save lives, the transformative applications of new technologies in medicine promise to be revolutionary. That is why healthtech, startups that put innovation at the service of healthcare, are one of the technology trends of 2022 according to BHH member BBVA Open Innovation.
In the wake of the pandemic, this sector has seen sharp growth in the amount of investment attracted worldwide. In Spain, investment in new technologies in the national healthcare system (the Autonomous Communities, the Ministry of Health and Red.es) reached 783 million euros in 2020, while in 2021 it increased by 16.7%.
Healthcare innovation is also driven by the interest of private investors. In 2021, investment in digital health globally reached an all-time high of $57.2 billion, up 79% from 2020. The healthtech market will reach a value of $426.9 billion in five years, with a growth of 17.4% between 2021 and 2027, according to Global Market Insights. The sector’s startups are already reaping the benefits of this cash injection: the healthtech unicorns (technology companies with a valuation in excess of $1 billion before going public) already number 93 globally.
Healthcare is one of the sectors where digitalisation and technological innovation have the potential to achieve the greatest impact.
With an increasingly diversified and consolidated entrepreneurial ecosystem, an innovation support network that grows every day and an unprecedented injection of liquidity in the healthtech sector, the limits to how technology can revolutionise medicine seem to be those we want to set.
Check out this full-length article by BBVA Open Innovation at this link!