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The Asia HealthTech Market Reached $6.3 billion in 2018 and Continues to Grow According to Galen Growth Asia
January 11, 2019 News

Note from DTA Editor: HealthTech is a massive market but more importantly, it’s an area where new technology is saving lives and improving the health of nations. However, with the introductions of technology-driven health solutions comes much higher stakes when things go wrong. Regulation, as we see with drugs, will surely have an impact on this sector as it matures. We have seen examples of HealthTech going wrong and as startups try to get into this space, regulation may become the biggest barrier to entry and rightly so.

Galen Growth Asia is the leading exclusive HealthTech research, analytics and advisory firm in Asia Pac serving Fortune 500 companies. Located in Singapore, Galen Growth Asia has been tracking funding in Asia for the past 5 years, and 2018 breaks all record, a testament to the exponential growth speed in Asia. Some of the key indices throughout the year include:

  • Asia HealthTech closed the year at a record-breaking US$6.3B, confirming it as the 2nd largest digital health ecosystem in the world.
  • Significantly exceeding 2017 in dollar size, and doubling 2016, the Asia ecosystem is fast catching the US;
  • The first half of 2018 saw funding of $3.3 billion in just 107 deals, over half a billion more than the total funding of 2017;
  • Deal values have now grown for six consecutive quarters;
  • China is the leader in terms of the share of deals across the HealthTech ecosystem;
  • India, China, Singapore, Japan, and Australia are some of the leaders in the HealthTech Startup ecosystem share;
  • Distribution of funding grew 14% beyond what was recorded at the close of 2017.

The drivers contributing to this year’s growth in total funding can be attributed to investor appetite for Growth stage ventures, which continues to strengthen. This sentiment is underpinned by a more permissive policy and regulatory environment across a number of key markets in the region, including China, India and Singapore, and growing involvement by strategics such as pharmacos.

Galen Growth Asia strives in building Asia’s digital health ecosystem by working with HealthTech innovators and estimates the ecosystem to be over 4500 HealthTech ventures across Asia worth $75 billion with these continuous growth indices.

HealthTech Alpha, the analytics platform of Galen Growth Asia, remains the only database and analytics provider for digital health in Asia. Delivering accurate and regularly updated information to investors, collaborators, startups, and researchers, it is the only most comprehensive source, vital to monitor the pulse of the ecosystem.

Julien de Salaberry, CEO & Founder of Galen Growth Asia said: “In January of last year we reported a record-breaking year for HealthTech in Asia Pac. 2018 is no different with a massive $6.3B invested and all indicators promising a continued trajectory in 2019 representing a fantastic opportunity for investors, startups, industry and above all patients. We, at Galen Growth Asia, expect the Asia Pac HealthTech ecosystem momentum to continue to build driven by the 2018 key drivers, although a number of potential headwinds should be borne in mind.”

 

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