State of Digital Health 2024 Report

State ofDigital Health Global | 2024 recap Global data and analysis on dealmaking, funding,and exits by private market digital health companies Makesmartertech decisions. Our platform will help youdiscover, understand, andmanageyour response to emerging tech. Make confidenttech decisions that drive growth, improve operations, andbeat the competition with CB Insights. ▮▮▮▮IIIITry our platform–free!Sign up for a free trial “Steal” our data. Download the underlying data in this report. If you createany analysis or visualizations with this data, send it ourway and you could be featured in the CBI newsletter.@ us on social – LinkedInX (Twitter)Instagram TL;DRYour rundown ondigital healthin 2024 23% 50%YoY increase inmega-rounds. 42%Of funding goes toAI-focused companies. Drop in digital health dealcount YoY. Median digital healthdeal size—a record high. Mega-rounds ($100M+ deals)increased in 2024 after 2 yearsof decline, with the top 3 dealsfocused on drug discovery anddevelopment. In 2024, AI-focused companiescaptured 42% of digital healthfunding and 31% of deals—bothrecord highs. Digital health funding increasedslightly in 2024, rising by 3% YoY.However, deal count droppedagain in 2024, hitting its lowestannual total (1,225) since 2014.Regionally, Europe saw thesharpest drop in deals, with a29% YoY decline.See the data→ Despite the drop in deal count,the median digital health dealsize jumped to hit $5.3M in 2024. This suggests that selectiveinvestors are concentrating theirresources on companies thatmeet heightened benchmarks inareas like clinical validation,commercial traction, andregulatory readiness. The 5 largest AI-focused digitalhealth deals were spread acrossdiagnostics, drug development,and women's health. Most top deals (7 out of 10) wentto US-based companies, pointingto the region’s position as a hubfor high-value digital healthinvestment. See the data→ See the data→ See the data→ TL;DRState ofDigital Health Digital health deal count falls once again in 2024 Disclosed global equity funding and deal count TL;DRState ofDigital Health Median digital health deal size hits an all-time high in 2024Median digital health deal size by year TL;DRState ofDigital Health AI grows its share of digital health activity TL;DRState ofDigital Health Mega-rounds rebound in 2024, with the top deals in drugdiscovery and development Mega-roundcount (deals worth $100M+) $372MSeries D • 2024-06-26Drug development ContentsState of Digital Health Global Trends10 Investment Trends11Unicorns35Exit Trends40Investors46 Geographic Trends50 US51Silicon Valley59New York63Boston67Asia71China79Japan82Europe86United Kingdom94 Global Trends Investment Trends State of Digital Health|Global Trends|Investment Trends Annual equity funding & deals State of Digital Health|Global Trends|Investment Trends Quarterly equity funding & deals State of Digital Health|Global Trends|Investment Trends Funding & deals by global region in Q4’24 State of Digital Health|Global Trends|Investment Trends Percent of quarterly deals by global region State of Digital Health|Global Trends|Investment Trends Percent of quarterly deals by investor group State of Digital Health|Global Trends|Investment Trends Annual average & median deal size State of Digital Health|Global Trends|Investment Trends Annual median deal size by global region State of Digital Health|Global Trends|Investment Trends Annual median deal size by investor group State of Digital Health|Global Trends|Investment Trends Annual mega-round funding & deals State of Digital Health|Global Trends|Investment Trends Quarterly funding & deals from mega-rounds (deals worth $100m+) State of Digital Health|Global Trends|Investment Trends Mega-round funding & deals by global region in Q4’24 State of Digital Health|Global Trends|Investment Trends Quarterly mega-round deals by global region State of Digital Health|Global Trends|Investment Trends Quarterly mega-rounds as percent of funding State of Digital Health|Global Trends|Investment Trends Annual percent of deals by deal stage State of Digital Health|Global Trends|Investment Trends Regional deal share by deal stage in Q4’24 State of Digital Health|Global Trends|Investment Trends Annual median funding by deal stage Global: Top Series C deals in Q4’24 Unicorns State of Digital Health|Global Trends|Unicorns Quarterly new & total unicorns (private companies valued at $1b+) State of Digital Health|Global Trends|Unicorns New & total unicorns by global region in Q4’24 State of Digital Health|Global Trends|Unicorns Quarterly new unicorns by global region Exit Trends Annual exits Quarterly exits State of Digital Health|Global Trends|Exit Trends Percent of quarterly exits by global region Global: Top M&A exits in Q4’24 Global: Top IPOs in Q4’24 Investors State of Digital Health|Global Trends|Investors Global: Top VCs by company count in Q4’24 State of Digital Health|Global Trends|