15 Fast Growing Startups in Healthcare to Watch
The US is one of those developed countries in the world that spends a high share of its GDP on healthcare. As per Statista, the U.S is expected to spend 18 percent of its GDP on healthcare in the year 2020.
This is way more than any other developed country in the world. Moreover, the recent break of COVID-19 has made the world more conscious of their health.
Statistics suggest that 15% of users (age 18-29) and 8% for users (age 30-49) use a health application. This has paved the path for the establishment of various healthcare startups around the world.
Business owners and entrepreneurs are looking for new ideas for the inception of their medical startups.
Most of them are focussed on building advanced telemedicine apps for serving customers at their homes due to safety issues. Some other factors that have led to the establishment of new medical firms are:
- Exploiting the new technology
- Improved patient care
- Seamless and secure data sharing
- On-demand services
If you are looking forward to building one of the best health tech startups, go through this comprehensive list of startups worldwide in the healthcare sector to get some ideas.
Overview of startups
Here we bring you the best startups in healthcare sector that have been making news since their establishment.
1. Covera Health – New York – 2017
|Description||Inaccurate diagnosis of health issues can result in wastage of both money and time. This is what led to the inception of Covera Health. |
This startup in medical field harnesses the power of analytics to provide optimum care to the patients while reducing cost.
Medical care based on analytics is also one of the promising healthcare trends for startups.
|Market positioning, Key Features, Key Customers||Around 12% of Americans suffer a diagnostic error every year. |
Keeping this in mind, Covera Health, one of the budding startups, developed a health tech solution.
Their Radiology Centers of Excellence Program effectively analyzes user data.
Based on the analysis, it allows radiologists to improve the accuracy of their diagnosis.
It also pairs users with radiologists. Hence, it is best for both of them.
|Fundings||Covera Health is one of those healthcare startups that has raised around $32 million in two funding rounds.|
2. H1 – New York – 2017
|Description||H1 is one of the powerful online platforms that help medical startups to find the right professionals. |
The online platform enables startups in healthcare sector to access a large database of medical and biomedical professionals, customers, firms, etc.
This helps you establish a link with the right people and customers you need.
|Market positioning, Key Features, Key Customers||With the H1 platform, you can easily analyze the profile of the healthcare professional. |
Healthcare spinoffs and startups like H1 offer firms and individuals a deep insight into the working record of the professionals before getting in touch.
One can also filter the results based on CPT, ICD, or HCPCS code.
|Fundings||All these factors and the funding of $12.9 million make H1 one of the potential medical startups of 2020.|
3. Embleema – New York – 2017
|Description||Embleema is a one-stop solution for both patients and doctors for acquiring data. |
Counted among some of the highest potential healthcare startups, Embleema helps users to share their medical data on the platform for analysis.
Moreover, it also allows healthcare professionals to analyze data with ease.
|Market positioning, Key Features, Key Customers||The intuitive apps of Embleema allow users to access and upload all their health data in one place. |
This continuous updating of health data helps health experts get valuable insights.
They can also find the appropriate treatment based on that.
Startups like Embleema also provide compensation for sharing medical data.
|Fundings||So far, Embleema has raised around $3.7 million and stands among the best health tech startups.|
4. Empiric Health – Utah – 2017
|Description||Empiric Health is a startup in medical field that harnesses the power of AI and machine learning. |
The Empiric Analytics Suite from this brilliant startup compares data in a detailed way and provides cutting-edge medical solutions.
|Market positioning, Key Features, Key Customers||The suite divides the data into cohorts and then compares them to find the best surgical solutions for the physicians. |
Moreover, it also provides a visualization of the data.
All these factors combined in a single solution can help you boost performance, lower cost, and also enhance patient health.
Startups like Empiric health can be harnessed by both hospitals and healthcare systems.
Empiric Health has also partnered with SCL Health to develop advanced surgical methods while reducing cost.
|Fundings||Empiric Health has raised $3 million for the development and improvement of its services. |
And this is what makes it one of the best startups in the medical sector.
5. Galileo – New York – 2018
|Description||One of the ingenious startups in the healthcare sector is Galileo. |
It focuses on providing the individuals instant medical support no matter where they are.
The startup lays down a platform that enables patients to interact with specialized doctors in the medical field.
|Market positioning, Key Features, Key Customers||The newly founded firm offers health tech services through its mobile app. |
You can simply fill a questionnaire, and the doctors will be at your service in no time. You will get specialized doctors.
Moreover, you can also keep up with chronic care and prescription renewal.
These features make Galileo one of the prime startups of the healthcare sector. And other than Galieleo, there are many other firms that have shaken the primary care market.
|Fundings||It has not raised any funds so far but is counted as a promising startup in the medical field.|
6. Prognos – New York – 2017
|Description||Prognos is a state of the art startup in the medical field. The Prognos platform leverages the power of AI to gather and interpret data.|
|Market positioning, Key Features, Key Customers||The Prognos platform is highly demanding as it has the largest registry of clinical records. |
Prognos is one of those startups in health tech that analyzes clinical data from multiple sources.
Based on that, it suggests the best treatment methods at the earliest possible time.
Moreover, like all other startups in the healthcare sector, it is backed by a HIPAA compliant infrastructure.
The Prognos platform is best for doctors and healthcare institutions.
|Fundings||Prognos has been acquired by Livongo that has raised around $235 million so far.|
7. Paige – New York – 2018
|Description||Paige is one of those medical startups that use AI, neural networks, and deep learning. |
Collaborating with all of these, it analyzes the visual and clinical data.
Based on that, it provides the diagnosis and treatment of cancer.
|Market positioning, Key Features, Key Customers||The idea is still fresh among healthcare startups but has a lot of potentials. |
This startup in healthcare sector aims to provide AI modules to pathologists. They can use the modules to enhance their medical practice.
It also helps them to provide better care at an economical cost.
Moreover, the firm is on the way of developing prognostic tools. These will transform the way doctors diagnose a medical condition.
|Fundings||This startup in medical field has raised around $95 million in three funding rounds.|
8. Lyfebin – Los Angeles – 2018
|Description||Lyfebin is one of those health tech startups from Los Angeles that reduces the hassle of both doctors and patients. |
The platform allows patients and doctors to share medical images.
|Market positioning, Key Features, Key Customers||Lyfebin eliminates the hassle of carrying medical images to every doctor the patient visits. All of them can be stored on the cloud. |
All the doctors and physicians on the platform are licensed and verified. Both doctors and patients can access images from anywhere.
These features make Lyfebin one of the futuristic startups in healthcare sector.
|Fundings||This awesome firm in medical field has not raised any funds so far.|
9. Pearl – California – 2019
|Description||Pearl is a unique one among the healthcare startups as it focuses on dental health. |
The spin-out of GumGum provides advanced dental solutions powered by AI.
|Market positioning, Key Features, Key Customers||The Dental Health market will reach $53.3 billion by 2025. |
Pearl harnessed AI to build dental tools. The tools offered by medical startups are:
These products place Pearl among the top health tech startups.
|Fundings||Pearl has recently raised $11 million over one Series A round.|
10. Polares Medical – California – 2017
|Description||Polares medical is an ingenious medical field startup that focuses on taking care of heart health. |
Its state of the art device is effective in treating the problem of mitral valve regurgitation.
|Market positioning, Key Features, Key Customers||Statistically, Cardiovascular diseases take around 17.9 million lives worldwide each year. |
This demands startups like Polares Medical.
Mitral valve regurgitation occurs due to the backflow of blood.
It happens due to the failure of the heart’s mitral valve to close.
The treatment device from Polares Medical helps to treat this issue.
|Fundings||Polares Medical is one of those medical startups that has raised $25 million through one Venture round.|
11. Rightway Healthcare – New York – 2017
|Description||Rightway Healthcare is one of those startups that offers almost all services in one place. |
It has one of the best medical apps that take care of doctor’s appointments, medicine, claims, etc.
|Market positioning, Key Features, Key Customers||As per Grand View Research, the global market of the mHealth app is projected to hit the $236 billion mark by 2026. |
These figures depict the rise of healthcare startups. And Rightway Healthcare is one of those startups in the medical sector.
It has two solutions:
Both Doctors and patients can harness these tools.
|Fundings||Rightway Healthcare is one of those startups that have raised $30 million so far in health tech.|
12. FeelTect – Ireland – 2019
|Description||FeelTect is among those budding startups that have focussed on a specific issue in healthcare sector. |
The startup developed a device meant for measuring bandage pressure during compression therapy.
|Market positioning, Key Features, Key Customers||Well, as this startup in the medical field focuses on a niche market. It is highly potential. |
Tight Alright accurately measures the pressure of the sub-bandage at any place on it.
While eliminating the shortcomings of the traditional pressure sensing systems. It is ideal for patients with Venous Leg Ulcers.
That makes Feeltect one of the prime startups of healthcare.
|Fundings||Feeltrect has raised around €50k in one grant round so far. |
These funds have made Feeltrect one of the best startups for investment in the medical sector.
13. Cerenion – Finland – 2017
|Description||Mental health has the utmost importance. And Cerenion is aiming to make such a device that provides instant info about the brain functions. |
This distinguishes it from the other startups in the healthcare sector.
|Market positioning, Key Features, Key Customers||The market of global mental health software will hit the $4.77 billion mark by 2026. |
Startups like Cerenion form a part of the mental healthcare market.
The Cerenion C-trend patented technology tells about the status of the brain. The firm is aiming at developing a commercial product.
The commercial product will rank Cerenion among the top startups in health tech.
|Fundings||Cerenion has raised €2.5 million so far. This huge funding makes it one of the potential startups in healthcare.|
14. Lyfegen – Switzerland – 2018
|Description||Startups like Lyfegen in the healthcare sector also form the base of it. |
Lyfegen focuses on keeping track of all the data.
The data consists of the patient’s health information along with payment information.
|Market positioning, Key Features, Key Customers||Lyfegen is a medical field startup that offers two solutions: |
|Fundings||The medical firm is one of those startups that has raised CHF2.2 million.|
15. Kamana – New York – 2018
|Description||Last in this list of health tech firms and startups is Kamana. |
It is a platform built for healthcare staffing agencies and professionals. Kamana can be harnessed for talent acquisition.
|Market positioning, Key Features, Key Customers||The market of healthcare staffing is expected to reach up to $48.6 billion by 2027. |
This is a clear sign of the potential of such medical startups.
Kamana, on the other hand, is meant for travel nurses and allied medical professionals.
It helps travel nurses to keep their data updated on the platform.
Employers can use Kamana for talent acquisition. Other than these, there are various other features of Kamana.
|Fundings||Kamana is one of those healthcare startups that has not raised any funds so far.|
Want your own startup, but do not know where to start?
Well, if you have an idea for health tech startups, you should not wait anymore. However, you should harness the idea to build a healthcare app.
We at Spdload are a team of experienced people striving to offer world-class services. No matter which type of startup in medical field you are planning to start. We will help you take care of:
- Market analysis
- Product designing and development
- Post-release services
Moreover, we also take care of your startup and stand out from other startups in healthcare sector. We make sure that your startup app is HIPAA compliant.