Cbinsights-2021Q2健康创投产业趋势报告（英）-2021_78页_6mb

State Of Healthcare Q2'21 Report: Investment & Sector Trends To Watch

Core Content Overview

This report provides an analysis of the global healthcare investment landscape and sector trends in Q2 2021, highlighting key developments in AI, digital therapeutics, telehealth, omics, medical devices, health IT, and mental health tech. It outlines the overall market performance, segment-specific insights, and major players in the sector.

Main Trends & Key Findings

Overall Healthcare Investment

• Global healthcare investment rose for the 7th consecutive quarter, totaling $34.7B across nearly 1.6K deals.
• Digital health startups accounted for 40% of both deals and funding, with $14.1B raised across 628 deals.
• European investment nearly doubled QoQ to $6.9B, marking the 5th consecutive quarter of growth.
• Asian investment fell for the 2nd quarter in a row, but remained elevated compared to pre-Q3'20 levels.
• Early-stage deal share increased to 54%, the highest since Q3'19.
• M&A activity continued, with primary care, women's health, and mental health as acquisition hotspots.
• SPAC activity remained active in digital health, with 3 companies making public market debuts and 7 others planning to do so.

Top Deals in Q2'21

Digital Health SPAC Activity

• 5 companies completed SPAC exits in Q2'21, including LumiraDx, Babylon, 23andMe, Valo, and Pear Therapeutics.
• Valo and Pear Therapeutics raised $2.8B and $1.6B respectively, with Valo listing via a SPAC deal.

New Healthcare Unicorns

• 11 healthcare startups joined the unicorn club in Q2'21, with an aggregate valuation of $27B.
• Current global healthcare unicorns number 78, with a combined valuation of $214B.

Segment-Specific Trends

AI in Healthcare

• Funding reached a record high of $2.7B, despite a decline in deals.
• Mega-rounds ($100M+) highlighted the broad applications of AI in healthcare.
• AI-based drug discovery companies saw high-profile exits, including Recursion (IPO, $2.9B valuation) and ZebiAI (acquired for $270M).
• AI-based motion detection startups like Kaia Health and SWORD Health attracted mid-stage funding, with SWORD Health reporting over 600% revenue growth.

Digital Therapeutics

• Funding decreased slightly from Q1'21 but remained at $580M, above prior quarterly levels.
• Established players raised capital to expand into new therapeutic areas.
• Hospital systems showed growing interest in digital therapeutics for unmet needs.

Telehealth

• Funding broke records for the 4th consecutive quarter, reaching $5B with a 165% YoY increase.
• The teletherapy, virtual health coaching, and care management segment represented 40% of global telehealth deals for the first time.
• Walmart and Amazon made telehealth expansion clear, with Walmart acquiring MeMD and Amazon Care signing its first customer.
• Telehealth lobbying increased, with 11 companies actively involved in regulatory reform efforts.

Omics

• Deals increased for the first time in 9 quarters, with a 30% QoQ rise.
• Funding jumped by 50% to $2.8B, setting a new record.
• Mega-rounds and public market debuts highlighted the increasing use of omics in healthcare, especially in genetic engineering.

Medical Devices

• Funding rebounded to $8.2B across 396 deals, a 70% QoQ increase.
• Late-stage mega-rounds included CMR Surgical ($600M) and Quanta ($245M).
• Early-stage deal share increased for the first time in 9 quarters.

Health IT

• Funding fell by $600M (-30%) from the previous quarter, ending 6 consecutive quarters of growth.
• Late-stage deal share dropped to 9%, while mid-stage deal share increased to 47%.
• Digital care enablement and digital surgery solutions were notable areas of mid-stage deal activity.

Mental Health Tech

• Funding increased by over 50% QoQ to $1.3B, driven by 5 late-stage mega-rounds.
• Digital biomarker companies attracted VC backing.
• Convergence of digital health tech and psychedelic-assisted therapy gained momentum.

Tech Giants' Health Initiatives

• Facebook expanded its emotional health resources and partnered with India's government to roll out a Vaccine Finder tool.
• Microsoft acquired Nuance Communications for $19.7B, solidified health data partnerships, and participated in lab automation funding.
• Google launched its first medical device, Derm Assist, and invested in several healthcare startups.
• Amazon expanded its telehealth service, launched AmazonDx.com, and invested in health analytics through the AWS Healthcare Accelerator.

Conclusion

Q2 2021 saw continued growth in global healthcare investment, with digital transformation and AI driving significant attention and funding. Telehealth and digital therapeutics remained hotspots, while health equity and regulatory reform gained traction. Tech giants continued to invest heavily in healthcare, and new entrants and acquisitions signaled ongoing innovation and consolidation in the sector.