We previously highlighted that health technology funding had the highest quarter on record in Q3 2018. This blog post will take a closer look at the funding trends within the individual health technology categories. Per our analysis, we notice two key takeaways:
- The IoT Fitness category leads the sector in Q3 funding
- The Digital Medical Devices category leads the sector in all-time funding
We’ll highlight these takeaways with some graphics and discussions below.
The IoT Fitness Category Leads Health Technology In Q3 Funding
To start off, let’s review the amount of funding raised this quarter per category within health technology.
The above graphic highlights that the IoT Fitness category leads the sector in Q3 funding with $0.9B. The Digital Medical Devices category follows in the second place with $0.8B.
IoT Fitness companies create connected devices that track fitness and exercise metrics. Such devices include healthy eating trackers, exercise tracking wristbands, and smartphone-controlled shoes. Some example companies in this category include Moov, Sensoria, Striiv, and Atlas Wearables.
Let’s now investigate how the healthtech categories’ funding compare with each other historically.
The Digital Medical Devices Category Leads the Sector in All-Time Funding
The graph below shows the all-time funding for the various health technology categories. The Q3 funding and growth rates of these categories are also highlighted.
As the bar graph indicates, the Digital Medical Devices category leads health technology in total funding at $15B. The Genomics category follows in the second place with $13B in total funding.
Digital Medical Device companies build IT-enabled medical and diagnostic devices for doctors. These devices include detection equipment, monitoring equipment, and surgical tools. Some example companies are Signostics, MediBeacon, Stimwave, and AliveCor.
In summary, the IoT Fitness category leads health technology in Q3 funding. The Digital Medical Devices category leads the sector in total funding.