Galen Growth and FINN Partners to launch ‘Global State of Digital Health Report’

Practical value of digital solutions to accelerate access to care and improve patient outcomes will be highlighted

Galen Growth, the digital health, data-driven market intelligence company, and FINN Partners, a global integrated marketing services agency, announced a joint effort to mine data and produce the first “Global State of Digital Health Report.” The first report drawing input from some 200M data points and more than 12,000 digital health ventures across the globe, will be released soon in November. The second report will be available in January 2023. Additional quarterly reports are anticipated throughout the coming year. 

With this partnership, experts from the FINN Global Digital Health Group are working side- by side with Galen Growth data and research professionals to chart the complex and often fragmented digital health landscape; emerging market trends, areas of growth and innovation, and look beyond equity funding to explore what’s expected to happen in this fast-paced digital health sector. The combined team will look beyond the “hype” of digital to map the priority and practical opportunities for decision-makers.

The Galen/FINN “Global State of Digital Health Report” shows verified trends, including:

• While 2022 digital health venture capital has not matched the skyrocketing value of 2021, a closer look at year-on-year Q1-Q3 funding by development stages reveals that capital infusion in 2022 exceeds 2021 values for the Early Stage and Series A funding rounds. It increasingly lagged in 2021 values across later funding stages.
• More than 60 per cent share of the total venture funding value comes from North America. But on a regional level, the Middle East set record-breaking amounts of venture funding in Q2 2022. Europe maintains momentum throughout 2022 and has not experienced the quarter-on quarter decrease in venture funding seen in North America.

In the shadow of the pandemic, tremendous investment poured into digital health.

The digital health sector has grown significantly during the past decade, with $2 billion invested in 2011 and $44 billion in 2021 by the global financial and corporate markets. But in the past year, investors have been more selective in their decisions. The “Global State of Digital Health Report” will examine those shifts and outline best practices in investment strategies.

The first of the two reports will lay the groundwork for future reports recapping the year- to-date in digital health and focus on global investment insights, categories, and therapeutics, to name a few themes that hold great potential to benefit from digital applications and 2023 trends.

“With the slowdown of venture funding in 2022, digital health is anchoring back to reality, becoming more focused, and demanding more verification that ventures are offering solutions that will bring value to the digital health ecosystem. This joint report with FINN Partners will explore how ventures are meeting those challenges and preparing to show evidence to demonstrate the effectiveness of their solutions”, added Julien de Salaberry CEO and Galen Growth co-founder. “

Ritesh Patel, Senior Partner, Global Digital Health Lead at FINN Partners said, “FINN Partners is thrilled to pair with Galen Growth to take a deeper look at the Digital Health landscape. The rapidly expanding digital health ecosystem must be leveraged to improve patient outcomes. This series of studies will help inform the choices providers, payers, product innovators and patients will need to make in the coming years.”

FINN digital health leaders will lend their perspective, analysis, and guidance to supplement the data and insights developed by the Galen Growth team to help guide stakeholders as they navigate and engage with the global digital health landscape.

Gil Bashe, Chair Global Health and Purpose, FINN Partners said, “The health system has been long resistant to change. Health information delivered across digital platforms has altered the patient care pathway and shifted the tone and expectation among decision-makers navigating the fragmented health ecosystem. The Galen Growth/FINN Partnership will offer insights to the sector – private and public – that will hopefully rally investors and innovators to ideas that can sustain and save lives faster.”