Report by Galen Growth Reveals Asia’s HealthTech Activity in Q1 2020 Weakened Closing at US$703 million Across 68 Deals Amidst Pandemic
The 2020 First Quarter Asia Pacific Investment Landscape Report by Galen Growth gives insights into the HealthTech ecosystem in Asia at the onset of the COVID-19 situation
SINGAPORE, 6th April 2020 – A recent study by Galen Growth, the leading HealthTech market intelligence, analytics and advisory firm in Asia, shows that in the first quarter of 2020, the total funding deployed in HealthTech weakened US$703 million across 68 deals. Despite this slow-down in investment, there were great opportunities during the first quarter for HealthTech in the region, particularly for digital health such as Online Marketplace, Medical Diagnostics, and Patient Solutions. During this unprecedented situation, digital health is a definite imperative, and will continue to be, in our technologically advanced society.
In its 2020 Q1 Asia Pacific HealthTech Investment Landscape report – a go-to reference for key trends and insights for Investors, enterprises and startups – Galen Growth found that Asia Pacific had a drastic reduction in the digital health funding momentum in Q1 2020, compared to Q1 2019. Despite the deal count trend shrinking, there is an expansion in Growth and Late Stage deal volume, whist there is a decrease in Early Stage. In conclusion, the average deal value slipped by 31% to $10.6M likely reflecting the inevitable global downward trend in valuations.
In this COVID-19 special report, Galen Growth describes how digital health plays a catalyst role in the present delivery of healthcare during this pandemic as well as post COVID-19. The report also shows how vital innovation is to alleviate the burden of health systems, healthcare professionals and patients. During this pandemic, Telemedicine recorded the biggest deal value increase as the funding value increased by 8.5x, compared to Q1 2019. In addition, this situation gave rise to a few HealthTech clusters, namely Telemedicine, Patient Solutions and Medical Diagnostics.
Commenting on the report, Julien de Salaberry, CEO and Founder of Galen Growth, said, “Galen Growth, believes that COVID-19 will accelerate the adoption of digital health within the private and public healthcare sectors. To give you a flavour of this new normal, we see major shift in the regulators’ stance on digital health across the region and the birth of a new HealthTech category. ”
Galen Growth’s 2020 Q1 2020 Asia Pacific HealthTech Investment Landscape report is powered by the company’s proprietary HealthTech Alpha intelligence and analytics platform which will launch its global data coverage by the end of Q2 2020. This analytics platform delivers accurate and timely information to the world’s leading corporations, investors, industry innovation leaders, startups, CxOs, and researchers. With its tremendous success in Asia, this led to the company’s current expansion to Europe.
To download the report visit: https://www.galengrowth.com/research/