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The enterprise health & wellness tech sector ended 2020 on a high note, increasing its capital raised by 60% compared to Q3. The $3.2 billion in venture funding was the largest quarterly deal total of the last five years, and it brought the year's VC funding to $8.3 billion—up nearly 70% year-over-year despite deal count being relatively flat.
Venture activity has spiked as the push for patient-driven care accelerates digital adoption, and the enterprise health & wellness tech sector is projected to reach $1.3 trillion by 2025, according to our latest Emerging Tech Research report. Other highlights include:
- The largest share of venture funding in 2020 went to the operations & care management segment, which raised $5.3 billion
- Prescription tech is the fastest-growing segment of enterprise health & wellness tech, driven by better digital infrastructure, rising demand and the need to reduce medication errors
- The venture ecosystem will be a vital incubator for tech that can help mitigate the impacts of future pandemics, a mission that governments and NGOs are expected to prioritize