As technology grows and expands, it continues to integrate into many areas, including healthcare. As more people desire accessible, efficient, and personalized care, the HealthTech industry is helping redefine everything from daily wellness to chronic disease management. In this blog, learn more about the HealthTech industry, key players in the industry, and how it might grow in the future.
The Rise of HealthTech
The HealthTech market has experienced growth in the past few years, fueled by advancements in AI, data analytics, and a shift towards patient-centric care models. 2024 saw the third highest year for HealthTech in terms of venture capital investment, only behind 2021 and 2022.[1] The market as a whole was estimated at $288.55B in 2024 and is projected to reach $946.04B by 2030, growing at a compound annual growth rate of 22.2%.[2]
This growth may be driven by several key factors. First, the adoption of value-based care is helping drive this growth, which prioritizes patient outcomes over service volume. Additionally, there has been an increased focus on mental health care, and finally, a need to reduce burden on traditional healthcare systems. Processes like remote patient monitoring and telehealth have become more common practice.
Key Players
The following are some MicroVentures portfolio companies that are innovating within the HealthTech industry.
Whoop
Operating in the health and fitness wearables sector, Whoop has established its place in the industry with celebrity athletes like Cristiano Ronaldo, Michael Phelps, and Rory McIlroy wearing the wrist strap. It’s 24/7 sensors provide advanced analytics on strain, recovery, and sleep, offering personalized insights to the wearer. Its emphasis on actionable data has helped cement its position in the competitive wearables market.
Hyperice
Hyperice has made a name for itself operating in the field of “recovery tech”, offering a suite of products like percussion massagers, vibrating foam rollers, and contrast therapy devices. Used by Naomi Osaka, Patrick Mahomes, and Christian McCaffrey, Hyperice focuses on helping people move better and live better through technology-enhanced recovery.
Everly Health
Providing direct-to-consumer lab-based diagnostic tests and digital care solutions, Everly Health helps consumers gain answers about their health without having to visit a doctor’s office in person. Its platform offers easy access to at-home test kits for everything from food sensitivity and cholesterol to hormones and STD screening.
Headspace Health
Founded through the merger of Headspace and Ginger in 2021, Headspace Health operates in the digital mental health space. By combining Headspace’s popular meditation and mindfulness app with Ginger’s on-demand coaching and therapy services, Headspace Health aims to serve as a full-spectrum mental health platform.
Tenzr Health
Tenzr Health is innovating in the physiotherapy and musculoskeletal space with its AI-powered motion capture technology. By using just a standard webcam, Tenzr analyzes a user’s movement during rehab exercises to provide real-time form feedback and personalized recovery plans. By bringing physical therapy into the comfort of a patient’s home, Tenzr is an example of the growing acceptance of AI-powered technology in physical rehabilitation and HealthTech.
Color Health
Color Health operates a platform that delivers essential healthcare services directly to populations, with a strong focus on genomics and public health. It provides scalable testing and telehealth programs for conditions like cancer, heart disease, and infectious diseases to employers, governments, and health systems.
The Future of HealthTech
Looking ahead, there are a few trends that may be prevalent in the future as HealthTech continues to grow and evolve.
Artificial Intelligence
Artificial intelligence is expected to play a role in the future in diagnosing conditions from medical images and genetic data, allowing for hyper-personalized treatment plans. It may also serve in accelerating drug discovery, automating administrative tasks, and supporting clinical decision making. Additionally, it could help play a role in medical notetaking and documentation and streamlining workflows, enabling medical staff to focus on direct patient care.
Virtual Care
There has been a rise in virtual care, with telehealth appointments becoming more and more common to limit the spread of germs and sickness and also serve as a more convenient way for patients to receive care from the comfort of their own home. Remote monitoring through connected HealthTech devices has also helped guide care pathways without having to take the time to visit a doctor’s office. This is an option for patients to receive timely care without the friction of in-person visits.
Digital Mental Health Solutions
With digital platforms able to provide more personalized, evidence-based approaches to mental health, stigma can be reduced and access improved. Virtual therapy and AI-enabled cognitive behavioral tools could be positive HealthTech solutions with future growth potential as people continue to seek out mental health care solutions.
Final Thoughts
The HealthTech industry is helping transform how we access, manage, and experience healthcare. From daily insights from wearables, tech-driven recovery and rehab solutions, the rise of digital healthcare, and at-home monitoring and testing solutions, these innovations in the HealthTech industry are helping create a more proactive, personalized, and accessible future.
Are you ready to invest in HealthTech startups? Sign up for a MicroVentures account to start investing!
Want to learn more about industries to keep an eye on? Check out the following MicroVentures blogs to learn more:
- Investing in the Future: The Rise of GreenTech
- Disruption in Motion: Analyzing Quantum Computing
- Navigating the Digital World: The Growth of Cybersecurity
- Beyond the Battlefield: Defense Technology
- The Sky’s the Limit: Drones and Autonomous Vehicles
[1] https://dealroom.co/guides/healthtech-guide
[2] https://www.grandviewresearch.com/industry-analysis/digital-health-market
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The information presented here is for general informational purposes only and is not intended to be, nor should it be construed or used as, comprehensive offering documentation for any security, investment, tax or legal advice, a recommendation, or an offer to sell, or a solicitation of an offer to buy, an interest, directly or indirectly, in any company. Investing in both early-stage and later-stage companies carries a high degree of risk. A loss of an investor’s entire investment is possible, and no profit may be realized. Investors should be aware that these types of investments are illiquid and should anticipate holding until an exit occurs.
