The year 2019 saw a lot of money pouring into startups and many digital health unicorns (valued at over $1 billion) were created overnight with high-flying initial public offerings (IPOs).
VC funding leveled off to about $7 billion in 2019 after topping at $8 billion the prior year with over 350 companies funded. That same year, six companies had IPOs resulting in a combined market value of $17 billion, among them Livongo, Change Healthcare, Phreesia, and Health Catalyst. By 2026, the global digitalization healthcare market value is expected to reach around $511 billion.
Digital healthcare is booming — but who will come out on top?