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Digital Health Doubles its Investment in 2021

In 2020, this market reached $ 21.6 billion worldwide. Investment in telemedicine reached $ 4.3 billion, an increase of 139% over the previous year. Some 3.6 billion people remain disconnected or broadband services are too expensive for half the population in developed countries, according to World Economic Forum data cited in the same report.

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Healthtech is experiencing its sweetest post-pandemic moment. Investment in companies dedicated to digital health doubled in the year of Covid-19, reaching $21.6 billion worldwide, according to PwC’s Global Top Health Industry Issues 2021 report.

In 2020, telemedicine investment reached $4.3 billion, an increase of 139% over the previous year. In the wake of the Covid-19 pandemic, this market has been revitalized. In this regard, the PwC report gives as an example the acquisition of Livongo Health by Teladoc in October last year for $18.5 billion.

This work also analyzes the user profile in telemedicine and concludes that telemedicine medical visits are carried out through four main channels.

83% of respondents have received information regarding their health status through the use of the phone, while 81% have done so through the use of an app. In addition, 91% of users who have used video calls as a method of medical visit prefer to use this system to a face-to-face consultation.

On the other hand, 80% of respondents have also used email to exchange information related to their health status, while 78% have done so using the traditional text message format.

Read more about the increase of investments in the digital health sector and find other important business headlines with our companion app Born2Invest.

91% of users who have used a video call as a method of medical visits prefer to use this method instead of a face-to-face consultation

By country, the most likely to use a mobile application for consultations related to their health status are China, with 87% affirmative responses; India, with 86%; the United States, with 86%; South Africa, with 85%; and the United Kingdom, with 75%.

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Still, the report emphasizes the fact that virtual care can create new disparities or exacerbate existing inequalities if vulnerable populations, including minorities, the elderly, and the poor, do not have the cell phone devices, connectivity, and digital literacy needed to participate.

Some 3.6 billion people remain disconnected or broadband services are too expensive for half the population in developed countries, according to World Economic Forum data cited in the same report.

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(Featured image by Tumisu via Pixabay)

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Anthony Donaghue writes about science and technology. Keeping abreast of the latest tech developments in various sectors, he has a keen interest on startups, especially inside and outside of Silicon Valley. From time to time, he also covers agritech and biotech, as well as consumer electronics, IT, AI, and fintech, among others. He has also written about IPOs, cannabis, and investing.