Digital Healthcare Executives and Investors Addressed
Opportunities and Challenges Facing the Industry
New
York City – September 21, 2016 – According to a survey of 122 founders,
executives and investors in health-tech companies released today by Silicon
Valley Bank,
big data and artificial intelligence will have the greatest impact on the
industry in the year ahead. Healthcare delivery and healthcare IT also promise the
most growth in 2017.
“Big
data has been integral to our work at Celmatix. It has empowered physicians to
be able to counsel women about their chances of having a baby, based on their
relevant personal metrics, and not just their age,” said Dr. Piraye Yurttas
Beim, Chief Executive Officer at Celmatix. “It’s an exciting time to be in a
field where the pace of innovation continues to increase as both physicians and
patients realize the potential of big data and personalized medicine."
The
Silicon Valley Bank survey was conducted at the company’s HealthTech NYC event on September 8, 2016.
The day-long event brought together more than 200 founders and executives from
healthtech companies including Aledade, babylon Health, Celmatix, PokitDok, Quartet Health and ZocDoc, as
well as healthcare and technology investors from firms including Andreessen Horowitz, New Enterprise Associates
and Venrock. Featured speakers included Karen M. Ignagni, President and CEO, EmblemHealth; Tom Rodgers, SVP and Managing Director,
McKesson Ventures; and Steve Allan, Head of SVB Analytics, who presented the
latest SVB research report on digital health called, Consumer
Digital Health: How Market Shift is Leading to New Opportunities.
Findings
from the survey highlight the biggest opportunities and threats for
healthcare-related technology companies in the coming year:
- Biggest Challenge –Although the industry is at the forefront of innovation, consumer,
patient and client adoption remains the biggest industry challenge (37 percent)
followed by regulation (34 percent).
- Greatest Impact on
Investments –Thirty-four percent of survey respondents
say the success of existing technologies gaining traction will have the
greatest impact on investment in the sector next year. Despite uncertainty, the
upcoming US Presidential election was seen as least influential factor impacting
investment in the industry (7 percent).
- Most Promising Technology – Survey respondents say big data (46 percent) and artificial intelligence (35
percent) are the technical innovations that will have the greatest impact on
healthtech in 2017.
- Biggest Growth Sector – Healthcare delivery/IT
is cited as most likely to experience growth in the coming year (45 percent),
ahead of more consumer-focused products including mobile health apps (8
percent) and wearables (7 percent).
- Best Funding Source –The majority of respondents (61 percent) believe venture capital
will provide the greatest funding opportunities for healthtech companies in the
coming year.
The complete survey results are available below.
Editor’s Note: The HealthTech Survey
was conducted on September 8, 2016 at Silicon Valley Bank’s HealthTech NYC
event. The 122 survey respondents, who were among the attendees at the event, comprised
digital healthcare and technology founders, executives and investors.
About Silicon
Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped innovative
companies and their investors move bold ideas forward, fast. SVB provides
targeted financial services and expertise through its offices in innovation
centers around the world. With commercial, international and private banking
services, SVB helps address the unique needs of innovators. Learn more at svb.com.
©2016 SVB Financial Group. All rights reserved. Silicon Valley Bank is
the California bank subsidiary of SVB Financial Group. Silicon Valley Bank is a
member of FDIC and Federal Reserve System. SVB>, SVB Financial Group, and
Silicon Valley Bank, are trademarks of SVB Financial Group, used under license.