VILNIUS, Lithuania, April 12, 2023 (GLOBE NEWSWIRE) -- Researchers at the digital health company Kilo Health have released the Health and Wellness Market Predictions for 2023 report, which shows that the investments in the global health and wellness market will likely reach around $24.8B in 2023, with an annual growth of 22%. The report analyzes the total investment amounts, market size, and key factors of market shifts between 2019 and 2022 and presents possible predictions for 2023.
“The Financial Wellness, Fitness, Mental Health, Older Adults, and Medical System categories see the most interest from investors. This growth, combined with the higher consumer purchasing power, allows companies to focus on developing new types of products that can help people get healthier,” says Vilius Cesnauskas, Chief Business Development Officer at Kilo Health.
So, what are the key trends that have shaped the past few years?
- Mega deals attract more investor attention each year. In 2021, 64 deals went over $100M+, about five times the number in 2019, although the number declined in 2022.
- Investments boomed in 2021. Judging by investments over the past 4 years, the biggest boom occurred in 2021. Total funding increased twice since 2019, from $12B to $23B in 2021. Even though the total number of deals decreased between 2019 and 2021, the average deal size more than doubled in 2021 ($26M) compared to 2019 ($11M). Compared to 2021, the number of funding deals in 2022 increased from 885 to 1,013, but the total amount decreased from $23B to $20B.
- Investors focus on 3 main categories. The most funded categories of the 2019–2022 period are Personal Health & Self-Care ($18B), Medical Systems ($14B), and Health Diseases ($12B).
- Most investors focus on seed investments. From 2019 to 2022, the distribution of total funding deals in different funding statuses remained the same, with the seed status making up most deals and IPOs accounting for the least. The high number of deals in seed rounds shows the industry's vitality and freshness, where lots of new market players and new ideas can be presented worldwide.
- Fewer deals happen in the latter investment stages. The number of deals for early-stage, late-stage ventures, and IPOs has been decreasing since 2019 as the funding status becomes more advanced. The more advanced the funding status, the smaller the number of deals.
About Kilo Health:
Kilo Health is one of the leading digital health and wellness companies, with 5+ million customers worldwide. As of 2022, it’s the second fastest-growing company in Europe on the FT 1,000 ranking. Kilo Health has over 30 innovative digital health products, 550+ colleagues, and offices across 5 European cities. The company is also a member of the DTx Alliance, Matter Community, and HealthXL.
Contact for more information:
Rugilė Stroputė
Kilo Health
+370 674 42 633
rugile.stropute@kilo.health
