According to data researched by Trading Platforms UK, the total digital health industry funding grew by 55.39%, from $13.9 billion in 2019 to $21.6 billion in 2020. Digital health technologies helped to bridge the forced physical divide between doctors and patients. Technology helped develop remote medical monitoring platforms to help healthcare service providers address the medical needs of patients located in remote areas.

Total digital health funding hits $91.7 billion in ten years 

Between 2010 and 2020, the industry’s total funding was $91.7 billion. In 2018, the funding was $14.7 billion, an increase from 2017’s $11.8 billion.

In 2016, the sector’s funding was at $8.2 billion, while in 2015, the figure stood at $6.1 billion. As of 2014, the digital health industry funding hit $7.1 billion, while in 2013, it was at $2.8 billion.

In 2012, the industry received funding totaling $2.3 billion, while in 2011, it was at $2.1 billion. 2010 recorded the lowest funding at $1.1 billion.

The report cites some of the factors that acted as a catalyst for the record funding in 2020. According to the research report:

“The sector also witnessed an influx of investors after receiving support from various governments and organizations worldwide. The crisis compelled governments and hospitals to adopt models such as telemedicine swiftly. The government’s endorsement of digital health products acted as a boost for the sector as most investors were confident of positive returns in the future due to a conducive environment.”

Moving forward, it will be of keen interest to see if the industry will retain the gains made amid the pandemic. However, one major concern will be how the sector handles sensitive patient data and sustains business models. These factors might impede the sector’s growth.