The digital healthcare market has made great strides and was valued at $180.2 billion in 2023. It is expected to grow to $549.7 billion by 2028, which corresponds to an annual growth rate of 25% from 2024 to 2028. The digital health industry consists of a wide range of technologies, including mHealth devices and apps (mobile health), telemedicine, digital therapeutics, and health management systems. Key players in the digital health industry include DexCom, Bitricity, iHealth Labs, AirStrip Technologies, and more.
Check out the five fastest-growing health technology companies in the world.
5. Twist Bioscience Corporation (NASDAQ:TWST)
YoY Growth: 21.58D
Twist Bioscience Corporation (NASDAQ:TWST) is one of the world’s largest health technology companies with 2023 revenue of $245.1 million. is. Twist Bioscience won the award in the US. . FDA collaborates with Pfizer to approve COVID-19 vaccine 2023-2024. Twist Bioscience Corporation (NASDAQ:TWST) also collaborated with Ono Pharmaceutical to explore antibodies against autoimmune diseases and launched CeGaT, an RNA fusion panel for oncology and precision medicine research.
4. Sophia Genetics SA (NASDAQ:SOPH)
YoY Growth: 31.14D
Sophia Genetics SA (NASDAQ:SOPH) is the world’s fourth fastest growing health tech company. The company’s AI-powered platform helps doctors analyze genomic data to identify personalized treatment options for cancer patients. In 2021, Sophia Genetics SA (NASDAQ: SOPH) went public, raising over $234 million in its IPO and achieving a valuation of over $1 billion. The company’s 2023 sales were $6.4 million.
3. Innovent Biologics
YoY Growth: 36.21D
Innovent Biologics is one of the leading biopharmaceutical and health technology companies with sales of USD 903.6 million (RMB 6,206.1 million). The company currently has four products approved for commercialization in China, five compounds in Phase III or pivotal clinical trials, and 14 molecules in early clinical stages. Innovent’s GLP-1R and GCGR dual agonist mazdutide demonstrated potent weight loss and hypoglycemic effects in clinical trials for the treatment of obesity and type 2 diabetes.
2. Immunocore Holdings plc (NASDAQ:IMCR)
YoY Growth: 43.05D
Immunocore Holdings plc (NASDAQ:IMCR) had revenue of $249.4 million in 2023. Immunocore Holdings plc (NASDAQ:IMCR)’s lead product candidate, tebentafusp, is a first-in-class, bispecific T-cell engager for the treatment of metastatic uveal melanoma, a rare and aggressive eye cancer. Showing promising results. Teventasp showed a significant improvement in overall survival compared to standard treatment in clinical trials, reducing the risk of death by 31%.
1. Ascendis Pharma A/S (NASDAQ:ASND)
YoY Growth: 421.20D
Ascendis Pharma A/S (NASDAQ:ASND) tops the list as one of the fastest growing healthcare technology companies in the world standing. One of his most notable contributions to Ascendis Pharma was his introduction in Germany of SKYTROFA, a once-weekly treatment for children and adolescents with growth hormone deficiency. Additionally, Ascendis Pharma recently received positive CHMP review for TransCon™ PTH, a treatment for adults with chronic hypoparathyroidism. Ascendis Pharma A/S (NASDAQ: ASND) has 2023 sales of $280 million and also signed a partnership with Royalty Pharma that includes a $150 million royalty financing agreement.