Infographic: A Snapshot of Global HealthTech in 2016

HealthTech is a booming sector and it emerges that in 2016 more than 250 companies (267 at the time of writing) had received significant levels of funding- over 2M$ each — with areas such as consumer experience and wellness attracting the bulk of investment.

The research by MWHomecare also discovered that a significant number of young people — aged between 24 and 28 — believe that doctor consultations as we know them will soon become obsolete, replaced by various alternative technologies. These are people who also have no qualms with the idea of having a microchip containing their medical records implanted under their skin to improve efficiency in healthcare provision.

Governments around the world are investing heavily into modernizing their own healthcare provision, with Singapore leading the way by committing over $13 billion to a five-year R&D plan focusing on biomedical sciences. Hardly surprising when you consider that an estimated 2 billion dollars could be saved every year by implementing new technologies in the field.

Mobile continues to grow and it is predicted that by 2020 the health apps space will be worth in excess of $31 billion, with fitness apps commanding a 30% share of that booming market.

This infographic shows some of the trends that have emerged in the HealthTech space in 2016. And with big players like Apple increasingly looking to expand their reach and technologies such as Augmented Reality becoming more pervasive in the sector there’s little doubt that we will continue to see interesting developments over the course of 2017.

Originally published at Alice Bonasio.