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Enterprise Healthtech Report

2021 Annual

Enterprise Healthtech Report

February 9, 2022

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This report was updated on May 12, 2022 to remove incorrect market size estimates and related charts. 

Enterprise healthtech matures as digitization drives VC funding

Enterprise healthtech startups raised $20.2 billion in funding in 2021, a 67% increase over the previous year, as the industry matures and late-stage deals proliferate.

The sector's market size is expected to reach $1.3 trillion by 2025, as digitization continues to expand across multiple facets of the healthcare industry, according to our 2021 Annual Enterprise Healthtech Report.

Key takeaways

  • Exit value skyrocketed in 2021, with $36.2 billion in total—more than six times the total value in 2020—driven predominantly by strong IPO activity among insurtech companies.
  • Operations & care management startups continue to benefit from an increase in patient data and the adoption of value-based care, with the segment driving nearly a third of deal value last year.
  • Late-stage deal count and value both rose in 2021, with startups in segments like prescription tech taking advantage of shifting consumer behavior.

Table of contents
Vertical overview 3
Q4 2021 timeline 4
Enterprise healthtech VC ecosystem market map 5
VC activity 7
Segment overview 9
Prescription tech 10
Customer acquisition tools 21
Clinical trial tech 31
Insurtech 41
Operations & care management 51
Appendix 61