What’s going down?
While adoption of digital health solutions grew amidst the pandemic, a funding crunch followed in 2022, and experts say investment recovery can come as late as 2024. Given the recent situation with Silicon Valley and Signature banks, investors are even more cautious about where they put their money.
Why should APAC businesses care?
Such a decrease in funding would be a shame, especially as more is being discovered about the change the convergence of tech and healthcare can bring. The good news is that as a consumer-driven sector, opportunities for innovation and funding will continue to emerge for healthtech, so long as consumers continue to evolve and challenges in the healthcare industry remain unsolved.
Why are we at Bud excited about this?
With the promise of continuous innovation and funding for the healthtech sector, we’re looking forward to more revolutionary innovations in the space. We’re already seeing the beginnings of AI moving the needle in healthcare, with some recent developments being:
🩺 Hospitals in Singapore embracing AI for AI-assisted colonoscopies, which could change cancer screening for the better.
⌚ Google’s recent AI partnerships creating easy access to high-quality, low-cost medical diagnostics for consumers.
VCs will continue to fork out funding, so long as healthtechs can clearly carve out a path of profitability and showcase the revolutionary change their tech will bring.
This blog was first published on Bud in Brief - a monthly newsletter by Bud Communications. If you enjoyed the read, subscribe here.