The third quarter of 2023 saw digital health funding and deals decline to some of the lowest levels seen in years, according to CB Insights’ third-quarter 2023 State of Digital Health report. But some bright spots exist, including early-stage and megaround deals, said speakers from the company during a Nov. 9 webinar titled Digital Health in Q3’23: Global Activity & Emerging Trends.
The main takeaway from the quarter, said Chris Sekerak, intelligence analyst II for CB Insights, is that “digital health funding is the lowest since 2016,” with “$3 billion in equity funding across 247 deals,” representing a 14% quarter-over-quarter (Q0Q) funding decline. For a third straight quarter, digital health deals decreased, with a 33% QoQ drop most recently in deals, the lowest amount in almost 10 years.