NEW YORK, Sept. 21, 2016 /PRNewswire/ -- According to
a survey of 122 founders, executives and investors in health-tech
companies released today by Silicon Valley Bank, big data and
artificial intelligence will have the greatest impact on the
industry in the year ahead. Healthcare delivery and healthcare IT
also promise the most growth in 2017.
"Big data has been integral to our work at Celmatix. It has
empowered physicians to be able to counsel women about their
chances of having a baby, based on their relevant personal metrics,
and not just their age," said Dr. Piraye Yurttas Beim, Chief
Executive Officer at Celmatix. "It's an exciting time to be in a
field where the pace of innovation continues to increase as both
physicians and patients realize the potential of big data and
personalized medicine."
The Silicon Valley Bank survey was conducted at the company's
HealthTech NYC event on September 8,
2016. The day-long event brought together more than 200
founders and executives from healthtech companies including
Aledade, babylon Health, Celmatix, PokitDok, Quartet Health and
ZocDoc, as well as healthcare and technology investors from firms
including Andreessen Horowitz, New Enterprise Associates and
Venrock. Featured speakers included Karen
M. Ignagni, President and CEO, EmblemHealth; Tom Rodgers, SVP and Managing Director,
McKesson Ventures; and Steve Allan, Head of SVB Analytics, who
presented the latest SVB research report on digital health called,
Consumer Digital Health: How Market Shift is Leading to New
Opportunities.
Findings from the survey highlight the biggest opportunities and
threats for healthcare-related technology companies in the coming
year:
- Biggest Challenge – Although the industry is at the
forefront of innovation, consumer, patient and client adoption
remains the biggest industry challenge (37 percent) followed by
regulation (34 percent).
- Greatest Impact on Investments – Thirty-four
percent of survey respondents say the success of existing
technologies gaining traction will have the greatest impact on
investment in the sector next year. Despite uncertainty, the
upcoming US Presidential election was seen as least influential
factor impacting investment in the industry (7 percent).
- Most Promising Technology – Survey respondents say big
data (46 percent) and artificial intelligence (35 percent) are the
technical innovations that will have the greatest impact on
healthtech in 2017.
- Biggest Growth Sector – Healthcare delivery/IT is
cited as most likely to experience growth in the coming year (45
percent), ahead of more consumer-focused products including mobile
health apps (8 percent) and wearables (7 percent).
- Best Funding Source – The majority of respondents
(61 percent) believe venture capital will provide the greatest
funding opportunities for healthtech companies in the coming
year.
The complete survey results are available here.
Editor's Note: The HealthTech Survey was conducted on
September 8, 2016 at Silicon Valley
Bank's HealthTech NYC event. The 122 survey respondents, who were
among the attendees at the event, comprised digital healthcare and
technology founders, executives and investors.
About Silicon Valley Bank
For more than 30 years, Silicon Valley Bank (SVB) has helped
innovative companies and their investors move bold ideas forward,
fast. SVB provides targeted financial services and expertise
through its offices in innovation centers around the world. With
commercial, international and private banking services, SVB helps
address the unique needs of innovators. Learn more at svb.com.
©2016 SVB Financial Group. All rights reserved. Silicon
Valley Bank is the California bank
subsidiary of SVB Financial Group. Silicon Valley Bank is a member
of FDIC and Federal Reserve System. SVB>, SVB Financial Group,
and Silicon Valley Bank, are trademarks of SVB Financial Group,
used under license.
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SOURCE Silicon Valley Bank