As the healthcare landscape evolves, investors are increasingly turning to healthtech for its transformative potential. Driven by advancements in AI,  and a shift towards personalized and preventive care, healthtech is redefining patient outcomes and investor returns alike. In 2024, five healthtech trends stand out, each offering significant growth potential for investors, especially with AI-powered deal sourcing making these opportunities more accessible than ever. With a little help from Cyndx’s Finder platform, we also explore the companies dominating these spaces.

1. Wearables 

The Internet of Medical Things is gaining traction as wearable devices like smartwatches and biosensors capture health data in real time. These devices enable proactive health management, particularly in the monitoring of cardiovascular diseases, diabetes, and other chronic conditions.

  • Fitbit (Google): Enterprise value: $1.57 billion; Total Funding: $84.24 million; Total acquisitions: 6. Google’s acquisition of Fitbit underscores the growing importance of consumer wearables in health monitoring.
  • Apple Health: Apple’s suite of health tools, including the Apple Watch, generates billions in revenue from its wearables and wellness platform.
  • Oura Health: Estimated revenue: $100-120 million; Total funding: $148 million. Known for its smart ring, Oura tracks sleep patterns and physiological metrics, helping users optimize health.

With wearables projected to grow exponentially from $38.85 billion in 2024 to $260.29 billion by 2032, this segment offers investors opportunities to tap into data-driven healthcare.

2. AI in Diagnostics

AI is revolutionizing diagnostics by enabling faster, more accurate medical assessments. With healthcare systems globally grappling with workforce shortages and physician burnout, AI diagnostic tools are helping to ease the load by automating and streamlining processes.

  • PathAI: Estimated revenue: $30-50 million; Total funding: $355.2 million. This Boston-based company applies AI to pathology to improve diagnostic accuracy.
  • Zebra Medical Vision: Estimated revenue: $5-15 million; Total funding: $54.50 million. A leading player in radiology AI, based in Israel, offering tools that assist in medical imaging analysis.
  • Aidoc: Estimated revenue: $22-84 million; Total funding: $267.60 million. A Tel Aviv-based company that provides AI-powered solutions for radiology, focusing on critical conditions like strokes and pulmonary embolisms.

The accuracy and scalability of these solutions are making AI diagnostics one of the most promising investment spaces in healthtech today.

3. Telemedicine and Remote Patient Monitoring

Post-pandemic healthcare has seen an explosion in telemedicine, with remote patient monitoring (RPM) becoming a cornerstone of chronic disease management. These technologies not only increase access to care but also lower healthcare costs by reducing hospital visits.

  • Teladoc Health: Estimated revenue: $2.6 billion; Enterprise value: $1.7 billion; Total acquisitions: 14; Total funding: $185.4 million. A leader in telemedicine and virtual care, Teladoc’s platform integrates AI to enhance remote care.
  • Livongo: Acquired by Teladoc for $18.5 billion in 2020, Livongo focuses on chronic condition management, offering remote monitoring solutions for diabetes and hypertension.
  • Biofourmis: Estimated revenue: $50-100 million; Total funding: $461 million. Singapore-based Biofourmis combines AI with RPM to offer personalized care solutions for heart failure and other chronic conditions.

Remote healthcare is here to stay, with AI and real-time data analytics driving precision and personalization in patient management.

4. AI-Powered Workflow Automation

Healthcare providers face unprecedented workforce shortages, driving the demand for automation solutions that streamline operations. AI-powered workflow automation is helping healthcare organizations optimize resource allocation, improve scheduling, and reduce administrative burdens.

  • LeanTaaS: Estimated revenue: $10-50 million; Total funding: $237.92 million. This California-based company focuses on AI-driven hospital operations, optimizing the use of critical resources like infusion chairs and hospital beds.
  • Notable Health: Estimated revenue: $25-40 million; Total funding: $119 million. Using AI to automate administrative workflows, Notable is improving efficiency in appointment scheduling, billing, and patient record management.
  • Qventus: Estimated revenue: $10-50 million; Total funding: $98 million. Based in California, Qventus uses AI to automate workflows across hospital systems, focusing on patient flow and resource optimization. 

This trend is crucial for hospitals and clinics to cut costs while maintaining high-quality care, making it a strategic investment opportunity.

5. Personalized Medicine and Genomics

AI is transforming the field of genomics, ushering in an era of personalized medicine where treatments are tailored to individual genetic profiles. Precision medicine holds the promise of more effective treatments and better patient outcomes, particularly in oncology and rare diseases.

  • Invitae: Estimated revenue: $480-$500 million; Enterprise value: $1.25 billion; Total acquisitions: 14. This genetics company provides advanced testing integrated into medical practices, enabling healthcare providers to deliver personalized, actionable insights for patients.
  • Illumina: Estimated revenue: $4.5 billion; Enterprise value: $22.02 billion; Total acquisitions: 21. A leader in genomic sequencing, Illumina’s technologies are widely used in personalized cancer treatments.
  • Tempus: Estimated revenue: $320.67 million; Total funding: $1.93 billion; Total acquisitions: 4. A Chicago-based company, Tempus applies AI to clinical and molecular data to personalize patient treatment plans, particularly in oncology.

Investments in genomics are paving the way for precision medicine, a sector that is expected to see continued growth as technology and biology converge.

Deal Sourcing with AI

For investors exploring these fast-growing sectors and products, it can be a challenge to keep up with the various evolving healthtech trends. And the data out there is too overwhelming to sift through by hand. AI is the game changer for deal sourcing, with platforms like Finder using advanced AI algorithms that enable investors to quickly pinpoint companies that match their investment criteria.

Whether you’re seeking detailed financial metrics, enterprise value, or M&A history, Finder provides proprietary insights that competing platforms in the sector can’t match. In an industry where success is measured by your ability to collate and interpret data on companies that are potential deals, AI deal-sourcing tools are indispensable for making informed, high-conviction investments.

Healthtech investment is an exhilarating frontier, where science fiction meets reality. With AI driving everything from diagnostics to hospital automation, the sector is poised for explosive growth. For investors, the key is staying ahead of the curve – and making sure the tools you use to source deals are as cutting-edge as the technologies you’re investing in.

Cyndx offers the best deal-sourcing tools in the industry. Contact us now to learn more.