2022 Europe Health Tech 200

The Europe Health Tech 200 is HolonIQ’s annual list of the most promising startups from across digital health, biotech, medtech and other areas where entrepreneurs are driving healthcare innovation.

Startups focused on developing business models based around Research make up over a quarter of the Europe Health Tech 200, reflecting the region’s historic strength in clinical discovery and intellectual property development - but also the burgeoning biotech community in Europe. Other areas of the market are well represented with a new wave of startups focused on prevention and early diagnosis attracting capital and entrepreneurial zeal. European governments’ response to the Covid-19 pandemic has driven startup activity across the board with Europe’s Health Tech ecosystem increasingly active since the start of 2020.

Exhibit 1

Download the Market Map. Companies are categorized by their main area of focus following the globalhealthcarelandscape.org. Categories in the market map are not mutually exclusive.

Europe’s diverse and balanced Health Tech startup ecosystem shows the region’s strengths.

The 2022 Europe 200 is mapped to the HolonIQ Global Healthcare Landscape, an open-source taxonomy for the future of health and wellness.

By viewing the 2022 cohort against the taxonomy’s ‘clusters’ we are able to better understand where the attention of entrepreneurs and investors in the market is being concentrated. The scale of the region’s Research and Health Discovery community is clear to see but areas such as Genomics, Bookings & Referrals and Remote Monitoring are also clusters with significant activity over the past 12 months. Indeed, despite a cooling a market there are a number of European health startups that have raised significant sums in the past year, including Doctolib (appointment management system); Kry (European-wide telehealth platform); Cera Care (home health staffing business); Alan (health insurance disruptor) and Patronus Group (Developer of a smart home emergency device).

Exhibit 2

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Europe’s strength in Research is apparent in the 2022 cohort, with startups focused on Prevention also prevalent.

By examining the Europe Health Tech 200 at a sub-sector view we are able to see how the distribution of startups has changed over the past 12 months. Compared to the 2021 cohort there is a slight shift in some categories but the market remains relatively stable and well distributed across the different aspects of the Global Healthcare Landscape Taxonomy.

Exhibit 3

Both the UK and Germany increased their share of startups represented on the Europe Health Tech 200.

The Europe Health Tech 200 includes startups from across 18 nations but two countries - the United Kingdom and Germany - represent more than 50% of all organizations in the 2022 cohort. However, despite accounting for only 11% of startups on the list, the French startup market is responsible for a number of the largest and most successful startups in the European market over the past 12 months.

Exhibit 4

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The split of business models is well balanced with direct-to-consumer plays becoming more common in Europe.

The Covid-19 pandemic has led to many changes in healthcare globally - both temporary and systemic - and there is a clear trend in this year’s data where startups across Health Tech are focusing more on the direct-to-consumer market. The European startup ecosystem remains a B2B-first region, but the proportion of consumer-focused startups is clearly on the rise.

Exhibit 5

Startups in the 2022 Europe Health Tech 200 are noticeably younger than last year’s cohort.

The 2021 Europe Health Tech 200 included nearly 60 organizations that were incorporated over a decade ago. This year’s cohort represents a significantly younger group of startups, with several organizations less than three-years-old gaining momentum, including: Lottie (comparison site for aged care); Leyden Labs (developer of respiratory virus treatment); Vamstar (healthcare supply chain marketplace platform); Buddyfit (mobile-app for physical fitness ) and AVI Medical (booking and referrals platform).

Exhibit 6

Track the 2022 Cohort

HolonIQ customers can track the most promising Health Tech startups from Europe on the HolonIQ Market Intelligence Platform. Look for the 2022 Europe Health Tech 200 list in the Lists tab of the Organizations page. Request a Demo if you are not a customer and would like to learn more. Track the 2022 Cohort.