2022 Middle East & North Africa Health Tech 50

The Middle East & North Africa Health Tech 50 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.

Israel is a leading player in health technology globally and its vibrant startup community accounts for over three quarters of the 2022 Middle East & North Africa Health Tech 50. The makeup of the 2022 cohort reflects the region’s strength in medical devices, health IT and platforms focused on the utilization of artificial intelligence and machine learning. Markets such as Egypt and the United Arab Emirates are better represented in this year’s list with a more diverse group of organizations compared to 2021, which was dominated by Israeli medical device startups.

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.

The 2022 MENA Health Tech 50 reflects a thriving startup ecosystem.

The 2022 Middle East & North Africa Health Tech 50 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’re able to identify the areas of the startup community attracting both funding and entrepreneurial focus. The region’s strength in devices is clear to see but the importance of areas including Remote Monitoring, Diagnostic Technology and Genomics is also apparent. Organizations that were able to raise substantial sums of capital in the past 12 months include: Aidoc (AI medical imaging platform); Forsight Robotics (robotic surgical platform for ophthalmic procedures); Theranica Bio-Electronics (wearable device); Oncohost (clinical-stage biotechnology) and MDClone (data analytics).

Exhibit 2

Deep Dive the List

Customers can deep dive the open-source list on the platform. Request a demo to learn more.

Deep Dive

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Increased focus on prevention and treatment led to a more diverse cohort in 2022.

The increased prevalence of remote treatment during the pandemic has filtered through to the organizations attracting funding across the globe. In the MENA region this is reflected by the reduction in Hardware startups from 53% of the 2021 cohort to just 22% in 2022.

Exhibit 3

Israel remains the major player in the region but success stories are also found in the UAE and Egypt.

Exhibit 4

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The 2022 Middle East & North Africa Health Tech 50 includes a greater proportion of D2C startups than 12 months ago.

The region’s Health Tech startups are still predominantly focused on the B2B market but there has been a significant shift in 2022 towards direct-to-consumer models, with this year’s cohort representing many more organizations focused on D2C propositions.

Exhibit 5

The past 12 months has seen a significant shift in the age profile of startups in the region.

More than a third of organizations in the Middle East & North Africa Health Tech 50 were founded within the past three years, marking a dramatic shift from the 2021 cohort. The next generation of Health Tech startups are helping to drive diversity across the startup, with each of the following organizations formed in 2020 or later: Imagene AI (AI-based genomic testing); WEMA Health (weight loss medication & coaching); Klaim (Fintech platform for healthcare); Takalam (online counseling platform) and Sotech (health tech and IoT solutions).

Exhibit 6

Track the 2022 Cohort

HolonIQ customers can track the most promising Health Tech startups from the Middle East & North Africa on the HolonIQ Market Intelligence Platform. Look for the 2022 MENA Health Tech 50 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.