The Australia & New Zealand Health Tech 100 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.
Australia & New Zealand’s Health Tech startup community is impressively diverse, with a range of organizations focused on Treatment and Hardware but also digital health. The Australia & New Zealand Health Tech 100 reflects a balanced healthcare ecosystem. Startups focused on telehealth and devices are emerging and also gaining momentum. The 2023 cohort also shows the increasing focus on Prevention & Hardware in healthcare.
ANZ’s emerging digital health scene has stuttered but is building momentum once again.
The 2023 ANZ Health Tech 100 is mapped to the HolonIQ Global Healthcare Landscape, an open-source taxonomy for the future of health and wellness. HolonIQ’s system of classification provides an in-depth understanding of startup activity across the region and allows us to analyze the strengths of the health ecosystem. By viewing the ANZ 100 cohort against the taxonomy’s ‘clusters’ we are able to better understand where both capital and innovation is currently focused. Indeed, despite a drop in valuations, a number of ANZ health startups have raised significant sums in the past year, including; Eucalyptus (telehealth infrastructure platform), Midnight Health (telehealth and pharmacy platform), Eyetelligence (AI clinical support), Mindset Health (digital therapeutics), and Carina Biotech (developer of immunotherapies).
Exhibit 2
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Research is falling away in favour of startups focused on Treatment, Hardware and Prevention.
Organizations focused on Treatment, Hardware and Prevention represent just over half of the startups in the market but there is also strong representation from those delivering healthcare services directly, whether across Research, Diagnosis or Care. Compared to the 2022 cohort there is a significant shift in the number of startups active in Research.
Exhibit 3
Direct-to-consumer models are increasingly important in the Australian & New Zealand markets.
By viewing the Australia & New Zealand Health Tech 100 by primary business model, there is a shift towards direct-to-consumer propositions (57%) in the cohort. Notably telehealth startups are emerging and slightly increase in prevention in these regions. Elsewhere there are signs that a new wave of diagnostic technologies point-of-care testing solutions are starting to take root in the region, otherwise the market remains relatively stable and well distributed across the different aspects of the Global Healthcare Landscape Taxonomy.
Exhibit 4
Nearly two-thirds of all startups in 2023 cohort younger than 6-years-old.
The sharp dip in private funding globally is reflected in the ANZ Health Tech 100, which features an older and more established range of companies compared to 12 months ago.Over 40% of the 2023 list were founded seven years ago or more. Nevertheless there are also an exciting number of companies formed in the last three years - post-Covid - who have been able to gain real traction in the ANZan market, including: Dossy (aged care video calling); Homeable (disability smart home tech); More Good Days (pain management platform; Human (health data API integration); Neurode (cognitive performance platform).
Exhibit 5
Track the Cohort
HolonIQ customers can track the most promising Health Tech startups from Australia and New Zealand on the HolonIQ Market Intelligence Platform. Look for the 2023 Australia & New Zealand Health Tech 100 list in the Lists tab. Request a Demo if you are not a customer and would like to learn more.
Exhibit 6
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