Sep 16, 2024

Tech Collective The number and variety of healthtech startups in Southeast Asia are still growing as the region becomes more comfortable with innovative and technological medical care solutions. According to Statista Research, the digital health market will reach USD 6.70 billion in 2024 and grow by 9.86% to a projected market volume of USD 10.72 billion by 2029. The industry has become vital since the COVID-19 pandemic. It also democratises healthcare access, detects potential diseases through predictive analysis, and makes doctor consultations and treatments more convenient. Moreover, these startups and technology, such as artificial intelligence, are revolutionising healthcare in the region, enhancing conventional medicine, personalising treatment plans, enabling remote monitoring and intervention, and providing educational resources to patients. Here are five startups in healthtech to look out for: HealthifyMe Nutrition and fitness app HealthifyMe provides users with AI-powered diets, nutritional information, detailed workout plans, weight trackers, and real-time health metrics. It connects users to internationally certified personal fitness trainers for muscle building, weight loss, and post-injury recovery, as well as yoga instructors for stress management, improving flexibility, and staying fit despite previous injuries. The app also offers a community feature where users can share their progress and get support from others. HealthifyMe has over 40 million users and is looking to expand globally. It earmarked its last USD 30 million in funding for acquiring talent and boosting its AI capabilities. It has been successful in 10 funding rounds with investors such as Unilever Ventures, LeapFrog Investments and Sistema Asia Capital. Halodoc Medical solutions platform Halodoc enables users to chat with doctors, update personal wellness information, buy medication in the health shop, book a hospital appointment, and more. Patients can get insurance benefits directly for the platform services by entering their phone numbers or creating a new account on Halodoc. Health Support covers things such as stress checks, menstrual and pregnancy calendars, depression and anxiety disorder tests, BMI calculators, and heart and diabetes risk identifiers. In a Series D round, Halodoc raised USD 100 million from investors like Novo Holdings, Astra Digital, Bangkok Bank, and UOB Venture. The company has laid off some workers to create a more sustainable business model. The latest funding will enable Halodoc to integrate with the Astra Group, helping more people access quality healthcare. Doctor Anywhere The health and wellness platform Doctor Anywhere makes healthcare accessible and efficient through services such as virtual clinics, doctor searches, and a marketplace for buying nutrition supplements, lifestyle, skincare, and fitness products. Other solutions include medication deliveries, video consultations, health screenings, medical home care services, and certified mental wellness counsellors and psychologists. It also offers a chronic disease management program for long-term management of lifestyle illnesses, such as diabetes. Doctor Anywhere serves 2.5 million patients in six Southeast Asian countries and has investors like Novo Holdings, Square Peg Capital, and Asia Partners Fund Management. It acquired ASIAN Healthcare Specialists and secured USD 40.8 million to scale up its healthcare solutions and expand its specialist care services. Docquity Healthtech network Docquity is Southeast Asia’s largest community of doctors. It is a place where medical experts can exchange ideas, receive educational resources, and attend virtual world-class speeches on health. It has 400,000+ healthcare professionals onboard, with more than 42,000 clinical experiences discussed. Users can also take courses and earn certifications. Docquity lifts the barriers to case collaboration and provides up-to-date medical information to keep doctors knowledgeable. The company raised USD 44 million in a Series C round and has investors like KDV Capital, Global Brain Corporation, iGlobe Partners, and Infocom. The funding was for Docquity to expand the community in its current markets. Speedoc End-to-end care system Speedoc aims to make healthcare timely, easily accessible, and convenient using fully certified medical professionals. It offers various services, such as video consultations, at-home visits, remote monitoring, follow-ups, and specialist referrals. Through its innovative technology, procedures, and medical data analysis, Speedoc pushes health and treatment into the future. It raised USD 28 million in a Series B round, led by Mars Growth Capital and Bertelsmann Investments. Other investors include Vertex Ventures Southeast Asia & India, Shinhan Venture Investment, and Liquidity Group. The company needed the money to provide quality home-based medical care in the form of virtual hospitals. Future of healthtech in Southeast Asia Even though these startups in healthtech show positive outcomes for users, the industry still faces a few challenges . First, high pricing may limit user access in poor or rural areas. Second, the increase in cybercrime raises concerns about data and privacy. Third, the infrastructure varies widely, and healthtech startups in Southeast Asia may need help to operate seamlessly in underdeveloped areas. Despite these problems, the industry has great potential to improve people’s lives and can thrive with enough investment and government support. Share this: