SEA Health Tech Investment Insights

Digital health platforms and telehealth were the sub-verticals with most venture activity Number of Ventures by Sub-vertical & Country Digital health platforms 5 1 6 4 Telehealth and remote care 3 4 2 4 Healthcare supply chain and/or operational digitization 2 1 1 1 Biotechnology 2 Device and automation tech 1 1 Electronic health records 1 0 5 10 15 Indonesia ■Vietnam Thailand Philippines 20 20 • Most ventures were found in sub-verticals focused on making basic healthcare more accessible and cost- effective - the major challenge across the SEA countries analyzed. We saw significantly fewer ventures in spaces where tech sophistication would be the fundamental differentiator (e.g. AR/VR, Al or biotech), although there were some in Thailand (the most developed healthcare market of the four). The telehealth subvertical in particular tended to be crowded with ventures with relatively similar technology, products and business models. In B2B space, there is a large potential opportunity for ventures offering healthcare digitization/electronic health record management capabilities, given rudimentary levels of digitization in most health organizations (particularly in the public sector). However, it's unclear where local ventures' competitive advantage over established foreign players lies in this space. INSEAD 21

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