World's Best Digital Health Companies 2024

World's Best Digital Health Companies 2024

Digital health is a burgeoning global industry. If you have a remote appointment with a doctor or other health care provider, wear a medical device or download electronic medical records, you've employed a digital health product.

Data intelligence platform Statista predicts the global digital health market will exhibit a compound annual growth rate of more than 9 percent through 2028, when it will arrive at a projected market volume of $275 billion. Such tremendous growth can create confusion. How can would-be patients or medical providers assess which products, services or data-suppliers are most reliable and best able to meet their needs?

To help identify the new services and technologies that are transforming health care, Newsweek is partnering with Statista for the inaugural ranking of the World's Best Digital Health Companies. The list includes 400 companies based in 35 countries; they represent seven industry segments including diagnostics, health records, medical management and telehealth.

Each firm's score was based on an analysis of several areas, including its financial performance and traffic data for its websites and apps. In addition, market intelligence company Holon IQ provided data on the impact of each business's product or service and the expertise of its leadership.

We hope this ranking helps all health care industry stakeholders and patients identify the digital health companies that make the most sense for them.

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METHODOLOGY

For the first time, Newsweek and Statista are awarding the "World's Best Digital Health Companies." With the digital health industry globally on the rise, this top list aims to highlight the leading innovative companies worldwide. Digital Health companies are defined as companies who primarily offer digital products or services within the healthcare sector.

In total, 400 companies from over 35 different countries and across seven market segments are included in the list: Data Analytics, Diagnostics, Health Records, Medical Management, Prevention, Telehealth and Treatment.

To compile the top list, Statista conducted comprehensive research on over 3,000 companies, utilizing desk research, an online application form, and a partnership with the data and market intelligence company HolonIQ.

From the results of the research and analysis, three evaluation pillars were defined, with a score calculated for each of them:

1. Financial performance score: This score is based on the analysis of financial data including metrics like revenue per employee or funding information. The financial performance score constitutes 55 percent of the total score.

2. Impact score: This score is based on impact data such as the quality and impact of their product or service, as well as the expertise of the leadership team provided by Holon IQ. The impact score constitutes 25 percent of the total score.

3. Online engagement score: This score is calculated based on traffic data for company websites and apps such as monthly active users and number of downloads. The impact score constitutes 20 percent of the total score.

Companies with the highest total score within their market segment were awarded as the World's Best Digital Health Companies.

The list is composed of companies from seven different market segments:

1. Data Analytics: This segment comprises companies that leverage digital tools and algorithms to analyze health-related data, enabling insights regarding metrics such as population health trends as well as predictive analytics.

2. Diagnostics: Within these segments are companies that create digital solutions for assessing and diagnosing medical conditions, including medical imaging analysis, or monitoring parameters for early disease detection.

3. Health Records: In this segment, there are companies that develop digital platforms for storing, managing, and sharing electronic health records and patient information securely.

4. Medical Management: Included in this segment are companies that create digital technologies designed to optimize healthcare delivery including management of physician practices.

5. Prevention: This segment encompasses companies that focus on digital tools aimed at promoting health and wellness, including behavior change apps, preventive programs, and digital coaching.

6. Telehealth: Companies in this area include digital platforms and technologies enabling remote healthcare delivery, including virtual consultations.

7. Treatment: This segment consists of companies that involve digital solutions for delivering and managing medical treatments, including digital therapeutics.

The selection of the companies and the definition of the evaluation criteria were based on independent journalistic criteria of Newsweek and Statista. The evaluation was carried out by the statistics and market research company Statista. Newsweek and Statista make no claim to the completeness of the companies examined.

To be included in the top list is a positive recognition based on research of publicly available data sources at the time and information received via an application process.

In addition, events after March 01, 2023, were not considered in the analysis. As such, the results of this list should not be used as the sole source of information for future deliberations. The information provided through this top list should rather be considered in conjunction with other available information about a company.

The quality of companies not included in the top list is not disputed, and we cannot guarantee the accuracy of every data point.

Statista R Text:

Statista R is a world leader in the creation of company, brand, and product rankings and top lists, based on comprehensive market research and data analysis: Statista R recognizes the best. With a team of over 100 expert analysts and in cooperation with more than 40 high profile media brands across all continents, Statista R creates transparency for consumers and business decision makers and helps companies build trust and recognition across a plethora of industries and product categories. Visit r.statista.com for further information about Statista R and our rankings.

Statista R is a division of Statista. The leading data and business intelligence portal provides an extensive collection of statistics, reports, and insights on over 80,000 topics from 22,500 sources in 170 industries. Find out more at statista.com.

Download the full methodology here.