2022 Australia & New Zealand Health Tech 100

HolonIQ’s annual list of the 100 most promising Health Tech startups from Australia and New Zealand.

Health Intelligence Unit

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October 27, 2022

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 and New Zealand’s Health Tech startup community is impressively diverse, with a range of organizations and entrepreneurs focused on disrupting markets locally and globally. The Australia & New Zealand Health Tech 100 reflects a balanced healthcare ecosystem. A number of startups in the medical device market are gaining momentum (and raising capital) and organizations focused on research and technological systems are also performing strongly. The 2022 cohort also shows the increasing focus on prevention in healthcare, with physical fitness and wellness prioritized as we emerge from the pandemic.

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 distribution of startups across the Global Healthcare Landscape Taxonomy reflects the range of activity in the region.

The 2022 Australia & New Zealand Health Tech 100 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 it is clear the region has a vibrant startup community. The impact of the pandemic is apparent with a burst of activity in ‘virtual first’ business models post 2020 but Australia & New Zealand’s historic strengths in medical devices, health research and technology is also evident - especially among the more established startups in the 2022 cohort. Global healthcare funding markets have tightened in recent times but the past 12 months has seen a range of organizations in the region successfully raise capital, including: Saluda Medical (global medical device company); Harrison.AI (clinician-led healthcare AI company); Eucalyptus (stable of healthcare brands); Sonder (organizational wellbeing and safety) and Seer Medical (clinical wearable device).

Exhibit 2

Deep Dive the List

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

Research, Systems and Hardware account for half of the startups in the 2022 cohort.

By taking a step further back - and considering the 2022 list at a sub-sector view - the balanced nature of the startups ecosystem is apparent. Organizations focused on Research, Systems and Hardware represent just over half of the startups in the market but there is also strong representation from those delivering healthcare services directly, whether across Prevention, Treatment, Diagnosis or Care.

Exhibit 3

Australia remains the major player in the region, dominating the 2022 list.

Exhibit 4

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Consumer-focused business models are increasingly important in the Australian & New Zealand markets.

By viewing the Australia & New Zealand Health Tech 100 by primary business model we can see there is a shift towards direct-to-consumer propositions in this year’s cohort. The increasing importance of prevention in healthcare and changing consumer attitudes to personalized health is driving a shift in entrepreneurial focus. However B2B-focused startups remain a substantial (45%) slice of the startup scene in the region.

Exhibit 5

The Australia & New Zealand Health Tech 100 has an older profile than many other regions.

Compared with other regions the age profile of companies in our 2022 cohort skews older than other markets. For the second year in a row, over 15% of the featured companies are over 10-years-old but continue to raise capital and gather momentum in the market. Nevertheless there is also a strong crop of organizations founded in the last three years - many in response to the Covid-19 pandemic and the subsequent shifting attitudes towards the role of technology in healthcare. Startups in the region that have been founded post-2020 and have built a significant following include: Alyte (social fitness application); Lived (connecting addicted people to care); Chemist2U (online pharmacy); Fertilis (developer of vitro fertilization technology) and RecoveryVR (VR based rehabilitation).

Exhibit 6

Track the 2022 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 Australia & New Zealand Health Tech 100 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.

Deep Dive the List

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

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