Market Intel: Why Telehealth, Digital Therapies Will Provide Mental Health Support Beyond COVID-19 Crisis
BY MARION WEBB Executive Summary In this second part of a two-part series focusing on mental health tech, Medtech Insight highlights behavioral digital health companies that have attracted investors’ attention. Part one focused on transcranial magnetic stimulation.
46 / September 2020
Mental health has taken center-stage during the ongoing COVID-19 pandemic crisis with millions of people flocking to digital technologies such as teletherapy and therapy apps to help them cope with mental stressors. Many experts believe that the digitization of health care and behavioral health, which has seen lightning-fast adoption among consumers and providers during the pandemic, enabled in large part by the removal of regulatory barriers, will drive innovation and investment opportunities. According to venture capital firm Rock Health’s midyear report, in the first half of 2020, digital behavioral health companies received $588m in funding, up from $539m in 2019 (compared with 2017, were $273m was distributed), putting 2020 on track for the largest funding year ever. (Also see “Rock Health Reports Record Digital Health Funding Of
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