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Updated: Feb 16, 2023

Over the last decade, health tech startups in Latin America have set the standard to revolutionize specialized undertakings for the development of technological platforms that offer innovative, digital and even omnichannel solutions with the goal of helping improve the quality of life and health of the population, in most cases, with the help of the medical community.

As mentioned on LATAM Health Tech 50 2022 by HolonIQ, there are five countries which have introduced the most digital health, biotechnologies, and medical technologies emerging companies: Brazil with 53%, and Mexico with 24%. Mexico had a 70% growth compared to last year, which leads us to believe it might become the region’s leader.

Argentina stands on third place with 10%, followed closely by Chile with 6%, just in front of Colombia with 4%. It’s just as notable that 28% of companies focus on treatment, 16% of them focus on prevention, and 12% on diagnostics; companies focused on research represent 10%.

The 2020 pandemic triggered the surge of many startups on the lists: 40% were launched during the last 3 years and almost 90% of them have been in operation for less than six years.

The previous numbers listed show there are more and more entrepreneurs in search of making a difference in health areas within their countries while having the goal of expanding and reaching other key markets in Latin America. This is why Venture Capital specializes in aiding these young and disruptive organizations.

The Mexican fund healthCO is an example of this, having a wide portfolio with businesses like Prixz, a digital farmacy that’s about to become a unicorn. In precision medicine, Novagenic stands out, whereas Prescrypto will dazzle this year with its 3.0 version of electronic prescriptions, to mention a few.

Additionally, digital health marketplaces that can be found in the country, like Zubia, are becoming trends, and will facilitate software and applications to physicians, patients, hospitals and companies all in one place.

Resembling pharmaceutical companies with decades of experience, health techs have currently an opportunity to develop and build a strategic communication, come out of obscurity, and set themselves as categorical examples amongst their peers. In addition to this, founders and leaders must receive crisis management training and become able to handle and contain possible crises that might compromise the operation, credibility, trust and reputation of their prized startups.

Note: the HISTORIAS DE SALUD column was published in the Diálogo Ejecutivo magazine. January -February 2023. Number 184. Publication edited by AT Editores. All Rights Reserved APE Editorial

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