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Research on Healthtech Startup Ecosystem in the Baltics

The Baltic Healthtech Map 2024 aims to thoroughly explore the growing healthtech market and innovative companies in the Baltic region. Our research gathers data on various projects, technologies, startups, and key stakeholders focused on improving quality of life, healthcare access, medical tourism, longevity, and fostering a supportive ecosystem for healthtech startups. The result will be the Baltic Healthtech Map 2024 — a unified resource for everyone in the ecosystem.

We are surveying founders of innovative companies, innovation support representatives, service providers, development and startup support institutions, and venture investors.

YOUR PARTICIPATION IN THIS SURVEY IS HIGHLY ENCOURAGED AND WILL TAKE LESS THAN 15 MINUTES.

OBJECTIVES OF THE RESEARCH:

– Introduce stakeholders and professionals in healthcare, health preservation, and life quality sectors to innovative technologies being developed or already in use in the Baltics.

– Showcase a range of solutions addressing modern healthcare challenges.

– Create a comprehensive directory of services and infrastructure available to innovative healthcare companies in the Baltics, promoting future collaborations and joint projects.

– Identify growth opportunities and potential areas for national specialization in the global market. For example, we see great potential for developing medical tourism in the Baltics, which will require collaboration among diverse stakeholders and advanced healthcare technologies.

Your survey responses will provide a crucial snapshot of the current state of the healthtech market, helping track its progress and encouraging interaction and collaboration among participants in the coming years.

Take part in the research

CATEGORIZATION OF COMPANIES:

Our research methodology is rooted in a comprehensive analysis of innovative companies within Baltics and a study of global trends in the Healthtech market.

To provide a multifaceted view of the modern healthcare innovation ecosystem, we have categorized technologies into 11 sections:

Technologies and solutions grouped by users:
– patients,
– doctors,
– clinics and hospitals,
– pharmacies (Pharma Supply Chain),
– pharmaceutical companies
– insurance companies,
– others

Description (main technologies involved)

For doctors: Assisted Prescribing, Clinical Decision Support, Computer-Assisted Physician Documentation

For pharmacies (Pharma Supply Chain): Asset Tracking, Autonomous Pharmacy, Blockchain for Shipping, Cold Chain Packaging, Digital Pharmacy, Inventory Management Software, Last-mile Delivery, Medication Adherence, Price Transparency, Robotic Fulfillment, Visibility Platforms

New paradigm of the development of modern medicine is the “4Ps” model, based on four principles: “prediction” – identification of predispositions, “prevention” – prevention of the possible development of a disease by leveling risk factors, “personalization” – individual approach to the patient with special attention to genetic predispositions, “participation” – motivated participation of the patient, involvement in the treatment process.
4P medicine: Prediction, Prevention, Personalization, Participation

On the processes of providing medical services

Technologies and solutions grouped by the type of service:
– Disease prevention and Health Promotion,
– Lab Diagnostics & Screening,
– Hospital treatment,
– Home treatment,
– Rehabilitation,
– Home care

Description (main technologies involved)

Lab Diagnostics & Screening: Genetic diagnostics, Point-Of-Care Diagnostics

Home care: Full-stack Home Care, Telehealth, Homecare workflow, Dialysis & Infusion Therapy, Care Management Platforms, Medication & DME Fulfillment, Remote Patient Monitoring, Virtual Care, In-home Diagnostics, Home Care Management Platforms, Patient Directed Scheduling & Navigation, Care Coordination & Care Management

Rehabilitation: Post-Stroke & Physical Rehabilitation, Rehab and Mobility-Assist Robotics

This section covers technologies for drug invention, dietary supplements, supporting development processes, digitalization of processes for pharmaceutical companies and pharmacies
– Drug discovery
– Drug-delivery
– Digital pharma
– Genetics
– Real World Data (RWD)
– Real World Evidence (RWE)
– Rare disease, orphan disease
– 3d-bioprinting
– Other

Description (main technologies involved)

Drug discovery: 3D Bioprinting, Organoids& Organ-on-a-chip, AI-Powered Discovery, Single-Cell Analysis, Bio-Simulation, Protein Discovery & Design, Synthetic Biology

Drug-delivery

Digital pharma

Genetics: Gene Editing, Genetic Screening & Testing, Molecular Diagnostics, Genomic Profiling

Real World Data (RWD)

Real World Evidence (RWE)

Rare disease, orphan disease: Rare diseases are those with an incidence of less than one in every 2,000 people in Europe. Orphan diseases are poorly researched conditions, diseases for which specific treatments are not yet known, and diseases of limited interest to scientists and doctors. Patients with such diseases often feel neglected and “lost” in the world of health care.

3d-bioprinting

Other

These markets highlight various analytical resources, such as Sifted, CB Insight and others, to attract the attention of investors.

Description (main technologies involved):

AgeTech/SilverTech – Solutions for people 60+

FemTech and Men’s health – Women’s health technology: Fertility (incl. Screening & diagnostics and Tracking & monitoring), Gynecological health, Menstruation, Menopause, Sexual health & wellness (incl. Contraceptives), Maternal & fetal health. Technology for men’s health

EduMedTech – educational technologies for healthcare

Techbio – The focus is on the ‘technology’ aspect of biotechnology – think of start-ups developing platforms and infrastructure to improve drug discovery, create new food ingredients or reduce our impact on the climate.

Dentaltech – Transforming dental care. Dental prevention and treatment technologies

Mental health – Mental health

Rehabtech – Technology for rehabilitation

Digital health – Digital Health

Digital Therapeutics – Digital therapy

Telehealth (telemedicine) – Health Care Delivery Using Telecommunications Technology: Telemedicine Providers, Platforms & Marketplaces (incl. Hybrid In-Person/Virtual Care), Telepharmacy, Teletherapy, Coaching & Care Management (incl. Direct-to-Consumer), Virtual/Digital Care Enablement, Remote Monitoring, Screening and Diagnostics, Teletherapy, Wellness Coaching and Chronic Care Management, Telehealth Software and Connectivity Solutions

Clinical Trials Tech – Clinical Trials Technology

Foodtech – Healthy Nutrition

SportTech / Wellness – Technology for an Active Lifestyle

– Oncology
– Diabetes (Type 1 & 2)
– Orphan disease
– Behavioral health (incl. Anxiety & Depression, Sleep)
– Injuries
– Obesity
– Substance Abuse and Narcology, Smoking Cessation
– Chronic Pain
– Оther

– Brain disease / Neuroscience
– Ophthalmology
– Heart diseases / Cardiology
– Digestive / Gastroenterology
– Lung diseases
– Kidneys and liver
– Musculoskeletal & Orthopedics
– Nervous system
– Genitourinary system
– Other

Description (main technologies involved)
Brain – Global incidence and prevalence of neurological disorders such as dementia, epilepsy, Parkinson’s disease, Huntington’s disease, Alzheimer’s disease, headaches, migraine, multiple sclerosis, neuroinfections, stroke and cerebral palsy, mental health (Anxiety & depression, Sleep, schizophrenia, etc.)

– Idea, prototype, experimental proof of concept (TRL 1-3)
– Laboratory sample (TRL 4)
– Technology in relevant environment. Preclinical tests (TRL 5)
– Technology demonstrated in relevant environment. Phase 1 clinical trials (TRL 6)
– Certification and Pilot Phase (TRL 6)
– System prototype demonstration in operational environment. Phase 2 clinical trials (TRL 7)
– System complete and qualified. Certificate availability (CE mark). Sales validated (TRL 8-9)
– Other. The level of readiness is uncertain

– Sensors and wearable devices
– Equipment

Description (main technologies involved)

Section includes wearables and equipment for:
– Remote Patient Monitoring
– Point-of-care Testing
– Virtual Reality Diagnostics & Therapeutics
– 3D and Bioprinted Devices
– Post-stroke & Physical Rehabilitation
– Smartphone-based Diagnostics & Therapeutics
– Wearables & Sensors
– Surgical Intelligence
– Computer-aided Diagnostic Imaging
– Glucose Monitoring Technology (Noninvasive Glucose Detection)
– Wireless Connectivity
– Bioelectronic Neuromodulation
– Robotic and Image-guided Surgery
– Rehab and Mobility-Assist Robotics

– AI/ML for Healthcare
– AR/VR
– Medical Information Systems (MIS)
– IT infrastructure
– Cybersecurity
– Hospital care
– Clinical workflow
– Digital biomarkers
– Clinical Decision Support
– Digital Twins & Biosimulations
– Other

Description (main technologies involved)

AI/ML for Healthcare

– Admin & Operations (incl. Digital Front Door, RPA, Underwriting & Claims, Revenue Cycle Management, Patient Engagement (Payers), EHR Management and Virtual Scribes)
– Monitoring & Diagnostics (incl. Radiology AI, Pathology AI, Remote Patient Monitoring, Point-of-Care (in clinic))
– Tech Infrastructure (incl. DataOps & Data Science Platforms)
– CareDelivery (incl. Specialty Care, Surgical Tech, Chronic Disease Management, ICU Tech, Primary Care)
– Drug Development & Research (incl. Drug R&D, Medical Data Repositories, Clinical Trial Tech)
– Medical Imaging AI

IT infrastructure
– Quantum Computing
– Cloud R&D Software

Cybersecurity
– Secure Clinical Communication
– Endpoint Security
– Threat Intelligence
– Managed Security
– Third-Party Risk
– Network Security
– SIEM
– Secure Collaboration
– Data Security
– Website Security
– Vulnerability Management
– Cloud Security
– Human Element
– Data Privacy (HIPAA)
– Medical Device Security

Hospital care
– Data&information management
– Diagnostics (Pathology & Radiology)
– Patient intake & virtual waiting rooms
– Referral management
– Revenue cycle management
– Scheduling
– Self-trage & navigation
– Surgical intelligence
– Patient flow
– Patient monitoring
– Patient Data & Analytics

Clinical workflow
– Electronic Health Record Augmentation
– Patient Flow & Command Center
– Provider Staffing & Human Capital Management
– Referral Management
– Pre-Visit Patient Management
– Virtual Assistants
– Provider Search & Scheduling
– Patient Engagement
– Population Health Analytics
– Risk Adjustment Technology
– Utilization Management
– VBC Contract Management
– Clinical Exam Tools
– Self-Triage & Navigation
– Cost Reduction (incl. Care Management & Coordination, Managed Care, Utilization Management, Value-Driven Providers, Remote Patient Monitoring)
– Administartive Tools (incl. Populations Health Analytics, CQM Capture, SDOH Screening & Refferal Management, Contract Management, Risk Adjustment Coding Capture)

Digital biomarkers
– Vital signs
– Sleep
– Mobility and activity
– Visual
– Auditory
– Data analytics & clinical trials platforms
– Sweat & saliva
– Urine & feces
– Blood testing (incl. Blood glucose)

– Innovation recipient/implementator (companies interested in collaboration with startups)
– Services (IP registration, certification, contract manufacturing, IT)
– Resources (accelerators, Venture builder, VC, grantors….)
– Solutions piloting sites (clinics, insurance companies,….)
– Startup Development and Support Institutions
– (Associations, clusters, government agencies, media)
– Institutes, laboratories, research centers (training + research)
– Regulator
– Other

We aim to group companies by their specific areas of operation, making it easier to identify different products and services. If a company operates in multiple sectors, we categorize them based on available information from their websites and our expertise.

Take part in the research

As the healthcare ecosystem evolves, the map will be updated. We are committed to improving the map’s structure and detail, especially where multiple companies operate in the same field. If you think a category is missing or want to suggest a new one, please contact us at hello@4pmventures.com, and we will consider your input.

CRITERIA FOR INCLUSION ON THE MAP:

– Companies primarily focused on healthcare technology, serving stakeholders (suppliers, patients, regulators), or working in healthcare and life sciences (pharmaceuticals, medical devices), or offering services/collaborations with development-focused companies.

– A physical presence in the Baltics (mandatory for startups), through a headquarters, representative office, or branch office.

– Providing relevant information, including a website, contact person, contact details, a brief self-description, and a logo.

– A team with at least two members.

If you believe your company should be included on the map or if you want to update the information displayed, please fill out the form provided.

Take part in the research

We hope the Baltic Healthtech Map 2024 will provide a comprehensive view of startups and the scope of medical technology development in the Baltics, showcasing the region’s readiness and potential to attract innovative enterprises from around the world.

Thank you for collaborating with us in this important effort!