Baltic Life Science Venture Builder
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Baltic Life Science Map 2023 is an attempt to analyze the growing healthtech market and innovative companies in Baltics. In this research, we are collecting all the available information on different kind of projects, technologies, startups and stakeholders that aim to improve the quality of life, make healthcare services accessible, promote medical tourism, increase longevity, as well as on the innovative ecosystem supporting Life Science startups. As a result of the research, all members of the ecosystem will be mapped on a single map – Baltic Life Science Map 2023. First part of the research is focused on the Latvian Life Science ecosystem. |
We, EXPANSE Capital Venture Builder with the support of Digital Health Cluster, are conducting a survey among the founders of innovative companies, representatives of innovation support infrastructure, service companies, development and startup support institutions, and venture investors to get an idea of Latvia’s innovation ecosystem.
THE GOALS OF THIS RESEARCH ARE:
– to acquaint stakeholders, as well as actors of healthcare, health preservation and life quality improvement industries with innovative technologies developed or being developed in Latvia;
– to show a variety of solutions aimed to solve problems of modern healthcare industry;
– to collect all the information on services and infrastructure available for innovative healthcare companies in Latvia, to promote further collaboration and other joint activities;
– to identify the points of growth and possible national specialization in the global competition. To illustrate, we see the great opportunity for development of medical tourism in Latvia, but this requires coordinated efforts and joint activities from many participants, as well as development and implementation of new technologies in the healthcare system.
RESEARCH METHODOLOGY:
The research is based on the following methodology and preliminary analysis of innovative companies in Latvia and global trends in the Life Science market
To look at the modern healthcare innovation system from different perspectives, we have decided to group all the technologies in 11 sections:
Technologies and solutions grouped by users:
– patients,
– doctors,
– clinics and hospitals,
– pharmacies (Pharma Supply Chain),
– pharmaceutical companies
– insurance companies,
– other
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
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
As the healthcare ecosystem continues to evolve, our map will be constantly changing. We continue to work on the structure of the map, and will do detailing when several companies are working on the same topic or market. If you have not found a section for yourself, or see a need to suggest a different section, email us at info@expanse.vc and we will certainly consider your suggestion.
CRITERIA FOR INCLUSION OF A COMPANY/PROJECT ON THE MAP:
– Healthcare technology development companies, focused on healthcare (suppliers, patients, regulators) or life sciences (pharmaceuticals, medical devices), as well as companies providing services or willing to cooperate with developer companies;
– The presence of a headquarters in Latvia (mandatory for startup companies) or a representative office, a branch office.
– Provided information about themselves: website, contact person, contact details, short information about themselves, logo.
– Have 2 or more team members.
If you think you should be included on this map or would like to update the information displayed, fill out the form at …
We thank our partners, who helped us in the development and collection of information for this map:
– Digital Health Cluster
We hope that the Baltic Life Science Map 2023 will present a comprehensive picture of the start-ups and the scope of medical technology development, which demonstrates the readiness and potential of the Latvian and Baltic ecosystem and makes it attractive to innovative companies from other countries.
Thank you for your cooperation with us!