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An astonishing 87% increase in investment in the health sector has managed to defy the downward trend observed around the world. The data has been provided by the Study on investment in the Life Sciences & Health sector in Catalonia 2022 promoted by CataloniaBio & HealthTech and EY.
During the year 2022, there have been notable declines in investment in the biotechnology and medical technology sectors in Europe and the US, according to the study. Making a big difference, the Catalan ecosystem continued to thrive and reached an incredible €445 million.
The main source of financing for companies in Catalonia continues to be venture capital (VC) funds. These funds have co-operated in raising €445 million, representing 77% of the total.
In the last year, notable deals have been carried out in the corporate sector, such as Medtech Impress, which raised €122m, and biotech companies Minoryx Therapeutics and SpliceBio, which raised more than €50m each, positioning themselves as key players in their respective sectors.
The digital health sector has raised capital of €39 million and operations increased by almost 20% by 2022. It is worth noting the increase in capital raised by service providers, with €28 million generated by 2022, €6 million more than in 2021.
The origin of the investments is mostly local. Around 90% of the shares of each company are owned by Catalan investors, with the exception of pharmaceutical companies, which tend to obtain foreign investment.
Health Sector Development in 2022
The study was based on direct surveys of companies and institutions belonging to CataloniaBio & HealthTech. The report includes the perspective of investors, offering a complementary view of the sector.
According to the data collected, 80% of the companies surveyed achieved their targets for 2022. Product development companies in the biotech and Medtech sectors were 71% and 82% successful respectively.
In addition, 92% of companies in digital health and 71% in the services sector also met their targets. The pharmaceutical industry performed outstandingly well, with 100% of companies surveyed meeting their targets. Both companies and investors are satisfied with the performance of the healthcare sector in 2022, considering it an example of the quality of the ecosystem and the professionalism of the sector in Catalonia.