In this article, we will be taking a look at the 5 fastest growing health tech companies in the world. If you wish to learn about more, head straight to the 20 Fastest Growing Health Tech Companies in the World.
5. Twist Bioscience Corporation (NASDAQ:TWST)
YoY Growth: 21.58%
Twist Bioscience Corporation (NASDAQ:TWST) is one of the biggest health tech companies in the world with a revenue of $245.1 million in 2023. Twist Bioscience has gained U.S. FDA approval for the 2023-2024 COVID-19 vaccine in 2023 in collaboration with Pfizer. Twist Bioscience Corporation (NASDAQ:TWST) also collaborated with Ono Pharmaceutical to explore antibodies for autoimmune diseases and launched an RNA Fusion Panel with CeGaT for oncology and precision medicine research.
4. Sophia Genetics SA (NASDAQ:SOPH)
YoY Growth: 31.14%
Sophia Genetics SA (NASDAQ:SOPH) stands fourth among the fastest-growing HealthTech companies in the world. The company’s AI-powered platform helps clinicians to analyze genomic data which helps to identify personalized treatment options for cancer patients. In 2021, Sophia Genetics SA (NASDAQ:SOPH) went public, raising over $234 million in its initial public offering and achieving a valuation of over $1 billion. The company had a revenue of $6.4 million in 2023.
3. Innovent Biologics
YoY Growth: 36.21%
Innovent Biologics is one of the leading biopharmaceutical and health tech companies with a revenue of $903.6 million (RMB 6206.1 million). The company currently has 4 products that are approved for marketing in China, 5 assets in Phase III or pivotal clinical trials, and 14 molecules in earlier clinical stages. Innovent’s GLP-1R and GCGR dual agonist Mazdutide has demonstrated robust weight loss and glucose-lowering effects in clinical studies for the treatment of obesity and type 2 diabetes.
2. Immunocore Holdings plc (NASDAQ:IMCR)
YoY Growth: 43.05%
Immunocore Holdings plc (NASDAQ:IMCR) had a revenue of $249.4 million in 2023. Immunocore Holdings plc (NASDAQ:IMCR)’s lead product candidate tebentafusp is a first-in-class bispecific T-cell engager and has shown promising results in the treatment of metastatic uveal melanoma which is a rare and aggressive form of eye cancer. Tebentafusp demonstrated a significant improvement in overall survival compared to the standard of care, with a 31% reduction in the risk of death, in a clinical trial.
1. Ascendis Pharma A/S (NASDAQ:ASND)
YoY Growth: 421.20%
Ascendis Pharma A/S (NASDAQ:ASND) tops the list for being one of the fastest-growing health tech companies in the world. One of Ascendis Pharma’s most prominent contributions is the launch of SKYTROFA, a once-weekly treatment for children and adolescents with Growth Hormone Deficiency, in Germany. Additionally, Ascendis Pharma recently received a positive CHMP opinion for TransCon™ PTH which is a treatment for adults with Chronic Hypoparathyroidism. Ascendis Pharma A/S (NASDAQ:ASND) had a revenue of $0.28 billion in 2023 and they have also partnered with Royalty Pharma, which includes a $150 million Royalty Funding Agreement.
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