Modern medical technology has significantly advanced healthcare, enhancing both quality and effectiveness. In 2023, the global medtech industry generated an estimated $566.3 billion in revenue, with projections suggesting it will reach $594.5 billion by the end of 2024.
Each year, innovative medtech startups emerge, introducing cutting-edge medical devices, platforms, and equipment. Here, we’ve compiled a list of the top 20 companies poised to make a significant impact in 2024.

1. Carbon Health

5-year search growth: 253%
Search growth status: Regular
Year founded: 2015
Location: San Francisco, CA
Funding: $622.5M (Series D)

What they do: Carbon Health is a platform that facilitates telehealth and virtual care services. Patients can book same-day phone-based appointments for primary and urgent care, as well as have prescription medications delivered to their doorsteps. In early 2021, the startup launched the “Carbon Health Vaccinate” initiative to combat the COVID-19 pandemic, helping to administer over 1.49 million vaccinations.

2. Resolve Medical

5-year search growth: 223%
Search growth status: Exploding 
Year founded: 2015
Location: St. George, UT
Funding: Undisclosed

What they do: Resolve Medical is a medtech startup offering AI-powered, cloud-based solutions to enhance diagnostic accuracy in radiology. Their flagship product, RSNA, analyzes medical images to assist radiologists in identifying potential abnormalities, thereby improving the efficiency of the diagnostic process. The company aims to elevate healthcare quality by facilitating early detection and treatment of diseases.

3. Aktiia

5-year search growth: 6,000%
Search growth status: Regular
Year founded: 2018
Location: Neuchâtel, Switzerland
Funding: $59.6M (Series A)

What they do: Aktiia has developed a wearable device and accompanying software that provides continuous, 24/7 blood pressure monitoring. Utilizing deep learning algorithms and AI, their technology analyzes the collected data to offer personalized health insights and recommendations. The startup currently serves over 60,000 customers and plans to expand into the US market in 2025.

4. NeuroMD

5-year search growth: 4,200%
Search growth status: Regular
Year founded: 2019
Location: Miami, Florida
Funding: Undisclosed

What they do: NeuroMD specializes in creating neuromuscular electrical stimulation (NMES) devices tailored for both pain management and enhanced muscular function. At the forefront of our offerings is the NeuroMD Corrective Therapy device, meticulously crafted to alleviate the discomfort of back pain and sciatica. To date, NeuroMD has administered over 1.3 million treatments since 2019, with an impressive 80% of recipients reporting significant pain relief.

5. Atomwise

5-year search growth: 64%
Search growth status: Peaked
Year founded: 2012
Location: San Francisco, CA
Funding: $176.6M (Grant)

What they do: Atomwise is a biopharma startup revolutionizing drug discovery through artificial intelligence. By deploying advanced deep learning algorithms, they aim to uncover potential new drugs and target previously undruggable proteins. Atomwise has forged partnerships with over 250 companies globally, with their collaborative efforts valued at nearly $7 billion, according to their website.

6. Parachute Health

5-year search growth: 9,600%
Search growth status: Exploding
Year founded: 2014
Location: New York, New York
Funding: $15.3M (Undisclosed)

What they do: Parachute Health is an ePrescribing platform designed to simplify the digital ordering of durable medical equipment (DME) and supplies for healthcare providers. The startup enhances the ordering process by minimizing paperwork, reducing delivery times, and offering real-time order status updates. Recognized in the New York Digital Health 100 for 2023, Parachute Health’s platform is utilized by over 200,000 clinicians.

7. Nutrisense

5-year search growth: 1,667%
Search growth status: Exploding
Year founded: 2018
Location: Chicago, Illinois
Funding: $31.4M (Series A)

What they do: Nutrisense, a Chicago-based medtech startup, enables users to track their blood sugar levels with ease using a continuous glucose monitor (CGM) and a mobile app. The Nutrisense CGM Program features a wearable, minimally-invasive sensor for monitoring, along with expert guidance and health coaching. In 2023, Nutrisense achieved $40.5 million in revenue and served 15,000 customers.

8. Flo Health

5-year search growth: 214%
Search growth status: Exploding
Year founded: 2015
Location: London, England
Funding: $75.5M (Series B)

What they do: Flo Health stands as a premier women’s health platform, empowering users to seamlessly track their menstrual cycles, predict ovulation, monitor PMS symptoms, manage birth control, and beyond. Integrating with wearable devices, our app delivers personalized cycle predictions and fertility insights. To date, Flo Health boasts over 350 million downloads and a thriving community of 60 million monthly active users, solidifying its position as a trusted companion in women’s health and wellness.

9. Toothsi

5-year search growth: 5,300%
Search growth status: Regular
Year founded: 2017
Location: Mumbai, India
Funding: $86.9M (Series C)

What they do: Formerly known as Toothsi, now rebranded as makeO, this innovative startup stands as India’s premier at-home smile makeover solution. Offering clear teeth aligners as a cost-effective and minimally invasive alternative to braces, makeO leverages the expertise of over 100 in-house orthodontists and dentists. Utilizing state-of-the-art 3D technology, the startup digitally prints aligners that are US FDA-approved, ensuring top-notch quality and efficacy. Beyond smile correction, makeO diversifies its offerings to include oral care, teeth whitening, laser hair reduction, and skincare products. With a customer base exceeding 150,000 individuals, makeO continues to redefine the landscape of dental aesthetics and self-care in India.

10. Terapify

5-year search growth: 2,900%
Search growth status: Peaked
Year founded: 2019
Location: Ameca, Mexico
Funding: Undisclosed (Seed)

What they do: Terapify emerges as a cutting-edge medtech startup, delivering online therapy services to clients seeking mental health support. Their platform seamlessly matches individuals with licensed therapists and facilitates video sessions, alongside in-app messaging and a wealth of resources for effective mental health management.

11. Biofourmis

5-year search growth: -21%
Search growth status: Peaked
Year founded: 2015
Location: Boston, MA
Funding: $463.6M (Series D)

What they do: Biofourmis, a pioneering biotech startup, spearheads the realm of software-based therapeutics tailored for personalized predictive care. By furnishing both the data and infrastructure necessary, they enable interventions and treatments for chronic conditions. With an annual revenue reaching approximately $100 million, Biofourmis exemplifies innovation in healthcare solutions.

12. DNAnexus

5-year search growth: 5%
Search growth status: Regular
Year founded: 2009
Location: Mountain View, CA
Funding: $472.6M (Series H)

What they do: DNAnexus, a prominent bioinformatics company, provides a robust cloud platform tailored for medical researchers to efficiently manage genomic data. Their ecosystem not only facilitates the seamless execution of clinical studies but also holds the potential to accelerate medical discoveries. With an impressive track record of processing over 26 petabytes (26,000 terabytes) of clinical data, DNAnexus stands as a pivotal player in the field. Presently, the company serves over 100 enterprise customers, further cementing its position as an invaluable resource in genomics research.

13. CMR Surgical

5-year search growth: -26%
Search growth status: Peaked
Year founded: 2014
Location: Cambridge, UK
Funding: $1.1B (Series D)

What they do: CMR Surgical pioneers cutting-edge equipment and systems to facilitate minimal access surgeries, with their flagship product being the “Versius” robotic system. Versius is meticulously designed for minimally invasive surgical procedures and seamlessly integrates into any operating room environment. Recently, CMR Surgical secured a significant milestone, raising $600 million in a Series D funding round led by Ally Bridge Group and Softbank Vision Fund. Moreover, the company’s remarkable success is reflected in its estimated annual revenue of approximately $500 million, underscoring its leadership in advancing surgical innovation.

14. Doctolib

5-year search growth: 71%
Search growth status: Peaked
Year founded: 2013
Location: Paris, France
Funding: $815M (Series F)

What they do: Doctolib stands as a prominent digital health platform, offering patients the convenience of booking both in-person and video consultation appointments with healthcare providers. Currently utilized by nearly 300,000 healthcare professionals and serving 70 million patients across France and Germany, Doctolib revolutionizes healthcare access. For doctors, the platform serves as a comprehensive tool to manage appointments efficiently and potentially expand their patient base.

15. Tempus

5-year search growth: 38%
Search growth status: Regular
Year founded: 2015
Location: Chicago, IL
Funding: $1.3B (Debt Financing)

What they do:Tempus harnesses the power of AI to revolutionize precision medicine. Their innovative approach involves providing healthcare providers with an operating system and a comprehensive library of clinical data. This enables practitioners to devise personalized treatment plans tailored to individual patients. Moreover, Tempus’s platform and resources are invaluable for conducting clinical research. With a database boasting over 3.5 million patient records, Tempus leads the charge in advancing precision medicine and accelerating medical breakthroughs.

16. Synchron

5-year search growth: 30%
Search growth status: Exploding
Year founded: 2016
Location: Brooklyn, New York
Funding: $130M (Series C)

What they do: Synchron, a pioneering neurotechnology startup, is at the forefront of developing brain-computer interfaces (BCIs) that empower patients to control digital devices using their thoughts. In a landmark achievement, the company successfully implanted its device in six patients in July 2021, marking a significant milestone in the field. Looking ahead, Synchron is poised to embark on a large-scale clinical trial this year, further advancing the frontier of neurotechnology and unlocking new possibilities for patients with neurological conditions.

17. Pettable

5-year search growth: 99x+
Search growth status: Exploding
Year founded: 2020
Location: Wilmington, Delaware
Funding: Bootstrapped

What they do: Pettable is an online service that provides emotional support animal (ESA) letters by connecting patients with therapists and certified dog trainers. Through a streamlined three-step process, individuals can obtain a valid ESA letter within 24 hours. Since its inception in 2020, Pettable has issued over 50,000 ESA letters.

18. Verana Health

5-year search growth: 2,800%
Search growth status: Regular
Year founded: 2018
Location: San Francisco, CA
Funding: $288.8M (Series E)

What they do:Verana Health serves as a pioneering regulatory-grade platform, facilitating the conversion of medical research data into clinically actionable insights. Focused on building comprehensive databases for clinical data, the company empowers researchers and healthcare providers to conduct studies and advance medical science. With an estimated annual revenue of $25 million, according to Owler, Verana Health exemplifies a commitment to leveraging data-driven solutions for the betterment of healthcare outcomes.

19. Farcast

5-year search growth: 600%
Search growth status: Regular
Year founded: 2010
Location: Boston, MA
Funding: $74.6M (Series C)

What they do: Farcast emerges as a leading medtech company specializing in oncology, with a primary focus on human tumor histoculture. Their innovative platform enables oncologists to test individual patient samples, facilitating the identification of effective treatments and the creation of personalized treatment plans. Notably, Farcast’s platform has already been instrumental in studying over 22,000 tumors, underscoring its significance in advancing precision medicine and improving outcomes for cancer patients.

20. Done

5-year search growth: 6,600%
Search growth status: Regular
Year founded: 2019
Location: San Francisco, California
Funding: Undisclosed (Seed)

What they do: Done offers a comprehensive solution for ADHD treatment through pre-packaged treatment plans. Users pay a fixed fee covering doctor’s appointments, round-the-clock support, and convenient online refills. New users schedule appointments online or in-person with licensed practitioners to tailor their treatment plans. Subsequently, for a flat rate of $79 per month, users gain access to ongoing email support, prescription delivery, and hassle-free refills, ensuring seamless and continuous care.

Indeed, the rapid growth of these medtech startups underscores the ongoing evolution and integration of technology within the healthcare industry. While significant strides have been made in leveraging technology for diagnosis and treatment, there remains a vast frontier to explore. The cutting-edge innovations, new product developments, and commercialization efforts spearheaded by these medical technology companies are catalysts for a future where effective interventions, diagnostics, and treatments are accessible to all, shaping a landscape of improved healthcare outcomes and enhanced patient care.