New York surpasses Silicon Valley as digital health hub

The digital health investment landscape has plateaued and artificial intelligence has taken center stage.

A new report from Silicon Valley Bank published Wednesday analyzes the challenges, trends and opportunities in the digital health innovation market. The report’s authors reveal that the epicenter of digital health funding has shifted in the last year from the West Coast to the East Coast. 

New York-based companies — including those in the city and Long Island — have received $2.3 billion in venture-backed health tech investments through the first eight months of 2024 compared with $2.1 billion for San Francisco Bay Area-based companies.