Imagine a future where a saliva test can predict neurological risks, where augmented reality supports surgeons, and where digital care makes mental health more accessible. That future is even closer than we think. And healthtech is the driving force behind this new reality.
Health technology (healthtech) refers to the application of technology to improve or maintain human health, including the development of medical devices, digital health systems, and healthcare software.
Healthtech is transforming our healthcare system by improving patient care, easing labor shortages, and creating economic opportunities. As demand grows, it’s also generating new highly skilled jobs.
In this article, we’ll delve into the groundbreaking work of ten growing healthtech companies to watch and key workforce trends shaping this sector.
Summary Key Points:
Healthtech is a growing sector that is projected to hit $70B by 2029 in the US.
Labor-saving technologies are filling workforce gaps in healthcare while creating new highly-skilled jobs.
Top roles now include software engineers, data scientists, and cybersecurity analysts, alongside traditional healthcare jobs.
Economic and workforce developers can attract healthtech companies to their region and build a digitally skilled talent pipeline to support these companies with Lightcast’s data.
What’s Happening in Healthtech? Market Size & Business Attraction Opportunities
The U.S. digital health market (the broader category encompassing healthtech) is projected to generate $54 billion in revenue in 2025. With an expected annual growth rate of 6.71% (2025–2029), it’s forecasted to reach $70 billion by 2029.
What’s driving this surge?
Healthcare Workforce Shortages
As highlighted in Lightcast’s Rising Storm report, healthcare is facing critical labor shortages—an issue made worse by an aging population that needs more care. Healthcare is addressing these shortages by adopting new technologies that reduce administrative burden, extend staff capacity, and support patient care in new innovative ways.
Pressure to Improve Efficiency & Cut Costs
Healthcare systems are under financial strain. Healthtech helps streamline operations, boost efficiency, and reduce costs.
Progress & Growing Investment
Advancements in everything from artificial intelligence, machine learning, and genomics to wearables, are creating new opportunities in care delivery and increasing the demand for specialized expertise. And significant investment is given to this sector because of its potential impact on our lives.
Fastest-Growing Healthtech Companies to Watch (and How They’re Shaping the Future of Health)
Healthtech presents a significant opportunity for economic developers. Attracting one of these innovative companies creates jobs, boosts the local economy, and opens the door to potential future prospects.
So where to start? And how can you target healthtech companies?
To help, we’ve pulled together a list of 10 standout healthtech companies identified by Gazelle, our AI-powered platform that tracks fast-growing businesses across more than 910 sectors.
Gazelle factors in over 1,000 different growth indicators, such as funding rounds, employment growth, planned capital projects, to identify companies that are in growth mode and likely looking to expand.
Here are 10 healthtech companies showing strong vital signs! Want even more prospects? Access a list of 50 healthtech companies to target. Download here.
1. SprintRay
This healthtech innovator is bringing the power of 3D printing directly to dental offices. Their user-friendly systems enable faster, more personalized treatments and the immediate creation of custom dental solutions for patients.
2. Enovis
Featuring mind-blowing hands-free augmented reality surgical guidance alongside smart patient workflow tools, Enovis is a global medical technology innovator dedicated to improving lives by developing solutions that enhance patient outcomes and restore motion for life.
Looking for more?
Get a list of the Top 50 Fastest-Growing Healthtech Companies
3. GeneDx
GeneDx is on a mission to understand every genetic condition, armed with advanced testing and one of the world's largest rare disease datasets. Named a top innovator, they're leading the charge to end the frustrating diagnostic journey for patients, starting with a single powerful genetic test.
4. Spring Health
Spring Health's cutting-edge employee mental health platform is transforming workplace well-being. Using smart AI to understand each employee's unique needs, they instantly connect them with personalized care plans and dedicated support, making mental health resources truly effective and accessible for everyone.
5. Insightec Tx Sonics
Insightec is a global healthcare technology innovator transforming patient lives through incisionless brain surgery with MR-guided focused ultrasound. Their innovation offers tremor control without surgery and with minimal complications.
6. Exact Sciences
With the powerful purpose of eradicating cancer, Exact Sciences is making waves in molecular diagnostics. They're particularly focused on preventing and detecting colorectal cancer earlier with innovative tools like their non-invasive Cologuard test.
7. LetsGetChecked
LetsGetChecked is a virtual care company that empowers you to take control of your health without leaving the house. They provide at-home testing for a wide range of conditions, plus telehealth consultations and even pharmacy services, all in one easy-to-use platform.
8. Supernus Pharmaceuticals
While traditionally a pharma company, Supernus is stepping into the future of neurology with cool wearable tech like ONAPGO™. This device offers a new way to manage Parkinson's tremors by delivering consistent medication without invasive surgery, giving patients more control and a better quality of life.
9. ZYNEX
These folks are helping patients manage pain and recover through non-invasive medical devices. Beyond that, ZYNEX is also developing cutting-edge technologies that could significantly impact how hospitals monitor patients in the future.
10. MeiraGTx
MeiraGTx is a genetic medicine company developing new treatments for diseases. They create advanced technologies to precisely control how genes function, aiming to find better ways to treat both rare and common diseases.
Healthtech Workforce Trends
New technologies like AI and the growing need for better healthcare are rapidly changing the healthcare workforce. This means current and future workers will need different skills to keep up. Here are a few trends driving this change:
Demand for Tech-Savvy Healthcare Professionals: The traditional healthcare workforce is increasingly required to possess digital literacy and the ability to utilize new technologies now. More roles require a blend of clinical knowledge and digital skills.
Growing Need for Specialized Tech Skills in Healthcare: There is a significant increase in demand for professionals with expertise in AI/ML, data science, cybersecurity, software development (with healthcare compliance knowledge), and health informatics.
Increased Focus on Cybersecurity and Data Privacy: The sensitive nature of healthcare data is driving significant demand for cybersecurity professionals with specific expertise in healthcare regulations.
New HealthTech Careers & Skills
Here are a few examples of new careers in healthtech:
AI/ML Engineer in Healthcare: Develops and implements artificial intelligence and machine learning solutions for medical applications.
Healthcare Data Scientist: Analyzes complex healthcare data to extract insights for improved patient outcomes and healthcare optimization.
Telehealth Manager: Manages the operational and technical aspects of virtual healthcare delivery.
Health Informatics Specialist: Oversees the management and analysis of digital health information to enhance healthcare quality and efficiency.
Cybersecurity Specialist in Healthcare: Protects healthcare systems and sensitive patient data from cyber threats.
A snapshot of 2024 job postings from Lightcast’s Developer tool brings this trend to life. Roles like “Software Developer/Engineer” and “Cyber/Information Security Engineer/Analyst” now rank among the most in-demand positions. This data reveals strong demand for traditional research roles like researchers and chemists, but tech positions are also among the top now.
Why should economic developers and workforce development leaders prioritize healthtech?
Healthtech companies are at the cutting edge of innovation and they require a highly skilled workforce, leading to the creation of well-paying jobs that contribute significantly to the local economy. Attracting these types of companies to a region not only boosts the local economy, it can be a step toward building a regional healthtech hub in your area.
It all starts with data. Economic and workforce leaders can use Lightcast’s labor market data to strengthen their healthtech talent pipeline and understand the digital skills needed for this growing field. And with Lightcast’s Gazelle, you can identify healthtech companies that are the right fit for your region.
Want to start building your region’s healthtech sector? Start with Lightcast.
