Global digital health funding slumped in the first quarter, falling by 36 percent, its lowest level since 2020, according to an April 15 report by CB Insights.
According to the report, digital health companies raised $10.4 billion across 653 deals in the first quarter of 2022.
Compared to the fourth quarter of 2021, which raised $16.2 billion, this year's first quarter is the lowest funding haul by the sector since the third quarter of 2020.
An earlier report by Rock Health published April 4 reached the same findings.
According to Rock Health, U.S. digital health funding reached $6 billion across 183 deals in the first quarter of 2022, falling behind the $7.3 billion raised in the fourth quarter of 2021.
CB Insights said it expects the downward trend to continue.