Med-tech deal value continued its decline in the second quarter of 2025, totaling just $172.2 million in publicly disclosed deals, and bringing the first half of the year total to $321.2 million.
Reported med-tech deal value in the first seven months of 2025 remained sharply subdued, totaling just $657.44 million across all non-M&A transactions, a fraction of the $1.24 billion reported by this time last year. The current total is the lowest for any January-to-July period in the past seven years, though less than 2% of deals disclosed dollar values.
Med-tech companies brought in $18.11 billion through financings in the first seven months of 2025, marking a modest rebound from the sector’s recent lows. The total surpasses the $11.73 billion raised during the same period in 2023 and slightly edged out the $16.59 billion raised in the same period in 2024.
Med-tech M&A activity dipped in May, reaching $1.52 billion, down from $2.07 billion in April and a far cry from the highs seen earlier this year, such as $4.92 billion in January and $5.99 billion in February.
The med-tech industry brought in $13.74 billion from January through May 2025, up from $12.76 billion during the same period last year. In May alone, the sector raised $3.51 billion across 47 transactions, nearly doubling April’s total value of $1.88 billion from 37 deals.
Med-tech M&A activity rebounded in April, reaching $1.4 billion, a sharp increase from March’s $22.63 million, though still down from nearly $5 billion in January and $6 billion in February.
Despite a sharp drop in March, total med-tech M&A deal value for the first quarter of 2025 remained significantly higher than last year’s, reaching $10.93 billion compared to $3.63 billion in Q1 2024, though still down from $22.56 billion in Q1 2023.
