Med-tech has seen significant deal value growth during the first four months of 2023, despite a decline in the number of deals. In contrast, the value of mergers and acquisitions has experienced a notable downturn.

Med-tech financings have continued to decline from 2021's peak when they brought in a combined total of $27.76 billion through April. In the first four months of 2022, that dropped 61.74% to $10.62 billion and this year they have fallen 44.16% to $5.93 billion. Broken out by type of financing, med-tech follow-ons are higher than the same period last year ($2.6 billion in early 2023 vs. $1.73 billion through April of last year).

The volume of med-tech deals and M&As dropped in the fourth quarter of 2022, although it was a solid year for both types of transactions due to a growing interest in the digital health space.