Palo Alto – February 5, 2026 – WCP is delighted to release the MedTech Market Update, Q4 2025, authored by senior bankers Juliesta Sylvester PhD and Michael Magnani, and by analyst Ted Celentino.
The report covers the following key points and more:
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Strong Industry Performance: The global MedTech industry reached $584B in 2025 and is projected to grow 6–7 %, marking its seventh consecutive year of expansion.
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Significant M&A Activity: Deal value surged to $97.6 billion in 2025, the highest in more than a decade, with 56 transactions occurring in Q4 2025 alone. The median trading revenue multiple in Q4 2025 was 4.2x, up from 3.5x in Q4 2024.
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Major “Mega-Deals”: The year’s M&A activity was dominated by a few large transactions, notably the $18.3 billion acquisition of Hologic by Blackstone and TPG. This deal signaled strong investor confidence in the women’s health and diagnostics segments.
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AI as a Key Driver: Artificial intelligence (AI) is shifting from product features to operational impact, such as workflow optimization and efficiency gains. 53% of executives identified AI platforms as a key growth driver for the industry going into 2026.
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Shift in Care Delivery: A major trend is the ongoing movement of care from hospitals to ambulatory and home settings, requiring MedTech companies to realign their portfolios and go-to-market strategies.
Get the report here:

