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PitchBook Analyst Note: Taking the Pulse of Medtech Innovation

Q4 2021

PitchBook Analyst Note: Taking the Pulse of Medtech Innovation

December 9, 2021

PitchBook Analyst Note: Taking the Pulse of Medtech Innovation
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Is medtech innovation dead?


The biomedical revolution of the 21st century has propelled a record-shattering $44 billion of VC funding into life sciences companies in YTD 2021. While the life sciences industry comprises two subsectors—biotech and medtech—they aren’t equally weighted particularly from an investment perspective. Medtech companies have been receiving a shrinking proportion of life sciences capital investment in recent years as biotech companies continue to take the lion’s share.

Our latest analyst note examines the capital investment differences between medtech and biotech. We delve into why biotech has overshadowed medtech in recent years, and consider what the future of medtech holds. Is investing in medtech startups slowly being written out of the life sciences playbook, or should investors take a second look at a possible resurgence in medtech innovation? 


Table of contents
Introduction 1
The numbers 4
Is medtech innovation dead? 11
Outlook 12