European HealthTech and Medtech Market Trends 2025

In the 2025 year to date, the Healthcare sector in Europe saw 870 deals worth EUR €75.9 Billion. The volume of the sector has seen a 2.2x rise from YTD24’s EUR €33.7 Billion. The top deal for Healthcare in Europe was Merck’s acquisition of British Verona Pharma for EUR €9.5 Billion. Another interesting deal is the pending EUR €7.2 Billion acquisition of the Dutch Merus by the Danish Genmab.
 
Drugs & Pharmaceuticals account for 39% of the total volume, recording 102 deals worth EUR €29.8 Billion, a 2.2x rise from YTD24 (EUR 13.9 Billion). 37% of the volume comes from Biomed & Genetics with 133 deals worth EUR €27.8 Billion, a 2.4x rise from YTD24 (EUR €11.5 Billion)
 
Healthcare instruments are responsible for 8% of the volume (215 deals worth EUR €5.8 Billion). This is a 2.2x rise from YTD24’s EUR €2.7 Billion. Another 7% comes from Hospitals & Clinics (139 deals worth EUR €5 Billion), a near 6-fold rise from YTD24 (EUR €867 Million).
 
In Europe, Healthcare ranks third among the top-performing sectors by volume, following Technology and Finance. Europe accounts for 24% of the global healthcare volume (EUR €321.8 Billion).
 
The United Kingdom stood first in the list of top-performing nations in Europe, by volume, with 145 deals worth EUR €16.2 Billion, having jumped a spot from the previously occupied second position (YTD24).
 
France went down to the second position (from number one in YTD24), by volume, with 82 deals worth EUR €13.8 Billion.
 
Germany maintained the third position from YTD24 (141 deals; EUR €10.7 Billion).

European Cross border M&A activity
 
1. Inbound
 
In the 2025 year to date, Europe has recorded 86 inbound deals worth EUR €18 Billion in the European healthcare sector. This is a x2.6 rise in volume from YTD24 (EUR €6.9 Billion). The top inbound deal was American Merck’s acquisition of British Verona Pharma for EUR €9.5 Billion.
 
2. Outbound
 
The European outbound activity in the healthcare sector stood at EUR €47.2 Billion across 90 deals. This is the best year for outbound activity by volume in the past decade, marking a 22% rise from YTD24 (EUR €38.6 Billion)
 
The top outbound deal was the acquisition of Avidity Biosciences (USA) by Novartis (Switzerland) for EUR €10.9 Billion.
 
European Healthcare
 
The domestic deal volume of European healthcare stood at 784 deals worth EUR €57.9 Billion, the third best year of the decade after 2021 and 2022 and more than a 2-fold increase when compared to the same time last year (EUR €26.9 Billion). The top acquisition was the Dutch Merus being acquired by the Danish Genmab for EUR €7.2 Billion.

Source: https://info.mergermarket.com