PitchBook - 2024 年第二季度医疗科技共报表和估计值南 （ 汉 ） - 2024

2Q2024 Medtech Public Company Summary and Valuation Guide

Key Takeaways

• Market Expectations for 2025: Analysts anticipate a significant increase in earnings per share (EPS) growth, expecting double-digit growth across the board and over 15% growth for diagnostics and consumer health segments in 2025.

• Medtech Sector Performance: While the medtech sector showed strong performance at the beginning of 2024, valuations experienced a downturn in the second quarter, leading to broad underperformance compared to major indexes.

• Best and Worst Performers: Natera and Insulet outperformed with gains of 18.4% and 17.8%, respectively, while Illumina, Exact Sciences, and Eurofins saw declines over 20%.

• M&A Activity: There has been a notable increase in multibillion-dollar acquisitions in the medtech sector, with Axonics and Silk Road Medical being acquired by Boston Scientific. This suggests the market is receptive to M&A deals when the price is fair.

• IPO Window and M&A Benefits: The limited activity in public takeovers might benefit strategic buyers looking to acquire late-stage medtech startups, potentially leading to more M&A deals.

Stock Returns

• Sources: PitchBook and Morningstar.
• Geography: Global.
• As of June 30, 2024:
  • Medical Devices & Supplies
  • Life Sciences
  • Diagnostics
  • Consumer Health

Valuations

• Sources: PitchBook and Morningstar.
• Geography: Global.
• As of March 31, 2024:

Revenue

• Sources: PitchBook and Morningstar.
• Geography: Global.
• As of June 30, 2024:
  • Medical Devices & Supplies
  • Consumer Health
  • Life Sciences
  • Diagnostics

EBITDA

• Sources: PitchBook and Morningstar.
• Geography: Global.
• As of June 30, 2024:
  • Medical Devices & Supplies
  • Consumer Health
  • Life Sciences
  • Diagnostics

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