2024全球生物医药与医疗技术交易深度洞察（英）

April 2025 2024 Deal-making Roundup An in-depth analysis of 2024’s global deal-making trends. This report unpacks the year’s biggest moves, top therapeutic areas, and standout transactions as tracked by Biomedtracker. 2April 2025 Copyright ©️ 2025 Evaluate, a Norstella company. (Unauthorized photocopying prohibited.)IntroductionDuring 2024, the biopharma industry achieved a total potential deal value (PDV) of $191.9 billion across 690 alliances. Although deal volume for alliances decreased by 28 transactions from 2023, the overall aggregate value was $5 billion more and the average deal value (among deals with disclosed values) was $671 million, an increase of 4% over 2023’s average PDV. Oncology was the most active therapeutic area for partnering. On the other hand, the 2024 biopharma merger and acquisition dollar value of $79.4 billion reached only about half of the 2023 total, yet 2024 deal volume showed a slight increase over the previous year, with 140 deals. Four $10 billion-plus deals completed in 2023 (together valued at close to $80 billion) greatly inflated the 2023 total dollars; if we remove those outliers, the 2024 total PDV is more in line with the 2023 PDV. Biopharma financing, which brought in an aggregate $88.6 billion from 1,056 deals, saw a 13% rise in the number of transactions as well as a 19% increase in deal value over 2023’s totals. The 2024 average deal value of $83.9 million was also up by 6% compared to 2023.In the medtech industry, financing activity in 2024 also ramped up in both dollar value and deal volume ($14.8 billion for 350 deals vs $12.2 billion for 300 deals in 2023). M&A activity was particularly strong, with seven separate billion-dollar-plus acquisitions (the same as 2023), with total 2024 medtech M&A spend at $35.9 billion from 57 deals, a 32% increase in deal value, yet a 31% decline in deal volume from 2023. This report provides an overview of alliance, merger and acquisition, and financing deal activity across the worldwide biopharma, medical device, and in vitro diagnostics industries during 2024 as reported by Biomedtracker. The overall data is presented across deal types, therapy areas, and payment or financing structures. The top deals by dollar value in each space are closely detailed. Note that potential deal value (PDV) is defined as the sum of disclosed up-front payment(s) plus any announced or received pre- or post-commercialization milestone payment(s). Maureen RiordanPrincipal Analyst, Deals IntelligenceDeanna KamienskiPrincipal Analyst, Deals Intelligence3April 2025 Copyright ©️ 2025 Evaluate, a Norstella company. (Unauthorized photocopying prohibited.)2024 Deal-making RoundupBiopharma AlliancesBiopharma alliances for 2024 reached a total PDV of $191.9 billion from 690 transactions (286 with disclosed values) [Figure 1]. In terms of deal volume, Q2 was the most active quarter of the year, with 187 transactions. In relation to PDV, Q4 was at the top with an aggregate $73.4 billion. T