UBS Equities-US Thematic Research _Private Companies Life Science Diag...-117486664

ab27 August 2025Global ResearchUS Thematic ResearchPrivate Companies: Life Science & Diagnostic Tools + Medical Supplies & Devices This report includes 50 Life Science Tools and Diagnostic private companies, and 26 private medical supplies & devices companies across the cardiology, surgical robotics, and enabling technology subsectors. Life Sciences & Diagnostic Tools
Emergence of multiomics and scalable single-cell technologies. The competitive landscape for DNA/RNA sequencing instruments continues to be dynamic (e.g. Roche), but newer players are increasingly broadening their focus beyond conventional DNA/RNA sequencing applications to encompass multiomic analyses. Element Biosciences' AVITI24 instrument captures five integrated dimensions of biology -- RNA expression, protein levels, cell morphology, spatial context, and dynamic cellular responses. Single cell research is trending to larger cell datasets, from 100M cells to 1B cells to inform advanced AI-driven models and next-generation multiomic platforms like Bioskryb's.
AI-powered innovations in early cancer detection. Initiatives aimed at enhancing early cancer detection utilize a variety of methods, including whole genome fragmentomics (Delfi), epigenomic profiling (ClearNote, Harbinger), and orphan non-coding RNA analysis (Exai), while also integrating AI-powered assessments.
Emerging nextgen cancer diagnostics. Efforts in nextgen cancer diagnostics are highlighted by novel functional testing platforms (Elephas), sophisticated 3D genome mapping (Arima), AI-enhanced prognostic instruments (Artera), proteomic analysis for treatment response (OncoHost), and extensive whole genome and multiomic methodologies (Inocras). At our 11th annual Precision Medicine/Genomics Summit our panel discussions with various industry experts underscored the enthusiasm for next-gen multiomic approaches to MRD (minimal residual disease) testing.Medical Supplies & Devices
Cardiology: Our market model forecasts the global transcatheter aortic valve replacement (TAVR) market to grow high-single-digits (HSD) over the next three years and we have strong conviction that the Pulse Field Ablation (PFA) market is growing 30%+ in the near-term and will sustain 20%+ growth in the mid-to-long term. While the overall cardiology market is currently led by established players, we see increasing competition from private companies focused on innovation in this space: Kardium (atrial fibrillation solutions), Capstan Medical and Foldax (advanced valve technologies), and CardioFocus (ablation).
Surgical Robotics: We are optimistic that robotic assisted surgery will become standard of care especially given the generational shift of physicians in the medical field. Although the market is dominated by large players, we see competition as inevitable from private companies in the space: Moon Surgical (versatile robotic platform), THINK Surgical and Corin Group (focused on orthopedics), and EndoQuest Robotics and R2 Surgical (ma