Healthcare Market Update | Q1 2026

Latest market trends, valuation levels, and deals

Structural drivers continue to support the healthcare market in 2026

We are pleased to share the latest edition of our Healthcare Market Update for the first quarter of 2026. The report highlights current valuation levels, selected transactions and key developments shaping the healthcare market.

The market remains in motion at the start of 2026. This is driven less by short-term fluctuations than by underlying developments such as cost pressure, regulation and labor shortages, which are reshaping the healthcare sector on a broad basis and accelerating the market’s reorganization.

As a result, consolidation pressure is increasing across several relevant subsegments. In areas such as mental health, medical supply stores and pharma CDMOs, scale is becoming an increasingly important competitive factor. Size no longer stands only for efficiency, but also for resilience, compliance capability and long-term relevance.

Therefore, we focus in the current report on the proposed return of tenders in the German medical aids market. What may appear at first glance to be a technical reimbursement issue could prove to be a structural turning point. If the market moves further towards selective, quality-controlled contracting models, consolidation pressure is likely to increase further. This would further raise the importance of platform strategies, regional density, operational quality and tender readiness in a transaction context.

We hope you enjoy the read and look forward to speaking with you.

We hope you enjoy reading the report and look forward to exchanging ideas with you soon.