In 2023, European HealthTech companies raised €11.7 billion, which was a 9% increase compared to the previous year. This growth was primarily driven by capital markets, with IPOs and refinancings experiencing a significant surge of 51%.

Venture capital funding, on the other hand, saw a decline of 19%, particularly impacting the French and British sectors. The top three countries leading fundraising efforts were the UK, Switzerland, and France, while the Netherlands achieved a record amount due to Argenx SE's refinancing. Denmark also entered the top five in Europe, reflecting significant fundraising in the HealthTech sector.

Although there was a slight recovery in IPOs, the amounts raised remained among the lowest in a decade. France, however, secured over €100 million in a Nasdaq IPO. Refinancing on secondary markets reached €6.2 billion, with the Netherlands and Switzerland recording the highest levels. Despite these positive trends, the overall trend in healthcare financing continued to decline, with French HealthTech funding dropping 32% year-on-year. This decrease was attributed to a significant reduction in venture capital investments, which still represent over half of total fundraising despite a 38% overall decrease.