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EY Pulse of the MedTech Industry Report 2026: Blockbuster performers and innovation drive record MedTech industry growth

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Broader MedTech industry at turning point, seeking positioning to optimize portfolios, differentiate technology and improve R&D

Innovation drives increased dealmaking and R&D investment: MedTech saw a resurgence in deal size with M&A value up 160% in the first half of 2026 vs. the same period in 2025, reflecting investments in next-generation technologies, including AI-enabled diagnostics, robotics, structural heart, diabetes care and minimally invasive therapies.AI is reshaping the future of value creation: AI integration in MedTech is unlocking new business opportunities and scalable value creation, alongside a record and growing number of FDA-authorized AI-enabled devices.Industry growth is expanding into alternative care settings: MedTech is increasingly moving beyond traditional care settings and capturing growth in alternative care markets, particularly the rapidly expanding ambulatory surgery center (ASC) market and direct to consumer/patient.

NEW YORK, Oct. 19, 2026 /PRNewswire/ — The 20th edition of the Ernst & Young LLP (EY US) Pulse of the MedTech Industry report finds that the global medical technology (MedTech) industry is at a turning point. Following a period of record-setting growth and investment across the US and Europe, the sector finds itself at a revenue high point, even amid challenges, including negative investor sentiment and persistent global trade and supply chain uncertainties.

20th edition: EY Pulse of the MedTech Industry Report: Blockbuster performers & innovation drive record MedTech growth

Despite a challenging operating environment, the MedTech industry saw sustained growth in 2025, reaching approximately US$650 billion in revenue and representing growth of 11%, and continued to demonstrate top-line performance in the first half of 2026, generating $325 billion in revenue, a 7.1% increase compared with the same time period in 2025. Therapeutic devices led industry growth, followed by non-imaging diagnostic, imaging, and lab equipment and tools. However, growth was highly concentrated among commercial leaders, highlighting a widening performance gap across the industry.

“MedTech has rebounded from YTD June lows and has underperformed the broader markets in 2026. The sector has continued to demonstrate resiliency, with record revenue financing and strong M&A activity setting the stage for a bright future,” says John Babitt, EY Global MedTech Leader. “The broader sector players are at a turning point where discipline is essential to convert innovation into profitable growth.”

Other key findings include:

MedTech financing reached a record US$63 billion for the year ended June 30, 2026, up 87% year over year – the highest seen in the last decade. Together, initial public offerings and debt accounted for around 80% of total capital raised, indicating that recovery has been driven primarily by public-market reopening and strategic balance sheet financing rather than broad-based funding strength.MedTech M&A reached its highest level in more than a decade, with total disclosed deal value surging to roughly US$130 billion. However, this recovery was driven by a limited number of blockbuster transactions.Innovation remains at the core of MedTech’s heartbeat, with growth largely driven by a breakout group of high-performing, high-differentiation, high-innovation strategic leaders. Companies that delivered both high R&D productivity and EBIT margin expansion generated an average total shareholder return of approximately 13.8%.AI in MedTech is observing a transformation, with intelligence being deeply embedded into devices and the care pathways around them. Hardware design, clinical evidence and manufacturing quality will remain fundamental and are increasingly being complemented by the quality of the algorithms, data and digital services surrounding the product.Venture capital fundraising remained resilient in 2026, with overall activity skewed toward earlier-stage innovation, highlighting improved investment activity and continued investor conviction in differentiated technologies addressing significant unmet clinical needs.

“MedTech is entering a new era of growth, and today’s challenges are the catalyst for the industry’s next transformations,” says Diana Hoff, EY Americas Life Sciences Sector Leader. “As companies navigate margin pressure, supply chain risk and global trade uncertainty, the leaders of the next decade will be those that embrace AI, make more deliberate portfolio choices and build productive, resilient operating models that turn innovation into sustained growth and value.”

Looking ahead, MedTechs that maintain innovation while also building conviction across capital allocation and portfolio optimization will be best positioned to set the pace of the pulse of the industry in the years to come.

To read Pulse of the MedTech Industry, please visit https://www.ey.com/en_us/life-sciences/pulse-of-medtech-industry-outlook?WT.mc_id=14001805&AA.tsrc=pr.

About EY
EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions.

Fueled by sector insights, a globally connected, multidisciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

All in to shape the future with confidence.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

Ernst & Young LLP is a client-serving member firm of Ernst & Young Global Limited operating in the US.

About EY Consumer and Health
The rise of the empowered consumer, coupled with technology advancements and the emergence of digitally focused entrants, is changing every aspect of health and care delivery. To retain relevancy in today’s digitally focused, data-infused ecosystem, all participants in healthcare today must rethink their business practices, including capital strategy, partnering and the creation of patient-centric operating models.

The EY Consumer and Health architecture brings together a worldwide network of 34,000 professionals to build data-centric approaches to customer engagement and improved outcomes. We help our clients deliver on their strategic goals, design optimized operating models and form the right partnerships so they may thrive today and succeed in the health systems of tomorrow. We work across the ecosystem to understand the implications of today’s trends, proactively finding solutions to business issues, and to seize the upside of disruption in this transformative age.

Media contact: Carol Piering, carol.piering@ey.com 

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De¹ Introduces Tokenized Asset World on BNB Chain, Developing Financial Intelligence Across the Full RWA Financial Landscape

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NEW YORK, Oct. 19, 2026 /PRNewswire/ — De¹ is launching Tokenized Asset World on BNB Chain, the first domain-specific world under its Financial World Model (FWM). It introduces specialized financial intelligence designed to understand the full onchain RWA landscape, from trading and collateral to borrowing, credit, liquidation and agent activity, and apply that knowledge to real financial decisions.

Traditional finance moves assets through separate networks of brokers, custodians, clearing systems and lenders. Each institution sees a different part of the lifecycle, while transfers, reconciliation and collateral requirements add friction to capital deployment. Bringing assets onchain makes financial activity more programmable, but it does not automatically connect the knowledge held across trading, financing and risk systems.

De¹ is establishing Tokenized Asset World on BNB Chain, where that real-assets financial ecosystem already unfolds in live markets. PancakeSwap, ListaDAO, Venus, Binance Agent OS and BNB Agent SDK span public trading, collateralized lending, structured credit and authorized agent activity. These activities produce distinct signals: executed prices, liabilities, vault constraints, liquidations and the outcomes of agent actions.

Tokenized Asset World brings fragmented financial knowledge into a coherent, learnable model of the full RWA landscape. The domain model is designed to understand the relationships and consequences across financial operations, with verified execution outcomes continuously refining De¹’s understanding of onchain financial physics. This introduces a new layer of intelligence to BNB Chain, enabling a more complete understanding of the tokenized-asset stack across trading, collateral, credit, vaults and agent activity.

AI agents can tap into this intelligence to operate across tokenized-asset markets with a more comprehensive view of liquidity, borrowing conditions, collateral exposure and liquidation risk as a whole. This deeper market understanding could raise more sophisticated strategies, execution and risk decisions. Each agent interaction, in turn, generates new evidence for the model, creating a continuous feedback loop between financial intelligence and live market execution while strengthening De¹’s broader Financial World Model.

About De¹

De¹ is the intelligent infrastructure platform at the intersection of DeFi and AI, building the Financial World Model grounded in live execution and real market feedback. It serves developers, traders, institutions, and AI agents through intelligent execution, unified liquidity, reinforcement learning optimization, and a continuously evolving data flywheel.

Contact: Marketing, pr@de1.ai

View original content:https://www.prnewswire.co.uk/news-releases/de-introduces-tokenized-asset-world-on-bnb-chain-developing-financial-intelligence-across-the-full-rwa-financial-landscape-302912966.html

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Plata reaches $1 Billion ARR Milestone, becoming the fastest digital bank ever

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The Mexico based digital bank shatters traditional digital banking scaling timelines, reaching a $1 Billion Annual Recurring Revenue  in less than 3.5 years from launch

MEXICO CITY, Oct. 19, 2026 /PRNewswire/ — Plata, the world’s fastest growing digital financial institution, today announced that in September 2026 it has crossed $1 billion in Annual Recurring Revenue (ARR), reaching the milestone in less than 3.5 years from launch in April 2023 and less than a year after receiving its full banking license. Plata´s growth makes it the fastest digital bank in history to reach this benchmark, and puts it on par with some of the world’s fastest growing leading AI companies, underlining Plata’s own AI and tech capabilities.

Plata reaches this goal after having reached more than 4 million customers in Mexico and having launched operations in Colombia at the beginning of September. In Mexico, Plata is now the fourth credit card issuer in the country by number of customers, and the only digital bank with a full product suite including credit, debit, investments, and small business banking. Plata’s growth is also nearing profitability, which is expected to be reached for its Mexico business within the next 6 months.

Plata changed the rules by building a universal financial platform powered by its own technology from day one. By setting up its core banking system, the company proved that regulated financial institutions can scale at AI-like speed without undermining operating performance.

“By building our own technology from scratch, we proved that a bank can move at AI company speed without compromising anything. Now we are ready to accelerate our innovation, make finance effortless and accessible for everyone.” Neri Tollardo, CEO of Plata.

As digital adoption accelerates across Latin America, Plata´s performance sets a new benchmark for financial infrastructure scaling, financial adoption, and operational efficiency in emerging markets.

About Plata

Plata is the fastest-growing financial institution in Latin America and the largest private digital bank by customer volume. In less than three years, we reached a valuation of $3.1 billion with 4 million active credit card customers and crossed $1 billion in Annual Recurring Revenue (ARR). Backed by $1.5 billion in equity investment, 1.5 in financing, and a workforce that includes 800 in-house developers, in Banco Plata we have built our own technological ecosystem, which includes a core banking system, CRM, and an app focused on simplifying the financial experience.

View original content:https://www.prnewswire.com/news-releases/plata-reaches-1-billion-arr-milestone-becoming-the-fastest-digital-bank-ever-302912970.html

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Trends International Announces Kenneth Smith as President and Chief Executive Officer

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Experienced executive to lead company’s next phase of retail, digital commerce and strategic growth

INDIANAPOLIS, Oct. 19, 2026 /PRNewswire/ — Trends International, LLC, a leading publisher and manufacturer of licensed posters, calendars, stickers, wall art and social stationery products, today announced that Kenneth Smith has been appointed President and Chief Executive Officer, effective May 2026.

Smith will spearhead the company’s overall strategic direction and growth initiatives across its retail, wholesale, e-commerce, licensing and direct-to-consumer businesses. In his role, Smith will oversee Trends International and its portfolio of digital businesses, including Art.com and AllPosters.com.

Smith’s appointment comes as Trends International enters a new phase of expansion focused on broadening its retail presence, accelerating e-commerce, strengthening strategic customer relationships, developing new products and licenses, and pursuing partnerships and business opportunities.

“I am honored to lead Trends International and build on the strong foundation established by the company, its founders and its talented employees,” said Kenneth Smith, “We have an exceptional portfolio of brands, licenses, products and customer relationships, and we see significant opportunities to grow the business. Our focus will be on strengthening our retail partnerships, accelerating our digital businesses, developing innovative products and creating new strategic opportunities that deliver value for our customers, consumers, licensors and partners.”

Expanding Retail and Digital Footprint
Under Smith’s leadership, Trends International will continue to invest in its core retail business while broadening its digital commerce capabilities.

The company is focused on deepening relationships with major retailers, expanding distribution, improving merchandising, and developing new product platforms designed to create incremental sales opportunities.

Trends will also continue to build Trends Digital, bringing together the company’s e-commerce capabilities and creating a platform for future digital growth and potential e-commerce acquisitions.

The company’s digital portfolio includes Art.com and AllPosters.com, providing consumers with access to millions of images, posters, prints, wall art, and complementary décor.

“Trends has a tremendous opportunity to build upon its heritage while positioning the company for the future,” Smith said. “We are focused on growth, but equally important is how we achieve that growth — through strong customer partnerships, disciplined execution, innovation and a culture that empowers our people to succeed.”

Strategic Priorities
Smith’s leadership agenda includes several key areas of focus:

Retail growth — Expand relationships and sales with major national retailers and specialty channels.Product innovation — Develop new product formats, displays and seasonal programs that create incremental retail opportunities.Digital commerce — Accelerate the growth of Trends Digital, Art.com and AllPosters.com.Strategic partnerships — Forge new licensing, brand and business partnerships that expand the company’s market opportunity.Operational excellence — Improve organizational alignment, processes, technology, and execution across the company’s businesses.Talent and culture — Build a high-performing organization focused on accountability, innovation, customer service and sustainable growth.

“Kenneth brings a strong combination of leadership, customer focus and business development experience to Trends International,” said Phil St. Jean, Founder and Co-Executive Chairman of Trends International. “His vision for the company and his commitment to our customers, employees and partners make him the right leader for this next chapter. We are excited about what the future holds for Trends International and its businesses.”

About Kenneth Smith
Kenneth Smith is an experienced business executive with a background in sales leadership, strategic account development, business development, customer relationships, and organizational transformation. Throughout his career, Smith has focused on developing strategic growth initiatives, building high-performing teams, and creating long-term partnerships with major customers and business partners.

As president and chief executive officer of Trends International, Smith is responsible for the company’s overall strategy, growth, organizational leadership and business performance.

About Trends International
Trends International, LLC is a leading publisher and manufacturer of licensed posters, calendars, stickers, wall art and social stationery products. Established in 1987, Trends built its business around strong partnerships between licensors, retailers and licensees. Today, the company delivers a broad portfolio of licensed and proprietary products distributed through major retail, specialty, and digital channels.

Art.com, acquired by Trends International in 2023, is a leading online specialty retailer of high-quality wall art and complementary décor. The business offers millions of images and products through its digital commerce platform and interactive visualization tools.

AllPosters.com, part of the Trends International family of businesses, offers consumers a broad selection of posters, prints and wall décor.

For more information about Trends International, Art.com, AllPosters.com or Kenneth Smith, contact:

View original content to download multimedia:https://www.prnewswire.com/news-releases/trends-international-announces-kenneth-smith-as-president-and-chief-executive-officer-302912992.html

SOURCE Trends International

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