Global medtechs had a big enough challenge with COVID-19 and its aftermath before the full-scale regional conflict in Ukraine added more uncertainty to the question of when market normality would return.

A mix of mega-rounds and smaller seed financings show investment happening at both ends of the venture capital spectrum. In public company financings, Gilead prices $2bn note offering, Biogen secures $1.5bn for Reata deal, Inhibrx completes a $200m PIPE and the IPO market shows new signs of life.

Medtech Insight’s just-published ranking of the leading global medtechs based on revenues reported for fiscal 2021 reveals a picture of an industry overwhelmingly in growth, despite – or in some cases because of – the persistent effects of the pandemic.

Rare disease treatments have been increasingly attractive targets for investment, but clinical trials of these agents are laden with unique challenges, not least of which is that there are by definition small and possibly disparately located patient populations. However, by cultivating relationships with patient organizations and carefully designing studies, companies in the rare disease space are proving they can overcome logistical hurdles.