Q4 2022 Silicon Valley Medical Devices Report
The fourth quarter witnessed all industries contracting as economic growth stalled. Medical device companies, for example, reduced staff size to restructure organizations for the current climate, including Thermo Fisher (95 employees), Teleflex (78 employees), and Lucira Health (50 employees).
Venture capital funding for medical device companies dropped sharply quarter-over-quarter, going from $571 million to $199 million. Early-stage funding remained steady during this period with a slight drop from $118 million to $108 million. The expansive drop was due to later-stage funding evaporating quarter-over-quarter from $446 million to $91 million. Medium-to-late stage private companies are expected to lay off workers to stem the burn rate, resulting in a softening demand for space requirements.
Venture capital funding for medical device companies dropped sharply quarter-over-quarter, going from $571 million to $199 million. Early-stage funding remained steady during this period with a slight drop from $118 million to $108 million. The expansive drop was due to later-stage funding evaporating quarter-over-quarter from $446 million to $91 million. Medium-to-late stage private companies are expected to lay off workers to stem the burn rate, resulting in a softening demand for space requirements.