Panorama France HealthTech 2026

France Biotech’s 23rd Panorama, produced with Next Innov/Banque Populaire, Bpifrance, Euronext and EY, maps 2,738 innovative health SMEs in France in 2025: 1,393 in MedTech, 895 in biotech and around 410 in digital health and AI. The sector remains structurally resilient but operates under tighter financial, regulatory and market-access conditions. Average turnover fell to €5.1 million in 2024 from €6.6 million in 2023, and average R&D spend to €2.6 million from €3.4 million. Only 20% of companies raised funds in 2025, against 37% a year earlier, and 41% reported cash-flow problems. French HealthTech raised €2.3 billion in total, down 10%, while venture capital held up at €1 billion, up 15%. The report also covers state support, strategic alliances and the funding outlook in France, Europe and worldwide.