Has the U.S. Healthtech Industry valuation changed over the past few years?

Investors are relatively neutral on the American Healthcare Services industry at the moment, indicating that they anticipate long term growth rates to remain steady. The industry is trading close to its 3-year average PS ratio of 4.6x.

Which industries have driven the changes within the U.S. Healthcare industry?

There are no additional sub-industries under this industry.

U.S. Healthtech Industry Analysis

Date	Market Cap	Revenue	Earnings	PE	Absolute PE	PS
Mon, 10 Aug 2026	US$59.6b	US$13.7b	-US$351,337,166.00	38.7x	-169.6x	4.4x
Wed, 08 Jul 2026	US$52.7b	US$13.8b	-US$457,040,179.00	34.7x	-115.4x	3.8x
Fri, 05 Jun 2026	US$48.3b	US$14.4b	-US$757,471,326.00	30.9x	-63.8x	3.4x
Sun, 03 May 2026	US$47.9b	US$13.6b	-US$374,667,415.00	31.4x	-127.8x	3.5x
Tue, 31 Mar 2026	US$46.8b	US$13.6b	-US$387,865,729.00	32.7x	-120.7x	3.5x
Thu, 26 Feb 2026	US$48.1b	US$13.5b	-US$497,970,340.00	41.7x	-96.5x	3.6x
Sat, 24 Jan 2026	US$63.7b	US$13.6b	-US$102,102,340.00	51.6x	-624x	4.7x
Mon, 22 Dec 2025	US$64.2b	US$13.6b	-US$102,572,340.00	56.5x	-625.5x	4.7x
Wed, 19 Nov 2025	US$73.6b	US$13.5b	-US$195,870,497.00	55.4x	-375.8x	5.5x
Fri, 17 Oct 2025	US$79.6b	US$13.1b	-US$211,110,296.00	59.2x	-377.1x	6.1x
Sun, 14 Sep 2025	US$77.9b	US$13.2b	-US$266,647,296.00	56.6x	-292.2x	5.9x
Tue, 12 Aug 2025	US$77.1b	US$13.1b	-US$368,991,447.00	58x	-209.1x	5.9x
Thu, 10 Jul 2025	US$78.6b	US$13.2b	-US$1,382,394,447.00	56.4x	-56.8x	5.9x
Sat, 07 Jun 2025	US$78.7b	US$13.2b	-US$1,382,393,022.00	57.4x	-56.9x	5.9x
Mon, 05 May 2025	US$71.0b	US$13.2b	-US$1,331,157,959.00	73.8x	-53.4x	5.4x
Wed, 02 Apr 2025	US$68.2b	US$13.2b	-US$1,421,453,089.00	52.9x	-48x	5.2x
Fri, 28 Feb 2025	US$73.0b	US$13.1b	-US$1,560,701,514.00	59.3x	-46.8x	5.6x
Sun, 26 Jan 2025	US$69.2b	US$12.9b	-US$1,638,054,514.00	57.6x	-42.3x	5.4x
Tue, 24 Dec 2024	US$68.1b	US$12.9b	-US$1,636,315,514.00	56x	-41.6x	5.3x
Thu, 21 Nov 2024	US$63.0b	US$12.8b	-US$1,712,768,248.00	54.5x	-36.8x	4.9x
Sat, 19 Oct 2024	US$65.5b	US$13.9b	-US$3,264,548,151.00	54.3x	-20.1x	4.7x
Mon, 16 Sep 2024	US$66.2b	US$14.0b	-US$3,302,096,821.00	55.8x	-20x	4.7x
Wed, 14 Aug 2024	US$58.0b	US$13.9b	-US$3,386,098,571.00	51x	-17.1x	4.2x
Fri, 12 Jul 2024	US$55.9b	US$13.7b	-US$1,860,692,542.00	51.3x	-30x	4.1x
Sun, 09 Jun 2024	US$58.4b	US$13.7b	-US$1,889,950,216.00	47.3x	-30.9x	4.3x
Tue, 07 May 2024	US$58.3b	US$12.7b	-US$1,488,470,679.00	46.6x	-39.2x	4.6x
Thu, 04 Apr 2024	US$61.1b	US$12.7b	-US$1,616,370,745.00	52.9x	-37.8x	4.8x
Sat, 02 Mar 2024	US$64.1b	US$14.1b	-US$1,440,992,794.00	50.8x	-44.5x	4.5x
Mon, 29 Jan 2024	US$73.4b	US$18.3b	-US$5,780,316,752.00	59.3x	-12.7x	4x
Wed, 27 Dec 2023	US$72.1b	US$18.3b	-US$5,781,192,665.00	60.5x	-12.5x	3.9x
Fri, 24 Nov 2023	US$65.2b	US$18.2b	-US$5,952,254,939.00	52.5x	-11x	3.6x
Sun, 22 Oct 2023	US$68.3b	US$18.0b	-US$5,559,240,965.00	52.9x	-12.3x	3.8x
Tue, 19 Sep 2023	US$71.1b	US$18.0b	-US$5,514,972,389.00	51.6x	-12.9x	3.9x
Thu, 17 Aug 2023	US$71.1b	US$17.9b	-US$5,552,073,447.00	54.3x	-12.8x	4x


US Market	2.74%
Healthcare	2.90%
Healthtech	13.81%
Healthtech	13.81%

Company	Last Price	7D	1Y	Valuation
VEEV Veeva Systems	US$230.47	11.7% +US$3.9b	-16.8%	PE39.8x
DOCS Doximity	US$27.40	26.5% +US$990.5m	-55.7%	PE29.2x
WAY Waystar Holding	US$24.23	6.9% +US$301.0m	-29.7%	PE34.5x
SDGR Schrödinger	US$18.16	18.8% +US$216.7m	-2.5%	PS5.2x
GDRX GoodRx Holdings	US$3.68	16.5% +US$185.2m	5.7%	PE77.3x

Announcement • Jul 12

Scienture Holdings, Inc. Completes Manufacturing of Commercial Launch Inventory and Begins Shipments of Rezenopy Nasal Spray 10 Mg to U.S. Pharmaceutical Wholesalers

Scienture Holdings, Inc. had completed manufacturing of commercial launch inventory and will begin shipments later this month of REZENOPY (naloxone hydrochloride) Nasal Spray 10 mg to U.S. pharmaceutical wholesalers. The Company expects REZENOPY to become commercially available for purchase in August. The Company is working with its wholesale distribution partners in preparation for nationwide commercial availability. The initial shipments represent an important step in Scienture's commercial strategy as it expands its portfolio of differentiated specialty pharmaceutical products. REZENOPY is the highest-dose FDA-approved naloxone hydrochloride nasal spray available in the United States, delivering 10 mg of naloxone hydrochloride in a single-use nasal spray device for the emergency treatment of known or suspected opioid overdose. Built on the proven naloxone molecule and a familiar nasal spray delivery platform, REZENOPY is designed to provide an important treatment option for overdoses involving highly potent synthetic opioids. According to IQVIA data (MAT April 2026), the U.S. naloxone market generated approximately $144 million in annual sales across 9.8 million units, highlighting a substantial commercial opportunity for REZENOPY. In addition, the Company recently expanded payer access with potential coverage reaching more than 100 million covered lives, further strengthening its commercial positioning ahead of product availability. REZENOPY (naloxone hydrochloride) Nasal Spray 10mg, is an opioid antagonist indicated for the emergency treatment of known or suspected opioid overdose, as manifested by respiratory and/or central nervous system depression in adult and pediatric patients. It is intended for immediate administration as emergency therapy in settings where opioids may be present. REZENOPY nasal spray is for intranasal use only and is supplied as a carton containing two (2) blister packages each with a single spray device. Administration: REZENOPY nasal spray is for intranasal use only. Seek emergency medical care immediately after use. Administer a single spray into one nostril. If the patient does not respond within 2 to 3 minutes or responds and then relapses into respiratory depression, an additional dose may be given into the other nostril with a new device. Do not administer more than 2 sprays per day. Additional supportive and/or resuscitative measures may be helpful while awaiting emergency medical assistance. Contraindications: REZENOPY nasal spray is contraindicated in patients known to be hypersensitive to naloxone hydrochloride or to any of the other ingredients. Warnings and Precautions: Risk of Recurrent Respiratory and CNS Depression: Due to the duration of action of naloxone relative to the opioid, keep the patient under continued surveillance and administer additional doses as necessary while awaiting emergency medical assistance. Risk of Limited Efficacy with Partial Agonists or Mixed Agonists/Antagonists: Reversal of respiratory depression caused by partial agonists or mixed agonists/antagonists, such as buprenorphine and pentazocine, may be incomplete. Larger or repeat doses may be required. Precipitation of Severe Opioid Withdrawal: Use in patients who are opioid-dependent may precipitate opioid withdrawal. In neonates, opioid withdrawal may be life-threatening if not recognized and properly treated. Monitor for the development of opioid withdrawal. Risk of Cardiovascular Effects: Abrupt postoperative reversal of opioid depression may result in adverse cardiovascular effects. These events have primarily occurred in patients who had pre-existing cardiovascular disorders or received other drugs that may have similar adverse cardiovascular effects. Monitor these patients closely in an appropriate healthcare setting after use of naloxone hydrochloride. Adverse Reactions: The following adverse reactions were observed in a REZENOPY nasal spray clinical study: upper abdominal pain, nasopharyngitis, and dysgeusia. Storage and Handling: Store REZENOPY nasal spray in the blister and cartons provided. Store between 2°C to 25°C (36°F to 77°F). Excursions permitted up to 40°C (104°F). Do not freeze or expose to excessive heat above 40°C (104°F). Protect from light. REZENOPY nasal spray may freeze at cold temperatures. If this happens, the device will not spray. If REZENOPY nasal spray is frozen and is needed in an emergency, do NOT wait for it to thaw; get emergency medical help right away. For more detailed information, please refer to the full prescribing information provided by the FDA. According to the U.S. Centers for Disease Control and Prevention (CDC), opioid overdoses remain a leading cause of preventable drug-related deaths in the United States, underscoring the ongoing need for readily accessible overdose reversal treatments. Scienture, LLC, a wholly-owned subsidiary of Scienture Holdings, Inc., entered into a definitive agreement with Summit Biosciences Inc. (a Kindeva subsidiary) in March 2025, for the exclusive U.S. commercialization rights to REZENOPY (naloxone hydrochloride) Nasal Spray 10 mg, which received FDA approval on April 19, 2024.

Announcement • Jul 07

Aclarion Announces Texas Spine Care Center as New CLARITY Site

Aclarion, Inc. announced Texas Spine Care Center as a new clinical site in its CLARITY (Chronic Low bAck pain Randomized Independent Trial studY) trial. The CLARITY study is designed to demonstrate Nociscan's clinical and economic value in spine surgery. CLARITY is a prospective, randomized clinical trial designed to demonstrate Nociscan’s ability to improve surgical outcomes for chronic low back pain. Nociscan aims to become the gold standard in identifying sources of low back pain through MR Spectroscopy (MRS) and Augmented Intelligence (AI). Texas Spine Care Center is a San Antonio-based orthopedic spine practice with two locations dedicated exclusively to spine care. The practice offers a comprehensive range of surgical and non-surgical treatment options, with a patient care philosophy centered on understanding the precise source of a patient's pain before determining the best course of treatment. Texas Spine Care Center joins a growing network of high-volume CLARITY trial sites including Johns Hopkins University, Northwestern Medicine, Advocate Aurora Research Institute, Texas Back Institute, Keck Medicine at USC, UHealth — University of Miami Health System, Scripps Health and Lanman Spinal Neurosurgery. The principal investigator for the trial is Dr. Nicholas Theodore, Chairman of Neurosurgery at the University of Arizona College of Medicine – Phoenix. The CLARITY trial is a 300-patient, prospective, randomized, multi-center study evaluating Nociscan in patients undergoing surgical treatment (Fusion /TDR) for discogenic low back pain. The primary endpoint is change in back pain as measured on a 100mm VAS Back at 12 months compared to baseline, with several secondary endpoints collected. The company anticipates having an initial internal data readout and an expected public disclosure of early interim results in Fourth Quarter 2026. Chronic low back pain is a global healthcare problem with approximately 266 million people worldwide suffering from degenerative spine disease and low back pain. Aclarion’s Nociscan solution is the first evidence-supported SaaS platform to noninvasively help physicians distinguish between painful and nonpainful discs in the lumbar spine. Nociscan objectively quantifies chemical biomarkers demonstrated to be associated with disc pain. When used with other diagnostic tools, Nociscan provides critical insights into the location of a patient’s low back pain and demonstrates a 97% surgical success rate when all Nociscan-positive discs are treated.

U.S. Healthtech Industry Analysis

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