Dealmakers point to a set of slow-moving, but powerful shifts redefining how capital is deployed. From the rapid growth of family office capital and generational wealth transfers to a rising share of transactions happening outside the traditional sponsor-auction playbook, these mega-trends will shape the M&A market in 2026 and the years beyond. Kenny Walker-Durrant, partner in Technology and Life Sciences at Goodwin, says, "The balance of power in biopharma M&A is shifting, with midcaps between $3 and $40 billion continuing to play a braver game and challenging big pharma, driving deal volume and taking a bigger share of the market.”
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