Dynamic range is the span between the darkest detail a sensor can record above its noise floor and the brightest highlight it can capture before clipping. Medium format can have an advantage, but not simply because the sensor is larger.

Key factors include:

• larger total light-gathering area, which can improve signal-to-noise ratio
• pixel size and sensor design
• read noise and downstream electronics
• full-well capacity and analog-to-digital conversion
• generation of sensor technology

A larger sensor often collects more total light for the same framing and exposure settings, and that can help shadow cleanliness and tonal separation. But dynamic range depends heavily on the specific sensor architecture. A newer full-frame sensor may equal or exceed an older medium format sensor.

So the better summary is: medium format cameras may offer higher dynamic range because their sensors often combine larger area with high-end sensor design and electronics, not because size alone guarantees it.