Rebounding demand for elective surgeries helped the medical devices industry recover and witness good sales last year. Given the rising investments in R&D, integration of new technologies, deployment of robotic assistance in operating rooms, and other breakthroughs, the industry is well-positioned to grow.
Investors’ interest in this space is evident from the SPDR S&P Health Care Equipment ETF’s (XHE) 1.4% gains over the past week. The global medical equipment market is expected to grow at a 10.1% CAGR to reach $939.98 billion by 2026.
