Increased focus on elective surgeries helped the medical devices industry rebound last year. Moreover, rising investments in R&D and integration of advanced technologies make the medical devices industry’s prospects bright.
Although the major benchmark indexes have witnessed a massive sell-off on concerns over multi-decade high inflation and the Fed’s hawkish stance, the growing demand for medical devices should help the industry dodge the uncertainties and perform steadily. Investors’ interest in this space is evident from the iShares U.S. Medical Devices ETF’s (IHI) 0.6% 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.
