Medtronic plc (MDT) and Edwards Lifesciences Corporation (EW) are two prominent players in the medical devices manufacturing industry. Ireland-based MDT develops therapeutic and diagnostic medical products and technology and sells them to hospitals, physicians, clinicians, and patients worldwide. It operates through Cardiovascular; Neuroscience; Medical Surgical; and Diabetes segments. EW provides products and technologies for structural heart disease and critical care, as well as surgical monitoring worldwide. It manufactures heart valve systems and repair products used to replace or repair a patient’s diseased or defective heart valve.
Increased focus on elective surgeries due to a significant decline in occupancy of hospitals for the treatment of COVID-19 and rising need from an aging population make the medical devices industry’s prospects bright. Integration of new technologies for enhanced precision and accuracy, deployment of robotic assistance in operating rooms, and other breakthroughs should drive the industry’s growth.
