The medical technology industry has exploded, and it has been battling the COVID-19 pandemic’s consequences. In April 2020, the number of patients requesting telemedicine consultations increased to 28%, up from 19% the previous year. Healthcare spending is predicted to climb at a 3.9 percent compound annual growth rate. The biopharmaceutical division of the Samsung Group created AI-powered diagnostic software for analyzing breast lesions using ultrasound pictures. Aidoc gained FDA permission in 2020 to employ its cutting-edge AI-driven radiography solution, as well as other FDA-approved tools, to diagnose sudden pulmonary embolism. The aging U.S. population and gadget manufacturers’ innovation are projected to help medical technology stocks. Institutional investors have put more than $80 billion into health technology in the last five years. The revenue sales of medical companies like Abbott Laboratories have increased.
Insider Monkey looks at the 10 medical technology stocks to buy. Following FDA approval for its hypotension prediction index software, Edwards Lifesciences Corporation had its stock rise 2% in the last month. The company’s first-quarter revenue totaled $1.2 billion, up 8% year over year. Baxter International Inc. is ranked ninth. Hemodialysis, parenteral nutrition therapy, medical gadgets, and surgical goods are all available through the Illinois-based healthcare organization. Stryker Corporation is ranked eighth among the top ten medical technology companies to purchase right now. Surgical instruments, orthopedic implants for the hip, knee, and spine, and neurotechnology items for minimally invasive medical treatments are all sold by the company. Intuitive Surgical, Inc. is ranked seventh. Surgical robotics for minimally invasive procedures are developed and commercialized by the firm. Ion endoluminal system and Da Vinci surgical system are two of its robotic-assisted medical tool solutions. Abbott Laboratories is the sixth best stock to purchase in the medical technology sector. Medical gadgets, diagnostic goods, pharmaceutical products, and pediatric and adult nutritional products are all available from the Illinois-based healthcare corporation. It made $10.5 billion in revenue in the first quarter. For more details, click 10 Medical Technology Stocks to Buy.
