An increase in investor interest and investment for businesses in this industry, particularly in the US, has been brought on by the emergence of the coronavirus pandemic and the quick advancement of manufacturing technologies. In the US, there are more than 6,000 medical device businesses. The market for medical devices is a significant subsegment of the larger healthcare sector. In addition to highlighting some of their top-performing businesses, we’ve recognized some of the strongest players in the sector.
Insider Monkey highlights the 12 best medical device stocks to buy now. A provider of ophthalmic medical technology, IRIDEX Corporation markets solutions for the treatment of eye conditions. The company’s strongest asset is that it is working on glaucoma therapy. In our ranking of the top medical device stocks right now, IRIX comes in at number 12. The company Abiomed, Inc. specializes in creating heart-related medical equipment. The business is on track to create the tiniest cardiac pump known to man. A 15% CAGR is predicted for the worldwide heart pump market up until 2027. One important medical device market targeted by Penumbra, Inc. is coronary vascular occlusion. In a 2021 test, the company’s CAT Rx catheter performed admirably. Our selection of the ten greatest medical device stocks to purchase right now includes PEN. An American firm called Stryker Corporation creates a variety of implants and surgical supplies. The aging U.S. population is anticipated to help the company’s neurotechnology and spine segment, which is growing at a rate of 12.64% and exceeding the sector CAGR of 7.9%. A manufacturer of medical devices, Edwards Lifesciences Corporation, creates solutions for the heart, critical care, and surgical monitoring. For more details, click 12 Best Medical Device Stocks To Buy Now.