The up-and-down nature of the medtech industry continues to carry through 2021, with a recent dip now followed by a rapid ascent.
MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished the week (June 11) at 109.63 points, producing a 2.5% rise from the 106.96-point mark set one week prior (June 4).
It provides a welcome sight after the industry’s progress came to a halt with a -1.4% dip the week before last. The index remains in a position to produce another upswing after demonstrating signs of picking up again when April brought the industry’s all-time best performance.
Even with setbacks that slowed the industry recently, medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry has registered an 18.8% rise from the pre-pandemic high of 92.32 (set on Feb. 19, 2020), plus a 76.5% increase from the mid-pandemic low of 62.13 (March 23, 2020).
The overall markets varied compared to medtech this past week as the S&P 500 Index rose 0.4% and the Dow Jones Industrial Average faring quite differently, dipping by -0.8%.
Medtech companies continue to rebound from the COVID-19 pandemic more than a year later. Here are some of the major highlights from the past week:
- Martha sets 800 million patient mark for Medtronic
- Amazon wins EUA to sell its COVID-19 test directly to consumers
- CVRx is going the IPO route
- BD surpasses 2 billion orders for COVID-19 injection devices
- Private equity firms making majority investment in Medline
- Inogen appoints BD veteran as chief medical officer
