While 2020 did not go as planned for anyone, with the twists and turns came opportunities for medtech companies to power forward.
Innovations came both as a result of the COVID-19 pandemic and perhaps in spite of the challenges brought on by the virus, highlighted by the increased efforts to produce vaccines and testing while pivoting to artificial-intelligence-based and remote care.
Companies like Moderna arose from nowhere, climbing from a share price of $19.52 to $104.47 over the course of the year as it established itself as a frontronner in the race to get a COVID-19 vaccine to the public, eventually becoming the second vaccine authorized in the U.S.
MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — has hit new heights over the course of 2020, indicating the upward trajectory of the industry. Over the course of the year, the index grew from a total of $86.86 to $104.55, representing a 20.4% increase.
Outside of the pharmaceutical space, many medtech companies experienced their own blossoming on the markets. Here are some of the top performing medtech stocks over the course of the crazy year that was 2020: