Published on 14 Mar 2024 on Zacks via Yahoo Finance

Buy 5 Medical Devices Stocks for a Stable Portfolio in 2024

The Medical Instruments industry is highly fragmented, with participants engaged in research and development (R&D) in therapeutic areas. The industry has been witnessing a gradual transition from remote healthcare and contactless services during the pandemic to its original space of point-of-care testing, heavy as well as minimally invasive implants, elective procedures, and so on and so forth.

The medical instruments space has been benefiting from the ongoing merger and acquisition trend. The smaller and mid-sized industry players have been trying to compete with the big shots through consolidation. This trend is more visible after the pandemic-led downturn. The big players are also attempting to enter new markets by acquiring niche products.

Moreover, since the beginning of 2023, this industry has been witnessing massive adoption of artificial intelligence and the Internet of Medical Things in the form of digital healthcare options in hospitals and other healthcare settings. Digital enhancement, while optimizing costs, proves to be better for clinical outcomes.