The medtech industry is continuing its massive 2021 boom, with the past week marking yet another record in the markets.
MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — finished last week (Aug. 27) at 121.05 points, representing a 1.2% rise from the 119.63-point mark set a week before. Following a slight dip earlier this month, the industry continues to tick up to new heights.
Medtech’s performance continues to reflect an overall rebound from the struggles brought on by the COVID-19 pandemic, too. The industry remains well above the marks set around the height of the pandemic, having registered a 31.1% increase from the pre-pandemic high of 92.32 (set on Feb. 19, 2020). Moreover, it remains well ahead of the mid-pandemic low of 62.13 (March 23, 2020) as well, totaling a 94.8% ascent above that point.
The industry’s performance fell in line with the overall markets this past week as the S&P 500 Index and Dow Jones Industrial Average also had solid weeks, rising by 1.5% and 1%, respectively.
Here are some of the major highlights from the past week as some major personnel moves took place across the industry:
- Medtronic CEO Geoff Martha touts progress on renal denervation and Hugo robotics
- How iRhythm sought to outdo the old-school Holter monitor
- Boston Scientific touts future of its MedSurg segment
- Amazon makes moves for a major medical diagnostics play
- Encision signs supply agreement with J&J’s Auris Health
- EU to investigate Illumina’s decision to close $8B Grail acquisition
- SVB Leerink analysts expect Abbott to gain share on Boston Scientific’s Watchman
- Philips faces lawsuits, congressional scrutiny over serious sleep devices recall