Medical Device Stocks: The Next Bull Market

08:53 09/16/2018

Typically, healthcare investors focus most attention on biotech or pharmaceutical stocks. But if they want even bigger opportunity, the medical device industry has some incredible opportunities, too. At the moment, there are more than 65 million people over the age of 70 in the United States. As that number has grown, we’ve seen sizeable demand for medical treatment, medications, and even medical devices. It’s why the medical device market rocketed to $51.2 billion in 2017. And it’ll be the reason the market could reach $674.5 billion by 2022. “With long life expectancy and emerging economies’ increasing expenditure on healthcare, there is an increased demand for technologically superior medical devices,” notes 24x7 Magazine, Solutions for Healthcare Technology Management. It’s just of the reason we’ve seen sizable moves in related stocks. LabCorp LH  for example is the world’s leading diagnostics firm. It operates its own network of medical laboratories, providing services like blood tests, urinalyses, and at-home testing kits. Its stock just ran from $120 to $173 just in the last two years. Or look at Boston Scientific BSX , for example, which manufactures medical devices such as pacemakers, catheters, and stents. This stock just ran from $16 to $37 just in the last two years. As America’s baby boomers age, related stocks should continue to climb. Or look at small cap stock, Bovie Medical Corporation BVX , which produces medical devices such as the J-Plasma, a patented surgical product marketed and sold under the Renuvion Cosmetic Technology brand in the cosmetic surgery market.

This article has been provided by a Chasing Markets contributor. All content submitted by this author represent their personal opinions, and should be considered as such for entertainment purpose only. All opinions expressed are those of the writer, and may not necessarily represent fact, opinions, or bias of Chasing Markets.
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