The health tech industry is expected to grow significantly in the coming years. The industry is being driven by a number of factors, including:
- The aging population: The global population is aging, and this is leading to an increased demand for healthcare services.
- The rising cost of healthcare: The cost of healthcare is rising, and this is driving the development of new technologies that can help to improve healthcare delivery and reduce costs.
- The increasing prevalence of chronic diseases: Chronic diseases, such as heart disease, cancer, and diabetes, are becoming increasingly prevalent, and this is driving the development of new technologies that can help to manage these diseases.
- The rise of telemedicine: Telemedicine is the use of telecommunications technologies to deliver healthcare services remotely. Telemedicine is becoming increasingly popular, as it allows patients to receive care from healthcare providers without having to travel to a doctor’s office or hospital.
- The increasing availability of data: The increasing availability of data is driving the development of new healthtech solutions. This data can be used to develop new drugs and treatments, as well as to improve the way that healthcare is delivered.
The healthtech industry is expected to grow at a compound annual growth rate (CAGR) of 25.5% from 2021 to 2028. This growth is being driven by the factors mentioned above, as well as by the increasing adoption of healthtech solutions by healthcare providers and patients.
The healthtech industry is a rapidly growing and evolving industry. There are a number of new and innovative technologies that are being developed that have the potential to revolutionize the way that healthcare is delivered. These technologies include:
- Artificial intelligence (AI): AI is being used to develop new drugs and treatments, as well as to improve the way that healthcare is delivered. For example, AI is being used to develop new cancer treatments, as well as to improve the accuracy of diagnoses.
- Machine learning: Machine learning is a type of AI that is being used to develop new drugs and treatments, as well as to improve the way that healthcare is delivered. For example, machine learning is being used to develop new cancer treatments, as well as to improve the accuracy of diagnoses.
- Virtual reality (VR): VR is being used to train healthcare providers, as well as to provide patients with a more immersive healthcare experience. For example, VR is being used to train surgeons, as well as to provide patients with a more realistic experience of a medical procedure.
- Augmented reality (AR): AR is being used to provide healthcare providers with real-time information, as well as to provide patients with a more interactive healthcare experience. For example, AR is being used to provide surgeons with real-time information about a patient’s anatomy, as well as to provide patients with a more interactive way to learn about their health.
The healthtech industry is a major driver of economic growth. The industry is expected to create millions of new jobs in the coming years. The industry is also expected to generate billions of dollars in revenue.
The healthtech industry is a dynamic and exciting industry. The industry is constantly evolving, and there are new and innovative technologies being developed all the time. The healthtech industry is poised to make a significant impact on the way that healthcare is delivered in the coming years.
With that in mind, we take a look below at some of the most interesting stocks in the space.
Zimmer Biomet Holdings Inc. (NYSE:ZBH) engages in the design, manufacture, and marketing of orthopedic reconstructive products. The firm also offers sports medicine, biologics, extremities, and trauma products, spine, craniomaxillofacial, and thoracic products, office-based technologies, dental implants, and related surgical products. The company operates through the following segments: Americas Orthopedics, EMEA, Asia Pacific, and Americas Spine and Global Dental.
The Americas Orthopedics segment consists of the U.S. market and includes other North, Central, and South American markets for the firm’s orthopedic product categories. The EMEA segment focuses on Europe and includes the Middle East and African markets for all product categories except Dental. The Asia Pacific segment consists of Japan, China, and Australia and includes other Asian and Pacific markets for all product categories except Dental. The Americas Spine and Global Dental segment focuses on the U.S. market and includes other North, Central, and South American markets for the firm’s spine business, and all geographic markets for its dental business. This segment is also involved in research, development engineering, medical education, and brand management.
Zimmer Biomet Holdings Inc. (NYSE:ZBH) recently announced it has reached a definitive agreement to acquire OSSIS, a privately-held medical device company that specializes in personalized 3D printed implants, as well as complex hip replacements, including second-time hip replacements and replacements involving bone tumors and trauma.
OSSIS provides rapid design and production of personalized implants that align with Zimmer Biomet’s commitment to providing personalized experiences, with the goal of improving patient outcomes. This acquisition demonstrates Zimmer Biomet’s commitment to advancing innovation in the medical technology industry and strengthens the Company’s position as a global medical technology leader.
“Combining OSSIS’s more than 16 years of clinical experience and engineering expertise with Zimmer Biomet’s extensive network across Asia Pacific, Europe, Middle East and Africa demonstrates our commitment to bring transformative med tech advancements to patients in need,” said Sang Yi, Zimmer Biomet Asia Pacific Group President. “We are very pleased to partner with these patients and their physicians as we work toward our mission to alleviate pain and improve the quality of life for people around the world.”
Even in light of this news, ZBH has had a rough past week of trading action, with shares sinking something like -3% in that time. That said, chart support is nearby, and we may be in the process of constructing a nice setup for some movement back the other way.
Zimmer Biomet Holdings Inc. (NYSE:ZBH) managed to rope in revenues totaling $1.8B in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 10.1%, as compared to year-ago data in comparable terms. In addition, the company is battling some balance sheet hurdles, with cash levels struggling to keep up with current liabilities ($330.2M against $2.3B, respectively).
SOBR Safe Inc. (Nasdaq:SOBR) is a very interesting device play in the substance detection marketplace. The company has developed a potentially revolutionary touch-based device that instantly detects alcohol levels. It’s totally non-invasive and can be deployed to ensure alcohol-induced accidents are entirely prevented in industrial use cases including factory floors, bus fleets, cargo trucking, and other similar applications.
According to company materials, other intended applications include managed care and young drivers. This patent-pending alcohol detection solution helps prevent an intoxicated worker from taking the factory floor; or a driver, the vehicle keys.
SOBR Safe Inc. (Nasdaq:SOBR) most recently announced that oil and gas customer TerraTech Services (TerraTech) has completed the rollout of SOBRcheck™ to of all of its 16 facilities across 11 states, for both fleet and workplace applications.
TerraTech, one of the world’s largest oilfield services and logistics providers, has now integrated SOBRcheck passive alcohol screening into its core safety protocols – each of its approximately 300 service center employees scan up to four times a day to continually verify alcohol fitness for duty. This critical safety data is transmitted in real-time to onsite TerraTech supervisors, and aggregated in SOBRsafe’s proprietary reporting software for TerraTech corporate oversight.
“SOBRcheck™ is impressive technology, and I couldn’t wait to get it installed everywhere,” said TerraTech Health, Safety and Environment Manager Jerry Smith. “Because of the nature of our industry and the high potential for catastrophic incidents, to add that extra layer of protection with SOBRcheck was a no-brainer. We were quick to react and implement it because of the value that’s there.”
SOBR Safe Inc. (Nasdaq:SOBR) Chief Revenue Officer Michael Watson explained, “The oil and gas industry has the highest rate of binge drinking of any industry in the U.S., and the safety consequences are devasting. The industry needs a preventative alcohol safety solution, and we believe that through our partnership with TerraTech, we have developed the industry’s leading model for ensuring alcohol-free workplaces and fleets. We look forward to expanding our technology within oil and gas in the coming months.”
Intuitive Surgical Inc. (Nasdaq:ISRG) bills itself as a global leader in minimally invasive care and the pioneer of robotic surgery. Our technologies include the da Vinci surgical system and the Ion endoluminal system. By uniting advanced systems, progressive learning, and value-enhancing services, we help physicians and their teams optimize care delivery to support the best outcomes possible. At Intuitive, we envision a future of care that is less invasive and profoundly better, where diseases are identified early and treated quickly, so patients can get back to what matters most.
The company engages in the provision of robotic-assisted surgical solutions and invasive care through a comprehensive ecosystem of products and services. Its products include Da Vinci Surgical and Ion Endoluminal systems.
Intuitive Surgical Inc. (Nasdaq:ISRG) recently announced executive leadership changes as the company continues expanding globally and advancing minimally invasive care.
Dave Rosa has been promoted to the role of President, leading Intuitive’s product, digital, quality, regulatory, supply chain, manufacturing, and commercial teams. He will oversee the company’s core business, driving product, digital, and commercial excellence and delivery of Intuitive’s annual and mid-term strategies and goals. Rosa is a 27-year company veteran who has held key leadership positions across the business, including in the commercial, engineering, clinical development, marketing and product development organizations. Most recently, Rosa served as Executive Vice President and Chief Strategy and Growth Officer.
“As Intuitive has grown and demand for robotic-assisted surgery has increased, we remain focused on our mission to advance minimally invasive care and our commitment to working with customers to meaningfully improve patient outcomes,” said Intuitive Chief Executive Officer Gary Guthart. “Aligning our core business functions under Dave, a proven and outstanding leader with broad and deep experience across Intuitive, equips us to meet future opportunities to collaborate with hospitals and healthcare systems to address healthcare challenges at significant scale.”
It will be interesting to see if the stock can break out of its recent sideways action. Over the past week, the stock is net flat, and looking for something new to spark things.
Intuitive Surgical Inc. (Nasdaq:ISRG) managed to rope in revenues totaling $1.7B in overall sales during the company’s most recently reported quarterly financial data — a figure that represents a rate of top line growth of 14%, as compared to year-ago data in comparable terms. In addition, the company has a strong balance sheet, with cash levels exceeding current liabilities ($4.7B against $1.3B).
Other key players in the health tech space include: Shockwave Medical Inc. (Nasdaq:SWAV), Medtronic PLC (NYSE:MDT), iRhythm Technologies Inc. (Nasdaq:IRTC), and Zynex Inc. (Nasdaq:ZYXI).
