Medtech

Medical Technology – often simply referred to as Medtech – is a field specialising in the innovation, design and production of technologies that facilitate healthcare.

Any company involved in the provision of equipment that diagnoses and treats a patient can loosely be categorised under the ‘Medtech’ umbrella.

The focus is on connecting the dots between technology and healthcare to achieve faster, more efficient diagnoses, and improved medical outcomes.

Medical devices can range from electric wheelchairs, inhalers and hearing aids, to more sophisticated technologies, like MRI scan machines, CT scanners and laser machines.

Some other common examples of modern Medtech innovations include: catheters, stethoscopes, dentures, 3D printers, laser surgery, artificial organs, stents and pacemakers.

During the pandemic, Medtech has been particularly useful in introducing the telehealth model, which allows users to access medical services remotely.

What’s happening in medtech in Australia?

In 2013-14, Australia invested $5.5 billion in health and medicine research.

This clearly paid off, as Australia is now poised to become a world-leader in medtech.

With strong resources and highly skilled workers in areas like digital health and genomic medicine, the medtech sector in Australia is currently worth over $6.1 billion and employs over 36,000 people.

Many Australian medtech companies are typically young and small due to the relative newness of the industry. But due to the enormous growth potential fuelled by an increasing demand for competitive healthcare services and products, investors are increasingly looking to Medtech small-caps as attractive investment opportunities.

Is it a good time to invest in ASX medtech stocks?

The global medical device and diagnostic industry is valued at over $100 billion.

And thanks to the increasing prosperity in developed countries, longer life expectancy rates and a renewed focus on improving quality of life, this industry is set to grow rapidly.

Everyday, new discoveries in science and engineering research are fuelling this growth.

But not all Medtech companies are guaranteed to be successful. As with any growing industry, some will rise, while others may not be able to keep up with international competition.

A successful Medtech investment will necessitate a keen understanding of the company, its niche, its financials and other influential factors.

Read more

Related articles

ResApp Shares Are Soaring 24% Higher Thanks to a Takeover Bid from Pfizer!

Tiny HealthTech stock ResApp Health [ASX:RAP] is flying today. The share price is currently up 24.4% at the time of writing, thanks to a somewhat unexpected turn of events

The Companies Birthing the 200-Year Human TODAY!

In today’s Money Morning…the great medical leap forward…replacement parts…diagnosis...senescence…and more…

Self-Evolution Is the Next Gold Rush 

In today’s Money Morning…self-knowledge…the applications…what to invest in…and more…

PolyNovo Shares Surges 25% on Strong 1H22 Sales Growth (ASX:PNV)

PolyNovo [ASX:PNV] shares are rising today after the biotech stock reported its indicative half-year trading results.

Imugene Share Price Up on Agreement with Merck and Pfizer (ASX:IMU)

The Imugene [ASX:IMU] share price is up 6% following a supply agreement update. Imugene, the biotech stock, gained 600% over the last 12 months.

MSB Share Price Up — Trial Drug Helps Against Heart Attacks (ASX:MSB)

Up-and-coming biotech player Mesoblast [ASX:MSB] is on the up today. The regenerative medicine company announced some promising results from a Phase III drug trial from data that was shared at the American Heart Association’s annual ‘Scientific Sessions’, an exhibition of the latest findings and insights into all things heart health related.