7. But still tough times for the industryMedtech may have an important role to play in the struggle against the COVID-19 pandemic. But the stocks of many major medical device companies are still faring about as poorly as the overall market, with many scaling back their sales projections.
Analysts say the industry is due for a sales hit as hospitals and healthcare providers in general curtail elective procedures in order to care for those stricken with the virus. CMS, in fact, recommended this week that healthcare providers should postpone adult elective surgeries and procedures, including dental procedures, until further notice.
With public health officials increasingly telling people to stay home and avoid congregating with others, a host of medical device industry conferences and events have also been canceled, denying industry insiders valuable forums to network and share ideas and innovations.
The situation seems bleak, to say the least. And yet — just perhaps — this could be medtech’s finest hour.