While 2020 did not go as planned for anyone, with the twists and turns came opportunities for medtech companies to power forward.
Innovations came both as a result of the COVID-19 pandemic and perhaps in spite of the challenges brought on by the virus, highlighted by the increased efforts to produce vaccines and testing while pivoting to artificial-intelligence-based and remote care.
Companies like Moderna arose from nowhere, climbing from a share price of $19.52 to $104.47 over the course of the year as it established itself as a frontronner in the race to get a COVID-19 vaccine to the public, eventually becoming the second vaccine authorized in the U.S.
MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — has hit new heights over the course of 2020, indicating the upward trajectory of the industry. Over the course of the year, the index grew from a total of $86.86 to $104.55, representing a 20.4% increase.
Outside of the pharmaceutical space, many medtech companies experienced their own blossoming on the markets. Here are some of the top-performing medtech stocks over the course of the crazy year that was 2020: