4 Lucrative MedTech Stocks To Bet On In 2021 Amid Pandemic

The United States is recording around 66,000 new COVID-19 cases every day (per a seven-day average of Johns Hopkins University data). Although it is much lower than January’s peak of about 250,000 daily cases, it is safe to say that the country is not yet out of the doldrums.

Nonetheless, with vaccinations in full swing, the dreadful public health crisis is anticipated to become significantly more manageable this year. Moreover, the historical stimulus package (signed by the President on Mar 12), intending to boost the economy and put an end to the pandemic, has provided a much-needed impetus.

Last year, the MedTech sector showed resilience amid the pandemic-led disruption. This year, this space will make for an alluring investment prospect, backed by sustained strength, favorable trends, and the stimulus package.

MedTech: Prospects Shine Bright

The pandemic exhibited the importance of digital health, which contributed significantly to MedTech’s performance last year amid the crisis. Riding on this momentum, digital health will grow stronger this year. Companies involved in telemedicine and artificial intelligence (which has been helping immensely since the onset of the coronavirus outbreak) will continue to reap the benefits.

Further, as more people are turning to self-monitoring tools, the wearable devices space continues to show strength. Innovation and the commitment to develop more advanced devices have instilled optimism in investors as the space has the potential to offer bankable returns.

Additionally, with the passing of the stimulus package, the companies involved in the diagnostic testing space, vaccine distribution, and manufacturing of personal protective equipment (PPE) will get a significant boost. For instance, Becton, Dickinson, and Company (BDX Quick Quote BDX - Free Report), which has been at the forefront of the fight against the pandemic, stands to benefit immensely from the package as it will be able to boost its testing capabilities further.

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