The US and European medical technology (MedTech) industry has performed impressively throughout the COVID-19 pandemic, but it now faces a host of new and emerging challenges as the direct impact of the global pandemic slowly subsides. As the 16th annual edition of our Pulse of the industry medical technology report shows, the industry’s revenues passed the notable milestone of a half-trillion dollars for the first time ever in 2021, driven by the resumption of deferred elective procedures and ongoing sales of pandemic-related products (particularly diagnostics and research-related laboratory equipment). Though many MedTechs have yet to correct their course on their revenue growth trajectory since the pandemic began, the industry’s overall growth returned to levels not seen since we began publishing the Pulse of the industry medical technology report around the time of the global financial crisis in 2007.
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