- Medical devices are becoming increasingly crucial to provide efficient and safe treatment, diagnosis, prevention, and rehabilitation of diseases.
- The goal of the health care sector is to provide access to better facilities for all individuals and increase the average life expectancy.
- IPD, NTI, AVR, UBI, and RNO- these key players have outperformed their counterparts in the medical devices market and proven their value as the top medical device stocks.
Good health is more valuable than any precious metal or gem in the world. As a result, the healthcare industry is advancing in terms of medical devices and equipment. The goal is to provide access to better facilities for all individuals and increase the average life expectancy.
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Access to appropriate, inexpensive, and high-quality healthcare products is critical for achieving universal health coverage, promoting healthier populations, and responding to health emergencies.
General medical treatments such as any surgical intervention, bandaging a sprained ankle, implanting an artificial hip or detecting HIV/AIDS would be impossible without medical devices.
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The following is a list of five ASX-listed medical device stocks to keep an eye on in 2022.
The company manufactures a line of CE-marked and FDA-cleared medical devices, including the SOZO®, which is sold in select markets worldwide for various indications such as protein calorie deficiency, lymphoedema and heart failure.
ImpediMed's annual report
On 30 June 2021, ImpediMed released its annual report, revealing a significant revenue increase.
IPD is the ideal medical device stock to look at in 2022 because it has been rising significantly despite the COVID-19 pandemic's persistent obstacles. Its overall earnings for the current period were AU$8.4 million, up 46 % from AU$5.7 million in the prior equivalent period ending 30 June 2020.
Five ASX-listed medical device stocks for year 2022
SOZO is the main reason for revenue growth. For FY21, SOZO’s income was AU$7.6 million, up 64% from AU$4.7 million in the prior corresponding period ending 30 June 2020.
Furthermore, SOZO's commercialisation initiatives contributed to this revenue increase, which included:
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Neurotech International Limited
Neurotech International Limited (ASX: NTI) is another good option to look at in 2022. It is a medical device and solutions firm that performs clinical trials to evaluate the neuromodulatory, anti-inflammatory and neuroprotective effects of its unique cannabis strains.
NTI also sells Mente, a world-first home treatment for autistic children with high Delta band brain activity that has been clinically proven to improve relaxation and participation.
Furthermore, the firm focuses on examining the use of cannabis as a treatment for neurological illnesses such as ADHD, epilepsy, autism, and MS.
Anteris Technologies Limited
Anteris Technologies Limited (ASX: AVR) is a structural heart business that uses enhanced design and technology to offer clinically outstanding and long-lasting solutions. Its purpose is to develop next-generation technology that will aid healthcare practitioners in achieving life-changing results for patients.
Anteris declared on 30 August 2021 that it had inked a new agreement with LeMaitre Vascular Inc to expand the firm's VascuCelTM and CardioCelTM production at its Malaga site in WA.
On 6 September 2021, the corporation declared the appointment of Dr Chris Meduri, a world-acclaimed interventional cardiologist, as its Chief Medical Officer (CMO).
On 12 October 2021, AVR signed a partnership with the Cardiovascular Research Foundation and IQVIA Inc to execute FDA early feasibility studies.
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Universal Biosensors (ASX: UBI) is a corporation that develops and designs electrochemical cells for usage in various industries, including agriculture, healthcare, food, and wine. Sentia, a wine testing platform, is UBI's new global offering.
Furthermore, on 20 September 2021, UBI stated that clinical research trials for Tn Antigen cancer biosensor Universal Biosensors, Inc. expanded.
UBI declared on 11 October 2021 that it has received AU$2,826,244 in cash as an R&D Tax Incentive rebate for the fiscal year 2020. The Research and Development (R&D) Tax Incentive is a government programme that aids qualifying businesses in recouping some of their R&D costs. Firms receive cash returns for 43.5 % of qualified R&D expenditures under this programme.
Rhinomed Limited (ASX: RNO) is a medical device organisation that creates a revolutionary wearable nasal technology platform that can increase airflow while providing diagnostics and delivering drugs.
The company declared on 27 August 2021 that it completed the development of the world's first nasal swab exclusively for children.
The Rhinoswab Junior is designed to offer all the benefits the current existing Rhinoswab provides, plus a few extra features that lessen trauma, anxiety and fear linked with the usage of traditional nose swabs.
The company declared on 14 September 2021 that BioTrading Benelux BV and AMT Group Australia Pty Ltd had been appointed as distributors of the Rhinoswab Junior and Rhinoswab.
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Medical devices are regarded as a critical element of health systems. The advantages they offer have made them crucial in providing efficient and safe treatment, diagnosis, prevention, and rehabilitation of diseases. Hence, for year 2022, it would be worth the watch to see how the medical devices stocks are performing.
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