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Because the healthcare sector’s focus has been shifting of late to treating several diseases that were deprioritized last year due to the COVID-19 pandemic, the medical devices industry is seeing significant growth this year. Investors’ interest in the medical devices sector is evident in the iShares U.S. Medical Devices ETF’s (IHI) 4.3% gains over the past month compared to the SPDR S&P 500 Trust ETF’s (SPY) 3.3% returns.
According to a report by Facts and Factors, the medical device market is expected to grow at a 5% CAGR from 2021 – 2026. Consequently, both ITGR and CFMS should benefit.