2020: The Year Medical Technology Development Became Nightly News
- For a brief moment at its onset, 2020 seemed on its way to being a fairly typical year, with the U.S. stock market performing well and a Presidential Election on the horizon. Quickly though it became clear that society would face unprecedented challenges due to the global outbreak of COVID-19, and that the Medical industry would be called on to try and keep the world healthy. From cutting edge biotechnology companies racing to develop a coronavirus vaccine, to manufacturers of respiratory and personal protective equipment juggling severed international supply chains, nearly all companies in the industry faced disruptions and had a role to play in returning the world to normalcy.
- During a turbulent year for public equities, PMCF”s four Medical Technology indices generally followed the performance trends of the benchmark S&P 500 Growth Index and Dow Jones Industrial Average, with a similar sharp dip in late Q1 followed by a strong recovery.
- Though it is still early in 2021 at the time of publication, encouraging signs of recovery from the pandemic are emerging, with over 13% of the U.S. having received at least one vaccine dose, and drugmakers pledging massive boosts to supplies.
