Wearable medical devices and the integration of artificial intelligence into medical technology are two big trends in this life science sector. Moving forward, the size of the global medical device industry is expected to grow from US$455.34 billion in 2021 to US$657.98 billion by 2028.
Wearable Health Solutions Inc. (OTCMKTS:WHSI) is a stock to watch in the telehealth sector. Telehealth companies such as Babylon, K Health, and Doctor on Demand have brought in billions of investment dollars over the past few years. These are private companies, there are very few plays in the space available to the public, which is why WHSI stock is worth monitoring in this fast-growing market.
Neovasc Inc. (NASDAQ:NVCN) stock has seen witnessing high volatility over the past few months with a fall of over 12% over the past month. Moreover, the stock has fallen 10% so far this year. On Wednesday, NVCN stock was down 4.85% to $0.42 with more than 127K shares exchanged hands, above its average volume of 411K shares. The company recently participated in the 2022 H.C. Wainwright BIOCONNECT Virtual Conference.
Nemaura Medical Inc. (NASDAQ:NMRD) is another stock in the sector which has been showing consistent selling pressure over the past week. The stock has moved down 8% over the past month. However, the stock has fallen 9% over the past year. The stock is trading above 15% from its 52-week low and 76% away from its 52-week high. Earlier this month, the company appointed Dr. Arash (Ash) Ghadar as Chief Operating Officer.
Sintx Technologies Inc. (NASDAQ:SINT) stock continued to trend lower and made a new 52-week low. SINT stock ended higher by 6.22% to $0.49 with more than 172K shares exchanged hands, below its average volume of 443K shares. The stock is trading above 12% from its 52-week low and 85% away from its 52-week high. The stock has fallen 73% over the past year.
Tandem Diabetes Care Inc. (NASDAQ:TNDM) is another stock in the Medical Devices sector which has been showing consistent fall. The stock has moved down 25% over the past one month. Moreover, the stock has slumped 13% in the past quarter. The stock is trading above 50% from its 52-week low and 26% away from its 52-week high. The company is set to report its fourth quarter and full year 2021 earnings on February 22, 2022 after the market closes.
