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With the year almost over, here the Investing News Network profiles the five top NASDAQ medical device stocks of 2021.

Click here to read the previous top NASDAQ medical device stocks article.

The growing prevalence of chronic diseases such as cancer and diabetes is driving increasing innovation in medical device technology.

As of mid-December, 40 new devices had been approved by the US Food and Drug Administration (FDA) for 2021.

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.


For investors interested in getting exposure to this wave of growth, there are a number of NASDAQ medical device stocks worthy of attention. With 2021 nearing its end, here the Investing News Network takes a look back at the top-performing NASDAQ medical device stocks year-to-date.

All data was compiled on December 14, 2021, using TradingView’s stock screener, and the medical device makers listed below had market caps between US$50 million and US$500 million at that time.

1. Iridex

Current share price: US$6.11; year-to-date gain: 180.28 percent

Iridex (NASDAQ:IRIX) develops, manufactures and markets laser-based medical systems, delivery devices and consumable instruments for the ophthalmology market. Its proprietary MicroPulse technology delivers treatments for sight-threatening eye conditions, including glaucoma, diabetic macular edema and other retinal diseases.

Early in 2021, Iridex inked a series of strategic collaboration agreements with Topcon, a Japan-based manufacturer and distributor. Through an exclusive deal, Topcon will distribute Iridex laser systems, delivery devices and disposable probes for sale in the Asia Pacific area and key European, Middle Eastern and Asian regions. At the same time, Iridex will add Topcon’s Pascal systems to its US direct sales and global distribution network, and acquire the design and manufacturing operation of Topcon’s Pascal product line through a different agreement.

In November, Iridex reported Q3 revenues of US$13.3 million, an increase of 51 percent over the prior year period and a rise of 24 percent compared to Q3 2019.

2. IceCure Medical

Current share price: US$3.49; year-to-date gain: 98.3 percent

Next on this list of top NASDAQ medical device stocks is Israel-based IceCure Medical (NASDAQ:ICCM), which has developed the ProSense System, a minimally invasive liquid-nitrogen-based cryoablation technology. It is used to freeze tumors to destroy them as an alternative to surgical tumor removal. The technology can freeze tumors (benign and cancerous) in the breast, kidney, bone and lung. The ProSense System has been approved by the FDA and has its European CE mark certification; it is marketed and sold worldwide.

IceCure's revenues increased by 11 percent to approximately US$2.75 million for the nine months ended on September 30, compared to approximately US$2.49 million for the same period in the previous year. The commercial-stage medical device company recently raised gross proceeds of US$17 million in a public offering.

3. Apollo Endosurgery

Current share price: US$7.64; year-to-date gain: 110.47 percent

Apollo Endosurgery (NASDAQ:APEN) is a medical technology company focused on the design, development and commercialization of medical devices to treat multiple gastrointestinal conditions, ranging from gastrointestinal defect closures to the interventional treatment of obesity.

Apollo’s device-based therapies are an alternative to invasive surgeries. These products include the OverStitch Endoscopic Suturing System, the OverStitch Sx Endoscopic Suturing System and the Orbera Intragastric Balloon.

In early November, the company reported total Q3 revenue of US$16.4 million, an increase of 28 percent compared to the same quarter in 2020.

4. Sensus Healthcare

Current share price: US$7.35; year-to-date gain: 90.41 percent

NASDAQ medical device stock Sensus Healthcare (NASDAQ:SRTS) specializes in non-invasive and minimally invasive treatments for both oncological and non-oncological conditions. The company’s product portfolio includes the Sculptura modulated robotic brachytherapy radiation oncology system, which provides targeted directional anisotropic radiation therapy and brachytherapy using its proprietary 3D Beam Sculpting system to treat patients undergoing cancer treatment during surgery.

Sensus recently reported Q3 revenues of US$5.5 million, up 244 percent from the same period in 2020. Revenues for the first nine months of 2021 came in at US$14 million, up 211 percent over the same period in 2020.

5. PAVmed

Current share price: US$2.99; year-to-date gain: 31.72 percent

PAVmed (NASDAQ:PAVM) is a commercial-stage medical technology company with a number of key subsidiaries and a pipeline of products targeting diverse unmet clinical needs. PAVmed subsidiary Lucid Diagnostics (NASDAQ:LUCD) markets the EsoGuard Esophageal DNA Test and EsoCheck Esophageal Cell Collection Device, the only commercial tools for early detection of esophageal pre-cancer and cancer. Another subsidiary, digital health company Veris Health, is developing the first intelligent implantable vascular access port with biologic sensors and wireless communication to provide personalized care to cancer patients through remote monitoring.

Further adding to its asset portfolio, in October PAVmed acquired CapNostics, which manufactures EsophaCap, a non-endoscopic esophageal cell collection device. EsophaCap has been used in pre-commercial clinical research on esophageal pre-cancer biomarkers at major academic medical centers.

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Securities Disclosure: I Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.

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