Three key takeaways:
1. EBITDA in the medical products and devices sector is expected to grow in the low double digits over the next 12 to 18 months, although recovery progress will vary by subsector.
2. After recording revenue declines of more than 10 percent this year, manufacturers of dental, eye care and orthopedic products face a longer path to recovery than makers of devices for treating high-acuity conditions.
3. Sales of COVID-19 testing kits will help some device manufacturers recoup revenue losses, but rapid innovations in testing could render some kits obsolete. Additionally, testing will likely decline once effective vaccines become widely available.
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