The rising demand for advanced medical devices with the increasing focus on treating ailments other than COVID-19 bodes wells for Integer Holdings (NYSE:ITGR) and Conformis (CFMS). But which of these two stocks is a better buy now? Read more to find out.Integer Holdings Corporation (ITGR) is a medical device outsource manufacturer internationally. It operates in two segments, Medical and Non-Medical. The company offers products for interventional cardiology, structural heart, heart failure, peripheral vascular, and other procedures. In comparison, Conformis, Inc. (CFMS) is a medical technology company that develops, manufactures, and sells joint replacement implants. The company offers personalized knee replacement products, including iTotal CR, a cruciate-retaining product; iTotal PS, a posterior cruciate ligament substituting product; and iDuo, a personalized bicompartmental knee replacement system.
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.