Leading 5 NASDAQ Medical Gadget Stocks of 2023 


The growing occurrence of persistent illness like cancer and diabetes is driving increasing development in medical gadget innovation In 2023 alone, 40 brand-new gadgets were authorized by the United States Fda (FDA).

Wearable medical gadgets and using expert system in medical innovation are 2 crucial patterns in this sector. Progressing, the worldwide medical gadget market is anticipated to grow from US$ 536.12 billion in 2023 to US$ 799.67 billion by 2030.

Financiers who desire direct exposure to this wave of development might wish to think about NASDAQ medical gadget stocks. With 2023 nearing its end, here the Investing News Network has a look back at the top-performing NASDAQ medical gadget business year-to-date.


All information was assembled on December 21, 2023, utilizing TradingView’s stock screener, and the medical gadget makers noted below had market caps in between US$ 50 million and US$ 500 million at that time.

1. NeuroPace (NASDAQ: NPCE)

Year-to-date gain: 540.43 percent; market cap: US$ 232348 million; existing share rate: US$ 8.84

The very first leading NASDAQ medical gadget stock on our list is commercial-stage NeuroPace. The business’s RNS System is the very first and just commercially offered, brain-responsive platform for the treatment of drug-resistant epileptic seizures. The platform likewise has the possible to deal with clients with other brain conditions.

NeuroPace’s share rate acquired much forward momentum in the 4th quarter of this year, increasing to a year-to-date high of US$ 10.30 on December 20th. In October, the business revealed the launch of a variety of improvements to the registered nurses System developed to streamline its usage by both clients and clinicians to enhance results. Not long after, NeuroPace launched its Q3 2023 financials, revealing a 47 percent boost in incomes over the very same duration in 2015. As an outcome, the business increased its full-year profits assistance to US$ 62.5 million-US$ 63.5 million, up from US$ 59 million-US$ 61 million.

2. Pulse Biosciences (NASDAQ: PLSE)

Year-to-date gain: 339.87 percent; market cap: US$ 670205 million; existing share rate: US$ 12.18

Unique bioelectric medication business Pulse Biosciences’ exclusive CellFX Nanosecond Pulsed Field Ablation (nsPFA) innovation is developed to deal with atrial fibrillation. The business thinks there might be a number of other applications in cardiology for nsPFA.

While shares for Pulse Biosciences dipped almost half to the US$ 4 level in the 3rd quarter of the year. Nevertheless, Q4 brought a huge increase to the stock which reached its greatest rate for the year at US$ 13.05 on December 19th. The business submitted a premarket alert 510( k) to the FDA for its unique CellFX nsPFA percutaneous electrode in November. The following month, Pulse Biosciences finished the very first 5 treatments in its first-in-human expediency research study of its CellFX nsPFA heart catheter.

3. AVITA Medical (NASDAQ: RCEL)

Year-to-date gain: 88.88 percent; market cap: US$ 319 million; existing share rate: US$ 12.49

Successive on our leading NASDAQ medical gadget stock list is AVITA Medical, a regenerative medication business establishing and advertising first-in-class gadgets and autologous cellular treatments for skin remediation.

AVITA has actually had a couple of FDA approvals for its items in mid-year 2023, consisting of a premarket approval (PMA) supplement for using its RECELL ® System to deal with full-thickness skin flaws; and PMA of its RECELL ® System for the treatment of vitiligo, the very first FDA-approved restorative gadget using a one-time treatment at the point-of-care.

After beginning 2023 with its share rate at a low of US$ 6.32, the stock went on to strike its greatest rate for the year at US$ 21.70 on July 17th. In November, AVITA revealed its incomes for Q3 2023 grew by 51 percent over the very same duration in the previous year.

4. Accuray (NASDAQ: ARAY)

Year-to-date gain: 35.55 percent; market cap: US$ 277.626 million; existing share rate: US$ 2.86

Accuray establishes and advertises radiation treatment innovation targeted at oncology to neuro-radiosurgery, with the capacity for applications in extra indicators. Its items consist of the CyberKnife ® and TomoTherapy ® platforms.

In June, the business revealed its addition in the Russell 2000 ® Index and the broad-market Russell 3000 ® Index. Later on in the summer season, Accuray got 510( k) clearance from the FDA for its VitalHold ™ breast bundle on the Radixact ® System. The business’s stock reached a year-to-date high of US$ 4.29 on July 31st.

Later on in the year, the Tomo ® C radiation treatment system was authorized by the Chinese National Medical Products Administration; and the business started sales of the VitalHold ™ bundle supporting surface-guided radiation treatment on the Radixact ® System in Japan. Accuray just recently reported financials for its Q1 2024 , highlighting a net profits boost of 7.7 percent over the very same duration in the previous year to reach US$ 103.9 million.

5. CVRx (NASDAQ: CVRX)

Year-to-date gain: 34.08 percent; market cap: US$ 51602 million; existing share rate: US$ 24.98

Last on this list of NASDAQ medical gadget stocks is CVRx, the designer of the world’s very first FDA-approved neuromodulation gadget to deal with signs of cardiac arrest. The business’s exclusive unique baroreceptor neuromodulation treatments are developed to resolve imbalances of the free nerve system that can cause cardiac arrest and other heart diseases.

In its Q3 2023 financials, CVRx reported overall incomes of US$ 10.5 million, a boost of 70 percent over the previous year quarter. On December 14, CVRx saw its share rate struck its acme in 2023, increasing to US$ 25.24.

Do not forget to follow us @INN_LifeScience for real-time news updates!

Securities Disclosure: I Melissa Pistilli, hold no direct financial investment interest in any business discussed in this short article.

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