It’s All About Precision
3 Jan 2022
Despite the slowdown in elective medical procedures prompted by the COVID-19 pandemic, 2021 has been a banner year for medical device manufacturers. Capital commitments within the sector, according to a report issued in late July by Silicon Valley Bank, are way up.
“Looking at dollars raised,” says the report, “U.S. and European medical device startups raised $4.6 billion in the first half of this year, putting 2021 on pace to eclipse total dollars raised in 2020 ($5.2 billion raised) and 2019 ($4.8 billion raised).” While North American companies continue to dominate, the report notes that European startups accounted for 34% of the dollars raised by medical device companies, up from 11% in 2020.