A series of federal investments and an influx of new technology within the sector has led industry experts to predict an across-the-board rise for medical supply companies.
The Associated Press reported that analysts have backed the Danaher Corporation to grow and increase its revenue stream, as the New York-based medical supply company purchased a rival business and has announced plans for expansion.
Officials from Danaher have noted that the new technology acquired in the merger, coupled with a new portfolio, could lead the company into uncharted territory within the sector, the news outlet reported.
"While the macro headlines are giving everyone pause, Danaher's acquisition of Beckman provides some visibility on sales and earnings growth notwithstanding the challenges that may arise next year in the core portfolio," James Lucas, an analyst with Janney Capital, told the AP.
The New York area is not the only region to report growth within the sector, as a Wisconsin company has been the recipient of recent federal funding for medical supplies, something that could increase in the next several years, according to the Sheboygan Press.