With many medtechs restructuring for core growth in the post-pandemic era, Abbott relied on organic growth in 2022 to move to the top of the global medtech ranking. The strength of the US dollar was not kind to companies reporting in local currencies on converting revenues to dollars.

VITROS COVID-19 tests from Ortho-Clinical Diagnostics have been cleared by the US FDA, establishing regulatory pathway for future similar tests.

News we are keeping an eye on this week includes the FDA’s first traditional market authorization for a COVID-19 test and its approval of a new neurological diagnostic. The agency also updated its device shortage list and revised mammography guidelines.

Abbott Laboratories and Johnson & Johnson joined Medtronic in putting a clear distance between themselves and other global medtechs in the Top 10 by revenues for 2021. Post-COVID-19 procedure growth, and, for Abbott, a strong rebound in non-COVID diagnostic demand, were key drivers.