Most of the advances in medicine today are related to medical technology. On one hand, we have the pharmaceutical companies with their efforts to develop new drugs and treatments for many kinds of diseases. These efforts have been for the most part very lucrative since pharmaceutical and biotechnology companies have for many years enjoyed considerable investments, even when the stock market has gone through difficult times. On the other hand, we have the medical devices industry, also trying to provide medical technology products for the diagnosis and treatment of diseases and anomalies. The financial situation of such medical devices companies has fluctuated more than that of those in the pharmaceutical–biotechnology fields but for the most part they have held their own, even in turbulent financial times.
In the realm of medical devices, companies involved in the design, development, manufacturing, testing, and FDA approval of medical electronic devices are at the forefront of medical technology. Over the last 30 years, such technological advances as magnetic resonance imaging, nuclear radiation, optical diagnostical devices, EKG and EEG measurement devices, pacemakers, defibrillators, hearing aids, and portable diagnostic meters (glucose, oximetry, pulse analyzers) have made the diagnosis and treatment of medical ailments a much more productive endeavor, saving millions of lives and postponing death for many millions more.