Anyone who has watched the hyperreactive stock market of late, surging and falling on the smallest bit of news, can understand the frustration of industries that are focused on long term development of products that competitively serve needs of significant and growing numbers of customers.
So, while one should not actually "ignore the elephant" of the current, short-term and, yes, serious economic picture (especially as it impacts in real terms a company’s ability to grow), there is truly merit in focusing on the market drivers that go beyond this quarter’s financial results or last month’s jobs report.
The medical technology industry is indeed poised for significant growth, given such underlying drivers. See a succinct description of drivers here.
Despite what one would view as the most serious short-term limiter of market growth — the availability of operating capital from VC and investment banks — there is indeed capital flowing into medtech (see July month-to-date financings and June transactions). And this is occuring without considering the very large amount of funds sitting in the "equity overhang".
All in all, it does lend some optimism toward the future, yes? Or, perhaps, it gives one some stamina to not get so fixated on that large elephant that refuses to leave the room without a fight.
