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The Zacks Medical - Products industry is navigating a difficult operating environment, shaped by rising tariff pressures and sustained cost inflation. Recent U.S. trade measures, including higher duties on imports from China and parts of Europe, have disrupted supply chains and increased input costs for device manufacturers. These dynamics are weighing on margins, as companies struggle to fully pass through higher costs in a price-sensitive healthcare ecosystem.
In parallel, tariff and war-induced inflation in raw materials, components and logistics continues to elevate manufacturing expenses. Given the industry's reliance on global sourcing, these pressures remain significant, particularly in consumer-oriented segments like nutrition, where pricing actions can dampen demand. Additionally, China's volume-based procurement program is exerting pricing pressure on established products, intensifying competition for multinational players.
Despite these headwinds, structural growth drivers remain intact. Companies are investing in innovation, including AI-enabled solutions and digital health platforms, to enhance efficiency and differentiation. Demographic trends — especially a growing aging population — are sustaining demand for chronic disease management across cardiovascular, diabetes and respiratory care. The continued shift toward ambulatory surgery centers in the United States further supports procedural volumes due to their cost advantages and operational efficiency.
Phibro Animal Health, BioLife Solutions, Omeros and Brainsway are countering industry pressures through differentiated innovation pipelines, operational efficiencies and focused execution in their respective growth franchises.
Industry Description
The industry includes companies that provide medical products and cutting-edge technologies for healthcare services. These companies are primarily focused on research and development and cater to vital therapeutic areas like cardiovascular, nephrology and urology devices.
The increase in procedure volumes is driving sales, particularly for surgical products and services. At the same time, cost-cutting measures are helping companies improve their bottom-line performance.
However, the industry's profitability picture is under significant strain. War-related disruptions are likely to cut into margins and may force companies into another complex and costly supply-chain restructuring. Persistent component shortages, though less widespread than in prior years, continue to create inefficiencies and constrain output in certain product lines.
Major Trends Shaping the Future of the Medical Products Industry
AI and Digital Health Integration: AI has rapidly transitioned from narrow diagnostic augmentation to broad, workflow-integrated solutions. Per the FDA list, currently there are more than 1430 FDA-cleared AI/ML-enabled devices, which is likely to increase as several medical device makers are actively developing such devices for efficient and faster diagnosis and treatment. Remote patient monitoring platforms are projected to reach $57 billion by 2030, per a Markets and Markets report.
The digital health services are driving margin expansion, recurring revenue models and ecosystem consolidation. These technologies enable earlier intervention, support value-based care, and fundamentally shift profit pools from hardware to data-driven services, reflecting a deep convergence of clinical and software innovation.
Migration to Ambulatory and Home-Based Care: The U.S. market is experiencing a sustained shift from inpatient hospital settings to ASCs and home-based monitoring. The ASC market is set to reach $205 billion by 2030, per a Grand View Research report, driven by procedure cost efficiency, CMS policy changes and expanded device portfolios tailored for outpatient use. Coupled with increased adoption of wearables and connected devices, care decentralization is reshaping technology requirements, pricing structures and competitive dynamics for device makers.
Accelerating Innovation in Robotics and Specialty Therapeutics: Surgical robotics and specialty cardiovascular interventions are driving the next wave of value creation, with robotics poised for 10.5% CAGR, per a Grand View Research report, and pulsed-field ablation transforming electrophysiology standards.
Intuitive Surgical's platform evolution, entry of versatile competitors and expansion of structural heart solutions (TMVR, PFA) highlight a winner-take-most dynamic — innovation, outcome evidence and ecosystem lock-in are creating durable profit and ROIC advantages, while commoditized hardware businesses are under pressure.
Regulatory and Value-Based Care Transformation: The regulatory environment is evolving, with initiatives like the TCET pathway and bundled payment models rapidly aligning reimbursement and approval processes with evidence-based, value-centric purchasing.This results in faster market access for breakthrough devices and increased pricing pressure on mature categories. Success depends on manufacturers' ability to demonstrate clinical differentiation, deliver outcome gains and participate in risk-sharing arrangements. Those that fail to adapt face margin compression and potential disintermediation.
Zacks Industry Rank
The Zacks Medical Products industry falls within the broader Zacks Medical sector.
It currently carries a Zacks Industry Rank #177, which places it in the bottom 27% of more than 240 Zacks industries.
The group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all member stocks, indicates dull near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Before we present a few medical product stocks that you may want to consider for your portfolio, let's take a look at the industry's recent stock-market performance and valuation picture.
Industry Performance
The industry has underperformed its own sector as well as the Zacks S&P 500 composite over the past year.
Stocks in this industry have collectively declined 22.5% compared with the Zacks Medical sector's fall of 0.4%. The S&P 500 has increased 33.6% in the same time frame.
Industry's Current Valuation
On the basis of the forward 12-month price-to-earnings (P/E), which is commonly used for valuing medical stocks, the industry is currently trading at 17.03X compared with the S&P 500's 22.15X and the sector's 19.48X.
Over the past five years, the industry has traded as high as 27.4X and as low as 17.03X, with the median being at 22.05X.
4 Promising Medical Product Stocks
BioLife Solutions entered 2026 with momentum supported by its strong positioning in the cell and gene therapy (CGT) ecosystem. Growth is expected to be primarily driven by rising demand from commercial-stage CGT customers, particularly for its biopreservation media (BPM), which is embedded in approved therapies and late-stage trials.
The top line is likely to be driven by an increasing mix of commercial revenue, which carries higher volume visibility and stability. Additionally, cross-selling of cell processing tools to existing BPM customers offers incremental upside, with management highlighting potential revenue per patient expansion of 2–3x over time. Strategic partnerships, such as cytokine distribution, further broaden the addressable market.
Margins and bottom-line performance are expected to improve through operating leverage and EBITDA expansion, although near-term gross margin may remain constrained by product mix and prior manufacturing inefficiencies. Resolution of bag yield issues later in 2026 should support margin recovery.
The company expects revenues to grow by 17-20% to $112-$115 million in 2026. For this Bothell, WA-based company, the Zacks Consensus Estimate for 2026 revenues indicates year-over-year growth of 10.9%. The consensus estimate for earnings indicates decline of 30.8%. It delivered a trailing four-quarter earnings surprise of 283.33%, on average. Presently, the company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
BrainsWay is poised for sustained growth in 2026, driven by its transition to a recurring revenue model and expanding clinical adoption of Deep TMS therapy. The company's leasing strategy with enterprise customers enhances revenue visibility, supported by a growing backlog and $70 million in remaining performance obligations. Rising system placement and utilization and broader reimbursement coverage look promising. Recent FDA label expansions and payer support for accelerated treatment protocols are expected to expand the addressable patient population and improve treatment accessibility.
Innovation remains a key catalyst, with the SWIFT protocol reducing treatment duration and improving patient throughput, potentially accelerating adoption. Investments in provider networks and strategic partnerships aim to deepen market penetration and create long-term demand channels.
For 2026, BrainsWay has guided revenue of $66–$68 million (27–30% growth), operating margin of 13–14% and adjusted EBITDA of $12–$14 million, indicating strong bottom-line expansion.
For this Israel-based company, the Zacks Consensus Estimate for fiscal 2026 revenues is pegged at $66 million, projecting 26.4% growth. The consensus mark for EPS is pinned at 31 cents per share, implying a 13.9% decline year over year. The company delivered a trailing four-quarter average earnings surprise of 62.23%. Presently, the company carries a Zacks Rank of 1.
Omeros' 2026 outlook reflects the commercial ramp of YARTEMLEA and the financial flexibility gained from its strategic transaction with Novo Nordisk. The FDA-approved therapy, targeting TA-TMA, addresses a high unmet need and is seeing early traction through rapid formulary adoption and strong payer reimbursement trends.
Revenue growth in 2026 will largely depend on the pace of YARTEMLEA adoption across transplant centers, supported by physician education and expanding market access. Pricing dynamics and treatment duration (8–10 vials per course) provide meaningful revenue potential per patient.
The Novo Nordisk deal provides a $240 million upfront payment and significant milestone opportunities, strengthening the balance sheet and funding pipeline development.
On the cost side, increased commercial spending tied to the product launch will weigh on near-term margins. However, management expects the YARTEMLEA franchise to be self-sustaining in 2026, with company-wide cash flow positivity targeted by 2027. Omeros has not provided formal 2026 revenue guidance due to the early-stage launch dynamics.
For this Seattle, WA-based company, the Zacks Consensus Estimate for fiscal 2026 revenues is pegged at $13.8 million. The consensus mark for loss per share is pinned at $1.54. The company delivered a trailing four-quarter average earnings surprise of 247.26%. Presently, the company carries a Zacks Rank #1.
Phibro Animal Health Corporation enters 2026 with solid momentum, supported by early execution strength and portfolio expansion. A key growth driver is the integration of the Zoetis Medicated Feed Additive (MFA) portfolio, which contributed $80.5 million in first-quarter fiscal 2026 sales and significantly accelerated growth in the MFA segment. The combination of legacy and acquired products is enabling more comprehensive customer solutions, while expected pricing benefits from the Zoetis portfolio should support margin expansion as the year progresses.
Lower feed and grain costs are also encouraging producers to increase spending on animal health solutions, reinforcing demand trends. In parallel, the company's expansion into companion animal care, led by the Restoris launch, is expected to provide incremental revenue opportunities. Emerging consumption trends tied to GLP-1 therapies—favoring higher-quality animal protein—may further support long-term demand fundamentals.
Operationally, the Phibro Forward initiative is driving efficiency gains, contributing to EBITDA and margin improvement. Strong vaccine performance, particularly in international markets such as Latin America, alongside growth in higher-margin Nutritional Specialties, is enhancing profitability. Reflecting these tailwinds and execution progress, management has raised its full-year fiscal 2026 guidance for adjusted EBITDA and net income.
For this Teaneck, NJ-based company, the Zacks Consensus Estimate for fiscal 2026 revenues is pegged at $1.48 billion, projecting 14.5% growth. The consensus mark for EPS is pinned at $3.03, implying a 45% improvement year over year. The company delivered a trailing four-quarter average earnings surprise of 20.15%. Presently, it carries a Zacks Rank #2 (Buy).
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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.
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Zacks Industry Outlook Highlights Phibro Animal Health, BioLife Solutions, Omeros and Brainsway
For Immediate Release
Chicago, IL – April 28, 2026 – Today, Zacks Equity Research discusses Phibro Animal Health (PAHC - Free Report) , BioLife Solutions (BLFS - Free Report) , Omeros (OMER - Free Report) and Brainsway (BWAY - Free Report) .
Industry: Medical Products
Link: https://www.zacks.com/commentary/2908123/4-medical-product-stocks-to-buy-from-a-challenging-industry
The Zacks Medical - Products industry is navigating a difficult operating environment, shaped by rising tariff pressures and sustained cost inflation. Recent U.S. trade measures, including higher duties on imports from China and parts of Europe, have disrupted supply chains and increased input costs for device manufacturers. These dynamics are weighing on margins, as companies struggle to fully pass through higher costs in a price-sensitive healthcare ecosystem.
In parallel, tariff and war-induced inflation in raw materials, components and logistics continues to elevate manufacturing expenses. Given the industry's reliance on global sourcing, these pressures remain significant, particularly in consumer-oriented segments like nutrition, where pricing actions can dampen demand. Additionally, China's volume-based procurement program is exerting pricing pressure on established products, intensifying competition for multinational players.
Despite these headwinds, structural growth drivers remain intact. Companies are investing in innovation, including AI-enabled solutions and digital health platforms, to enhance efficiency and differentiation. Demographic trends — especially a growing aging population — are sustaining demand for chronic disease management across cardiovascular, diabetes and respiratory care. The continued shift toward ambulatory surgery centers in the United States further supports procedural volumes due to their cost advantages and operational efficiency.
Phibro Animal Health, BioLife Solutions, Omeros and Brainsway are countering industry pressures through differentiated innovation pipelines, operational efficiencies and focused execution in their respective growth franchises.
Industry Description
The industry includes companies that provide medical products and cutting-edge technologies for healthcare services. These companies are primarily focused on research and development and cater to vital therapeutic areas like cardiovascular, nephrology and urology devices.
The increase in procedure volumes is driving sales, particularly for surgical products and services. At the same time, cost-cutting measures are helping companies improve their bottom-line performance.
However, the industry's profitability picture is under significant strain. War-related disruptions are likely to cut into margins and may force companies into another complex and costly supply-chain restructuring. Persistent component shortages, though less widespread than in prior years, continue to create inefficiencies and constrain output in certain product lines.
Major Trends Shaping the Future of the Medical Products Industry
AI and Digital Health Integration: AI has rapidly transitioned from narrow diagnostic augmentation to broad, workflow-integrated solutions. Per the FDA list, currently there are more than 1430 FDA-cleared AI/ML-enabled devices, which is likely to increase as several medical device makers are actively developing such devices for efficient and faster diagnosis and treatment. Remote patient monitoring platforms are projected to reach $57 billion by 2030, per a Markets and Markets report.
The digital health services are driving margin expansion, recurring revenue models and ecosystem consolidation. These technologies enable earlier intervention, support value-based care, and fundamentally shift profit pools from hardware to data-driven services, reflecting a deep convergence of clinical and software innovation.
Migration to Ambulatory and Home-Based Care: The U.S. market is experiencing a sustained shift from inpatient hospital settings to ASCs and home-based monitoring. The ASC market is set to reach $205 billion by 2030, per a Grand View Research report, driven by procedure cost efficiency, CMS policy changes and expanded device portfolios tailored for outpatient use. Coupled with increased adoption of wearables and connected devices, care decentralization is reshaping technology requirements, pricing structures and competitive dynamics for device makers.
Accelerating Innovation in Robotics and Specialty Therapeutics: Surgical robotics and specialty cardiovascular interventions are driving the next wave of value creation, with robotics poised for 10.5% CAGR, per a Grand View Research report, and pulsed-field ablation transforming electrophysiology standards.
Intuitive Surgical's platform evolution, entry of versatile competitors and expansion of structural heart solutions (TMVR, PFA) highlight a winner-take-most dynamic — innovation, outcome evidence and ecosystem lock-in are creating durable profit and ROIC advantages, while commoditized hardware businesses are under pressure.
Regulatory and Value-Based Care Transformation: The regulatory environment is evolving, with initiatives like the TCET pathway and bundled payment models rapidly aligning reimbursement and approval processes with evidence-based, value-centric purchasing.This results in faster market access for breakthrough devices and increased pricing pressure on mature categories. Success depends on manufacturers' ability to demonstrate clinical differentiation, deliver outcome gains and participate in risk-sharing arrangements. Those that fail to adapt face margin compression and potential disintermediation.
Zacks Industry Rank
The Zacks Medical Products industry falls within the broader Zacks Medical sector.
It currently carries a Zacks Industry Rank #177, which places it in the bottom 27% of more than 240 Zacks industries.
The group's Zacks Industry Rank, which is basically the average of the Zacks Rank of all member stocks, indicates dull near-term prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Before we present a few medical product stocks that you may want to consider for your portfolio, let's take a look at the industry's recent stock-market performance and valuation picture.
Industry Performance
The industry has underperformed its own sector as well as the Zacks S&P 500 composite over the past year.
Stocks in this industry have collectively declined 22.5% compared with the Zacks Medical sector's fall of 0.4%. The S&P 500 has increased 33.6% in the same time frame.
Industry's Current Valuation
On the basis of the forward 12-month price-to-earnings (P/E), which is commonly used for valuing medical stocks, the industry is currently trading at 17.03X compared with the S&P 500's 22.15X and the sector's 19.48X.
Over the past five years, the industry has traded as high as 27.4X and as low as 17.03X, with the median being at 22.05X.
4 Promising Medical Product Stocks
BioLife Solutions entered 2026 with momentum supported by its strong positioning in the cell and gene therapy (CGT) ecosystem. Growth is expected to be primarily driven by rising demand from commercial-stage CGT customers, particularly for its biopreservation media (BPM), which is embedded in approved therapies and late-stage trials.
The top line is likely to be driven by an increasing mix of commercial revenue, which carries higher volume visibility and stability. Additionally, cross-selling of cell processing tools to existing BPM customers offers incremental upside, with management highlighting potential revenue per patient expansion of 2–3x over time. Strategic partnerships, such as cytokine distribution, further broaden the addressable market.
Margins and bottom-line performance are expected to improve through operating leverage and EBITDA expansion, although near-term gross margin may remain constrained by product mix and prior manufacturing inefficiencies. Resolution of bag yield issues later in 2026 should support margin recovery.
The company expects revenues to grow by 17-20% to $112-$115 million in 2026. For this Bothell, WA-based company, the Zacks Consensus Estimate for 2026 revenues indicates year-over-year growth of 10.9%. The consensus estimate for earnings indicates decline of 30.8%. It delivered a trailing four-quarter earnings surprise of 283.33%, on average. Presently, the company sports a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks here.
BrainsWay is poised for sustained growth in 2026, driven by its transition to a recurring revenue model and expanding clinical adoption of Deep TMS therapy. The company's leasing strategy with enterprise customers enhances revenue visibility, supported by a growing backlog and $70 million in remaining performance obligations. Rising system placement and utilization and broader reimbursement coverage look promising. Recent FDA label expansions and payer support for accelerated treatment protocols are expected to expand the addressable patient population and improve treatment accessibility.
Innovation remains a key catalyst, with the SWIFT protocol reducing treatment duration and improving patient throughput, potentially accelerating adoption. Investments in provider networks and strategic partnerships aim to deepen market penetration and create long-term demand channels.
For 2026, BrainsWay has guided revenue of $66–$68 million (27–30% growth), operating margin of 13–14% and adjusted EBITDA of $12–$14 million, indicating strong bottom-line expansion.
For this Israel-based company, the Zacks Consensus Estimate for fiscal 2026 revenues is pegged at $66 million, projecting 26.4% growth. The consensus mark for EPS is pinned at 31 cents per share, implying a 13.9% decline year over year. The company delivered a trailing four-quarter average earnings surprise of 62.23%. Presently, the company carries a Zacks Rank of 1.
Omeros' 2026 outlook reflects the commercial ramp of YARTEMLEA and the financial flexibility gained from its strategic transaction with Novo Nordisk. The FDA-approved therapy, targeting TA-TMA, addresses a high unmet need and is seeing early traction through rapid formulary adoption and strong payer reimbursement trends.
Revenue growth in 2026 will largely depend on the pace of YARTEMLEA adoption across transplant centers, supported by physician education and expanding market access. Pricing dynamics and treatment duration (8–10 vials per course) provide meaningful revenue potential per patient.
The Novo Nordisk deal provides a $240 million upfront payment and significant milestone opportunities, strengthening the balance sheet and funding pipeline development.
On the cost side, increased commercial spending tied to the product launch will weigh on near-term margins. However, management expects the YARTEMLEA franchise to be self-sustaining in 2026, with company-wide cash flow positivity targeted by 2027. Omeros has not provided formal 2026 revenue guidance due to the early-stage launch dynamics.
For this Seattle, WA-based company, the Zacks Consensus Estimate for fiscal 2026 revenues is pegged at $13.8 million. The consensus mark for loss per share is pinned at $1.54. The company delivered a trailing four-quarter average earnings surprise of 247.26%. Presently, the company carries a Zacks Rank #1.
Phibro Animal Health Corporation enters 2026 with solid momentum, supported by early execution strength and portfolio expansion. A key growth driver is the integration of the Zoetis Medicated Feed Additive (MFA) portfolio, which contributed $80.5 million in first-quarter fiscal 2026 sales and significantly accelerated growth in the MFA segment. The combination of legacy and acquired products is enabling more comprehensive customer solutions, while expected pricing benefits from the Zoetis portfolio should support margin expansion as the year progresses.
Lower feed and grain costs are also encouraging producers to increase spending on animal health solutions, reinforcing demand trends. In parallel, the company's expansion into companion animal care, led by the Restoris launch, is expected to provide incremental revenue opportunities. Emerging consumption trends tied to GLP-1 therapies—favoring higher-quality animal protein—may further support long-term demand fundamentals.
Operationally, the Phibro Forward initiative is driving efficiency gains, contributing to EBITDA and margin improvement. Strong vaccine performance, particularly in international markets such as Latin America, alongside growth in higher-margin Nutritional Specialties, is enhancing profitability. Reflecting these tailwinds and execution progress, management has raised its full-year fiscal 2026 guidance for adjusted EBITDA and net income.
For this Teaneck, NJ-based company, the Zacks Consensus Estimate for fiscal 2026 revenues is pegged at $1.48 billion, projecting 14.5% growth. The consensus mark for EPS is pinned at $3.03, implying a 45% improvement year over year. The company delivered a trailing four-quarter average earnings surprise of 20.15%. Presently, it carries a Zacks Rank #2 (Buy).
Why Haven't You Looked at Zacks' Top Stocks?
Since 2000, our top stock-picking strategies have blown away the S&P's +7.7% average gain per year. Amazingly, they soared with average gains of +48.4%, +50.2% and +56.7% per year.
Today you can access their live picks without cost or obligation.
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Zacks Investment Research is under common control with affiliated entities (including a broker-dealer and an investment adviser), which may engage in transactions involving the foregoing securities for the clients of such affiliates.
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Past performance is no guarantee of future results. Inherent in any investment is the potential for loss. This material is being provided for informational purposes only and nothing herein constitutes investment, legal, accounting or tax advice, or a recommendation to buy, sell or hold a security. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. It should not be assumed that any investments in securities, companies, sectors or markets identified and described were or will be profitable. All information is current as of the date of herein and is subject to change without notice. Any views or opinions expressed may not reflect those of the firm as a whole. Zacks Investment Research does not engage in investment banking, market making or asset management activities of any securities. These returns are from hypothetical portfolios consisting of stocks with Zacks Rank = 1 that were rebalanced monthly with zero transaction costs. These are not the returns of actual portfolios of stocks. The S&P 500 is an unmanaged index. Visit https://www.zacks.com/performance for information about the performance numbers displayed in this press release.