Assuming that the Central conventional economic theory is correct, medical device companies should not be able to sustain high profits for long periods of time. However, these companies have been able to do so for several decades now. Part of the reason for this is because of the continuous growth in population and the prevalence of diseases. Additionally, the near-infinite capacity for absorbing medical technology in medicine also plays a role. With the ever-increasing healthcare needs of the aging population in developed countries, and the expectations of the middle class in developing countries, the demand for medical devices is expected to continue to rise. This will likely result in increased profits for medical device companies in the future.
Source: https://www.medicaldevice-network.com/comment/medical-device-industry-growth/