Evolution in Technology-driven Medical Devices Booming Due To Significant Technological Advancements
PALM BEACH, Florida, October 26, 2017 /PRNewswire/ --
Medical devices are expected to display notable growth in the coming years as a result of rising incidence of infectious diseases along with the rising popularity of non-invasive diagnostic practices. Various products available in the medical devices market are segmented into therapeutic devices, diagnostic and monitoring devices, and injury prevention and rehabilitation devices which are all expected to an exhibit excellent growth rate in the coming years as innovation and advancements in healthcare technologies pick up with a significant pace. According to Transparency Market Research [https://www.transparencymarketresearch.com ], the future worth of the global diagnostic medical devices and mHealth monitoring market is to be around US$8 Billion in 2019. Its valuation in 2012 was around US$600 Million. If these figures hold true, the global diagnostic medical devices and mHealth monitoring market will exhibit a whopping CAGR of 43.30% between 2013 and 2019. Active healthcare stocks in news today include: BioSig Technologies, Inc. (OTC: BSGM), Intuitive Surgical Inc. (NASDAQ: ISRG), Mazor Robotics Ltd. (NASDAQ: MZOR), NuVasive Inc. (NASDAQ: NUVA), Baxter International Inc. (NYSE: BAX).
BioSig Technologies, Inc . (OTCQB: BSGM), a medical device company developing a proprietary platform designed to address an unmet technology need for the $4.6 billion electrophysiology (EP) marketplace, today announced that the Company has concluded a key part of the strategic planning project launched earlier this year in collaboration with Health Research International (HRI). Project goals included understanding and presenting the clinical relevance of BioSig's technology, pricing strategies, and envisioning optimal applications of BioSig's platform technology beyond EP.
As part of the study, HRI conducted a detailed survey of U.S. electrophysiologists primarily based in New York, Texas, Massachusetts, Florida, Pennsylvania and North Carolina. Among the factors interfering with effective ablations, the inability to record high quality unipolar signals and difficulty detecting small intracardiac signals were consistently reported. Read this and more news for BioSig Technologies at: http://www.marketnewsupdates.com/news/bsgm.html
Survey respondents rated all six features of PURE EP System as being 'Very Helpful' for their ablations, emphasizing overall noise reduction and improved signal clarity/accuracy as key benefits. Most respondents see signal clarity as paramount to the success of ablations and indicated interest in a technology that reduces 'noise'. PURE EP System's ability to shorten procedure time - including the ability to perform more complex ablations - was listed as its definitive economic benefit. These expected time savings were largely responsible for the attractive pricing recommended for PURE EP System.
"The two key factors impacting the successful adoption of a new technology are that it address an unmet need and that its ability to fill that need is fairly easily understood. According to our survey results, PURE EP System meets both criteria. The unmet need is interference with the signals that drive complex EP ablation procedures; the solution is PURE EP's ability to eliminate most "noise" and waveform interference, thereby enhancing signal breadth and clarity, and reducing the time required to perform these procedures," commented Suzanne Ratzloff, President of Health Research International, about the survey results.
"We are pleased with the results this study has delivered. Having seen the impact that Health Research International has had on product launches for many established companies in our sector, we knew we were working with a gold standard in strategic planning and market forecasting. We have seen a consistent response amongst the EP community, which has confirmed our expectations for the clinical relevance of PURE EP System. Furthermore, we have seen that the assessment of PURE EP features increased with the size of the respondent's complex ablations caseload, suggesting a greater appreciation of PURE EP among busier EP labs. This is an excellent outcome during this pivotal point in our Company's business development, " said Kenneth Londoner, Chairman & Chief Executive Officer of BioSig Technologies, Inc.
In other healthcare industry news of note:
Intuitive Surgical Inc. (NASDAQ: ISRG) closed up slightly on Wednesday as was also up in afterhour trading. The company recently announced fiscal reports for the third quarter of 2017. For three months ended September 30, 2017, Intuitive Surgical's total revenue increased 18% to $806.1 million from $682.9 million in Q3 FY16. The increase was due to procedure growth and higher systems placements. Total revenue surpassed analysts' expectations of $752 million. During Q3 FY17, the Company's gross profit increased 16.3% to $566.8 million from $487.0 million in the same period last year. For the reported quarter, the Company's gross margin decreased 100 basis points to 70.3% of revenue from 71.3% of revenue in Q3 FY16. For the reported quarter, the Company's adjusted gross margin decreased 130 basis points to 71.7% of revenue from 73% of revenue in Q3 FY16. Read more here: https://finance.yahoo.com/news/earnings-review-free-research-report-115000878.html
Mazor Robotics Ltd. (NASDAQ: MZOR) closed Wednesday and was also up in afterhours trading. Earlier in the week, the company announced results of Mazor Robotics' Renaissance Guidance System, powered by the proprietary Mazor Core(TM) technology, have a five-fold reduction in surgical complications and a seven-fold reduction in revision surgeries, compared to freehand-based minimally invasive lumbar fusion surgeries. "We believe that this is the first ever multi-center study to examine the effect of robotic-guided technology on clinical outcomes in spine surgery using the controlled tools of a prospective study," said Ori Hadomi, Mazor's Chief Executive Officer. "The study's results further validate the clinical superiority of Mazor's technology and highlight the significant value proposition that Mazor provides for patients and surgeons. As the industry leader in this field for 16 years, it is rewarding to deliver such strong scientific evidence to the medical community."
NuVasive Inc. (NASDAQ: NUVA) closed up over 8% on Wednesday with more than 4.1 million shares traded by the market close.. Earlier this week, the company announced it will highlight the Company's latest disruptive spine technology innovation at the North American Spine Society (NASS) Annual Meeting held October 25-28, 2017 in Orlando, Fla. At the event, NuVasive will also celebrate 15 years of leading lateral spine surgery with the Company's flagship XLIF procedure, highlighting its commitment to lead, expand and advance spine technology. "Now more than ever, NuVasive is expanding our portfolio with an unprecedented number of product launches covering spine's leading procedures, materials, expandables and systems," said Matt Link, executive vice president, strategy, technology and corporate development of NuVasive. "The NuVasive leadership team remains committed to furthering its investment in R&D and bringing both first-of-its-kind platforms and disruptive technology to market. Our comprehensive portfolio will continue to reflect the needs of our surgeon partners and provide better and more predictable outcomes for patients."
Baxter International Inc. (NYSE: BAX) last week shared updates regarding recovery efforts following the impact of Hurricane Maria on its Puerto Rico operations. While the company currently anticipates a reduction in revenue for fourth quarter 2017 as a result of the storm, the company expects to mitigate the related earnings impact through positive performance in other areas of the business. Baxter's three Puerto Rico manufacturing sites sustained minimal structural damage from the impact of Hurricane Maria, and limited production activities resumed across its facilities within one week of the storm. Manufacturing operations are being driven by diesel generators designed to power the facilities and satellite communications are also being used to restore connectivity and support plant operations. Baxter appreciates the support and assistance of local and national government agencies and is coordinating with infrastructure providers to advance restoration activities for power, communications and transportation.
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