Recently announced, medical device major Boston Scientific Corporation (BSX - Free Report) began patient enrollment for its INTREPID trial in the U.S. with the first implantation of its Vercise DBS System.
The INTREPID trial will analyze the clinical efficacy of its Vercise DBS System for the treatment of Parkinson’s disease. This forthcoming clinical study conducted by Boston Scientific is a multi-center, double-blind, randomized and control study to assess the motor functions in affected patients.
The Vercise DBS System won the European CE Mark approval in the third quarter of 2012. Boston Scientific also gained the Australia Therapeutic Goods Administration (TGA) clearance for the system. The company had earlier revealed plans to initiate a clinical trial for the treatment of Parkinson’s disease in the U.S. in 2013.
According to findings from World Health Organization (WHO) and Parkinson's Disease Foundation, Parkinson’s disease is a progressive neurodegenerative disorder that plagues over a million individuals in the U.S. and about 7-10 million individuals across the globe.
The emerging DBS therapy is a part of Boston Scientific’s neuromodulation business. Last month, Boston Scientific gained the CE Mark approval in Europe for its GUIDE DBS System. Given the untapped market opportunity, commercialization of DBS systems should accelerate growth for the neuromodulation franchise.
As per the company’s estimates, the global DBS market could exceed $700 million by 2017 based on 10% CAGR. The commercialization of innovative offerings to expand portfolio should bolster revenues to achieve Boston Scientific’s target of $50 million in revenues from DBS therapy by 2017.
Currently, the stock carries a Zacks Rank #3 (Hold). The company’s peers such as Medtronic Inc. (MDT - Free Report) and St. Jude Medical are also major players in the DBS market. While we have a neutral stance on these med-tech majors, Haemonetics Corporation (HAE - Free Report) , carrying a Zacks Rank #1 (Strong Buy) is worth considering.