NuVasive, Inc. ( NUVA Quick Quote NUVA - Free Report) recently made a significant stride in the field of cervical spine surgery. The company unveiled the C360 cervical spine portfolio along with the commercial launch of the Anterior Cervical Plating (ACP) system that features the thinnest plate available in the market (1.6 mm).
The company believes that C360 portfolio that uses advanced technology for the anterior and posterior cervical spine will bring in better quality of care even in the most established area of spine. NuVasive expects C360 to provide an opportunity to procedurally integrate technology to support the cervical spine, just like its earlier success in lateral single-position surgery with X360.
C360: A Strategic Move
According to NuVasive, the launch of C360 is part of the company’s long-term strategy to focus on a significant area of growth as cervical spine procedures comprise an approximately $2.6 billion segment of the global spine market.
The ACP system within C360 is targeted to reduce common postoperative complications such as dysphagia, malalignment and adjacent level ossification. This system enables customization of treatment to patient needs versus a traditional one-size-fits-all approach.
Another product offering under C360 is a posterior fixation system called Reline Cervical. This is expected to be commercially available in 2021.The C360 portfolio will also integrate advanced level access instrumentation, implants, enabling technologies and biologic materials into a procedural solution.
A Peek into NuVasive's Global Spine Business and Prospects
According to a report by Mordor Intelligence, the market for Spinal Surgery Devices is expected to reach $16.6 billion by 2021 at a CAGR of 5% during 2016 to 2021. Accordingly, NuVasive is currently leaving no stone unturned to capture this fast-growing spine market.
In November, the company received the FDA’s 510(k) clearance for its thoracolumbar interbody portfolio to include the treatment of multi-level sagittal deformities of the thoracolumbar spine. In September, the company announced limited launch of the new Precice Plate for use in limb lengthening and reconstruction procedures from NuVasive Specialized Orthopedics (NSO) for pediatrics or patients with small anatomy.
The company, in July, launched its Time to Evolve campaign to help provide less invasive surgical techniques. NuVasive also expanded its complex spine portfolio with the global commercial availability of Reline 3D (a posterior fixation system for patients suffering from pediatric spinal deformities) in June.
In May, NuVasive’s LessRay radiation reduction and workflow enhancement platform received a MedTech Breakthrough award. In the same month, the company announced the expansion of its Advanced Materials Science implant portfolio with the commercial launch of the Modulus XLIF Dual Sided Plate. NuVasive also received the FDA’s 510(k) clearances for Modulus ALIF and Cohere transforaminal lumbar interbody fusion (TLIF)-O.
Additionally, NuVasive will continue its momentum in transforming the TLIF market by entering into alpha launches for coherent TLIF O and TLIF A.
Over the past six months, NuVasive has underperformed its
industry. The stock has lost 26.4% against the industry's 8.5% rise. Zacks Rank & Key Picks
NuVasive currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader medical space are
Hologic, Inc. ( HOLX Quick Quote HOLX - Free Report) , Align Technology ( ALGN Quick Quote ALGN - Free Report) and ResMed Inc. ( RMD Quick Quote RMD - Free Report) .
Hologic’s long-term earnings growth rate is estimated at 17.4%. It currently sports a Zacks Rank #1 (Strong Buy).You can see
the complete list of today’s Zacks #1 Rank stocks here.
Align Technology has a projected long-term earnings growth rate of 18.3%.The company presently carries a Zacks Rank #2 (Buy).
ResMed’s long-term earnings growth rate is estimated at 14.5%. The company presently carries a Zacks Rank #2.
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