Stryker Corporation’s ( SYK Quick Quote SYK - Free Report) Trauma & Extremities division recently introduced a Citrelock Tendon Fixation Device System, which offers surgeons a differentiated design through a tendon thread featuring Citregen -- a resorbable technology. Citregen, in particular, has chemical and mechanical qualities intended for orthopaedic surgical applications.
The company is expected to debut the Citrelock Tendon Fixation Device System at the American Orthopaedic Foot & Ankle Society (AOFAS) Annual Meeting from Sep 22 to Sep 25, 2021, in Charlotte, NC. In addition, the company will host a new product reception, highlighting the benefits of Citrelock alongside other recent Foot & Ankle portfolio additions.
Per management, the Citrelock Tendon Fixation Device System, armed with its innovative material technology and unique design, helps fulfill the requirement of a more predictable and effective bioresorbable material compared to what is available on the market at present.
The recent launch of Citrelock Tendon Fixation Device System is likely to bolster Stryker’s Foot & Ankle portfolio.
Citrelock Features in Detail
The Citrelock Tendon Fixation Device System utilizes Citregen’s unique material properties features to ease insertion and secure fixation without damaging the tendon during placement. Notably, Citregen adds to Stryker’s existing biomaterial portfolio and will be expanded for use in additional Stryker Trauma & Extremities indications in the future.
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The Citrelock Tendon Fixation Device System provides surgeons a controlled and homogeneous resorption process that prevents bulk degradation and chronic inflammation as well as compressive strength that is similar to cortical bone with a modulus comparable to cancellous bone, and material polymer structure that mimics the extracellular matrix protein network. It incorporates Citregen, which is made up of citrate, calcium, and phosphate molecules, inherent to the bone anatomy. During the healing process, Citregen maintains structural integrity while the implant is gradually replaced by host tissue over time.
Industry Prospects Per a report published in MarketsandMarkets, the foot and ankle devices market is projected to see a CAGR of 6.4% by 2025. The growing trend of using bioresorbable implants and devices in reconstruction, which eliminates the need for surgery to remove devices, is one of the major reasons supporting market growth. Further, several benefits associated with foot and ankle devices and growing focus on the development of specialized products for various foot and ankle disorders and deformities by key players are among the other factors driving the market.
Given the substantial market prospects, the recent launch of Stryker’s Citrelock Tendon Fixation Device System seems strategic.
During its earnings call for the second quarter of 2021, Stryker noted that organic sales growth for the quarter was 9.3%, which represented growth across all of the company’s major businesses compared to 2019. The strong quarterly performance was led by strength exhibited by Neurovascular, Mako, emergency care, sports medicine and U.S. shoulder and total ankle products.
Apart from this, the company reported that the combined Trauma and Extremities business, which includes Wright Medical, grew 7% during the second quarter compared to 2019 on double-digit growth in the U.S. Trauma and Upper Extremities businesses. The reopening of economies and continued success of key products such as T2 Alpha and the mini-frag plating system benefited the company’s Trauma arm. Meanwhile, the U.S. upper extremities business exhibited strong double-digit growth in the quarter owing to sustained strength in the reverse ARPA plastic portfolio.
Share Price Performance
The stock has outperformed its
industry over the past year. It has rallied 30.5% compared with the industry’s 10.9% rise. Zacks Rank and Key Picks
Currently, Stryker carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the Medical-Products industry include
VAREX IMAGING ( VREX Quick Quote VREX - Free Report) , Envista Holdings Corporation ( NVST Quick Quote NVST - Free Report) and BellRing Brands, Inc. ( BRBR Quick Quote BRBR - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
VAREX has a long-term earnings growth rate of 5%.
Envista Holdings has a long-term earnings growth rate of 27.4%.
BellRing Brands has a long-term earnings growth rate of 29.1%.