NuVasive ( NUVA Quick Quote NUVA - Free Report) , to capture the unmet demand of the emerging market for advanced spine surgery line, recently announced the opening of its Singapore Experience Center for the Asia-Pacific region. The company expects this investment to play a crucial role in expanding the its global footprint.
According to NuVasive, this center will provide surgeons across the Asia-Pacific region the opportunity to get trained by faculty surgeons in Singapore. It will also provide office space for cross-functional support staff to drive business growth.
NuVasive noted that this latest Experience Center, as part of the company's Clinical Professional Development (CPD) program, will complement the flagship Experience Centers in San Diego and the New York metropolitan area.
One of the significant features that the Singapore Experience Center will have is a dedicated Pulse demonstration site, providing practical experience with the only enabling technology platform currently on the market with the ability to be utilized in 100% of spine procedures.
NuVasive's Prospects in the Global Spine Market
Per a report by MarketsAndMarkets, the global spinal implants and surgery devices market is projected to reach $13.8 billion by 2025 from $10.3 billion in 2019 at a CAGR of 5%. Accordingly, NuVasive is currently leaving no stone unturned to capture this fast-growing spine market.
According to NuVasive, the international region holds tremendous growth opportunities for the company. In the first quarter, the company registered international sales growth of 10.5% on a reported basis and 18.6% on a constant-currency basis year over year. The robust international performance was led by double-digit growth across Europe, Latin America and Japan.
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NuVasive anticipates continued global expansion, banking on its differentiated technologies and global infrastructure. Per the first-quarter earnings update, the company expects the international business to benefit from the return of the Precise system from NuVasive Specialized Orthopedics in key markets outside the United States. This Precise system recently recorded a new milestone, surpassing 100 peer-reviewed publications. The milestone further supports the clinical benefits and efficacy of the novel technology.
Share Price Performance
Over the past three months, NuVasive has outperformed its
industry. The stock has lost 8.3% compared with the industry's 17.9% fall. Zacks Rank and Key Picks
NuVasive currently carries a Zacks Rank #3 (Hold).
A few better-ranked stocks in the broader medical space that investors can consider are
AMN Healthcare Services, Inc. ( AMN Quick Quote AMN - Free Report) , Novo Nordisk ( NVO Quick Quote NVO - Free Report) and Masimo Corporation ( MASI Quick Quote MASI - Free Report) .
AMN Healthcare has a long-term earnings growth rate of 1.1%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 15.6%, on average. It currently sports a Zacks Rank #1 (Strong Buy). You can see
the complete list of today’s Zacks #1 Rank stocks here.
AMN Healthcare has outperformed its industry in the past year. AMN has gained 12.1% against the industry’s 45.7% fall.
Novo Nordisk has a long-term earnings growth rate of 14.5%. The company surpassed earnings estimates in the trailing four quarters, delivering a surprise of 7.6%, on average. It currently carries a Zacks Rank #2 (Buy).
Novo Nordisk has outperformed its industry in the past year. NVO has gained 32% against the industry’s 16.8% growth.
Masimo has a historical earnings growth rate of 15.1%. Masimo’s earnings surpassed estimates in the trailing four quarters, the average surprise being 4.4%. It currently carries a Zacks Rank #2.
Masimo has underperformed its industry in the past year. MASI has declined 47.5% compared with the industry’s 25.9% plunge.