Merit Medical Systems, Inc. ( MMSI Quick Quote MMSI - Free Report) recently announced the U.S. commercial release of its PreludeSYNC EZ Radial Compression Device. It complements the company’s radial portfolio of products that includes the Prelude IDeal, Merit Medical’s thin-walled hydrophilic sheath introducer with improved kink and compression resistance.
The new device is the latest addition to Merit Medical’s product suite to advance transradial access for endovascular patient care.
The latest launch is expected to solidify Merit Medical’s foothold in the domestic cardiovascular space.
Significance of the Release
Per Merit Medical’s estimates, the rate of radial artery access use in the United States is presently registering a significant rise. The benefits from this process include fewer bleeding complications, improved patient comfort and decreased procedure costs, unlike femoral procedures or those performed through the femoral artery in the groin.
The PreludeSYNC EZ Radial Compression Device has been designed for optimal clinical performance, as it aids in achieving access site patent hemostasis (the prevention of bleeding) following radial artery access procedures.
The device is equipped with an exclusive cinch-style wristband that supports controlled and precise two-handed placement. This is a key feature that differentiates it from other radial compression devices currently available in the market. Besides, a large window provides clear visibility that has been designed to further help with precise placement. The device has been engineered for the benefit of both patient and clinician as it provides a simplified alternative to the two-strap compression band currently on the market.
Industry Prospects Per a report by Verified Market Research published on BCC Research, the global radial artery compression devices market was valued at $357.31 million in 2019 and is anticipated to reach $633.71 million by 2027 at a CAGR of approximately 7.4%. Factors like the rapid growth in the elderly population leading to the subsequent increase in the prevalence of cardiovascular diseases and widespread unhealthy lifestyle choices are likely to drive the market.
Given the market potential, the latest launch is expected to provide a significant boost to Merit Medical’s business in the niche space.
Last month, Merit Medical announced its third-quarter 2022 results, where it registered better-than-expected performance and saw a year-over-year uptick in the top and bottom lines. Merit Medical also recorded revenue growth in the Cardiovascular segment and across the majority of its product categories within its Cardiovascular unit. Solid product sales were also promising. Robust performances in the United States and outside were impressive.
In September, Merit Medical announced the U.S. commercial release of the TEMNO Elite Soft Tissue Biopsy System, the latest addition to its comprehensive portfolio of biopsy devices.
The same month, Merit Medical announced the U.S. commercial release of the Prelude Roadster Guide Sheath. Following the release, the Prelude Roadster becomes the latest addition to the Merit Vascular-Peripheral Access portfolio, which includes introducers and other products like access kits, vessel dilators and accessories.
Merit Medical stock has gained 3.2% over the past year against the
industry’s 12.7% decline and the S&P 500's 17.3% fall. Image Source: Zacks Investment Research Zacks Rank & Other Key Picks
Currently, Merit Medical carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks in the broader medical space are
AMN Healthcare Services, Inc. ( AMN Quick Quote AMN - Free Report) , ShockWave Medical, Inc. ( SWAV Quick Quote SWAV - Free Report) and McKesson Corporation ( MCK Quick Quote MCK - Free Report) .
AMN Healthcare, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 3.3%. AMN’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 10.9%.
You can see
the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
AMN Healthcare has gained 3.6% against the
industry’s 33.1% decline in the past year.
ShockWave Medical, carrying a Zacks Rank #2 at present, has an estimated growth rate of 23.6% for 2023. SWAV’s earnings surpassed estimates in all the trailing four quarters, the average beat being 146.1%.
ShockWave Medical has gained 27.9% against the
industry’s 26.9% decline over the past year.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.1%. MCK’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 4.8%.
McKesson has gained 62.9% against the industry’s 12.7% decline over the past year.