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General Electric (GE) to Offer CT Motion Injector in U.S.
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General Electric’s (GE - Free Report) Healthcare unit is collaborating with Ulrich Medical to offer contrast media injectors in the United States under the brand name CT motion.
The CT motion is a multi-dose syringeless injector that delivers iodinated contrast media for Computed Tomography ("CT") imaging procedures. It reduces procedure setup time and improves patient throughput by removing extensive preparation steps while simultaneously optimizing patient dosing.
According to a statement released by General Electric, recent research shows that CT motion can enable six additional patient CT exams each day compared to a regular dual-syringe-based injector using single or multi-dose vials. The research also shows that the GE Healthcare branded injector reduces cost from consumables and saves 30ml of contrast per procedure, on average.
The statement released by GE reveals that the U.S. contrast media injector market is estimated to grow at 4.3% annually between 2022 and 2030. This should drive demand for the Healthcare unit’s latest offering.
General Electric expects global demand for iodinated contrast media to double in the next 10 years, owing to the prevalence of chronic disorders and growth in CT procedures. To meet this anticipated surge in demand, the company recently invested $80 million at its Active Pharmaceutical Ingredients site in Lindesnes, Norway, to increase contrast media manufacturing capacity by 30%.
In order to meet the growing demand for iodinated contrast media, GE has also invested $30 million to open an additional manufacturing line at its facility in Cork, Ireland. The company has also entered into a multi-year agreement with Sociedad Quimica y Minera de Chile to increase the iodine supply. Through these milestones, General Electric aims to reach its broader goal of producing 30 million more doses of contrast media per year by 2025.
Zacks Rank & Key Picks
General Electric currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks worth mentioning:
Applied Industrial has an estimated earnings growth rate of 14.3% for the current fiscal year. The stock has gained 25.9% in the past six months.
Parker-Hannifin Corporation (PH - Free Report) currently carries a Zacks Rank of 2 (Buy). PH pulled off a trailing four-quarter earnings surprise of 11.3%, on average.
Parker-Hannifin has an estimated earnings growth rate of 2.2% for the current fiscal year. Shares of PH have rallied 8.2% in the past six months.
IDEX Corporation (IEX - Free Report) carries a Zacks Rank #2. The company pulled off a trailing four-quarter earnings surprise of 5.7%, on average.
IDEX has an estimated earnings growth rate of 28.3% and 6.1% for the current year and the next year respectively. The stock has rallied 20.7% in the past six months.
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General Electric (GE) to Offer CT Motion Injector in U.S.
General Electric’s (GE - Free Report) Healthcare unit is collaborating with Ulrich Medical to offer contrast media injectors in the United States under the brand name CT motion.
The CT motion is a multi-dose syringeless injector that delivers iodinated contrast media for Computed Tomography ("CT") imaging procedures. It reduces procedure setup time and improves patient throughput by removing extensive preparation steps while simultaneously optimizing patient dosing.
According to a statement released by General Electric, recent research shows that CT motion can enable six additional patient CT exams each day compared to a regular dual-syringe-based injector using single or multi-dose vials. The research also shows that the GE Healthcare branded injector reduces cost from consumables and saves 30ml of contrast per procedure, on average.
General Electric Company Price
General Electric Company price | General Electric Company Quote
The statement released by GE reveals that the U.S. contrast media injector market is estimated to grow at 4.3% annually between 2022 and 2030. This should drive demand for the Healthcare unit’s latest offering.
General Electric expects global demand for iodinated contrast media to double in the next 10 years, owing to the prevalence of chronic disorders and growth in CT procedures. To meet this anticipated surge in demand, the company recently invested $80 million at its Active Pharmaceutical Ingredients site in Lindesnes, Norway, to increase contrast media manufacturing capacity by 30%.
In order to meet the growing demand for iodinated contrast media, GE has also invested $30 million to open an additional manufacturing line at its facility in Cork, Ireland. The company has also entered into a multi-year agreement with Sociedad Quimica y Minera de Chile to increase the iodine supply. Through these milestones, General Electric aims to reach its broader goal of producing 30 million more doses of contrast media per year by 2025.
Zacks Rank & Key Picks
General Electric currently carries a Zacks Rank #3 (Hold).
Here are some better-ranked stocks worth mentioning:
Applied Industrial Technologies, Inc. (AIT - Free Report) presently sports a Zacks Rank #1 (Strong Buy). AIT delivered a trailing four-quarter earnings surprise of 24.8%, on average. You can see the complete list of today’s Zacks #1 Rank stocks.
Applied Industrial has an estimated earnings growth rate of 14.3% for the current fiscal year. The stock has gained 25.9% in the past six months.
Parker-Hannifin Corporation (PH - Free Report) currently carries a Zacks Rank of 2 (Buy). PH pulled off a trailing four-quarter earnings surprise of 11.3%, on average.
Parker-Hannifin has an estimated earnings growth rate of 2.2% for the current fiscal year. Shares of PH have rallied 8.2% in the past six months.
IDEX Corporation (IEX - Free Report) carries a Zacks Rank #2. The company pulled off a trailing four-quarter earnings surprise of 5.7%, on average.
IDEX has an estimated earnings growth rate of 28.3% and 6.1% for the current year and the next year respectively. The stock has rallied 20.7% in the past six months.