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Nevro's (NVRO) Latest Launch to Customize Chronic Pain Treatment
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Nevro Corp. (NVRO - Free Report) recently announced that it has now initiated the U.S. full market launch of its Senza HFX iQ spinal cord stimulation (SCS) system, following the completion of a successful limited market release. The system is currently the only SCS System that uses artificial intelligence (AI) to optimize and maintain pain relief using individual patient responses.
The Senza HFX iQ system is comprised of the HFX iQ Implantable Pulse Generator (IPG), HFX Trial Stimulator and HFX App. With a new bluetooth-enabled IPG that is upgradeable and connects directly to the HFX App, each patient can input assessments into their smartphone and then receive programming adjustments in real time.
Apart from the U.S. approval for Senza HFX iQ, Nevro has submitted for approval in Europe and Australia.
The latest launch is expected to strengthen Nevro’s foothold in the SCS therapy business.
Significance of the Launch
HFX iQ is expected to combine clinical inputs (such as pain relief and pain score) and Quality of Life inputs (such as pain medication and activity level changes) to provide a personalized program setting for each patient. The system will likely offer both low-frequency and Nevro’s own high-frequency 10 kHz Therapy.
The Senza high-frequency 10 kHz Therapy has been validated in both clinical and real-world outcomes and offers unique AI-driven iQ modes specifically for treating painful diabetic neuropathy (PDN) and chronic back and leg pain, including non-surgical back pain (NSBP).
Per an expert familiar with the use of SCS, the best way to proceed with SCS is with precision medicine, powered by big data and AI. Hence, by combining all the programming experience and clinical outcomes of patients across the United States and providing the same to the patient to monitor and offer them the best program for their exact situation with a tap on the screen holds the promise of improved care.
Per Nevro’s management, the Senza HFX iQ system is a significant advancement to SCS therapy as the system will likely apply the big data collected over time to help patients find pain relief faster and maintain that relief over time.
Industry Prospects
Per a report by Market Data Forecast, the global SCS market was estimated to be $2032.5 million in 2022 and is anticipated to reach $3070 million by 2027 at a CAGR of 8.6%. Factors like rising cases of chronic and neuropathic pain and the growing adoption of SCS therapy are likely to drive the market.
Given the market potential, the latest launch is expected to significantly boost Nevro’s business.
Notable Developments
Last month, Nevro announced its fourth-quarter 2022 results, where it saw an improvement in overall top-line and bottom-line results and robust domestic revenues. An uptick in total U.S. permanent implant procedures and U.S. trial procedures were also recorded.
The improvement in U.S. PDN trial was also registered. The robust performance of Nevro’s new AI-powered HFX iQ SCS System in the limited market release, with positive feedback from physicians and patients, raised optimism about the stock.
In December 2022, Nevro announced that two abstracts for PDN and NSBP were accepted for podium presentations at the North American Neuromodulation Society Annual Meeting and would be presented during the late-breaking plenary sessions in January.
Price Performance
Shares of the company have lost 53.9% in the past year compared with the industry’s 11.9% decline and the S&P 500's 7.9% fall.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Nevro carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , McKesson Corporation (MCK - Free Report) and Avanos Medical, Inc. (AVNS - Free Report) .
Hologic, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 15.2%. HOLX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 30.6%.
Hologic has gained 11.4% against the industry’s 11.9% decline in the past year.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.4%. MCK’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 3.4%.
McKesson has gained 20.8% against the industry’s 5.8% decline over the past year.
Avanos, carrying a Zacks Rank #2 at present, has an estimated growth rate of 1.8% for 2023. AVNS’ earnings surpassed estimates in all the trailing four quarters, the average beat being 11%.
Avanos has lost 13.3% compared with the industry’s 11.9% decline over the past year.
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Nevro's (NVRO) Latest Launch to Customize Chronic Pain Treatment
Nevro Corp. (NVRO - Free Report) recently announced that it has now initiated the U.S. full market launch of its Senza HFX iQ spinal cord stimulation (SCS) system, following the completion of a successful limited market release. The system is currently the only SCS System that uses artificial intelligence (AI) to optimize and maintain pain relief using individual patient responses.
The Senza HFX iQ system is comprised of the HFX iQ Implantable Pulse Generator (IPG), HFX Trial Stimulator and HFX App. With a new bluetooth-enabled IPG that is upgradeable and connects directly to the HFX App, each patient can input assessments into their smartphone and then receive programming adjustments in real time.
Apart from the U.S. approval for Senza HFX iQ, Nevro has submitted for approval in Europe and Australia.
The latest launch is expected to strengthen Nevro’s foothold in the SCS therapy business.
Significance of the Launch
HFX iQ is expected to combine clinical inputs (such as pain relief and pain score) and Quality of Life inputs (such as pain medication and activity level changes) to provide a personalized program setting for each patient. The system will likely offer both low-frequency and Nevro’s own high-frequency 10 kHz Therapy.
The Senza high-frequency 10 kHz Therapy has been validated in both clinical and real-world outcomes and offers unique AI-driven iQ modes specifically for treating painful diabetic neuropathy (PDN) and chronic back and leg pain, including non-surgical back pain (NSBP).
Per an expert familiar with the use of SCS, the best way to proceed with SCS is with precision medicine, powered by big data and AI. Hence, by combining all the programming experience and clinical outcomes of patients across the United States and providing the same to the patient to monitor and offer them the best program for their exact situation with a tap on the screen holds the promise of improved care.
Per Nevro’s management, the Senza HFX iQ system is a significant advancement to SCS therapy as the system will likely apply the big data collected over time to help patients find pain relief faster and maintain that relief over time.
Industry Prospects
Per a report by Market Data Forecast, the global SCS market was estimated to be $2032.5 million in 2022 and is anticipated to reach $3070 million by 2027 at a CAGR of 8.6%. Factors like rising cases of chronic and neuropathic pain and the growing adoption of SCS therapy are likely to drive the market.
Given the market potential, the latest launch is expected to significantly boost Nevro’s business.
Notable Developments
Last month, Nevro announced its fourth-quarter 2022 results, where it saw an improvement in overall top-line and bottom-line results and robust domestic revenues. An uptick in total U.S. permanent implant procedures and U.S. trial procedures were also recorded.
The improvement in U.S. PDN trial was also registered. The robust performance of Nevro’s new AI-powered HFX iQ SCS System in the limited market release, with positive feedback from physicians and patients, raised optimism about the stock.
In December 2022, Nevro announced that two abstracts for PDN and NSBP were accepted for podium presentations at the North American Neuromodulation Society Annual Meeting and would be presented during the late-breaking plenary sessions in January.
Price Performance
Shares of the company have lost 53.9% in the past year compared with the industry’s 11.9% decline and the S&P 500's 7.9% fall.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Nevro carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Hologic, Inc. (HOLX - Free Report) , McKesson Corporation (MCK - Free Report) and Avanos Medical, Inc. (AVNS - Free Report) .
Hologic, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 15.2%. HOLX’s earnings surpassed the Zacks Consensus Estimate in all the trailing four quarters, the average beat being 30.6%.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Hologic has gained 11.4% against the industry’s 11.9% decline in the past year.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.4%. MCK’s earnings surpassed estimates in two of the trailing four quarters and missed the same in the other two, the average beat being 3.4%.
McKesson has gained 20.8% against the industry’s 5.8% decline over the past year.
Avanos, carrying a Zacks Rank #2 at present, has an estimated growth rate of 1.8% for 2023. AVNS’ earnings surpassed estimates in all the trailing four quarters, the average beat being 11%.
Avanos has lost 13.3% compared with the industry’s 11.9% decline over the past year.