Stryker Corporation ( SYK Quick Quote SYK - Free Report) announced an update from itsEarly Product Surveillance (EPS) cases using its Q Guidance system, along with Cranial Guidance software. The company completed the first surgical case successfully using this technology. This advanced technology aids surgeons in cranial surgeries by offering image-based planning and intraoperative guidance. This way, the system also helps in providing precise medical interventions. Significance of the New Technology
The use of Stryker's Q Guidance system, along with Cranial Guidance software, carries immense significance in the realm of neurosurgical navigation, as highlighted by the esteemed Dr. Melvin Field, medical director for the Minimally Invasive Brain Surgery program at AdventHealth.
As one of the pioneering surgeons to welcome this cutting-edge technology in his operating room, Field believes that the system has the potential to establish itself as the new gold standard for image-guided procedures in neurosurgery.
When it comes to cranial procedures, accuracy and perfection are of paramount importance. This is due to the potential outcomes that extend beyond physical health and can even alter a patient's appearance or personality.
This is exactly where the Q Guidance system with Cranial Guidance software excels. It offers advanced planning and guidance capabilities that augment surgeons’ confidence and competence.
With its image-based planning feature, the system enables surgeons to visualize the intricacies of the patient's cranial anatomy, facilitating meticulous pre-operative strategizing.
Additionally, the system's intraoperative guidance functionality provides real-time assistance during the surgery. This further enhances surgeons’ precision and ability to navigate complex cranial structures with confidence.
The Q Guidance system with Cranial Guidance software is expected to revolutionize the field of neurosurgery by establishing a new standard for image-guided navigation.
As more and more surgeons embrace this innovative technology, it is expected to pave the way for enhanced surgical precision, improved patient safety and greater overall success rates in cranial surgeries.
As the aforementioned system gears up for its full commercial launch, it will undergo utilization at five additional EPS sites. These esteemed institutions include the University of New Mexico, the University of Arkansas, the University of Michigan, Thomas Jefferson University and Lenox Hill Hospital. This expansion in adoption demonstrates the growing recognition of the system within the medical community.
Per a report by
Expert Market Research, the cranial implant market was valued at $1.14 billion in 2022. It is anticipated to reach $2.09 billion by 2031 at a CAGR of 7%. Factors like increased geriatric population and a growing number of trauma instances are expected to contribute to this improvement. An increase in research and development activities is also aiding the aforementioned market’s growth.
Given the market potential, the availability and adoption of the advanced cranial surgical technology is likely to bolster Stryker’s business globally.
Zacks Rank & Stocks to Consider
Stryker currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks from the broader medical space are
Merit Medical Systems ( MMSI Quick Quote MMSI - Free Report) , West Pharmaceutical Services ( WST Quick Quote WST - Free Report) and Perrigo ( PRGO Quick Quote PRGO - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Merit Medical Systems has an estimated long-term growth rate of 11%. The company’s earnings surpassed estimates in each of the trailing four quarters, the average surprise being 20.22%.
So far this year, MMSI’s shares have risen 18.9% compared with the industry’s 8.7% growth.
West Pharmaceutical Services has an estimated long-term growth rate of 6.3%. Its earnings surpassed estimates in three of the trailing four quarters and missed the same once, the average surprise being 13.61%.
So far this year, WST’s shares have gained 41.9% compared with the industry’s 8.7% growth.
Perrigo’s earnings are expected to improve 24.6% in 2023. The strong momentum is likely to continue in 2024 as well. PRGO’s earnings surpassed estimates in two of the trailing four quarters and missed the same twice, the average negative surprise being 0.79%.
The company has lost 11.5% so far this year against the
industry’s 4.8% growth.