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Stryker (SYK) Launches Q Guidance System for Cranial Surgeries
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Stryker (SYK - Free Report) announced the commercial launch of its Q Guidance system with Cranial Guidance software in the United States. The new navigation system will provide image-based planning and intraoperative guidance. It will assist surgeons in positioning instruments and identifying patient anatomy during cranial surgery.
The software will be useful for different types of surgeries, including craniotomies, skull base and transsphenoidal procedures, shunt placements and biopsies.
Price Performance
Stryker’s shares have risen 21.2% year to date compared with the industry’s growth of 3.5%. The S&P 500 Index has gained 15.7% in the same time frame.
Image Source: Zacks Investment Research
New Software Features
Stryker believes that the Q Guidance system with Cranial Guidance software has the potential to become the standard of care, and a possible means for increasing accuracy and efficiency in the operating room.
The system includes a touchscreen monitor to control inside or outside the sterile field, leading to high-performance 2D-3D visualization. It is likely to provide neurosurgeons with more surgical planning and guidance capabilities than ever before, with a special focus on biopsies and shunt placements.
A smooth user interface and workflow, coupled with intuitive new views like 3D targeting and the new skull stripping feature, will be helpful during surgeries.
The Q Guidance system with Cranial Guidance software features a proprietary camera, the FP8000, which offers faster speed than other cameras in the market. It also has a dual PC system that allows one PC to run the applications and the other to provide real-time patient data.
The system uses Diffusion Tensor Imaging and tractography to estimate and visualize the brain's axonal organization in 3D. Additionally, it has a Precision Targeting System that enables navigated biopsy of cranial tissue by using comprehensive guidance data and imaging to preplan an approach for entry point. Furthermore, it enables electromagnetic catheter placement for pinless shunt procedures.
In May, Stryker successfully completed the first surgical case using the Q Guidance system with Cranial Guidance software, per an update from its Early Product Surveillance for the new system prior to this commercial launch.
Industry Prospects
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.
Recent Development
Earlier this month, Stryker launched its fully autonomous guidance system, Ortho Q Guidance, designed specifically for its orthopedic customers. The Ortho Guidance software works with Ortho Q to offer a smart and streamlined workflow for Express Knee, Precision Knee and Versatile Hip procedures, increasing speed and efficiency in the operating room.
Alcon has an estimated long-term growth rate of 14.9%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 8.85%.
ALC’s shares have rallied 17.7% year to date compared with the industry’s 5.9% growth.
DexCom has an estimated long-term growth rate of 40.4%. Its earnings surpassed estimates in three of the trailing four quarters and met the same once, delivering an average surprise of 15.19%.
DXCM’s shares have risen 11.9% year to date compared with the industry’s 5.9% growth.
Hologic has an estimated earnings growth rate of 4.1% for fiscal 2024. HOLX’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 27.32%.
HOLX’s shares have risen 3.6% year to date compared with the industry’s 5.9% growth.
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Stryker (SYK) Launches Q Guidance System for Cranial Surgeries
Stryker (SYK - Free Report) announced the commercial launch of its Q Guidance system with Cranial Guidance software in the United States. The new navigation system will provide image-based planning and intraoperative guidance. It will assist surgeons in positioning instruments and identifying patient anatomy during cranial surgery.
The software will be useful for different types of surgeries, including craniotomies, skull base and transsphenoidal procedures, shunt placements and biopsies.
Price Performance
Stryker’s shares have risen 21.2% year to date compared with the industry’s growth of 3.5%. The S&P 500 Index has gained 15.7% in the same time frame.
Image Source: Zacks Investment Research
New Software Features
Stryker believes that the Q Guidance system with Cranial Guidance software has the potential to become the standard of care, and a possible means for increasing accuracy and efficiency in the operating room.
The system includes a touchscreen monitor to control inside or outside the sterile field, leading to high-performance 2D-3D visualization. It is likely to provide neurosurgeons with more surgical planning and guidance capabilities than ever before, with a special focus on biopsies and shunt placements.
A smooth user interface and workflow, coupled with intuitive new views like 3D targeting and the new skull stripping feature, will be helpful during surgeries.
The Q Guidance system with Cranial Guidance software features a proprietary camera, the FP8000, which offers faster speed than other cameras in the market. It also has a dual PC system that allows one PC to run the applications and the other to provide real-time patient data.
The system uses Diffusion Tensor Imaging and tractography to estimate and visualize the brain's axonal organization in 3D. Additionally, it has a Precision Targeting System that enables navigated biopsy of cranial tissue by using comprehensive guidance data and imaging to preplan an approach for entry point. Furthermore, it enables electromagnetic catheter placement for pinless shunt procedures.
In May, Stryker successfully completed the first surgical case using the Q Guidance system with Cranial Guidance software, per an update from its Early Product Surveillance for the new system prior to this commercial launch.
Industry Prospects
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.
Recent Development
Earlier this month, Stryker launched its fully autonomous guidance system, Ortho Q Guidance, designed specifically for its orthopedic customers. The Ortho Guidance software works with Ortho Q to offer a smart and streamlined workflow for Express Knee, Precision Knee and Versatile Hip procedures, increasing speed and efficiency in the operating room.
Stryker Corporation Price
Stryker Corporation price | Stryker Corporation Quote
Zacks Rank & Other Stocks to Consider
Stryker currently carries a Zacks Rank #2 (Buy).
A few other top-ranked stocks from the broader medical space are Alcon (ALC - Free Report) , DexCom (DXCM - Free Report) and Hologic (HOLX - Free Report) , each carrying a Zacks Rank #2 at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Alcon has an estimated long-term growth rate of 14.9%. Its earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 8.85%.
ALC’s shares have rallied 17.7% year to date compared with the industry’s 5.9% growth.
DexCom has an estimated long-term growth rate of 40.4%. Its earnings surpassed estimates in three of the trailing four quarters and met the same once, delivering an average surprise of 15.19%.
DXCM’s shares have risen 11.9% year to date compared with the industry’s 5.9% growth.
Hologic has an estimated earnings growth rate of 4.1% for fiscal 2024. HOLX’s earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 27.32%.
HOLX’s shares have risen 3.6% year to date compared with the industry’s 5.9% growth.