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Abbott (ABT) Broadens Electrophysiology Footprint With TactiFlex
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Abbott (ABT - Free Report) has taken a significant step in the field of electrophysiology with the introduction of its TactiFlex Ablation Catheter, Sensor Enabled. This device is designed to treat atrial fibrillation (AFib), a common and potentially life-threatening irregular heart rhythm that affects millions worldwide.
The recent successful deployment of TactiFlex Ablation Catheter, Sensor Enabled in Canada broadens Abbott's global footprint in the electrophysiology space.
Abbott's commitment to improving the lives of AFib patients extends beyond Canada. With approvals in multiple regions, including the United States, Europe, Japan, Africa, and Australia, the TactiFlex SE catheter is poised to make a global impact, offering hope to millions living with AFib.
AFib at a Glance
The global prevalence of AFib is soaring, with over 37 million individuals currently affected. This number is projected to double by 2050. Further, AFib affects a substantial portion of the Canadian population, with potentially severe complications, including stroke and heart failure.
In the face of rising demand to treat AFib, Abbott's TactiFlex SE catheter launch offers numerous advantages over conventional treatments.
One of the key advantages of the TactiFlex SE catheter is its flexible tip and contact force technology, enabling physicians to achieve greater accuracy and precision during ablation procedures. By flexing when in contact with the heart wall, the catheter directs fluid to the treated tissue, enhancing stability and ensuring consistent therapy delivery. This not only reduces procedure times by 25% but also minimizes the risks associated with AFib treatments.
Abbott has strategically paired the TactiFlex SE catheter with its EnSite X EP System, an industry-leading heart mapping system. This combination allows physicians to accurately detect areas in the heart that need ablation. The TactiFlex catheter's laser-cut pattern tip design, combined with the EnSite X EP System, offers a comprehensive solution for AFib patients, promising safe and effective results.
Favorable Clinical Outcome
The TactiFlex SE catheter has generated strong clinical outcomes in the TactiFlex AF IDE study, achieving over 99% acute procedural success. The study showed the catheter created fast and safe lesions to treat AFib with more than 99% acute procedural success.
Market Prospects
Going by a Grand View Research report, the global electrophysiology devices market is poised for robust growth, with a projected CAGR of 11.16% from 2023 to 2030. Key drivers include the increasing use of electrophysiology tests for heart disease diagnosis and treatment, rising demand for cardiac rhythm management devices for continuous monitoring and expanding applications in out-of-hospital settings.
Furthermore, the growing prevalence of heart-related issues, such as atrial fibrillation, cardiac arrest and heart failure, particularly among millennials due to unhealthy lifestyles, underscores the market's rising potential. According to the Centers for Disease Control and Prevention, an estimated 12.1 million Americans will have atrial fibrillation by 2030, further boosting the prospects of the electrophysiology devices market globally.
Haemonetics’ stock has risen 19.7% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 for 2023 and from $3.96 to $4.07 for 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 186% in the past year against the industry’s decline of 22.5%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s 2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 23.3% in the past year compared with the industry’s rise of 2.3%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.
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Abbott (ABT) Broadens Electrophysiology Footprint With TactiFlex
Abbott (ABT - Free Report) has taken a significant step in the field of electrophysiology with the introduction of its TactiFlex Ablation Catheter, Sensor Enabled. This device is designed to treat atrial fibrillation (AFib), a common and potentially life-threatening irregular heart rhythm that affects millions worldwide.
The recent successful deployment of TactiFlex Ablation Catheter, Sensor Enabled in Canada broadens Abbott's global footprint in the electrophysiology space.
Abbott's commitment to improving the lives of AFib patients extends beyond Canada. With approvals in multiple regions, including the United States, Europe, Japan, Africa, and Australia, the TactiFlex SE catheter is poised to make a global impact, offering hope to millions living with AFib.
AFib at a Glance
The global prevalence of AFib is soaring, with over 37 million individuals currently affected. This number is projected to double by 2050. Further, AFib affects a substantial portion of the Canadian population, with potentially severe complications, including stroke and heart failure.
In the face of rising demand to treat AFib, Abbott's TactiFlex SE catheter launch offers numerous advantages over conventional treatments.
Abbott Laboratories Price
Abbott Laboratories price | Abbott Laboratories Quote
A Few Words on TactiFlex SE
One of the key advantages of the TactiFlex SE catheter is its flexible tip and contact force technology, enabling physicians to achieve greater accuracy and precision during ablation procedures. By flexing when in contact with the heart wall, the catheter directs fluid to the treated tissue, enhancing stability and ensuring consistent therapy delivery. This not only reduces procedure times by 25% but also minimizes the risks associated with AFib treatments.
Abbott has strategically paired the TactiFlex SE catheter with its EnSite X EP System, an industry-leading heart mapping system. This combination allows physicians to accurately detect areas in the heart that need ablation. The TactiFlex catheter's laser-cut pattern tip design, combined with the EnSite X EP System, offers a comprehensive solution for AFib patients, promising safe and effective results.
Favorable Clinical Outcome
The TactiFlex SE catheter has generated strong clinical outcomes in the TactiFlex AF IDE study, achieving over 99% acute procedural success. The study showed the catheter created fast and safe lesions to treat AFib with more than 99% acute procedural success.
Market Prospects
Going by a Grand View Research report, the global electrophysiology devices market is poised for robust growth, with a projected CAGR of 11.16% from 2023 to 2030. Key drivers include the increasing use of electrophysiology tests for heart disease diagnosis and treatment, rising demand for cardiac rhythm management devices for continuous monitoring and expanding applications in out-of-hospital settings.
Furthermore, the growing prevalence of heart-related issues, such as atrial fibrillation, cardiac arrest and heart failure, particularly among millennials due to unhealthy lifestyles, underscores the market's rising potential. According to the Centers for Disease Control and Prevention, an estimated 12.1 million Americans will have atrial fibrillation by 2030, further boosting the prospects of the electrophysiology devices market globally.
Zacks Rank and Other Key Picks
Abbott currently carries a Zacks Rank #2 (Buy).
Some top-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Quanterix (QTRX - Free Report) and SiBone (SIBN - Free Report) , each carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics’ stock has risen 19.7% in the past year. Earnings estimates for Haemonetics have increased from $3.56 to $3.74 for 2023 and from $3.96 to $4.07 for 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have narrowed from $1.19 to 97 cents in the past 30 days. Shares of the company have increased 186% in the past year against the industry’s decline of 22.5%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for SiBone’s 2023 loss have narrowed from $1.42 to $1.27 per share in the past 30 days. Shares of the company have increased 23.3% in the past year compared with the industry’s rise of 2.3%.
SIBN’s earnings beat estimates in all the trailing four quarters, the average surprise being 20.37%. In the last reported quarter, SiBone delivered an earnings surprise of 26.83%.