Merit Medical Systems, Inc. (MMSI Quick QuoteMMSI - Free Report) announced the expansion of its Maestro Microcatheter product line, the new 165-cm Maestro length. Following the expansion, the product line now includes a new longer length for radial embolization procedures.

Merit Medical’s radial access portfolio also includes the recently launched PreludeSYNC EZ Radial Compression Device, PreludeSYNC Distal Radial Compression Device and Prelude IDeal Hydrophilic Sheath Introducer.

The latest launch is expected to boost Merit Medical’s embolotherapy portfolio within the Vascular – Peripheral product line of the broader Peripheral Intervention business on a global basis. The Peripheral Intervention business is a component of the Cardiovascular segment.

Significance of the Launch

Radial artery access is a minimally invasive approach to diagnosing and treating a wide range of medical conditions. The benefits of radial access include fewer bleeding complications, improved patient comfort and reduced procedure costs, unlike femoral access procedures or those performed via the femoral artery in the groin.

The availability of the new 165-cm Maestro length in a variety of catheter diameters is expected to support a wider range of embolization procedures.

Per management, the expansion of Merit Medical’s Maestro Microcatheter product line represents ongoing innovation and the reinvention of existing products. This will likely aid the company in enhancing the alignment of its portfolios with better patient outcomes worldwide.

Industry Prospects

Per a report by MarketsandMarkets, the global embolotherapy market was valued at $3.4 billion in 2021 and is anticipated to reach $5 billion by 2026 at a CAGR of 8%. Factors like the increasing incidences of peripheral vascular diseases and the growing preference for minimally invasive procedures are likely to drive the market.

Given the market potential, the latest launch is expected to provide a significant boost to Merit Medical’s business in the niche space.

Notable Developments

Last month, Merit Medical announced the U.S. commercial release of its Aspira Bottle, the latest addition to its drainage portfolio.

In July, Merit Medical announced its second-quarter 2023 results, where it saw a year-over-year uptick in its top and bottom lines. The company also registered revenue growth in both its segments and across all the product categories within its Cardiovascular unit. Robust performances in the United States and outside were also recorded.

Price Performance

Merit Medical stock has gained 15.2% over the past year compared with the industry’s 21.7% rise and the S&P 500's 19.8% growth.

Image Source: Zacks Investment Research

Zacks Rank & Key Picks

Currently, Merit Medical carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader medical space are Pacific Biosciences of California, Inc. (PACB Quick QuotePACB - Free Report) , popularly known as PacBio, McKesson Corporation (MCK Quick QuoteMCK - Free Report) and Integer Holdings Corporation (ITGR Quick QuoteITGR - Free Report) .

PacBio, carrying a Zacks Rank #2 (Buy) at present, has an estimated growth rate of 14.5% for 2023. PACB’s earnings surpassed estimates in three of the trailing four quarters and broke even once, with an average surprise of 9.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

PacBio has gained 38.1% against the industry’s 1.5% decline over the past year.

McKesson, sporting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, with an average of 8.1%.

McKesson has gained 28.8% compared with the industry’s 21.7% rise over the past year.

Integer Holdings, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 12.1%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 8.4%.

Integer Holdings has gained 41.4% against the industry’s 1.5% decline over the past year.