Stryker Corporation (SYK Quick QuoteSYK - Free Report) recently announced that the first shoulder arthroplasty surgery using Blueprint Mixed Reality (MR) Guidance has been completed in Europe.

First shoulder arthroplasty surgery has been completed in Europe by Professor Julien Berhouet, MD, PhD, CHRU Tours Hospital, France, and Dr. Lionel Neyton, MD, orthopedic shoulder surgeon at Centre Orthopédique Santy and Hôpital Privé Jean Mermoz in Lyon, France.

Price Performance

For the past six months, SYK’s shares have rallied 22.0% compared with the industry’s rise of 9.0%. The S&P 500 increased 14.2% in the same time frame.

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More on Blueprint Mixed Reality Guidance System

Stryker completed the first case in Europe utilizing the MR Guidance System, marking a significant milestone in advancing surgical technology globally.

The Blueprint MR Guidance System, developed by a team of world-class surgeons, allows the surgeon to track the position and orientation of surgical tools in real time using the Microsoft HoloLensTM 2 headset and state-of-the-art software from Stryker.

Blueprint MR Guidance guides surgeons and their instruments without disrupting normal workflow using 3D images and guidance widgets that are displayed on the patient and in the surgeon's line of sight.

More than 50 surgeons used the previous version of Stryker's Blueprint Mixed Reality, known as Blueprint Mixed Reality OR Visualization, in more than 3,500 shoulder replacement procedures worldwide. Stryker's Blueprint platform now includes Mixed Reality Guidance, which is intended to help the whole shoulder arthroplasty industry.

The surgeries worldwide were carried out in the United States and Canada in December 2023, and the MR Guidance system acquired the CE mark at the end of 2023.

Industry Prospects

Per a report by The Brainy Insights, the global shoulder arthroplasty market was valued at $1.52 billion in 2022 and is expected to reach $2.6 billion by 2030 at a growth rate of 7%.

However, the Asia-Pacific region is expected to grow the fastest during 2022-2030. Moreover, the rise of pharmacological approvals for treating primary osteoarthritis pain, along with the rising number of medication approvals from regulatory authorities, is expected to drive market growth during the forecast period.

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Zacks Rank & Other Stocks to Consider

SYK carries a Zacks Rank #2 (Buy) at present.

Some other top-ranked stocks in the broader medical space are DaVita Inc. (DVA Quick QuoteDVA - Free Report) , Cardinal Health, Inc. (CAH Quick QuoteCAH - Free Report) and Cencora, Inc. (COR Quick QuoteCOR - Free Report) .

DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.

DaVita’s shares have gained 58.3% compared with the industry’s 18.9% rise in the past year.

Cardinal Health, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.

Cardinal Health has gained 51.9% compared with the industry’s 3.2% rise in the past year.

Cencora, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.

Cencora’s shares have rallied 51.5% compared with the industry’s 3.6% rise in the past year.