Following the CE Mark approval earlier this month, Integra LifeSciences Holdings Corporation (IART - Free Report) recently announced the launch of meshed acellular dermal tissue matrix (ADM) — SurgiMend PRS Meshed — for both pre- and sub-pectoral breast reconstruction in Europe.
The SurgiMend PRS Meshed solution allows patients to opt for just one single-stage implant breast reconstruction post-mastectomy, instead of multiple-stage surgery. This launch is expected to widen the company’s portfolio of acellular dermal tissue matrix for plastic and reconstructive surgery, including breast reconstruction.
Along with this announcement, the global medical technology company announced that this collagen matrix SurgiMend PRS Meshed featuring a 2: 1 meshing pattern, will be available in a 20 centimeters (cms) X 10 cms configuration that expands to roughly 18 cms X 22 cms when hydrated and fully expanded.
Interestingly, the ADM product line falls under the company’s Orthopedics and Tissue Technologies segment which contributed 43.3% of the company’s total revenues in the last reported quarter. The latest launch is expected to further boost the top-line contribution from this segment.
In May, the company launched SurgiMend MP — a collagen matrix for complex abdominal hernia repair — featuring a highly macroporous design that enables fluid drainage. Also, the company announced the European launch of Dermal Regeneration Template Single Layer "Thin" for dermal repair defects reconstruction in "one-step" procedure in the same month.
Integra LifeSciences’ efforts to grow in the plastic and reconstructive surgery market seem to be strategic as per Technavio data published in Business Wire. Per the report, the global plastic surgery products market is expected to reach a value of around $15 billion, at a CAGR of 9% between 2016 and 2020.
Growing consciousness about appearance among women, increasing awareness and rising expenditure in healthcare and technological advancements are likely to drive demand for cosmetic surgeries over time. This fact is further substantiated by data provided by Global Market Insights, which projects that the global breast implants market is set to reach a worth of roughly $ 1,482.1 million at a CAGR of 4.1% in the 2016-2024 period.
We believe the latest launch will help Integra LifeSciences cash in on the bountiful opportunities in this niche market.
Share Price Performance
In the last six months, Integra LifeSciences has been consistently trading above the broader industry. To date, the stock has gained 21.9%, higher than the 13.5% gain of the broader industry.
Zacks Rank & Other Key Picks
Integra LifeSciences currently carries a Zacks Rank #2 (Buy). Other top-ranked stocks in the medical sector are Orthofix International N.V. (OFIX - Free Report) , Luminex Corporation (LMNX - Free Report) and IDEXX Laboratories, Inc. (IDXX - Free Report) . Orthofix International and Luminex Corporation sport a Zacks Rank #1 (Strong Buy), while IDEXX Laboratories carries a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Orthofix International has a long-term expected earnings growth rate of 11.8%. The stock has rallied roughly 32.3% over the last six months.
Luminex has a long-term expected earnings growth rate of 16.3%. The stock has gained 15.7% over the last six months.
IDEXX Laboratories has a long-term expected earnings growth rate of 19.8%. The stock has gained 36.7% last year.
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