Varian Medical Systems, Inc. (VAR - Free Report) recently announced that it will exhibit its new ProBeam 360° proton therapy system from Jun 12 to Jun 15 in Manchester, the U.K. at the 58th Particle Therapy Co-Operative Group (PTCOG) Conference.This will be a major stride by the company to expand its reach within the cancer care market.
At PTCOG58, Varian will showcase its fully-integrated proton solution. The suite includes the Eclipse PT Treatment Planning, RapidPlan PT Knowledge-based Planning, Velocity, 360 Oncology Care Management and Noona. These medical innovations are expected to revolutionize the quality of cancer care offered by the company. For instance,Velocity, incorporated with Eclipse PT, combines treatment and imaging data to show elaborate view of a patient's diagnostic imaging and treatment history. This enables physicians to track and adapt changes during the course of treatment.
About The ProBeam 360° Proton Therapy System
The ProBeam 360° system, designed for next-generation proton therapy, offers top-notch clinical facilities, a 360-degree gantry and RapidScan technology. The system simplifies the process of motion management by delivering each field in a single breath-hold.
Of late, Varian has been investing in several developments to strengthen the proton therapy portfolio.
In May, Varian announced the completion of the cyclotron installation for the Varian ProBeam Compact single-room proton therapy system at Biopolis — an international biomedical research hub in Singapore. The cyclotron is a core piece of equipment in the ProBeam proton therapy system. This installation, in partnership with Proton Therapy Pte., Ltd, marks a major breakthrough for the first proton therapy center in Singapore, ASEAN, Australia and New Zealand.
Recently, Varian was selected to equip two proton therapy centers in Norway with the ProBeam multi-room system. The systems will be installed at leading institutions Radiumhospitalet, part of Oslo University Hospital and Haukeland University Hospital Bergen.Moreover, Varian announced that it has entered into a strategic collaboration agreement with Shandong Cancer Hospital in China for proton therapy clinical application and research.
Per Transparency Market Research, the global proton therapy market was valued at $364.8 million in 2017 and is projected to witness a CAGR of 8.0% from 2018 to 2026.The report suggests that increase in number of cancer patients for proton therapy treatment and rising demand for heavy ion radiotherapy due to biological advantage are expected to drive the proton therapy market in the near future. Hence exhibition of this fully integrated proton solution is well-timed.
In the past year, the company’s shares have outperformed the industry. The stock has improved 6.5% compared with the industry’s 4.5% decline.
Zacks Rank and Key Picks
Varian currently carries a Zacks Rank #3 (Hold)
Some better-ranked stocks in the broader medical space are Cerner Corporation (CERN - Free Report) , Penumbra (PEN - Free Report) and Bruker Corporation (BRKR - Free Report) . While Cerner sports a Zacks Rank #1 (Strong Buy), Penumbra and Bruker carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
Cerner’s long-term earnings growth rate is expected to be 13.5%.
Penumbra’s long-term earnings growth rate is projected at 21.5%.
Bruker’s long-term earnings growth rate is estimated at 11.7%.
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