Specialist manufacturer of gastrointestinal products, Given Imaging Ltd. confirmed the success of its PillCam ESO to support triage patients with upper gastrointestinal bleeding (UGIB). It also revealed details pertaining to Bravo Systems, indicating that it can increase patient pH monitoring up to four days for those who suffer from gastroesophageal reflux disease (GERD). The announcements are supported by clinical trials and data from reputed universities across the globe.
According to Given Imaging’s Chief Medical Officer, the new studies reassert the efficiency of Bravo pH monitoring and PillCam ESO in diagnosing, monitoring and triaging different kinds of esophageal ailments. The prolonged monitoring of Bravo Systems will provide meaningful feedback about patients’ condition and their daily lives. This will enable doctors to adjust the diet and drug regimens of their patients accordingly. On the other hand, PillCam ESO can detect malignant lesions in the upper gastrointestinal tract. These lesions can result in fatal blood loss if they remain undetected. PillCam ESO holds an advantage over gastroscopy as it can identify lesions undetected by gastroscopy.
Given Imaging enjoys worldwide market share of 85% and domestic market share of 95%. Even though the company reported first quarter revenue of $41.8 million (a 5% increase from the prior year quarter), it has the scope to cater to a multi-billion dollar market. The company also produces PillCam SB, a capsule endoscope for the imaging of the small intestine. Its PillCam SB has the highest potential as 85% of the domestic market remains un-penetrated and the international market grows at 18%-20%. However, with an aging population and increasing prevalence of heartburn and other acid reflux symptoms, PillCam ESO is expected to gain a strong foothold and leverage sales in the world market.
The company’s Bravo Systems is a benchmark in the field of pH monitoring. Bravo Systems earlier collected 48 hours of pH data for heartburn symptoms. The increased 96-hour monitoring time will allow clinicians to treat patients effectively.
The complementary product portfolio of Given Imaging is accretive to top and bottom-line growth. With supportive statistics and impending commercialization of the PillCam COLON, the company is expected to meet its outlook of stable double-digit growth in the current year. Its competitors providing medical imaging solutions include Olympus Corporations (OCPNY - Snapshot Report) , GE Healthcare- a division of General Electric (GE - Analyst Report) and the privately-owned FUJIFILM Holdings Corporation.
Given Imaging currently retains a Zacks #1 Rank, which translates into a short-term ‘Strong Buy’ rating.