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OrthoPediatrics (KIDS) Unveils GIRO for Pediatric Orthopedics
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OrthoPediatrics Corp. (KIDS - Free Report) , a prominent name in pediatric orthopedics, has made a significant breakthrough with the limited launch of the GIRO Growth Modulation System. This was followed by the successful completion of the first clinical case using this cutting-edge technology.
This latest development is poised to transform the field of pediatric orthopedics and advance patient care. This development also broadens the company’s offering within the Trauma and Deformity Correction business.
Enhancing Pediatric Treatment Options
The GIRO Growth Modulation System by OrthoPediatrics introduces a tether device designed specifically for pediatric patients, aimed at correcting angular deformities of long bones and limb length discrepancies. With its two available configurations, GIRO Screw and GIRO Post, the system provides versatile treatment options for various deformities in the femur and tibia, humerus, radius and ulna, and ankle and limb length discrepancies.
Significance of the Launch
The GIRO Growth Modulation system is not only a significant milestone for OrthoPediatrics but also a remarkable achievement for the entire industry. Though this is the first new Pega Medical system to receive FDA clearance, it is the 50th system introduced by OrthoPediatrics, solidifying its position in pediatric orthopedics.
The completion of the first clinical case using the GIRO Growth Modulation System has already showcased its effectiveness in treating bilateral femoral anteversion without the need for additional osteotomy. This less-invasive procedure not only reduces recovery time but also minimizes the risk of complications. The system's low-profile implants enhance its versatility, making it an attractive option for addressing angular deformities and limb length discrepancies in pediatric patients.
Image Source: Zacks Investment Research
Joe Hauser, president of Trauma and Deformity Correction at OrthoPediatrics noted that by leveraging the expertise of OrthoPediatrics Canada, this system provides pediatric orthopedic surgeons a new and advanced treatment option, promising better outcomes for their young patients.
Market Prospects
Going by a Verified Market Research report, the pediatric orthopedic implants market is set to experience substantial growth in the coming years. It is expected to touch $2.12 billion by 2030, at a CAGR of 6.21%, driven by various factors.
The increasing number of children with malnutrition and bone deformities contributes to the market's expansion. The use of implants in hospitals and clinics to treat conditions like trauma, sports injuries, and deformities, enabled by technological advancements, is another driver. Patient education about orthopedic disorders further fuels market growth.
However, the requirement for skilled professionals to perform surgeries and the potential negative impact of surgical failures may limit market growth. Nonetheless, this market presents promising prospects.
Share Price Performance
Over the past year, shares of OrthoPediatrics have declined 2.3% against the industry’s rise of 12.4%.
Zacks Rank and Key Picks
OrthoPediatrics currently carries a Zacks Rank #3 (Hold).
Penumbra’s stock has surged 164.5% in the past year. The Zacks Consensus Estimate for Penumbra’s earnings per share (EPS) has remained constant at $1.56 for 2023 and $2.56 for 2024 in the past 30 days.
PEN’s earnings beat the consensus mark in each of the trailing four quarters, the average surprise being 109.42%. In the last reported quarter, the company registered an earnings surprise of 109.09%.
The Zacks Consensus Estimate for Lantheus’ 2023 EPS has remained constant at $5.60 in the past 30 days. Shares of the company have rallied 28% in the past year against the industry’s 20.8% decline.
LNTH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.77%. In the last reported quarter, the company recorded an earnings surprise of 13.95%.
Estimates for Haemonetics’ EPS for 2023 have increased from $3.55 to $3.56 in the past 30 days. Shares of the company have surged 28.9% in the past year against the industry’s 20.8% decline.
HAE’s earnings beat estimates in all of the trailing four quarters, the average surprise being 12.21%. In the last reported quarter, Haemonetics delivered an earnings surprise of 13.2%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.
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OrthoPediatrics (KIDS) Unveils GIRO for Pediatric Orthopedics
OrthoPediatrics Corp. (KIDS - Free Report) , a prominent name in pediatric orthopedics, has made a significant breakthrough with the limited launch of the GIRO Growth Modulation System. This was followed by the successful completion of the first clinical case using this cutting-edge technology.
This latest development is poised to transform the field of pediatric orthopedics and advance patient care. This development also broadens the company’s offering within the Trauma and Deformity Correction business.
Enhancing Pediatric Treatment Options
The GIRO Growth Modulation System by OrthoPediatrics introduces a tether device designed specifically for pediatric patients, aimed at correcting angular deformities of long bones and limb length discrepancies. With its two available configurations, GIRO Screw and GIRO Post, the system provides versatile treatment options for various deformities in the femur and tibia, humerus, radius and ulna, and ankle and limb length discrepancies.
Significance of the Launch
The GIRO Growth Modulation system is not only a significant milestone for OrthoPediatrics but also a remarkable achievement for the entire industry. Though this is the first new Pega Medical system to receive FDA clearance, it is the 50th system introduced by OrthoPediatrics, solidifying its position in pediatric orthopedics.
The completion of the first clinical case using the GIRO Growth Modulation System has already showcased its effectiveness in treating bilateral femoral anteversion without the need for additional osteotomy. This less-invasive procedure not only reduces recovery time but also minimizes the risk of complications. The system's low-profile implants enhance its versatility, making it an attractive option for addressing angular deformities and limb length discrepancies in pediatric patients.
Image Source: Zacks Investment Research
Joe Hauser, president of Trauma and Deformity Correction at OrthoPediatrics noted that by leveraging the expertise of OrthoPediatrics Canada, this system provides pediatric orthopedic surgeons a new and advanced treatment option, promising better outcomes for their young patients.
Market Prospects
Going by a Verified Market Research report, the pediatric orthopedic implants market is set to experience substantial growth in the coming years. It is expected to touch $2.12 billion by 2030, at a CAGR of 6.21%, driven by various factors.
The increasing number of children with malnutrition and bone deformities contributes to the market's expansion. The use of implants in hospitals and clinics to treat conditions like trauma, sports injuries, and deformities, enabled by technological advancements, is another driver. Patient education about orthopedic disorders further fuels market growth.
However, the requirement for skilled professionals to perform surgeries and the potential negative impact of surgical failures may limit market growth. Nonetheless, this market presents promising prospects.
Share Price Performance
Over the past year, shares of OrthoPediatrics have declined 2.3% against the industry’s rise of 12.4%.
Zacks Rank and Key Picks
OrthoPediatrics currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the overall healthcare sector are Penumbra (PEN - Free Report) , Lantheus and Haemonetics (HAE - Free Report) . Penumbra, Lantheus and Haemonetics each sport a Zacks Rank #1 (Strong Buy) at present. You can see the complete list of today’s Zacks #1 Rank stocks here.
Penumbra’s stock has surged 164.5% in the past year. The Zacks Consensus Estimate for Penumbra’s earnings per share (EPS) has remained constant at $1.56 for 2023 and $2.56 for 2024 in the past 30 days.
PEN’s earnings beat the consensus mark in each of the trailing four quarters, the average surprise being 109.42%. In the last reported quarter, the company registered an earnings surprise of 109.09%.
The Zacks Consensus Estimate for Lantheus’ 2023 EPS has remained constant at $5.60 in the past 30 days. Shares of the company have rallied 28% in the past year against the industry’s 20.8% decline.
LNTH’s earnings beat estimates in each of the trailing four quarters, the average surprise being 25.77%. In the last reported quarter, the company recorded an earnings surprise of 13.95%.
Estimates for Haemonetics’ EPS for 2023 have increased from $3.55 to $3.56 in the past 30 days. Shares of the company have surged 28.9% in the past year against the industry’s 20.8% decline.
HAE’s earnings beat estimates in all of the trailing four quarters, the average surprise being 12.21%. In the last reported quarter, Haemonetics delivered an earnings surprise of 13.2%.
Disclaimer: This article has been written with the assistance of Generative AI. However, the author has reviewed, revised, supplemented, and rewritten parts of this content to ensure its originality and the precision of the incorporated information.