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Medtronic's (MDT) Inceptiv Spinal Cord Stimulator Gets CE Mark
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Medtronic plc (MDT - Free Report) recently received CE Mark approval for its Inceptiv closed-loop rechargeable spinal cord stimulator (SCS). The Inceptiv SCS system won't be sold or distributed in the United States but will be commercially available in Europe in the upcoming months.
The latest approval will fortify Medtronic’s Neuromodulation business, part of the Neuroscience Portfolio.
More on Inceptiv SCS System
Inceptiv SCS System is the first Medtronic SCS device to offer a closed-loop feature that senses each person's unique biological signals and adjusts stimulation moment to moment to keep therapy in sync with the motions of daily life.
The Inceptiv device uses a closed-loop ECAP (Evoked Compound Action Potential) capacity, the result of years of research and development by Medtronic, to provide the ability to hear and react to signals throughout the spinal cord. The device can respond to patient movements in real time thanks to ECAPs, which directly measure how much neural tissue in the spinal cord is active in response to electrical stimulation.
Benefits of Inceptiv SCS System
The distance between the spinal cord and the implanted epidural leads can change due to patient movements, which are not considered by fixed-output spinal cord stimulation today. The Inceptiv closed-loop function will enable more optimal and consistent therapy delivery and less manual programming adjustment on the part of the patient. This most recent generation of rechargeable neurostimulators represents a substantial advancement in SCS therapy and a turning point in contemporary neuromodulation.
More than 50 years ago, Medtronic invented SCS for pain management and continues to produce innovative breakthroughs that personalize care and enhance patient pain relief. With this permission, a new era of pain management that uses sensing technologies to account for each patient's particular biological signals has officially begun.
Industry Prospects
Per a report by Grand View Research, the global spinal cord stimulation devices market size was valued at $1.83 billion in 2018 and is anticipated to expand at a CAGR of 8.7% by 2026. The rise in the number of patients suffering from failed back syndrome, chronic pain, and Complex Regional Pain Syndrome (CRPS) is the key factor boosting the market growth.
Recent Developments
In June 2023, Medtronic presented a robust collection of new clinical and real-world data on its MiniMed 780G insulin pump system. The results were demonstrated at the 83rd American Diabetes Association (“ADA”) Scientific Sessions in San Diego, CA.
The latest data sets showed that the proprietary Meal Detection technology of MiniMed 780G supported Time in Range outcomes, which exceeded consensus guidelines of 70%. Additionally, the system helps to reduce the percentage of time spent in hyperglycemia in children and adults.
Image Source: Zacks Investment Research
In May 2023, Medtronic entered into a definitive agreement to acquire EOFlow Co. Ltd., the manufacturer of the EOPatch device. The acquisition will expand the company's ability to serve more people living with diabetes worldwide within one seamless Medtronic ecosystem of support.
Price Performance
In the past six months, MDT shares have increased 0.2% against the industry’s fall of 2.4%.
Zacks Rank and Key Picks
Medtronic currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Elevance Health, Inc. (ELV - Free Report) , Integer Holdings Corporation (ITGR - Free Report) and Patterson Companies, Inc. (PDCO - Free Report) .
Elevance Health reported second-quarter 2023 adjusted EPS of $9.04, beating the Zacks Consensus Estimate by 2.5%. Revenues of $43.38 billion surpassed the Zacks Consensus Estimate by 4.5%. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Elevance Health has a long-term estimated growth rate of 12.1%. ELV’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 2.8%.
Integer Holdings reported second-quarter 2023 adjusted EPS of $1.14, beating the Zacks Consensus Estimate by 15.2%. Revenues of $400 million surpassed the Zacks Consensus Estimate by 8.9%. It currently carries a Zacks Rank #2.
Integer Holdings has a long-term estimated growth rate of 12.1%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 8.4%.
Patterson Companies has an Earnings ESP of +5.66% and a Zacks Rank of 1. PDCO has an estimated long-term growth rate of 9.2%.
Patterson Companies’ earnings surpassed estimates in three of the trailing four quarters and missed once, with the average surprise being 4.5%.
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Medtronic's (MDT) Inceptiv Spinal Cord Stimulator Gets CE Mark
Medtronic plc (MDT - Free Report) recently received CE Mark approval for its Inceptiv closed-loop rechargeable spinal cord stimulator (SCS). The Inceptiv SCS system won't be sold or distributed in the United States but will be commercially available in Europe in the upcoming months.
The latest approval will fortify Medtronic’s Neuromodulation business, part of the Neuroscience Portfolio.
More on Inceptiv SCS System
Inceptiv SCS System is the first Medtronic SCS device to offer a closed-loop feature that senses each person's unique biological signals and adjusts stimulation moment to moment to keep therapy in sync with the motions of daily life.
The Inceptiv device uses a closed-loop ECAP (Evoked Compound Action Potential) capacity, the result of years of research and development by Medtronic, to provide the ability to hear and react to signals throughout the spinal cord. The device can respond to patient movements in real time thanks to ECAPs, which directly measure how much neural tissue in the spinal cord is active in response to electrical stimulation.
Benefits of Inceptiv SCS System
The distance between the spinal cord and the implanted epidural leads can change due to patient movements, which are not considered by fixed-output spinal cord stimulation today. The Inceptiv closed-loop function will enable more optimal and consistent therapy delivery and less manual programming adjustment on the part of the patient. This most recent generation of rechargeable neurostimulators represents a substantial advancement in SCS therapy and a turning point in contemporary neuromodulation.
More than 50 years ago, Medtronic invented SCS for pain management and continues to produce innovative breakthroughs that personalize care and enhance patient pain relief. With this permission, a new era of pain management that uses sensing technologies to account for each patient's particular biological signals has officially begun.
Industry Prospects
Per a report by Grand View Research, the global spinal cord stimulation devices market size was valued at $1.83 billion in 2018 and is anticipated to expand at a CAGR of 8.7% by 2026. The rise in the number of patients suffering from failed back syndrome, chronic pain, and Complex Regional Pain Syndrome (CRPS) is the key factor boosting the market growth.
Recent Developments
In June 2023, Medtronic presented a robust collection of new clinical and real-world data on its MiniMed 780G insulin pump system. The results were demonstrated at the 83rd American Diabetes Association (“ADA”) Scientific Sessions in San Diego, CA.
The latest data sets showed that the proprietary Meal Detection technology of MiniMed 780G supported Time in Range outcomes, which exceeded consensus guidelines of 70%. Additionally, the system helps to reduce the percentage of time spent in hyperglycemia in children and adults.
Image Source: Zacks Investment Research
In May 2023, Medtronic entered into a definitive agreement to acquire EOFlow Co. Ltd., the manufacturer of the EOPatch device. The acquisition will expand the company's ability to serve more people living with diabetes worldwide within one seamless Medtronic ecosystem of support.
Price Performance
In the past six months, MDT shares have increased 0.2% against the industry’s fall of 2.4%.
Zacks Rank and Key Picks
Medtronic currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Elevance Health, Inc. (ELV - Free Report) , Integer Holdings Corporation (ITGR - Free Report) and Patterson Companies, Inc. (PDCO - Free Report) .
Elevance Health reported second-quarter 2023 adjusted EPS of $9.04, beating the Zacks Consensus Estimate by 2.5%. Revenues of $43.38 billion surpassed the Zacks Consensus Estimate by 4.5%. It currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Elevance Health has a long-term estimated growth rate of 12.1%. ELV’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 2.8%.
Integer Holdings reported second-quarter 2023 adjusted EPS of $1.14, beating the Zacks Consensus Estimate by 15.2%. Revenues of $400 million surpassed the Zacks Consensus Estimate by 8.9%. It currently carries a Zacks Rank #2.
Integer Holdings has a long-term estimated growth rate of 12.1%. ITGR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 8.4%.
Patterson Companies has an Earnings ESP of +5.66% and a Zacks Rank of 1. PDCO has an estimated long-term growth rate of 9.2%.
Patterson Companies’ earnings surpassed estimates in three of the trailing four quarters and missed once, with the average surprise being 4.5%.