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Terumo's (TRUMY) MicroVention Enters Transradial Access Space
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Terumo Corporation’s (TRUMY - Free Report) wholly owned subsidiary, MicroVention, Inc., has achieved a major milestone in the field of neurovascular medical technology. MicroVention’s SOFIA EX 5F 115 cm Intracranial Support Catheter has been granted the FDA 510(k) clearance for transradial access. This latest regulatory nod is in addition to its earlier approval for transfemoral access.
This development marks MicroVention's foray into the transradial access therapy space.
New Features
The SOFIA EX 5F Catheter by Terumo’s MicroVention boasts a new design to enhance trackability, making it ideal for navigating intracranial locations in patients. Its reinforced structure, incorporating a nitinol coil and stainless-steel braid, delivers better support and kink resistance. The catheter is equipped with an inner PTFE liner throughout its length, featuring 12 transition zones optimized for pushability.
According to TRUMY, these attributes combinedly offer a fast and effective means of reaching intracranial targets, ensuring both safety and precision in neurointervention procedures.
Image Source: Zacks Investment Research
Foray Into Transradial Access Space
Transradial access, while using the radial artery in the wrist, presents a less invasive alternative to transfemoral access. It reduces the risk of complications and accelerates patient recovery. The FDA clearance of SOFIA EX 5F for transradial access expands MicroVention's product portfolio as well as aligns with the growing trend in the medical community toward this approach.
This latest development aligns with Terumo's century-old vision of "Contributing to Society through Healthcare," emphasizing the global leader's dedication to enhancing medical solutions worldwide.
Market Prospects
Going by a Straits Research report, in 2022, the global transradial access devices market was valued at $2.4 billion and it is projected to witness substantial growth, reaching $4.9 billion by 2031 at a CAGR of 8.3% during the forecast period of 2023-2031. Growth is mainly driven by factors, such as the rising prevalence of artery disorders, the preference for transradial access in medical procedures and ongoing advancements in healthcare technology. Sedentary lifestyles, processed food consumption and physical inactivity have also played a role in this trend. Moreover, the use of alcohol and tobacco has contributed to heart-related issues.
Share Price Performance
Shares of Terumo have declined 3.8% over the past year against a 0.4% improvement of the industry.
Zacks Rank and Key Picks
Terumo carries a Zacks Rank #5 (Strong Sell) at present.
Haemonetics' stock has risen 27.3% in the past year. Earnings estimates for Haemonetics have remained constant at $3.82 for 2023 and $4.07 for 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have remained constant at 97 cents in the past 30 days. Shares of the company have surged 221.9% in the past year compared with the industry’s rise of 1.4%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for Intuitive Surgical’s 2023 earnings have remained constant at $5.57 per share in the past 30 days. Shares of the company have gained 57.3% in the past year compared with the industry’s growth of 3.8%.
ISRG’s earnings beat estimates in three of the trailing four quarters and missed in one, the average surprise being 4.19%. In the last reported quarter, Intuitive Surgicaldelivered an earnings surprise of 7.58%.
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Terumo's (TRUMY) MicroVention Enters Transradial Access Space
Terumo Corporation’s (TRUMY - Free Report) wholly owned subsidiary, MicroVention, Inc., has achieved a major milestone in the field of neurovascular medical technology. MicroVention’s SOFIA EX 5F 115 cm Intracranial Support Catheter has been granted the FDA 510(k) clearance for transradial access. This latest regulatory nod is in addition to its earlier approval for transfemoral access.
This development marks MicroVention's foray into the transradial access therapy space.
New Features
The SOFIA EX 5F Catheter by Terumo’s MicroVention boasts a new design to enhance trackability, making it ideal for navigating intracranial locations in patients. Its reinforced structure, incorporating a nitinol coil and stainless-steel braid, delivers better support and kink resistance. The catheter is equipped with an inner PTFE liner throughout its length, featuring 12 transition zones optimized for pushability.
According to TRUMY, these attributes combinedly offer a fast and effective means of reaching intracranial targets, ensuring both safety and precision in neurointervention procedures.
Image Source: Zacks Investment Research
Foray Into Transradial Access Space
Transradial access, while using the radial artery in the wrist, presents a less invasive alternative to transfemoral access. It reduces the risk of complications and accelerates patient recovery. The FDA clearance of SOFIA EX 5F for transradial access expands MicroVention's product portfolio as well as aligns with the growing trend in the medical community toward this approach.
This latest development aligns with Terumo's century-old vision of "Contributing to Society through Healthcare," emphasizing the global leader's dedication to enhancing medical solutions worldwide.
Market Prospects
Going by a Straits Research report, in 2022, the global transradial access devices market was valued at $2.4 billion and it is projected to witness substantial growth, reaching $4.9 billion by 2031 at a CAGR of 8.3% during the forecast period of 2023-2031. Growth is mainly driven by factors, such as the rising prevalence of artery disorders, the preference for transradial access in medical procedures and ongoing advancements in healthcare technology. Sedentary lifestyles, processed food consumption and physical inactivity have also played a role in this trend. Moreover, the use of alcohol and tobacco has contributed to heart-related issues.
Share Price Performance
Shares of Terumo have declined 3.8% over the past year against a 0.4% improvement of the industry.
Zacks Rank and Key Picks
Terumo carries a Zacks Rank #5 (Strong Sell) at present.
Some better-ranked stocks in the broader medical space are Haemonetics (HAE - Free Report) , Quanterix (QTRX - Free Report) and Intuitive Surgical (ISRG - Free Report) , each carrying a Zacks Rank #2 (Buy) at present. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Haemonetics' stock has risen 27.3% in the past year. Earnings estimates for Haemonetics have remained constant at $3.82 for 2023 and $4.07 for 2024 in the past 30 days.
HAE’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 19.39%. In the last reported quarter, it posted an earnings surprise of 38.16%.
Estimates for Quanterix’s 2023 loss per share have remained constant at 97 cents in the past 30 days. Shares of the company have surged 221.9% in the past year compared with the industry’s rise of 1.4%.
QTRX’s earnings beat estimates in each of the trailing four quarters, delivering an average surprise of 30.39%. In the last reported quarter, it posted an earnings surprise of 55.56%.
Estimates for Intuitive Surgical’s 2023 earnings have remained constant at $5.57 per share in the past 30 days. Shares of the company have gained 57.3% in the past year compared with the industry’s growth of 3.8%.
ISRG’s earnings beat estimates in three of the trailing four quarters and missed in one, the average surprise being 4.19%. In the last reported quarter, Intuitive Surgicaldelivered an earnings surprise of 7.58%.