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Stryker's (SYK) Pangea System to Enhance Plating Solutions
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Stryker Corporation (SYK - Free Report) recently announced the launch of its Pangea Plating System, which received FDA clearance in late 2023. Pangea System is likely to provide variable-angle plating for a range of patient demographics, and its portfolio is both extensive and adaptable.
With Pangea System on board, Stryker is now the go-to partner for all things trauma-related, including plates, nails, external fixation devices, and more, supported by the company’s committed staff and first-rate service.
More on the Pangea Plating System
The Pangea Plating System is indicated for the internal fixation and stabilization of bone fractures, osteotomies and arthrodesis in normal and osteopenic bone. By providing anatomically shaped implants in patient populations with a wide range of fracture patterns, the system was created to improve plate fit and screw placement while elevating the plating market. It offers an evidence-based design for implant fit.
Additionally, 20 anatomic plates and 13 utility plates, all accessible from a single platform, are part of the apparatus and implant trays' simple and intuitive design.
Pangea System’s intuitive design and reliability make it a valuable addition to surgeons’ armamentarium for treating traumatic injuries.
Other Devices From Stryker
Stryker boasts a range of connected digital solutions that aim to provide better patient care and aid in improving workflow.
Stryker's 1688 Advanced Imaging Modalities 4K Platform, which is the first system to incorporate 4K fluorescence technology, gives medical practitioners easy access to the pictures, data, and settings they want. It is administered by the Connected OR Hub. With improved light quality, more precise color reproduction, and superior image clarity, surgical teams can see more detail than ever.
The Blueprint 3D Planning and Mixed Reality system from Stryker aids surgeons to better understand glenoid, humeral and soft tissue deformities while learning about patients' pathology, anticipating challenges and evaluating the range of implant types that could be used. The system permits the use of 3D images and guidance widgets on patients and in the surgeon's line of sight to guide surgeons and their tools without interfering with regular workflow.
Industry Prospects
Per a report by Market Research Future, the global orthopedic trauma devices market was worth $5.9 billion in 2022 and is anticipated to reach $10.7 billion by 2032 at a CAGR of 6.8%. Factors like a growing elderly population, the rising prevalence of osteoporosis and musculoskeletal diseases, and the increasing incidence of sports and traumatic injuries are expected to drive the market.
Given the market potential, Stryker’s latest launch is likely to boost the company’s business and generate additional revenues.
Notable Developments
In August 2024, Stryker announced the completion acquisition of MOLLI Surgical Inc., a privately held company specializing in the development of wire-free soft tissue localization technology for breast-conserving surgery.
As a result of the acquisition, MOLLI’s portfolio is likely to boost Stryker’s commitment to advancing surgical solutions in breast cancer care.
In July 2024, SYK completed the previously announced acquisition of Artelon, a privately held company specializing in innovative soft tissue fixation products for foot and ankle and sports medicine procedures.
The acquisition will highlight Stryker's commitment to providing distinctive ligament and tendon reconstruction solutions and strengthen the company's product line in the soft tissue fixation sector.
In May 2024, SYK announced that it would launch its Gamma4 Hip Fracture Nailing System on a live broadcast event in Germany on Jun 4, 2024.
The company has completed more than 35 surgeries successfully using the Gamma 4 hip Fracture Nailing System across France, Italy, the U.K. and Switzerland as initial use cases. SYK will provide key insights and case discussions during the launch event.
Price Performance
For the past six months, SYK shares have plunged 6.5% against the industry’s rise of 0.4%. The S&P 500 increased 3.6% in the same time frame.
Universal Health Service has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Service has gained 41.1% compared with the industry's 34.8% rise so far this year.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have gained 3.7% so far this year compared with the industry’s 10.2% rise.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 24.1% so far this year compared with the industry’s 11.9% growth.
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Stryker's (SYK) Pangea System to Enhance Plating Solutions
Stryker Corporation (SYK - Free Report) recently announced the launch of its Pangea Plating System, which received FDA clearance in late 2023. Pangea System is likely to provide variable-angle plating for a range of patient demographics, and its portfolio is both extensive and adaptable.
With Pangea System on board, Stryker is now the go-to partner for all things trauma-related, including plates, nails, external fixation devices, and more, supported by the company’s committed staff and first-rate service.
More on the Pangea Plating System
The Pangea Plating System is indicated for the internal fixation and stabilization of bone fractures, osteotomies and arthrodesis in normal and osteopenic bone. By providing anatomically shaped implants in patient populations with a wide range of fracture patterns, the system was created to improve plate fit and screw placement while elevating the plating market. It offers an evidence-based design for implant fit.
Additionally, 20 anatomic plates and 13 utility plates, all accessible from a single platform, are part of the apparatus and implant trays' simple and intuitive design.
Pangea System’s intuitive design and reliability make it a valuable addition to surgeons’ armamentarium for treating traumatic injuries.
Other Devices From Stryker
Stryker boasts a range of connected digital solutions that aim to provide better patient care and aid in improving workflow.
Stryker's 1688 Advanced Imaging Modalities 4K Platform, which is the first system to incorporate 4K fluorescence technology, gives medical practitioners easy access to the pictures, data, and settings they want. It is administered by the Connected OR Hub. With improved light quality, more precise color reproduction, and superior image clarity, surgical teams can see more detail than ever.
The Blueprint 3D Planning and Mixed Reality system from Stryker aids surgeons to better understand glenoid, humeral and soft tissue deformities while learning about patients' pathology, anticipating challenges and evaluating the range of implant types that could be used. The system permits the use of 3D images and guidance widgets on patients and in the surgeon's line of sight to guide surgeons and their tools without interfering with regular workflow.
Industry Prospects
Per a report by Market Research Future, the global orthopedic trauma devices market was worth $5.9 billion in 2022 and is anticipated to reach $10.7 billion by 2032 at a CAGR of 6.8%. Factors like a growing elderly population, the rising prevalence of osteoporosis and musculoskeletal diseases, and the increasing incidence of sports and traumatic injuries are expected to drive the market.
Given the market potential, Stryker’s latest launch is likely to boost the company’s business and generate additional revenues.
Notable Developments
In August 2024, Stryker announced the completion acquisition of MOLLI Surgical Inc., a privately held company specializing in the development of wire-free soft tissue localization technology for breast-conserving surgery.
As a result of the acquisition, MOLLI’s portfolio is likely to boost Stryker’s commitment to advancing surgical solutions in breast cancer care.
In July 2024, SYK completed the previously announced acquisition of Artelon, a privately held company specializing in innovative soft tissue fixation products for foot and ankle and sports medicine procedures.
The acquisition will highlight Stryker's commitment to providing distinctive ligament and tendon reconstruction solutions and strengthen the company's product line in the soft tissue fixation sector.
In May 2024, SYK announced that it would launch its Gamma4 Hip Fracture Nailing System on a live broadcast event in Germany on Jun 4, 2024.
The company has completed more than 35 surgeries successfully using the Gamma 4 hip Fracture Nailing System across France, Italy, the U.K. and Switzerland as initial use cases. SYK will provide key insights and case discussions during the launch event.
Price Performance
For the past six months, SYK shares have plunged 6.5% against the industry’s rise of 0.4%. The S&P 500 increased 3.6% in the same time frame.
Image Source: Zacks Investment Research
Zacks Rank & Other Stocks to Consider
SYK carries a Zacks Rank #2 (Buy) at present.
Some other top-ranked stocks in the broader medical space are Universal Health Service (UHS - Free Report) , Quest Diagnostics (DGX - Free Report) and ABM Industries (ABM - Free Report) . While Universal Health Service sports a Zacks Rank #1 (Strong Buy), Quest Diagnostics and ABM Industries carry a Zacks Rank #2. You can see the complete list of today’s Zacks #1 Rank stocks here.
Universal Health Service has an estimated long-term growth rate of 19%. UHS’ earnings surpassed estimates in each of the trailing four quarters, with the average being 14.58%.
Universal Health Service has gained 41.1% compared with the industry's 34.8% rise so far this year.
Quest Diagnostics has an estimated long-term growth rate of 6.20%. DGX’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 3.31%.
Quest Diagnostics shares have gained 3.7% so far this year compared with the industry’s 10.2% rise.
ABM Industries’ earnings surpassed estimates in each of the trailing four quarters, delivering an average surprise of 7.34%.
ABM's shares have risen 24.1% so far this year compared with the industry’s 11.9% growth.