Yahoo Finance Merit Medical (MMSI) to Expand Product Suite Via New Launch
Merit Medical Systems, Inc. MMSI recently received the FDA’s 510(k) clearance for its Siege Vascular Plug. The company also announced the launch of its Bearing nsPVA Express Prefilled Syringe in the United States and Australia.
Merit Medical also announced its plans to introduce the Siege Vascular Plug and Bearing nsPVA Express at the upcoming Annual Global Embolization Oncology Symposium Technologies (GEST) Meeting. It will also exhibit other embolic product solutions, including Embosphere Microspheres, EmboCube Embolization Gelatin and Torpedo Gelatin Foam at the GEST.
The latest additions to Merit Medical’s Embolics portfolio (Siege Vascular Plug and Bearing nsPVA Express) will likely complement a comprehensive offering of microsphere, particle and gelatin foam products supported by a range of microcatheters, guide wires and other enabling devices.
The embolotherapy portfolio belongs to Merit Medical’s Vascular – Peripheral product line of the broader Peripheral Intervention (PI) business. The PI business is a component of the Cardiovascular segment.
Few Words on the Products
The Siege Vascular Plug’s design is expected to enable precise placement. It is available in three sizes and can be used to treat peripheral arteries of 1.5 mm to 6.0 mm in diameter. All sizes of the Siege Vascular Plug are delivered with a microcatheter.
The newly-launched Bearing nsPVA Express is a 20-mL, vacuum-sealed syringe prefilled with Merit Medical-manufactured Bearing nsPVA Embolization Particles. The preloaded syringe is expected to offer convenience and ease of use that can save clinicians’ time and minimize product waste. In hands-on testing, all the clinicians (100%) found the Bearing nsPVA Express to be easily incorporated into a procedure, while the majority (75%) said it was easier to use than the vial product.
Significance of the Launch
Embolization is a minimally-invasive procedure where physicians implant devices or materials to occlude blood vessels or abnormal vascular channels. It may be used to stop bleeding or to block the flow of blood to a tumor or abnormal area of tissue. Per Merit Medical, embolization is becoming a widely adopted treatment option on the back of its advancements in recent years.
Per an expert familiar with the use of the Siege Vascular Plug, a plug with rapid occlusion, precise placement and microcatheter compatibility will likely be a valuable addition to clinical practice. A medical personnel familiar with the Bearing nsPVA Express commented that it streamlines embolization procedures as it eliminates several steps involved in using PVA in a vial.
Merit Medical’s management believes that the latest developments will likely meet the needs of the company’s healthcare partners.
Industry Prospects
Per a report by MarketsandMarkets, the global embolotherapy market was valued at $3.4 billion in 2021 and is anticipated to reach $5 billion by 2026 at a CAGR of 8%. Factors like the increasing incidences of peripheral vascular diseases and the growing preference for minimally invasive procedures are likely to drive the market.
Given the market potential, the latest launch is expected to provide a significant boost to Merit Medical’s business in the niche space.
Notable Developments
Last month, Merit Medical reported its first-quarter 2024 results, wherein it registered a solid revenue uptick in its PI product line and the broader Cardiovascular segment both on a reported basis and at constant exchange rate.
In March, Merit Medical announced the commercial release of its FDA-cleared Micro ACE Advanced Micro-Access System. The company also intends to file Micro ACE for CE mark designation.
Price Performance
Merit Medical stock has lost 1.9% over the past year against the industry’s 4.8% rise and the S&P 500's 27.7% growth.
Image Source: Zacks Investment Research
Zacks Rank & Key Picks
Currently, Merit Medical carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are DaVita Inc. DVA, Veeva Systems Inc. VEEV and Ecolab Inc. ECL.
DaVita, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 13.6%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 29.4%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
DaVita’s shares have gained 39.1% compared with the industry’s 24.5% rise in the past year.
Veeva Systems, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 24.1%. VEEV’s earnings surpassed estimates in each of the trailing four quarters, with the average being 8.5%.
Veeva Systems has gained 21.6% compared with the industry’s 50.9% rise in the past year.
Ecolab, carrying a Zacks Rank of 2 at present, has an estimated long-term growth rate of 13.5%. ECL’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 1.3%.
Ecolab’s shares have rallied 34.4% against the industry’s 9.5% decline in the past year.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Ecolab Inc. (ECL) : Free Stock Analysis Report
DaVita Inc. (DVA) : Free Stock Analysis Report
Merit Medical Systems, Inc. (MMSI) : Free Stock Analysis Report
Veeva Systems Inc. (VEEV) : Free Stock Analysis Report
