How? First, it has a large base of customers who are motivated to maximize their return on investment with da Vinci rather than look for a new system. DexCom has plenty of room to grow by focusing on its core patient population in the U.S. of 3.2 million individuals who require continuous glucose monitoring. Danaher has historically been one of the medical device stocks to weather economic downturns exceptionally well. Failure to obtain the necessary approvals to go to market could negatively impact these companies' growth prospects. Its MRIdian solution integrates MRI technology, radiation delivery and proprietary software to simultaneously image and treat cancer patients. Let's conquer your financial goals together...faster. Like Intuitive Surgical, Illumina claims a high level of recurring revenue. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. The agency places a medical device into one of three classes: The regulatory hurdles that a medical device company must clear depends on the class its medical device is assigned to. However, there are an estimated 415 million people with diabetes worldwide. There are at least 32,000 medical device makers in the world. The medical device industry should benefit from aging demographic trends for years to come. Align has also created a strong network of orthodontists and dentists who recommend Invisalign to their patients. Global Pre-Owned Medical Devices Market to Reach $6. As a result, these companies face product liability risks if patients are harmed in any way by the use of their medical devices. Since 2014, 8 of the 10 biggest medical devices have outperformed the S&P 500. But medical device makers should see business—and their stocks—pick back up. And you'd be right. 5 Top NASDAQ Medical Device Stocks of 2019. Insulet Corp.: Insulet is a medical device company.It develops and manufactures an insulin infusion system for people with insulin-dependent diabetes. They also face the possibility of being disrupted by new technology developed by some of the thousands of smaller medical device makers. Tandem has a big growth opportunity in the U.S. Exposure to U.S. companies that manufacture and distribute medical devices 2. With new products on the way to treat more difficult cases, Align should be able to expand its addressable market significantly as well. CEO Gary Guthart noted in the company's Q4 earnings conference call that there have been nearly 1,500 peer-reviewed clinical journal articles for the da Vinci system. This segment markets medical devices including grafts, angioplasty balloon catheters, stents, and urinary catheters. Also, Intuitive Surgical is investing heavily in research and development. The rhythm and neuro segment markets medical devices including catheters used in electrophysiology, defibrillators, and neuromodulation devices for treating movement disorders and managing chronic pain. Intuitive's revenue jumped nearly 19% last year to $3.7 billion, while earnings soared 68% year over year to more than $1.1 billion. Finance, company presentations. This definition includes any "instrument, apparatus, implement, machine, contrivance, implant, in vitro reagent, or other similar or related article, including a component part, or accessory" that is used in diagnosing, curing, preventing, or treating a disease. And these markets continue to grow as the country's populations age. In particular, U.S.-China trade tensions could present challenges for medical device companies that either already have a presence in China or hope to establish operations there. The company's medication delivery products include IV therapies and infusion pumps, while its pharmaceuticals products include cancer drugs and anesthesia products. The company's medical device segment makes most of its revenue from surgical products, with growth fueled primarily by wound care and advanced sterilization products. Tag Rating: Performance: Yesterday: 1.16% 30 Day: 10.63% 1 Year: 33.44% ... Becton, Dickinson and Co. PODD: Insulet Corp: All Stocks. Inari Medical's stock opens at $41.30, or 117% above the $19 IPO price May. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. The competitive dynamics for these companies vary greatly depending on the type of product they make. The company also sells iTero intraoral scanners that dental professionals use to create 3D images of patients' teeth, which are then used to development Invisalign treatment plans. Headquartered in Cambridge UK, DeviceStock provides a unique suite of tools allowing medical device companies to manage boot stock accurately and efficiently. Unlike Johnson & Johnson and Abbott Labs, all of Medtronic's revenue stems from the medical device market. There's no way to know whether medical device stocks will perform as well in 2019 as they did last year. Medtronic is the third-largest medical device stock in terms of market cap. This filing shows the FDA that the medical device is at least as safe and effective as an already-approved product that didn't require more extensive approval. The cardiovascular segment contributed nearly 39% of Boston Scientific's total revenue in 2018. Here's what you need to know about the 10 biggest medical device stocks on the market right now. Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics. Also, the pump's Basal-IQ technology helps predict when insulin levels are about to move outside of thresholds before they do. Beyond the aging populations across the world, there's also likely to be a significant increase in chronic conditions among individuals who aren't as old. This is the largest segment, accounting for 54% of the company… They belong to the Medical-Systems/Equipment industry group and, respectively, have Composite Rating of 95 and 98. Cumulative Growth of a $10,000 Investment in Stock Advisor, the company's Q4 earnings conference call, long-term demographic trend of aging global populations, Copyright, Trademark and Patent Information, Clear dental aligners, intraoral scanners, Continuous glucose monitoring (CGM) systems. It focuses on developing and marketing neurosurgical, neurovascular, and spinal implant devices. The company celebrated its 100,000th patient in the fourth quarter of 2018. This unit primarily focuses on peritoneal dialysis and hemodialysis products. But based solely on sales of medical devices, the stock holds the No. Stock Advisor launched in February of 2002. It also is the smallest insulin pump on the market, which makes it more convenient for users to wear. There's also a risk that new products in development could fail to secure FDA approval or encounter delays in receiving clearance for marketing, as well as the risk for product liability lawsuits and legal action if any of the medical devices turn out to be less safe than once thought. Another key component of a medical device maker's financial position is its available cash, including cash equivalents and short-term investments. Story continues The other companies are also likely to see stiffer competition in the future. 5. But the fastest sales growth is coming from Edwards' surgical structural heart products. The FDA reviews these PMA applications closely, and sometimes enlists the help of outside experts in the review process. Growth potential The most important aspect of a medical device company's financial position to consider is its profitability. 1. 7 on the list of the top 10 medical device stocks, but its acquisition of United Kingdom-based medical device maker BTG could bump the company into the No. J&J is a holding company that operates more than 260 companies across the world. They all have solid competitive advantages. Johnson & Johnson isn't just the biggest medical device stock on the market; it's the biggest stock in the entire healthcare sector. ET by Tomi Kilgore Inari Medical's stock indicated … The company's NovaSeq system, introduced in 2017, continues to drive much of Illumina's growth as existing HiSeq customers convert to the system and new customers begin performing genomic sequencing. 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