NEW YORK, October 31, 2016 /PRNewswire/ --
The medical device and technology markets are facing global
challenges like escalating consolidation, conflicts with insurance
companies, as well as political and economic uncertainties in
China and Europe. Despite these challenges, a research
report by Evaluate Ltd, released at AdvaMed, estimates that the
medical device and technology markets will grow 5% or more annually
until 2022 and reaching nearly $530
billion. Medovex Corp. (NASDAQ: MDVX), Boston Scientific
Corporation (NYSE: BSX), Zimmer Biomet Holdings Inc. (NYSE: ZBH),
Medtronic PLC (NYSE: MDT), Baxter International Inc. (NYSE:
BAX)
The drop in sales witnessed in the medical device and technology
markets from 2014 to 2015 resulted in 12 out the 20 largest
companies in the market to have negative growth, according to
Evaluate's research. This in turn caused several "mega mergers" and
cost cuts. In the first half of 2016 mergers and acquisitions
activities dropped nearly 80%, indicating that consolidation will
no longer be an issue to worry about and partially due to resumed
growth. Ian Strickland,
EvaluateMedTech product manager said, "The device industry is
growing reasonably rapidly, and the calming of the M&A scene
does not pose a problem for the expected growth."
A small company making noise in this sector, Medovex
Corp. (NASDAQ: MDVX) is biomedical device company with the
mission of acquiring and developing a portfolio of potentially
ground breaking medical technology products. According to the
company, they focus on products with potential for significant
improvement in the quality of patient care combined with cost
effectiveness. The Company's first pipeline product, the DenerveX
device, is intended to provide long lasting relief from pain
associated with facet joint syndrome at a much lower cost than
other currently available treatments.
Recently on October
13th Medovex Corp. announced that the company
successfully exhibited its' DenerveX System during EuroSpine 2016
Tradeshow last week in Berlin,
Germany. The event marked the official opening of the
Company's European Distribution Center in Berlin. The new distribution service
headquarters will function as a commercial hub for all European
distributors, as well as other customer and technical support
services, while international operations center and the company's
global operational headquarters will remain in Atlanta, Georgia.
Patrick Kullmann, President and
COO for Medovex Corp., said in a statement, "We consider EuroSpine
2016 in Berlin our 'pre-launch'
meeting leading up to what is expected to be an eventual formal CE
Marking. In particular, we were very pleased to see visiting
surgeons and distributors from more than 25 countries, and from all
continents, at our booth, along with existing and new potential
distributors visiting with us."
Boston Scientific Corporation (NYSE: BSX) is a
developer, manufacturer and marketer of medical devices that are
used in a range of interventional medical specialties. The company
manufactures devices such as defibrillators, direct visualization
systems, remote monitoring devices, and many more. Earlier this
August, Boston Scientific has announced the FDA approval of the
EMBLEM MRI Subcutaneous Implantable Defibrillator (S-ICD)
System.
Zimmer Biomet Holdings Inc. (NYSE: ZBH) is engaged
designing, manufacturing and marketing a wide range of medically
relevant products, including orthopaedic reconstructive products,
sports medicine, biologics, extremities and trauma products, as
well as spine and bone healing, and more. Recently the company
announced the acquisition of RespondWell, an award-winning
telerehabilitation technology designed to provide
clinician-supervised post-surgical physical therapy in the comfort
of a patient's home.
Medtronic PLC (NYSE: MDT) is a medical technology and
services company focused on development, manufacturing and
marketing of medical devices and technologies to hospitals,
physicians, clinicians and patients in approximately 160 countries.
This October the Medtronic announced the an FDA approval and U.S.
launch of the CoreValve(TM) Evolut(TM) R 34 mm valve-the largest
sized transcatheter aortic valve replacement system available in
the U.S. The new Evolut R 34 mm valve is approved for severe aortic
stenosis patients who are at high or extreme risk for surgery.
Baxter International Inc. (NYSE: BAX) owns a
portfolio of essential renal and hospital products, including home,
acute and in-center dialysis, sterile intravenous (IV) solutions,
infusion systems and more. The company also provides products and
services related to pharmacy compounding, and drug formulation.
This month Baxter announced the global launch of HDx enabled by
THERANOVA, a new type of hemodialysis therapy that provides high
performance treatments with integration into existing healthcare
infrastructure. Baxter will launch HDx enabled by THERANOVA in
Australia, New Zealand, France, Germany, Switzerland and Belgium this year.
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