Yahoo Finance AtriCure's (ATRC) cryoSPHERE+ Probe to Aid in Pain Management
AtriCure, Inc. ATRC recently announced the launch of the cryoSPHERE+ cryoablation probe, which uses innovative insulation technology to reduce freeze times by 25% in comparison with AtriCure’s legacy cryoSPHERE device.
CryoSPHERE+ is a significant invention that is likely to improve patient care, boost results, and provide doctors with more comfort and confidence when performing treatments.
Price Performance
In the past six months, ATRC’s shares have lost 34.2% against the industry’s rise of 12.9%. The S&P 500 has gained 18.6% in the same time frame.
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More on the Launch
The cryoSPHERE+ device, which is part of the cryoICE platform, is built upon the proven safety and efficacy of the cryoSPHERE device, which was cleared in November 2018 and has been used in more than 60,000 procedures to date.
FDA 510(k) approval was granted to cryoSPHERE+ to temporarily suppress pain in adult patients by ablation of peripheral nerves and in adolescent patients (12-21 years) by ablation of intercostal nerves under direct observation.
By concentrating energy at the ball tip, the cryoSPHERE+ gadget uses cutting-edge technology to reduce thermal loss and expedite the time it takes to reach a therapeutic temperature. This permits a 25% decrease in the freeze time, which lowers the operative time.
AtriCure’s cryoICE platform technology uses a unique freezing method to block nerves from transmitting pain signals for several months. Due to the technology’s long-lasting nature, physicians are adopting Cryo Nerve Block therapy using cryoSPHERE as part of their multi-modal pain management strategy.
The product is currently in an extended limited launch period in the United States, with full launch expected by the second-quarter end.
Industry Prospects
Per a report by Grand View Research, the global pain management devices market size was estimated at $6.92 billion in 2022 and is expected to witness a growth rate of 9.5% from 2023 to 2030.
The increasing prevalence of lifestyle diseases, such as diabetes and obesity, has boosted the demand for nerve and muscle stimulators. The rising prevalence of hypertension or trauma is another significant factor expected to propel market growth.
Given the market potential, AtriCure’s new launches are likely to boost the company’s business and generate additional revenues.
AtriCure, Inc. Price
AtriCure, Inc. price | AtriCure, Inc. Quote
Zacks Rank and Stocks to Consider
ATRC carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space are DaVita Inc. DVA, Cardinal Health, Inc. CAH and LeMaitre Vascular, Inc. LMAT.
DaVita, flaunting a Zacks Rank #1 (Strong Buy) at present, has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 61.6% compared with the industry’s 17.6% rise in the past year.
Cardinal Health, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has gained 38.1% compared with the industry’s 9.7% rise in the past year.
LeMaitre Vascular, sporting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 14%. LMAT’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 8.9%.
LeMaitre Vascular has rallied 20.8% compared with the industry’s 2.6% rise in the past year.
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DaVita Inc. (DVA) : Free Stock Analysis Report
Cardinal Health, Inc. (CAH) : Free Stock Analysis Report
LeMaitre Vascular, Inc. (LMAT) : Free Stock Analysis Report
AtriCure, Inc. (ATRC) : Free Stock Analysis Report
