Continued Growth Forecast For Billion Dollar U.S. Medical Device Markets
Palm Beach, FL – February 26, 2018 – While the U.S. remains the leader of the technology and social media markets, they are not the only industries projected to lead the global markets. The U.S. medical device industry has been growing and is poised is to take the lead in this category as well. A recent article published on Nasdaq.com states that: “The global medical device industry has demonstrated strong and sustainable growth in the recent past. Banking on an aging population, increasing incidence of chronic and lifestyle diseases, increasing adoption of artificial intelligence (AI) and big-data applications, upbeat consumer sentiment and increased business investments, this sector appears to be in the pink of health. Going by KPMG data, the medical device industry’s global annual sales is forecast to rise more than 5% a year to reach nearly $800 billion by 2030.” Active Healthcare companies in the markets this week include: Soliton, Inc. (NASDAQ: SOLY), Medtronic plc (NYSE: MDT), DexCom, Inc. (NASDAQ: DXCM), Boston Scientific Corporation (NYSE: BSX), Inspire Medical Systems, Inc. (NYSE: INSP).
The article quotes a report that says: “… the United States is the largest medical device market in the world at present, raking in more than $180 billion in revenues. Despite several socio-political hazards and economic dips, U.S. medical device companies have been riding high on R&D innovation, increasing consolidation, emerging market expansion and tax cuts.” They conclude that: “Undoubtedly, it has been a very profitable investment space of late.”
Soliton, Inc. (NASDAQ: SOLY) BREAKING NEWS: Soliton, a medical technology company that has developed a new acoustic shockwave device, today announced that the National Intellectual Property Administration (Chinese Patent Office) has issued a notice of grant for Chinese Patent Application No. 201280041817.2, based on International Application No.PCT/IS2012/046674; Entitled “Apparatus for Generating Therapeutic Shockwaves And Applications of Same,” by Christopher C. Capelli.
Dr. Chris Capelli, CEO of Soliton, said, “The granting of this patent is an important milestone for Soliton. With the issuance of this patent in the People’s Republic of China (“PRC”) for our leading-edge Rapid Acoustic Pulse (“RAP”) technology and with our pending United States patents, we are well positioned to develop two of the major consumer markets in the world. We have a strong portfolio that now numbers 38 issued and pending patents that we believe provides Soliton a meaningful competitive advantage in removing unwanted tattoos in about one-third of the time of traditional procedures, with less pain and discomfort, and at a lower overall cost.”
Soliton has discovered other capabilities of the RAP technology during preclinical testing, including the potential to assist existing fat reduction technology in the reduction of fat as well as potentially reducing the appearance of cellulite by creating mechanical stress at the cellular level and inducing significant collagen growth. Importantly, this potential indication could position Soliton RAP as a stand-alone device, without the need for lasers or other procedures.
Dr. Capelli concluded, “If our ongoing clinical trials prove to be effective in cellulite and fat removal, we will dramatically expand our addressable markets. We are excited with the opportunities ahead in the coming years.” Read this and more news for SOLY at: https://financialnewsmedia.com/news-soly/
Other recent developments in the medical technology industry:
Medtronic plc (NYSE: MDT) On February 25, the company, the global leader in medical technology, announced a successful conclusion to the 12th International Conference on Advanced Technologies & Treatments for Diabetes (ATTD 2019), which took place in Berlin from February 20 – 23, 2019.
At this year`s conference, the Diabetes Group at Medtronic presented a range of scientific data focusing on the company`s latest MiniMed(TM) 670G system and its exclusive SmartGuard(TM) technology, including new pediatric data and the importance of Time in Range, defined as the percentage of time people with diabetes spend between the glucose range of 70-180 mg/dL (3.9-10 mmol/L). Medtronic also shared 6-month data assessing the safety and the efficacy of the MiniMed(TM) 640G system`s ability to reduce hypoglycemia compared to insulin pump therapy without continuous glucose monitoring (CGM) in an adult population. Finally, data were also presented on future technologies that aim to improve an insulin pump system`s ability to automatically adjust for meals, supporting the company`s goal to reduce the burden of diabetes management.
DexCom, Inc. (NASDAQ: DXCM) On February 25, the company announced that management will present an update on Dexcom at the following upcoming investor conference: Steven Pacelli, Executive Vice President, Strategy and Corporate Development, will present an update on the company at the 40thAnnual Institutional Investors Conference in Orlando, FL, on Monday, March 4, 2019 at 3:25 PM (ET). The presentation, which will occur live at the JW Marriott Orlando Grande Lakes, will be concurrently webcast.
Boston Scientific Corporation (NYSE: BSX) On February 25, the company announced it had completed a public offering of $4.3 billion aggregate principal amount of its senior notes. The public offering consists of $850 million of 3.450% notes due 2024, $850 million of 3.750% notes due 2026, $850 million of 4.000% notes due 2029, $750 million of 4.550% notes due 2039 and $1.0 billion of 4.700% notes due 2049.
The Company intends to use the net proceeds from the offering to finance a portion of its previously announced proposed acquisition of BTG plc (the “BTG Acquisition”), redeem its 6.000% notes due January 2020 and its 2.850% notes due May 2020 (collectively, the “2020 Notes”), of which $850 million aggregate principal amount and $600 million aggregate principal amount, respectively, were outstanding as of the date of the aforementioned offering, ) repay amounts outstanding under its $1.0 billion Term Loan facility maturing August 2019, which bore interest at an annual rate of LIBOR plus 0.65%, (iv) repay other short term debt and (v) pay related fees, expenses and premiums.
Inspire Medical Systems, Inc. (NYSE: INSP), a medical technology company focused on the development and commercialization of innovative and minimally invasive solutions for patients with obstructive sleep apnea, recently announced that its management team will be presenting at the 8th Annual SVB Leerink Global Healthcare Conference on February 28, 2019 at the Lotte New York Palace in New York. Inspire is scheduled to present at 1:30 p.m. Eastern Time. The presentation will be accessible via a live webcast at: http://wsw.com/webcast/leerink32/insp/.
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