Estimated Revenues Continue to Rise For U.S. And Global Medical Device Markets
Palm Beach, FL – March 19, 2019 – The U.S. medical device industry has seen its revenues continue to increase and it is poised is to become the global leader of this expanding market. It seems as though each new projection breaks through the ceiling of the previous projection. Here are some of the estimated revenue projections: FORBES had called it: “… A disruptive market of $410 billion until 2023, changes dramatically with the entrance of small and medium size players, many of them rising up from the startup community. SelectUSA, a U.S. government-wide program led by the U.S. Department of Commerce, said: “The U.S. remains the largest medical device market in the world, with a market size of around $156 billion as well as representing about 40 percent of the global medical device market last year alone.” And Statista, as a leading provider of market and consumer data, one upped what FORBES had reported by increasing the 2023 figure from $410 billion to $566.3 billion and predicting that: “ In 2024, the total medical technology revenue globally is expected be nearly $600 billion U.S. dollars.” Active Healthcare companies in the markets this week include: Soliton, Inc. (NASDAQ: SOLY), Bio-Path Holdings, Inc. (NASDAQ: BPTH), Atossa Genetics Inc. (NASDAQ: ATOS), Dermira, Inc. (NASDAQ: DERM), Avinger, Inc. (NASDAQ: AVGR).
A recent article published on Nasdaq.com states that: “The global medical device industry has demonstrated strong and sustainable growth… 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.” At present and into the foreseeable future, the U.S. markets are well positioned to continue to lead in revenue: “… the United States is the largest medical device market in the world at present, (presently is) raking in more than $180 billion in revenues.
Soliton, Inc. (NASDAQ: SOLY) BREAKING NEWS: Soliton, a medical device company with a novel and proprietary platform technology licensed from The University of Texas on behalf of the MD Anderson Cancer Center (“MD Anderson”), completed the human trials of its proprietary Rapid Acoustic Pulse (RAP) Device to support the Company’s FDA 510(k) submission. The Company conducted three rounds of human trials to study the use of the RAP device to accelerate tattoo fading.
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“The human trials provided evidence of the potential for the RAP technology to accelerate tattoo fading,” said Dr. Chris Capelli, Soliton’s President and CEO. “The combination treatment of the RAP device and a laser outperformed a laser alone, showing an average of 80% fading after only two visits vs 44% fading for the laser alone. After 3 Soliton Multi-Pass treatments, 100% of the treated tattoos had a ‘Complete’ (76-100% faded) response; in comparison, only 17% of the tattoos treated with the Laser Only had a ‘Complete’ response.” Read this and more news for SOLY at: https://www.financialnewsmedia.com/news-soly/
Other recent developments in the healthcare, biotech industries:
Bio-Path Holdings, Inc. (NASDAQ: BPTH) a biotechnology company leveraging its proprietary DNAbilize® antisense RNAi nanoparticle technology to develop a portfolio of targeted nucleic acid cancer drugs, recently announced that it will host a live conference call and audio webcast on Wednesday, March 20, 2019 at 8:30 a.m. ET to report financial results for the fourth quarter and full year ended December 31, 2018 and to provide a business overview.
To access the live conference call, please call (844) 815-4963 (domestic) or (210) 229-8838 (international) at least five minutes prior to the start time and refer to conference ID 1794629. A live audio webcast of the call will also be available on the Presentations section of the Company’s website. An archived webcast will be available on the Bio-Path website approximately two hours after the event.
Atossa Genetics Inc. (NASDAQ: ATOS) a clinical-stage biopharmaceutical company developing novel therapeutics and delivery methods to treat breast cancer and other breast conditions, recently announced that on March 14 and 15, 2019, it received approximately $10 million from exercises of previously outstanding warrants. The warrants were issued by the Company in the rights offering completed May 30, 2018. As result of the warrant exercises, the Company retired 2.5 million warrants and issued 2.5 million shares of common stock.
“The $10 million in cash proceeds significantly enhances our cash position and provides working capital for our ongoing and planned clinical studies,” commented Kyle Guse, CFO and General Counsel of Atossa Genetics. “Moreover, the warrant exercises are essentially ‘non-dilutive’ because the warrants were previously outstanding and are now removed from our overhang.”
Dermira, Inc. (NASDAQ: DERM) a biopharmaceutical company dedicated to bringing biotech ingenuity to medical dermatology by delivering differentiated, new therapies to the millions of people living with chronic skin conditions, recently announced positive results from a Phase 2b dose-ranging study of lebrikizumab, an investigational therapy, in adult patients with moderate-to-severe atopic dermatitis. All three doses of lebrikizumab met the primary endpoint, demonstrating greater improvements in the Eczema Area and Severity Index (EASI) score compared to placebo. The safety profile for lebrikizumab observed in the study was consistent with prior studies evaluating this investigational therapy.
Lebrikizumab is a novel, injectable, humanized monoclonal antibody designed to bind interleukin-13 (IL-13) with high affinity, specifically preventing the formation of the IL-13Rα1/IL-4Rα heterodimer complex, which inhibits downstream signaling. IL-13 is believed to be a central pathogenic mediator that drives multiple aspects of the pathophysiology of atopic dermatitis by promoting type 2 inflammation and mediating its effects on tissue, resulting in skin barrier dysfunction, itch, skin thickening and infection.
Avinger, Inc. (NASDAQ: AVGR) a commercial-stage medical device company marketing the first and only intravascular image-guided, catheter-based system for diagnosis and treatment of patients with Peripheral Artery Disease (PAD), recently reported results for the fourth quarter and full year ended December 31, 2018.
Jeff Soinski, Avinger’s president and CEO, commented, “We are excited with the continued momentum for our next-generation Pantheris atherectomy device, including treatment of our 500th patient in December. Pantheris fourth quarter revenue increased 18% quarter-over-quarter, with more than 65 of our Lumivascular centers now using the next-generation device. Feedback from the field continues to be excellent, with clinical results, product reliability and case volume all tracking positively for the next generation device. We continued to build our sales organization in the fourth quarter and expect to increase sales headcount in 2019 as we scale utilization and drive revenue growth.
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