3 Medtech Sectors Showing Positive Growth
Mike Matson, a medtech analyst at Needham & Co., kicked off earnings season with a recent report on three sectors he thinks grew last quarter, compared to the previous quarter, based on early earnings announcements from several companies.
Matson noted that 12 of the firm’s 21 covered companies preannounced fourth-quarter 2017 results, and all but one (NuVasive) beat consensus revenue estimates. Needham builds its market models with a bottom-up approach by using its estimates for companies the firm covers and consensus estimates for companies it does not cover.
Cardiovascular Growth Trends
Matson said he expects cardiovascular market growth improved to 5.5% on a constant currency basis in 4Q17 compared to 5.5% in the previous quarter. Broken down further, the analyst modeled cardiac rhythm management (CRM) market growth of 1%, drug-eluting stent (DES) market growth of 2%, peripheral vascular market growth of 5%, transcatheter aortic valve replacement (TAVR) market growth of 20%, electrophysiology market growth of 13%, and neuromodulation growth of 9%.
Growth trends for the full year followed a similar pattern, with 5.9% growth in 2017 across the cardiovascular market, according to Matson’s report. That includes CRM market growth of 3%, DES market growth of 1%, peripheral vascular market growth of 5%, TAVR market growth of 25%, electrophysiology market growth of 13%, and 10% growth in the neuromodulation market.
Read About the Other 3 at the Source: 3 Medtech Markets That Are Showing Growth | MDDI Online
Amanda Pedersen is Qmed’s news editor. Contact her at email@example.com.