The BD interventional segment contributes close to one-fifth of the company's total revenue. Like DexCom, Tandem Diabetes Care focuses squarely on the diabetes market. These large players in some cases compete against each other. Copyright, Trademark and Patent Information, Medical devices focusing on cardiovascular, neuromodulation, and diabetes care; diagnostics; nutritional products; pharmaceuticals, Medical devices focusing on cardiovascular, diabetes care, minimally invasive therapies, and restorative therapies, Medical devices focusing on orthopedics, medical-surgical, and neurotechnology and spine, Medical devices focusing on medication delivery and management, diabetes care, diagnostic systems, surgery, peripheral intervention, and urology, Medical devices focusing on cardiovascular, medical-surgical, electrophysiology, and neuromodulation, Medical devices focusing on medication delivery, renal care, and surgery; pharmaceuticals, Medical devices focusing on heart valves and advanced monitoring. BD operates three business segments: BD medical, BD life sciences, and BD interventional. It focuses on developing and marketing neurosurgical, neurovascular, and spinal implant devices. However, there are still quite a few stocks that should be long-term winners and have a decent shot at delivering nice gains this year. Here are some key highlights for each of these big medical device stocks. 1. Targeted access to domestic medical device stocks 3. When evaluating a medical device stock, research how its products compare to that of its competitors. There are three primary things you should evaluate before buying a medical device stock: 1. These products include Edwards' transcatheter valve repair systems. Tandem has a big growth opportunity in the U.S. Strong revenue and earnings growth has been a common theme in Align's quarterly updates, although its earnings growth trajectory has slowed somewhat recently. All medical devices in the U.S. are regulated by the FDA. Around 27% of BD's total revenue stems from its BD life sciences segment. Medtronic. Conformis (NASDAQ:CFMS) Market cap: US$112 million; current share price: US$1.63; year-to-date gain: 359.66 percent. This segment's products include a broad lineup of medical devices for rhythm management, electrophysiology, heart failure, and vascular and structural heart devices, plus neuromodulation devices for the management of chronic pain and movement disorders. Becton, Dickinson and Company (BD) ranks relatively high on the 2019 list of top medical device stocks thanks in large part to its 2017 acquisition of C.R. Cumulative Growth of a $10,000 Investment in Stock Advisor, Five of these large medical device stocks. As a result, they must raise the capital needed to fund operations, typically through either borrowing money or by issuing new shares -- both of which can have negative consequences. Medical device companies develop medical devices and surgical instruments to diagnose, treat, or prevent various medical conditions. Phase 3 trials follow phase 2 trials, and are the ultimate stage of clinical trials for new drugs or medical devices. The company thinks that it will be able to increase the number of Americans with diabetes who use insulin pumps from around 550,000 to 900,000. Cumulative Growth of a $10,000 Investment in Stock Advisor, the company's Q4 earnings conference call, long-term demographic trend of aging global populations, Copyright, Trademark and Patent Information, Clear dental aligners, intraoral scanners, Continuous glucose monitoring (CGM) systems. Stryker. Some medical devices can have a small total addressable market or a market that is already saturated with little room for additional growth. These companies are organized into three business segments: medical devices, consumer, and pharmaceuticals. But the fastest sales growth is coming from Edwards' surgical structural heart products. More than half of the roughly 100 largest medical device companies in the world saw their stock prices increase during 2018. ET by Tomi Kilgore Inari Medical's stock indicated … Outside of the U.S., Abiomed has penetrated 17% of the total addressable market in Germany and 1% in Japan. This segment markets medical devices including grafts, angioplasty balloon catheters, stents, and urinary catheters. The company's NovaSeq system, introduced in 2017, continues to drive much of Illumina's growth as existing HiSeq customers convert to the system and new customers begin performing genomic sequencing. DexCom has plenty of room to grow by focusing on its core patient population in the U.S. of 3.2 million individuals who require continuous glucose monitoring. Each of the 10 largest medical device companies develops complex products that require approval by the FDA in the U.S. and by other countries' regulatory agencies. 4. 5 Top NASDAQ Medical Device Stocks of 2019. On the other hand, medical devices that use advanced technology often have little competition, can be very expensive, and in turn generate high profit margins. DeviceStock provides medical device companies with the tools to efficiently track boot and consignment stock. As you might expect with such a wide range of products, the medical device industry is big. Financial position 2. This wide diversity is reflected in the U.S. Food and Drug Administration's (FDA) definition of a medical device, which includes any "instrument, apparatus, implement, machine, contrivance, implant, in vitro reagent, or other similar or related article, including a component part, or accessory" that is used in diagnosing, curing, preventing, or treating a disease and isn't a pharmaceutical drug. Its top products include immunology drugs Remicade and Stelara and cancer drugs Darzalex, Imbruvica, and Zytiga. Despite these risks, the future appears to be bright for the medical device industry -- and particularly for companies with high-tech medical devices. Boston Scientific currently ranks at No. Investing in any stock involves risks. Covid-19 lockdowns caused a big drop in surgical procedures, as patients put off elective surgery. Align pioneered the use of clear aligners for straightening teeth. However, Edwards focuses on four key product groups: transcatheter aortic valve replacement (TAVR), surgical structural heart, critical care, and transcatheter mitral and tricuspid therapies. 3 Medical Device Stocks to Buy Right Now. The company has four reportable business segments: established pharmaceutical products, diagnostic products, nutritional products, and cardiovascular and neuromodulation products. Its MRIdian solution integrates MRI technology, radiation delivery and proprietary software to simultaneously image and treat cancer patients. The company's diagnostic products and nutritional products segments jockey for position as the second-largest contributor to the top line. TORONTO, Oct. 21, 2020 /PRNewswire-PRWeb/ -- Today's pharmaceutical and medical device companies are facing rising pressure from healthcare communities with patients needing more personalized care, consumers and policy makers pushing to lower healthcare costs, the drive to reduce time and costs to bring new products to market, and complying with increasingly onerous regulations. Products marketed by these units include parenteral nutrition therapies, medical devices used in surgical procedures, and continual renal replacement therapies. The company launched its flagship da Vinci system in 1999. But for many medical device stocks, 2018 was a fantastic year, with at least a dozen medical device stocks racking up gains of more than 25%. In addition to the da Vinci system, Intuitive also now has another robotic surgical system on the market. Story continues This includes Medical segments, consisting primarily of equipment used to clean and process devices used in endoscopy procedures. J&J is a holding company that operates more than 260 companies across the world. This segment sells a wide lineup of products including intravenous (IV) catheters, syringes and needles, infusion pumps, and medication dispensing systems. Edwards Lifesciences' (EW, $173.14) is among the more specialized medical devices stocks. Intuitive Surgical enjoys a couple of significant competitive advantages. That's a strategy that has worked over the last five years. Global Pre-Owned Medical Devices Market to Reach $6. Medical device company stocks are not looking as rosy as they did two months ago, but the medtech industry still appears to be resisting the overall downward trend in stock markets, according to a Medical Design & Outsourcing analysis. Returns as of 12/09/2020. Several of the companies also could be hurt if global trade issues aren't resolved. Tyler has done very with small-cap medical device stocks in Cabot Small-Cap Confidential, so he was intrigued to learn about a revenue-generating company that s trying to become the first Regulation A+ company to launch an IPO on the New York Stock Exchange. 1 spot. Let's conquer your financial goals together...faster. The FDA requires clinical testing to demonstrate safety and effectiveness for medical devices that carry the most risk for patients. This segment primarily markets implants used in hip and knee joint replacements and trauma and extremities surgeries. Like Johnson & Johnson, Abbott Laboratories isn't focused only on medical devices. The health care industry is a growing industry. When it comes to medical device stocks, those risks are likely to take on certain attributes. The medical device industry should benefit from aging demographic trends for years to come. Johnson & Johnson. Revenue has more than tripled since 2014. Some devices that pose little risk to patients only have to be registered with the FDA without the requirement for a review. Simple medical devices such as surgical supplies tend to compete primarily on price and typically have low profit margins. More than 6 million procedures have been performed using the da Vinci, with around 1 million of those procedures occurring just last year. Issuing new shares dilutes the value of existing shares. 7 on the list of the top 10 medical device stocks, but its acquisition of United Kingdom-based medical device maker BTG could bump the company into the No. DexCom's latest CGM system, the G6, enjoys several competitive advantages over rival products. The top medical device stocks for 2019 illustrate the diversity of the medical device industry, with products as simple as clear plastic aligners for straightening teeth to robotic-assisted surgical systems. The company's technology played an important role in helping reduce the cost of mapping a human genome (the complete set of genes) from $200,000 in 2009 to less than $1,000 today. Returns as of 12/09/2020. Medical device makers that make cardiovascular and diabetes care products could especially benefit from this trend. Five of these large medical device stocks more than doubled the return of the popular index. But can Intuitive Surgical continue to generate strong growth? But these stocks have two key things in common. ... Medtronic plc, a healthcare solutions company, provides medical … For companies that aren't yet profitable, the amount of cash available is directly related to how long it will be before additional capital must be raised through debt or issuing new shares. The former markets products including surgical staples and meshes used in hernia repair, while the latter markets products such as bone grafts and robotic surgical systems added with the 2018 acquisition of Mazor Robotics. Market data powered by FactSet and Web Financial Group. Two of these large medical device stocks stand out as particularly promising investing candidates: Illumina and Intuitive Surgical. The U.S. Food and Drug Administration (FDA) defines a medical device in broad terms. Abbott has enjoyed especially strong growth in the diagnostics products segment thanks in large part to acquisitions. This filing shows the FDA that the medical device is at least as safe and effective as an already-approved product that didn't require more extensive approval. Companies that make medical devices. But while its medical devices segment contributes around one-third of Johnson & Johnson's total revenue, the company's biggest segment in terms of sales and revenue growth is its pharmaceuticals business. As a result, they must raise the capital needed to fund operations, typically through either borrowing money or by issuing new shares -- both of which can have negative co… This unit primarily focuses on peritoneal dialysis and hemodialysis products. Others specialize in niche markets. I’ve done very with small-cap medical device stocks in Cabot Small-Cap Confidential, so I was intrigued to learn about a revenue-generating company that’s trying to become the first Regulation A+ company to launch an IPO on the New York Stock Exchange.. While there are other insulin pumps on the market, Tandem's newest product, the t:slim X2, has several competitive advantages. The 10 biggest medical device makers, on the other hand, all have thousands of employees and make billions of dollars in revenue annually. There are around 5,500 medical device companies in the U.S. alone, making products that range from artificial joints to bedpans to robotic surgical systems. Tandem also is targeting another 3 million people with type 1 diabetes who live outside the U.S. Edwards Lifesciences' (EW, $173.14) is among the more specialized medical devices stocks. Abbott Laboratories. In particular, U.S.-China trade tensions could present challenges for medical device companies that either already have a presence in China or hope to establish operations there. With a definition that expansive in scope, you'd expect that there would be a lot of companies making medical devices. It also is the smallest insulin pump on the market, which makes it more convenient for users to wear. And think medical devices. About this page + Medical device manufacturers are companies that design and supply pharmaceuticals, medical tools, surgical supplies and related products. The pharmaceuticals segment generates roughly half of J&J's total revenue. DexCom also has plenty of cash on hand, reporting cash, cash equivalents, and marketable securities totaling nearly $1.4 billion as of Dec. 31, 2018. Theranos (/ ˈ θ ɛr ə n oʊ s /) was a privately held health technology corporation. The global high-tech medical device market is projected to grow at a CAGR of 29.2% through 2026 to reach $252 billion, according to Research and Markets. The company also has an even more advanced product on the way -- the G7. 1. Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics. Beyond the aging populations across the world, there's also likely to be a significant increase in chronic conditions among individuals who aren't as old. Stock Advisor launched in February of 2002. Some of these medical device companies are large and very profitable. Illumina is the leading maker of genomic sequencing systems. Medical Distributors Stocks The medical distributors sector includes companies that sell medical products on a wholesale basis to hospitals, doctors. 3. Examples of medical devices include pacemakers, artificial joints, … Also, because many of these large medical device makers generate significant revenue in international markets, particularly China, trade barriers or the threat of such barriers can hurt these stocks. Also, Intuitive Surgical is investing heavily in research and development. This is the largest segment, accounting for 54% of the company… The medsurg segment sells endoscopy products as well as urology and pelvic health products. What are the Top Medical Device Companies in the World in 2020? Another key component of a medical device maker's financial position is its available cash, including cash equivalents and short-term investments. Many of the products developed by the largest medical device makers potentially pose safety risks to patients. You might look back at 2018 as a dismal year for stocks. 22, 2020 at 12:14 p.m. All market caps as of July 15, 2019. Other devices that involve moderate levels of risk require premarket notifications to be reviewed by the FDA. 4 Million by 2027. The regulatory process for Class III devices is more involved. The company celebrated its 100,000th patient in the fourth quarter of 2018. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. The agency places a medical device into one of three classes: The regulatory hurdles that a medical device company must clear depends on the class its medical device is assigned to. 2. G6 is the only system that meets all of the FDA's integrated CGM special controls for accuracy in determining glucose levels. The company also sells iTero intraoral scanners that dental professionals use to create 3D images of patients' teeth, which are then used to development Invisalign treatment plans. The company has three business segments: medsurg, rhythm and neuro, and cardiovascular. Over the long term, competitive advantages will matter even more than a company's current financial position. Many up-and-coming medical device makers don't yet have profitable operations. This system is used to obtain tissue from within the lung for analysis to determine if a person has lung cancer. Competitive advantages 3. The company reached profitability in 2018 and appears likely to keep the earnings flowing. Medtronic's minimally invasive therapies group and its restorative therapies group each generate a little more than one-quarter of the company's total revenue. An aging population translates to more cases of chronic disease and a greater demand for all types of medical devices. DexCom CEO Kevin Sayer said in the company's Q4 conference call that the G7 is on track to launch in late 2020 or early 2021. Founded in 1993 by brothers Tom and David Gardner, The Motley Fool helps millions of people attain financial freedom through our website, podcasts, books, newspaper column, radio show, and premium investing services. Like stocks in nearly every industry, these medical device stocks could be pulled down by macroeconomic issues such as an economic recession. Biolife Solutions (NASDAQ: BLFS) 4. The system also integrates with leading insulin pumps, smart insulin pens, and insulin patch pumps. See you at the top! Data sources: Yahoo! Stryker's orthopedics segment isn't too far behind, contributing 37% of total revenue. Exposure to U.S. companies that manufacture and distribute medical devices 2. First of the best health care stocks to buy for 2020 is DaVita, a $10 billion Denver-based company with a network of more than 2,700 outpatient dialysis centers. What are the biggest medical device stocks in 2019? Only 6% of them achieve their desired outcomes, presenting a large potential opportunity for DexCom. Since then, Intuitive Surgical has rolled out four generations of da Vinci robotic surgical systems. 5. The company's medical device segment makes most of its revenue from surgical products, with growth fueled primarily by wound care and advanced sterilization products. Illumina should deliver strong growth as demand for genomic sequencing expands, especially in the areas of cancer diagnostics and treatment. This definition includes any "instrument, apparatus, implement, machine, contrivance, implant, in vitro reagent, or other similar or related article, including a component part, or accessory" that is used in diagnosing, curing, preventing, or treating a disease. Sales have soared for DexCom, with an impressive CAGR of 44% from 2011 through 2018. At the bottom is the transcatheter mitral and tricuspid therapies product group, which adds less than 1% of total revenue. Stryker is another company that makes all of its revenue from medical devices. Class I devices usually only require registering with the FDA, and there's no approval process. Think big. The company's medication delivery products include IV therapies and infusion pumps, while its pharmaceuticals products include cancer drugs and anesthesia products. The Sapien 3 heart valve has been a huge hit for Edwards. Intuitive's revenue jumped nearly 19% last year to $3.7 billion, while earnings soared 68% year over year to more than $1.1 billion. the biggest stock in the entire healthcare sector. Baxter's other four GBUs combined pull in nearly one-quarter of the company's total revenue. But medical device makers should see business—and their stocks—pick back up. Small-Cap MedTech Stock #2: ViewRay (VRAY) ViewRay is a $332 million market cap company that makes MRI-guided radiation therapy systems that are used for imaging and treating cancer patients. Insulet Corp.: Insulet is a medical device company.It develops and manufactures an insulin infusion system for people with insulin-dependent diabetes. Just a few get by through only registering with the FDA, while most require the filing of a 510(k) notification. About this page + Healthcare suppliers manufacture products for hospitals, medical institutions, clinical laboratories and the pharmaceutical industry. But based solely on sales of medical devices, the stock holds the No. Like Intuitive Surgical, Illumina claims a high level of recurring revenue. 3/4/15 1:08PM One key reason for considering buying these large medical device stocks is the worldwide aging demographic trend. Check out the potential markets for a medical device stock before buying to make sure that there's plenty of room for long-term growth. Medical devices sold by this segment include blood collection systems, blood culturing systems, and molecular testing systems. The cardiovascular segment contributed nearly 39% of Boston Scientific's total revenue in 2018. 1. Even though Align has been tremendously successful, there remains a huge untapped market. As a result, these companies face product liability risks if patients are harmed in any way by the use of their medical devices. Align Technology's flagship product is the Invisalign clear dental aligner. The competitive dynamics for these companies vary greatly depending on the type of product they make. The company reported cash of around $450 million in its latest quarterly update and the company has zero debt. Medical devices focusing on orthopedic, surgical, cardiovascular, neurovascular, diabetes care, and eye health markets; pharmaceuticals; consumer healthcare. The company's latest system, ION, enables lung biopsy using minimally invasive robotic technology. Many up-and-coming medical device makers don't yet have profitable operations. SAN FRANCISCO, Dec. 7, 2020 /PRNewswire/ -- ValGenesis, Inc., a market leader in Enterprise Validation Lifecycle Management Systems (VLMS), announced that a global medical devices company … Danaher has historically been one of the medical device stocks to weather economic downturns exceptionally well. And you'd be right. Another medical device with fast-growing sales that isn't included in any of Abbott's segments is the FreeStyle Libre continuous glucose monitoring (CGM) system. The company's total value doesn't change when more shares are issued, so dividing that value into more shares makes each share worth less. Are you an investor looking for stocks that beat the S&P 500 index? Many surgical procedures still have way too many complications resulting from differences in the skill of surgeons. Abiomed, Align Technology, DexCom, Intuitive Surgical, and Tandem Diabetes Care should be in great shape to succeed in 2019 and beyond. Intuitive Surgical should also be a long-term winner as more minimally invasive procedures are performed using robotic surgical systems. The company continues to be highly profitable and has amassed a cash stockpile of $744.5 million, including cash, cash equivalents, and marketable securities. Around 25,000 of its Impella heart pumps are implanted in patients annually. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. First, it has a large base of customers who are motivated to maximize their return on investment with da Vinci rather than look for a new system. Many of them are still in the development stage and have no consistent revenue. TAVR is by far the biggest moneymaker for Edwards Lifesciences, contributing roughly 60% of total revenue. All of this has put Abiomed in an enviable financial position. Intuitive Surgical focuses on developing and marketing robotic surgical systems for use in minimally invasive surgery. How? The company makes more than 70% of its total revenue from recurring sources. Boston Scientific's other two segments each bring in around 31% of total revenue. Here are five top medical devices stocks to consider buying in 2019: Data sources: Yahoo! As more individuals age, the need for many of the medical devices made by these companies will increase. Since 2014, 8 of the 10 biggest medical devices have outperformed the S&P 500. But the company is also organized into seven global business units (GBUs): The renal care GBU generates roughly one-third of Baxter's total revenue. Intuitive Surgical's business model is changing in that a larger percentage of its customers are choosing to lease robotic surgical systems rather than buy them. Here's what you need to know about the top medical device stocks for 2019. For one thing, it integrates with DexCom's G6 CGM system. There are three primary things you need to know about the medical device industry: The medical device industry ranges from very low-tech products like surgical gloves to very high-tech products, including artificial heart valves. Finance, company regulatory filings. That's the kind of competitive advantage that investors love. When a company takes on additional debt, its interest expenses increase. It seems likely. Becton, Dickinson and Company. Illumina's sequencing systems range from high-throughput products like HiSeq to small desktop systems such as iSeq. The company launched its ION system after receiving FDA clearance in February 2019. Edwards Lifesciences' critical care product group brings in around 18% of total sales. The stock table is sorted in a descending order by market capitalization and the fund table is sorted in a descending order by net assets. Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics. However, over 70% of these companies have fewer than 20 employees. Abiomed focuses on medical devices for treating cardiovascular diseases. Market data powered by FactSet and Web Financial Group. The company continues to develop new products to treat more serious cases of malocclusion (misalignment of teeth). It has only penetrated 11% of that market so far but expects to capture all of it. They all have solid competitive advantages. DexCom focuses on developing and marketing continuous glucose monitoring (CGM) systems for individuals with diabetes. Medical-surgical products sold by the segment include surgical equipment and navigation systems, endoscopic systems, patient handling systems, and emergency medical equipment. Overall, the global medical device market is projected to grow by a compound annual growth rate (CAGR) of 4.5% through 2023 to $409.5 billion, according to market researcher Lucintel. This CGM system will be fully disposable and cost-effective for patients and payers. It's the first CGM that doesn't not require any finger sticks -- a huge plus for patients with diabetes. The most important thing to understand about the medical device industry is probably its product diversity. Class III medical devices can only be marketed after receiving FDA approval. The other companies are also likely to see stiffer competition in the future. There's no way to know whether medical device stocks will perform as well in 2019 as they did last year. Bard. It was initially touted as a breakthrough technology company, with claims of having devised blood tests that required only very small amounts of blood and could be performed very rapidly using small automated devices the company had developed. Tandem's sales have been growing at a phenomenal rate, jumping 71% in 2018. As a result of the FDA's broad definition, the medical device industry is huge, with at least 32,000 medical device companies based in the U.S. and Europe alone. For profitable companies, the cash stockpile is important in providing flexibility for expanding through acquisitions or other business development deals. With new products on the way to treat more difficult cases, Align should be able to expand its addressable market significantly as well. 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