Boston Scientific Corporation BSX has moved a step ahead with its Electrophysiology business on the latest positive outcome related to the company’s LUMINIZE RF (Radiofrequency) Balloon Catheter. Recently, during a late-breaking clinical trial session at EHRA (European Heart Rhythm Association) 2019,the company announced favourable data from the AF-FICIENT I study.
This upside is expected to help the company progress with the procedures pertaining to achieving a CE Mark for its LUMINIZE RF Balloon Catheter.
The AF-FICIENT study is a prospective, non-randomized, multi-center evaluation that has enrolled 100 patients with symptoms of paroxysmal or intermittent AF (Atrial fibrillation). Data from this global studydemonstrated encouraging safety and efficacy results from the LUMINIZE RF Balloon Catheter for isolation of pulmonary veins (PV) when treating patients with AF.
The arrhythmia patients, especially those suffering Atrial fibrillation (AF) are traditionally treated with anti-arrhythmic drugs and cardiac ablation. Per Boston Scientific, the LUMINIZE RF Balloon Catheter will use RF energy, which claims to be the most common energy source for cardiac ablation procedures. This is useful to isolate the areas of the heart muscle responsible for arrhythmia.
LUMINIZE RF Balloon Catheter is a single-shot catheter that has integrated digital cameras for visual guidance, sensing electrodes to evaluate real-time vein isolation and customisable ablation electrodes.
EP Business at a Glance
Boston Scientific’s EP (Electrophysiology) business develops less-invasive medical technologies to diagnose and treat disorders of heart rate and rhythm. In the last reported quarter, revenues at this division improved 8% on the strength of Rhythmia HDx mapping platform.
Management continues to enhance the company’s catheter pipeline globally. Notably, the company’s two single shot platforms, Cryterion and Apama, are on track to be launched in Europe by this year end and begin enrollment in IDEs for the U.S. approval.
Boston Scientific’s strategy to boost its EP business seems to be aligned with the data provided by Allied Market Research. Per the report, the global Cardiac Monitoring and Cardiac Rhythm Management market is likely to see a CAGR of 7.6% during the 2016-2022 time frame, reaching a value of $32,216 million.
We believe, an unhealthy lifestyle and a rise in aging population will persist to induce a high incidence of cardiovascular diseases. This is further supported by GBI Research provided data. According to the report, the global cardiovascular disease market is anticipated to witness a 4.1% CAGR by 2019 and within this space, the U.S. market is projected to record the highest momentum at a CAGR of 4.7%.
Share Price Performance
Boston Scientific has been gaining investor confidence from consistent positive results. In the past six months, shares of the company have outperformed its industry. The stock has inched up 0.4% versus the industry’s 5.3% decline.
Zacks Rank & Key Picks
The stock carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader medical space are ABIOMED, Inc., ABMD, Varian Medical Systems, Inc. VAR and Masimo, Inc. MASI, each currently carrying a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ABIOMED’s long-term earnings growth rate is expected at 27.67%.
Varian’s long-term earnings growth rate is projected at 8.00%.
Masimo’s long-term earnings are predicted to grow 15.60%.
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