Masimo Corporation MASI recently announced an opioid withdrawal solution — Bridge — that utilizes neuromodulation for reducing symptoms related to opioid withdrawal. Equipped with an FDA De Novo classification, Bridge is the first evidence-based, drug-free, non-surgical device of its kind. With this product, Masimo strengthens its already robust product portfolio further.
Notably, opioid use, which includes prescription opioids and heroin, results in death of many people in the United States every year. In 2018 (the most recent year of data availability) around 47,000 deaths involved opioids, of which approximately 15,000 involved prescription opioids.
Significance of Masimo Bridge
It is important to mention here that opioid withdrawal is often followed by painful and sometimes severe flu-like symptoms that can last for up to two weeks. This makes voluntary discontinuation by opioid users a really long and challenging process. Moreover, out of more than two million people suffering from opioid-use disorder (OUD) in the United States, less than 20% are getting treatment.
Bridge can help patients with OUD successfully transition away from opioids into an appropriate treatment program and safely address this disorder through the reduction of withdrawal symptoms.
With respect to clinical testing, Bridge was successful in reducing opioid withdrawal symptoms within 15-30 minutes and offer continued relief for as long as it was applied. The duration can be up to 120 hours per device, thereby allowing opioids to leave the body.
With the help of Bridge opioid withdrawal symptoms can be effectively reduced, thereby marking an important first step toward successful illicit opioid cessation and treatment.
In June, Masimo announced that Centroid — a wearable, wireless patient orientation, activity, and respiration rate sensor — has been cleared by the FDA. Notably, this clearance will aid the company in fortifying its Root Patient Monitoring and Connectivity platform.
In the same month, the company introduced — Masimo Sleep — a new health and wellness home monitoring solution, which has been developed to enable consumers to understand their quality of sleep efficiently. This new solution is likely to strengthen the company’s product portfolio further. Notably, this solution is not FDA 510 (k) approved and is available as a general wellness product.
Per a report by Medgadget, the global OUD market size is estimated to reach $4.5 billion by 2026, witnessing a CAGR of 10.8% during the forecast period (2019-2026). Rising addiction to opioids globally will primarily be driving the market’s growth. Hence, this Masimo’s new solution is a well-timed one.
Over the past year, shares of this Zacks Rank #3 (Hold) company have surged 52.3% compared with the industry’s growth of 3%.
Stocks to Consider
Some better-ranked stocks from the broader medical space include West Pharmaceutical Services, Inc. WST, Quest Diagnostics Incorporated DGX and Laboratory Corporation of America Holdings LH. While Quest Diagnostics sports a Zacks Rank #1 (Strong Buy), West Pharmaceutical and Laboratory Corporation carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
West Pharmaceutical has a projected long-term earnings growth rate of 9.2%.
Quest Diagnostics has an estimated long-term earnings growth rate of 7.6%.
Laboratory Corporation has an estimated long-term earnings growth rate of 6.1%.
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Quest Diagnostics Incorporated (DGX) : Free Stock Analysis Report
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