Philips' (PHG) New Innovation to Boost Neurovascular Diagnosis
Koninklijke Philips PHG recently announced the launch of its new Azurion neuro biplane system, which is likely to be a major improvement to its Image Guided Therapy System.
With this new system, patients with stroke or other neurovascular illnesses can confidently receive a diagnosis, picture guidance, and therapy assessment. This new interventional system has improved 2D and 3D imaging and flexible X-ray detector positioning to enable care teams to treat more patients, make better judgments more quickly, and improve neurovascular operations.
Price Performance
For the past six months, PHG’s shares have lost 8.6% against the industry’s rise of 8.9%. The S&P 500 increased 14.6% in the same time frame.
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Azurion Neuro Biplane System
Interventional systems such as Azurion provide minimally invasive operations that play a crucial role in stroke diagnosis and treatment, where every minute matters in preserving the patient's quality of life. Philips’ Azurion neuro biplane system improves staff and patient satisfaction while lowering healthcare costs by enabling neuro interventionists to treat patients more effectively and maybe with better results.
The new image-guided therapy system from Philips is intended to streamline and improve procedure workflows in situations where a precise diagnosis and treatment plan require a combination of 2D and 3D imaging.
When combined with the most recent Neuro Suite software and services from the business, it offers neuro interventionists a fully integrated solution that combines the cutting-edge low-dose imaging technology from Philips with a variety of neuro-specific tools and value-added services to deliver previously unattainable levels of efficiency, flexibility, and control.
The Azurion neuro biplane system has several new features that allow for faster switching between 2D and 3D imaging, such as enhanced C-arm rotation, angulation (imaging angles), and parking facilities; complete table-side control that removes the need to exit the sterile field; automatic beam rotation to obtain correctly oriented images for every angulation and rotation; and a new head immobilizer to support enhanced stroke care.
Industry Prospects
Per a report by Precedence Research, the global stroke diagnostic and therapeutic market was estimated at $36.1 billion in 2023 and is expected to reach more than $71.9 billion by 2032 at a growth rate of 8.0%.
The rising number of patients at risk of developing stroke, along with increased patient awareness and healthcare expenditure, are some of the crucial factors accountable for market growth.
With the given market potential for stroke diagnostics, Philips is likely to boost its business with its latest Azurion Neuro Biplane System, which aims to improve stroke diagnosis and provide superior patient care.
Notable Developments
Philips recently announced the introduction of its new imaging technology, LumiGuide, powered by Fiber Optic RealShape (FORS) technology. LumiGuide uses light instead of X-ray to enable doctors to navigate through blood vessels.
This latest innovation has the potential to provide numerous benefits for complex aortic procedures. It is likely to be more effective and efficient compared to X-ray imaging as X-ray only produces 2D black and white images along with harmful radiations.
The company also announced the FDA 510(k) clearance for its latest X11-4t Mini 3D TEE transducer, designed to serve more patients with improved overall comfort. This latest innovation has the potential to remove anesthetic during shorter heart procedures and is likely to serve a broader spectrum of patients ranging from pediatric to older adults.
In December 2023, Philips announced three new ultra-lightweight magnetic resonance Smart Fit coils, namely Smart Fit TorsoCardiac 1.5T, Smart Fit 1.5T shoulder and Smart Fit Knee 3.0T at RSNA 2023.
All three coils enhance flexibility, reduce patient setup time, and improve image quality resolution with SmartSpeed AI solution.
Koninklijke Philips N.V. Price
Koninklijke Philips N.V. price | Koninklijke Philips N.V. Quote
Zacks Rank & Stocks to Consider
PHG carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space that have announced quarterly results are Cencora, Inc. COR, Elevance Health, Inc. ELV and Cardinal Health, Inc. CAH.
Cencora, carrying a Zacks Rank of 2 (Buy), reported first-quarter fiscal 2024 adjusted earnings per share (EPS) of $3.28, beating the Zacks Consensus Estimate by 14.7%. Revenues of $72.25 billion outpaced the consensus mark by 5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Cencora has a long-term estimated growth rate of 8.6%. COR’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 6.7%.
Elevance Health reported fourth-quarter 2023 adjusted EPS of $5.62, beating the Zacks Consensus Estimate by 1.3%. Revenues of $42.45 billion outpaced the consensus mark by 1.5%. It currently carries a Zacks Rank #2.
Elevance Health has a long-term estimated growth rate of 12%. ELV’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 3.1%.
Cardinal Health reported second-quarter fiscal 2024 adjusted EPS of $1.82, beating the Zacks Consensus Estimate by 16.7%. Revenues of $57.45 billion surpassed the Zacks Consensus Estimate by 1.1%. It currently carries a Zacks Rank #2.
Cardinal Health has a long-term estimated growth rate of 15.9%. CAH’s earnings surpassed estimates in all the trailing four quarters, the average surprise being 15.6%.
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