Stratasys (SSYS) & Siemens Team Up to Enhance Medical Imaging
Stratasys SSYS has announced a collaboration with Siemens SIEGY Healthineers for a significant research project aimed at creating innovative solutions to advance medical imaging phantoms for computed tomography (CT) imaging.
These specialized devices mimic human body characteristics, facilitating the evaluation of core metrics like radiation dose and image quality for consistent scanner performance. In a collaborative effort, Stratasys' PolyJet and RadioMatrix technologies, along with Siemens Healthineers' advanced algorithm, aim to translate patient images into specific material characteristics with human anatomy radiopacity.
This innovative solution enables customized phantom manufacturing, offering ultra-realistic human anatomy with precise radiographic accuracy of patient-specific pathology. The project aims to revolutionize medical phantom usage, potentially replacing human cadavers with 3D-printed structures for enhanced efficiency and reduced variability. The research will generate valuable data, driving advancements in CT system algorithms and materials development, and exploring new application areas to shape future research opportunities.
The initial focus involves 3D printing phantoms for smaller-scale head and neck anatomies, progressing toward larger and more complex structures, culminating in the production of a heart model and an entire human torso with complete radiographic accuracy in Phase One.
This partnership is set to boost Stratasys’s top-line performance in the upcoming quarters and establish a dominant position in the market.
The Zacks Consensus Estimate for SSYS’s 2023 revenues is pegged at $625.41 million, indicating a year-over-year decline of 4%. The consensus estimate for earnings is pegged at 20 cents per share, indicating year-over-year growth of 33.33%.
Stratasys, Ltd. Price and Consensus
Stratasys, Ltd. price-consensus-chart | Stratasys, Ltd. Quote
Stratasys Faces Tough Competition in the 3D Printing Market
According to a report by Grand View Research, the global 3D printing market size was valued at $16.75 billion in 2022 and is projected to witness a compound annual growth rate of 23.3% from 2023 to 2030.
The market for three-dimensional printing is anticipated to witness growth, propelled by intensive research and development efforts and increasing demand for prototyping applications across various industry sectors, including healthcare, automotive and aerospace & defense.
In industrial contexts, the application of 3D printing is commonly termed additive manufacturing, involving the incremental addition of material layer by layer to create a three-dimensional object. This process is executed by selecting a suitable 3D printing technology from the available options and implementing it based on specific requirements across diverse industry verticals.
Shares of SSYS, which currently carries a Zacks Rank #3 (Hold), have declined 3.9% year to date against the Zacks Computer and Technology sector’s rise of 45.7% due to tough competition in the 3D printing market from players like Nano Dimension NNDM and Altair Engineering ALTR.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Nano Dimension is a prominent player in the 3D printing stock market, recognized for its DragonFly IV 3D printer, specializing in additive electronics manufacturing. Despite its categorization, the stock has demonstrated a positive trajectory, signaling a promising outlook for the company.
Altair Engineering has established a strong presence in the 3D printing sector, particularly through its suite of simulation tools that have had a significant impact on the additive manufacturing process. Notably, its Inspire Print3D product has proven to be effective in streamlining product development and reducing manufacturing costs. The recent acquisition of Gen3D, a company specializing in design software and consultancy, has further bolstered Altair's capabilities in the 3D printing domain.
Stratasys has expanded its reach beyond hardware to encompass software and materials for polymer additive manufacturing. This diversification, combined with its on-demand 3D printing services, has propelled the company to position itself as a noteworthy contender in the industry.
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