Yahoo Finance Philips' (PHG) Zenition 30 to Boost Image-Guided Surgeries
Koninklijke Philips PHG recently announced the receipt of FDA 510(k) approval for its Zenition 30 mobile C-arm. The approval is likely to make image-guided surgical procedures available to more patients at a lower cost in the United States.
The new Zenition 30 delivers a special mix of personalized control and image clarity to improve the speed and accuracy of decision-making for a variety of clinical procedures at an affordable cost. It is based on the company’s Zenition platform's demonstrated simplicity of use and workflow efficiency.
Price Performance
Over the past six months, PHG’s shares have gained 9.6% compared with the industry’s rise of 14.7%. The S&P 500 increased 17.8% in the same time frame.
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More on Zenition 30
Zenition 30 reduces surgeons' reliance on support staff by providing them with more customization, control, and flexibility over C-arm movement and user settings. This helps address staff shortages that restrict patient access and increase waiting periods. The Zenition 30 also solves the financial issues that affect present hospital systems by lowering the number of support personnel needed during procedures.
Surgeons can treat more patients while also spending more time focusing on each patient because of the intuitive C-arm control provided by the patient table. This results in an improved experience for both people and patients.
With its cutting-edge imaging algorithms, customized user profiles, and flat detector technology from Philips, the Zenition 30 offers excellent dosage efficiency and image quality. Additionally, it has automatic workflow customization that adapts to each surgeon's preferred configuration and style of operation as soon as they log in. Less manual correction means more first-time-right images and more seamless processes.
The Zenition 30 not only provides quick setup and protocol selection, but it also gives surgeons much more control over where the C-arm is positioned during surgery. This is because the flat detector's easily accessible pushbuttons enable surgeons to unlock and modify the arm's rotational, orbital, and horizontal positioning from inside the sterile field.
Industry Prospects
Per a report by Precedence Research, the global image guided surgery devices market size was valued at $6.8 billion in 2022 and is expected to reach more than $17.2 billion by 2032 at a growth rate of 9.8%.
The need for less intrusive operations, the aging population, and advancements in imaging technology are the main factors driving the industry. The market is expanding because of increased efforts being made to treat cancer and the growing prevalence of chronic diseases like cancer.
Given the market potential, Philips’ Zenition 30 mobile C-arm is likely to boost the company’s business and generate additional revenues.
Notable Developments
Philips partnered with smartQare to integrate the latter’s viQtor solution into its clinical patient monitoring platforms. This partnership aims to improve continuous patient monitoring in and out of hospitals by enabling open communication between sensors and systems, making data and decision support accessible via user-friendly platforms.
Philips and SyntheticMR recently announced the launch of Smart Quant Neuro 3D, which is likely to be a significant development in the objective decision support field for the diagnosis and treatment evaluation of brain illnesses such as dementia, traumatic brain injury, and multiple sclerosis.
In March, Philips announced an extended partnership with Amazon Web Services (AWS) in response to the expanding demand for cloud-based, secure, scalable digital pathology solutions.
The company also announced the launch of its new Azurion neuro biplane system, which is likely to be a major improvement in its Image Guided Therapy System.
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 #4 (Sell) at present.
Some better-ranked stocks in the broader medical space are DaVita Inc. DVA, Cardinal Health, Inc. CAH and Cencora, Inc. COR.
DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 58.3% compared with the industry’s 18.9% rise in the past year.
Cardinal Health, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has gained 51.9% compared with the industry’s 3.2% rise in the past year.
Cencora, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.
Cencora’s shares have rallied 51.5% compared with the industry’s 3.6% rise in the past year.
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Koninklijke Philips N.V. (PHG) : Free Stock Analysis Report
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