Merit Medical Systems, Inc. MMSI announced the launch of a new evacuated drainage bottle — Aspira Bottle — for use with its Aspira Drainage System.
The Aspira Drainage System is indicated for use in individuals for drainage of recurrent and symptomatic pleural effusions (fluid buildup outside the lungs) and malignant ascites (fluid buildup in the abdomen due to cancer). The system can be used to provide a compassionate home treatment option for end-stage cancer patients. These critical patients commonly require frequent in-hospital drainage but with Aspira Drainage System, the drainage can be done at home. Water Bottle Sprayer
The addition of Aspira Bottle broadens Merit Medical’s already wide range of intervention products, solutions and accessories which include ReSolve line, thoracostomy, thoracentesis, and paracentesis trays and sets as well as bags and other support products, apart from the Aspira System.
Shares of Merit Medical have declined 8.3% year to date against the industry’s 12.3% growth. The S&P 500 has witnessed 18.2% growth in the said time frame.
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Merit Medical believes that Aspira Bottle will improve patient care. The bottle, when used with the Aspira Drainage System, can provide the compassionate option to self-treat in the comfort of home. Per the company, the advanced design of the bottle offers convenience with its ease-of-use and requires 23% less storage space than the leading drainage bottle on the market.
The Aspira Bottle also allows patients to control the speed of drainage that will help minimize discomfort and pain associated with high vacuum pressure drainage.
The convenient, compassionate use at home and lower storage space are likely to drive demand for this new drainage product. The companies providing at-home care services as well as retail patients will likely be the key customers for this product.
Per a report by Grand View Reasearch, the global drainage bottles market was valued at $434.6 million in 2020 and is anticipated to witness a CAGR of 6% from 2021 to 2028. Factors like the rise in number of accidents and rising prevalence of diseases such as uremia, cardiovascular diseases, diabetes, cancer and deep vein thrombosis are expected to drive the market.
Given the market potential, the launch of easy-to-use Aspira Bottle is likely to provide a boost to Merit Medical’s portable drainage business.
Merit Medical Systems, Inc. price | Merit Medical Systems, Inc. Quote
Merit Medical currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader medical space are Align Technology ALGN, HealthEquity, Inc. HQY and McKesson Corporation MCK.
Align Technology, carrying a Zacks Rank #2 (Buy) at present, has an estimated long-term growth rate of 17.5%. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
ALGN’s earnings surpassed estimates in two of the trailing four quarters and missed twice, delivering an average negative surprise of 1.76%. The company’s shares have risen 75.3% year to date compared with the industry’s 12.3% growth.
HealthEquity, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 22%. HQY’s earnings surpassed estimates in three of the trailing four quarters and missed once, delivering an average surprise of 9.1%.
The company’s shares have rallied 12.5% year to date against the industry’s 10.2% decline.
McKesson, carrying a Zacks Rank #2 at present, has an estimated long-term growth rate of 10.7%. MCK’s earnings surpassed estimates in three of the trailing four quarters and missed once, delivering an average surprise of 8.1%.
The stock has rallied 9.6% year to date compared with the industry’s 12.3% growth.
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