Smith & Nephew plc SNN remains focused on expanding its business by launching new products associated with soft tissue repair. Recently, the company announced the launch of its Q-FIX All-Suture Anchor, a month after having rolled out its SUTUREFIX Ultra soft suture anchor.
The newly launched Q-FIX All-Suture Anchor has been specially designed for rotator cuff repair and labrum repair. While the anchor’s small size enhances its operating flexibility and accessibility for physicians, the Q-FIX uses a radially expanding implant that gets fully deployed within the bone every single time.
The anchor, which can be used for both shoulder and hips, is available in 1.8mm (single loaded) as well as 2.8mm (double loaded) sizes with related disposable and reusable instruments.
The SUTUREFIX Ultra soft suture anchor, on the other hand, allows surgeons to tweak their repairs with the help of additional anchors and fixation points. The anchor, supported by its 1.7mm x 20mm twist drill, causes lesser erosion of bones as compared to usual fixation anchors.
Each SUTUREFIX Ultra anchor is reportedly pre-loaded on ULTRABRAID high-strength sutures. This particular implant, made of DURABRAID, does not leave any hard materials behind after the process is completed.
These new product roll-outs are expected to help Smith & Nephew gain better market traction in the fast growing orthopedic soft tissue repair market. According to a new report by Transparency Market Research, this market is estimated to reach a value of $8.5 billion by 2019, growing at a compounded annual growth rate (CAGR) of 7.2% over 2013–2019.
However, quite a few similar products are currently available in the market, like Arthrex’s Pushlock knotless soft tissue repair anchor and the GRYPHON PROKNOT Anchors from the DePuy Synthes Companies of Johnson & Johnson.
Hence, the new products from Smith & Nephew are expected to face stiff competition from these well-established players. Nevertheless, we believe that the easy-to-use technology of these new products will attract surgeons. Increasing adoption will eventually to lead to market share, which will boost top-line, going forward.
Zacks Rank
Currently, Smith & Nephew has a Zacks Rank #2 (Buy). Other favorably-placed stocks in the medical sector are SurModics SRDX, Abaxis ABAX and Capricor Therapeutics CAPR. While SurModics sports a Zacks Rank #1 (Strong Buy), Abaxis and Capricor Therapeutics hold a Zacks Rank #2 (Buy).
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