Varian Medical Systems, Inc. VAR recently announced that its ProBeam proton therapy system has received the CE Mark approval, which will allow the company to commercialize the product in the European markets.
Proton therapy is a cancer treatment which uses a beam of protons to treat unhealthy tissues. Varian’s ProBeam proton therapy system comes with Dynamic Peak scanning, which helps physicians in delivering treatment in a precise manner, without exposing the healthy tissues to radiation. The product also allows high-speed intensity modulated proton therapy (IMPT), which is the most precise form of proton therapy.
ProBeam proton therapy system is a significant addition to Varian’s expanding product portfolio. Last week, Varian announced FDA clearance as well as CE Mark for its VitalBeam platform. The VitalBeam system is a modular, high-throughput radiotherapy system which is incorporated into Varian’s TrueBeam radiotherapy system.
The global radiotherapy market is poised to grow significantly on the back of rising number of cancer patients and untapped opportunities in emerging countries. Rapidly changing cancer treatment technology and promising reimbursement plans also act as key growth drivers.
According to a report published by market research firm Mordor Intelligence, the global radiotherapy market is expected to reach a value of nearly $7 billion by the end of 2020. A favorable market trend, thus, presents significant growth opportunities for companies like Varian.
We believe the new products will help Varian achieve greater market penetration, which in turn, will help it to gain a strong foothold in the radiotherapy market. Strong U.S. dollar and intensifying competition in the Oncology market are major headwinds that may weigh upon the performance of this Zacks Rank #4 (Sell) stock.
Stocks to Consider
Better-ranked stocks in the medical sector are Masimo MASI, Mazor Robotics MZOR and NuVasive NUVA. All the stocks sport a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Be the first to comment