Hologic (NASDAQ:HOLX), Inc. HOLX recently announced the addition of improved features to its Brevera Breast Biopsy System with CorLumina Imaging Technology. Notably, the system was launched in 2017 and has been designed for use with Hologic’s Affirm Prone biopsy guidance system.
Per the company, the Brevera system is the world’s first and only breast biopsy solution which combines vacuum-assisted tissue acquisition, real-time imaging verification and advanced post-biopsy handling in a single integrated system.
With these latest improvements, Hologic aims to strengthen its Breast Health business on a global scale.
Significance of the Updates
The Brevera system, post the introduction of updates, now features new functionality, simplified storage and improved waste management. The system streamlines the entire biopsy process and the integrated features have the potential to enhance patient experience and workflow.
The new updates feature a reusable device driver and disposable needles to simplify storage and improve waste management. It also includes improvements which allow radiologists and technologists to better separate and verify target samples automatically, then transfer it seamlessly to pathology with minimal handling to help maintain core integrity.
Per management, the improvements made on the biopsy system will aid in the system’s ability to enhance workflow, increase accuracy and improve the overall patient experience.
Industry Prospects
Per a report by Allied Market Research, the global breast biopsy market was valued at $976.7 million in 2016 and is projected to reach at $1,420 million by 2023 at a CAGR of 5.3%. Factors like growing incidence of breast cancer, rising demand for less-invasive breast biopsies and increasing awareness about breast cancer screening are likely to drive the market.
Given the market potential, the latest improvements are likely to boost Hologic’s imaging business significantly.
Recent Developments in Breast Health
Hologic, in July, announced the U.S. launch of the SuperSonic MACH 40 ultrasound system, which supports superior image quality. The product launch expands the company’s portfolio of ultrasound technologies with its first premium cart-based system.
Price Performance
Shares of the company have gained 22.3% in the past year compared with the industry and S&P 500’s 20.9% and 20.2% growth, respectively.
Zacks Rank & Other Key Picks
Currently, Hologic carries a Zacks Rank #1 (Strong Buy).
A few other top-ranked stocks from the broader medical space include QIAGEN N.V. QGEN, Thermo Fisher Scientific Inc (NYSE:TMO). TMO and West Pharmaceutical Services (NYSE:WST), Inc. WST.
QIAGEN’s long-term earnings growth rate is estimated at 22.3%. It currently flaunts a Zacks Rank #1. You can see the complete list of today’s Zacks #1 Rank stocks here.
Thermo Fisher’s long-term earnings growth rate is estimated at 15%. It currently carries a Zacks Rank #2 (Buy).
West Pharmaceutical’s long-term earnings growth rate is estimated at 17.4%. The company presently carries a Zacks Rank #2.
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Hologic, Inc. (HOLX): Free Stock Analysis Report
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