Strengthening its focus in image-guided volumetric intensity modulated radiotherapy to cancer patients, Varian Medical Systems Inc. (NYSE:VAR) recently announced that it has initiated treatment with its recently introduced Halcyon System. Treatment was provided at Penn Medicine to a patient suffering from head and neck cancer.
Notably, treatment using the Halcyon platform was cost effective and was of short duration. The system has been ergonomically designed to provide a user-friendly platform for clinical staff and patients.
Halcyon Unit at a Glance
Varian Medical has been taking initiatives to gain customers for its broad spectrum of products. The company unveiled the Halcyon radiotherapy treatment system at the ASTRO conference in Vienna in the third quarter.
The Halcyon radiotherapy treatment system has been designed to offer cost-effective cancer care worldwide. Halcyon received both 510(k) clearance and CE Mark from the European directive, allowing Varian Medical to start selling the system in the United States.
Per management, regulatory clearances from China and Japan should follow within the next year. During the quarter, Varian Medical booked several orders from countries like Australia, Belgium, India, Morocco, Romania, Russia, Turkey and the U.K.
Market Prospects
Strong revenue opportunity from its Oncology and Imaging Component products, growing adoption of Proton Therapy, strong overseas presence, particularly in emerging countries, and new partnership deals are positives for Varian Medical.
Data from Markets And Markets reveals that the global radiotherapy market is projected to reach a worth of $9.47 billion by 2022, at a CAGR of 6.8%. Meanwhile, other important stocks from the broader medical sector are Zimmer Biomet Holdings (NYSE:ZBH) , Abiomed Inc. (NASDAQ:ABMD) and Intuitive Surgical (NASDAQ:ISRG) .
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Varian Medical Systems, Inc. (VAR): Free Stock Analysis Report
Intuitive Surgical, Inc. (ISRG): Free Stock Analysis Report
ABIOMED, Inc. (ABMD): Free Stock Analysis Report
Zimmer Biomet Holdings, Inc. (ZBH): Free Stock Analysis Report
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