CORAL GABLES, FL / ACCESSWIRE / January 3, 2018 / The medical technology industry saw a big boost in 2017, and as 2018 is underway, many Wall Street analysts continue to remain bullish. Last year was a positive year for the MedTech space, despite rising interest rates. This year, however, the industry-wide fundamentals "are strong, and sector revenue growth could re-accelerate from 4.4 percent last year to 5.1 percent in the new year," as stated by JPMorgan's Michael Weinstein.
Furthermore, consumer confidence is at a 17-year high and the unemployment rate is still near 10-year lows, which could garner a perfect storm for medical technology companies assuming that much of the foreign money spent on research and development could begin to funnel back into North America's market after recent moves in politics. Plenty of market professionals are right in line with this same sentiment heading into the first quarter of the new year. Active companies in the medical technology industry include: Lexington Biosciences, Inc. (OTCQB: LXGTF) and InspireMD, Inc. (NYSE American: NSPR)
Lexington Biosciences, Inc. ("LXGTF") has begun to progress toward upcoming pilot clinical studies for its HeartSentry device. The studies will be designed to gather the baseline data to support FDA clearance. Furthermore, in response to recent announcements that the company would be engaging Nagicant Consulting to help develop coverage policies to support HeartSentry's commercial rollout, Lexington's President Eric Willis said, "As recently announced, we are moving ahead quickly towards the commencement of our HeartSentry pilot clinical research study designed to build the foundational dataset ultimately aimed at supporting FDA clearance. As we plan for market entry, we know that a key element to commercial success will come from fielding a product that meets the threshold for medical insurance coverage."
The company's HeartSentry core technology was developed at the University of California Berkeley over a fifteen-year R&D period. The device itself is designed to measure and monitor cardiovascular health by assessing the function of a person's vascular endothelium. Read about this and more news for Lexington Biosciences (OTCQB: LXGTF) by clicking HERE.
In other industry developments to note:
InspireMD, Inc. (NYSE American: NSPR) announced that it has received regulatory approval for the CGuard™ Embolic Prevention System in India. In conjunction with this, InspireMD has also signed Hester Diagnostics Pvt. Ltd. as its exclusive distributor in India. Hester itself works with many of the leading medical device companies in the United States, India, Europe, and Japan.
"The approval of CGuard™ EPS in India marks another commercial milestone as we continue to expand our global footprint," said Agustin Gago, EVP and Chief Commercial Officer of InspireMD. "We are excited to partner with Hester Diagnostics, which brings an impressive track record launching medical devices in India and to the key clinical specialties that treat carotid artery disease."
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