Neptune Waste Management reported CAGR (compounded annual growth rate) of 31% in 2014 since its acquisition in 2000. This is a product designed to automatically collect liquids during surgical procedures using a closed suction system and dispose them at the end of the procedure instead of manually handling the liquid waste.
In 2012, Stryker had to recall two of the Neptune models that were not cleared for marketing by the US FDA (Food and Drug Administration). In 2013, the company relaunched the product with the aim to capture lost market share and expand the disposable base business. In 2014, Neptune, which forms part of Stryker’s instrument division, demonstrated a remarkable growth of around 13% and continue to drive the MedSurg business.
Also, with the changing business models in the medical device industry, Stryker’s products such as the SurgiCount Safety-sponge system, which prevents foreign objects to be retained in the patient’s body after surgery, will drive long-term value by providing safety, improved outcomes, and economic value.
View more information: https://marketrealist.com/2015/12/breaking-strykers-medsurg-segment/