Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)
Lithium
44.03
(0.23%)
Gold
2,665.30
0.07%
Copper
4.34
(1.42%)
Oil
70.67
(1.17%)
Bitcoin
65,909.08
(0.23%)
FTSE 100
8,259.68
(0.4%)
Nikkei 225
39,910.55
(0.34%)
Dow Jones
43,065.22
0.62%
Iron Ore
106.40
(1.11%)
USD/AUD
0.67
(0.13%)
Hang Seng
20,318.79
(3.46%)

3 Best Medical Device Stocks for August 2024

The medical device market is booming. Valued at over $500 billion and projected to reach nearly $800 billion by 2030, this sector is fueled by the ever-growing demand for better healthcare. With so many companies vying for attention, how do you pick the best medical device stocks for your portfolio?

This article highlights three exciting Australian Securities Exchange (ASX) listed companies that are making waves in the medical device industry: OncoSil Medical (ASX: OSL), Nanosonics (ASX: NAN), and Cochlear (ASX: COH). Let's delve into what makes them stand out.

1. OncoSil Medical (ASX: OSL): A Targeted Approach to Pancreatic Cancer

OncoSil Medical is a global leader in interventional oncology, a field focused on minimally invasive cancer treatments. Their product, the OncoSil™ brachytherapy device, offers a revolutionary approach to fighting locally advanced unresectable pancreatic cancer— a particularly aggressive form with a poor prognosis.

What Makes The OncoSilâ„¢ Device Unique?

  • Targeted Beta Radiation: Unlike traditional radiation therapy, OncoSilâ„¢ delivers a precise dose of beta radiation directly into the tumour using Phosphorus-32 (32P) microparticles. This minimises harm to surrounding healthy tissues.
  • Breakthrough Designation: The device has received breakthrough designations in the European Union, the United Kingdom, and the United States. 
  • Early Commercialisation: While clinical trials are ongoing, OncoSilâ„¢ is already approved for sale in 30+ countries, with initial treatments underway in Europe, Turkiye and Israel.

Recent Positive Developments for OncoSil Medical

  • Institutional Investor Backing: The company secured a $2.7 million investment from a prominent Australian institution, Pengana Capital Limited, demonstrating growing confidence in their medical device.
  • Industry Veteran Joins the Team: Renowned investor Peter Hall, who previously backed successful medical device company Sirtex Medical, that sold for billions of dollars, will join OncoSil's board as a Non-Executive Director by the end of August. This move signals strong industry support for OncoSil's future.
  • Stock Price Surge: OncoSil Medical’s share price, $OSL, has skyrocketed over 170% since early June, reflecting investor enthusiasm for the company's potential.

2. Nanosonics (ASX: NAN): Keeping Hospitals Safe

Nanosonics tackles a critical but often overlooked aspect of healthcare: infection prevention. Their trophon EPR system uses automated ultrasound technology to disinfect reusable ultrasound probes, significantly reducing the risk of infections spreading between patients.

Why is Nanosonics a compelling investment?

  • Addressing a Critical Need: Hospital-acquired infections are a major concern, and Nanosonics' technology offers a proven solution to combat this issue.
  • Market Leader: Nanosonics is a dominant player in the ultrasound probe disinfection market, with a strong global presence.
  • Growth Potential: The increasing focus on hygiene in healthcare facilities suggests a growing market for Nanosonics' products.

Nanosonics' stock has shown robust performance, reflecting the company's solid business fundamentals and growth prospects. With the ongoing emphasis on infection control in healthcare, Nanosonics is well-positioned to benefit from this trend, making it an attractive investment option.

3. Cochlear (ASX: COH): A Hearing Hero

Cochlear is a household name in the world of hearing implants. Their innovative devices help people with severe hearing loss regain the ability to hear and connect with the world around them.

Cochlear's strengths:

  • Market Leader: Cochlear is a well-established industry leader, with a strong brand reputation and a significant market share.
  • Technological Innovation: The company is constantly developing new and improved hearing implant technologies, ensuring they stay ahead of the curve.
  • Sustainable Demand: Hearing loss is a prevalent condition, and the demand for Cochlear's products is expected to remain steady for years to come.

Cochlear has a strong track record of innovation and leadership in the hearing implant market. The company's products are widely recognised for their quality and effectiveness, making Cochlear a trusted brand among audiologists and patients alike. Cochlear continues to invest heavily in research and development to maintain its competitive edge and expand its product offerings.

The company's financial performance has been impressive, with consistent revenue growth and strong profitability. Cochlear's global reach and established reputation in the hearing implant industry make it a solid investment choice for those looking to tap into the growing demand for hearing solutions.

What are the 3 Best Medical Device Stocks for August 2024?

The medical device sector offers numerous opportunities for investors, with companies like OncoSil Medical, Nanosonics, and Cochlear leading the charge. These companies are well-positioned to capitalise on the increasing demand for medical devices driven by an ageing population and advancements in healthcare technology. As the global medical device market continues to grow, these stocks present compelling investment opportunities for August 2024 and beyond.


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