Shares in Nanosonics Screen As Undervalued
Nanosonics’ Trophon solution for high-level disinfection of ultrasound probes has garnered substantial market share, evidenced by penetration of over 75% in Australia and New Zealand and 40% in North America. We expect elevated growth over the next three years as Trophon continues to gain share in North America and launch in Japan, but high market penetration may be more challenging to achieve in developing economies, which may not be able to prioritize nuanced disinfection standards. Moreover, the device patent expires in 2025, leading to slower volume growth in the medium term.