Cerus (NASDAQ:CERS)

Market cap: $641.93 millionShare price: $6.20Cerus is one of the more interesting small cap medical device companies out there. The company is involved in developing and commercializing the INTERCEPT Blood System for blood safety. This system is intended to target blood-borne pathogens, including viruses like HIV, West Nile and hepatitis.Currently, the company has commercial rights for its INTERCEPT Blood System for platelets, plasma and red blood cells. The systems for plasma and platelets are being marketed and sold in the US, Europe, the Middle East and other regions, while the company’s red blood cell system is still in the development-stage. In the US, this area constitutes a large market. Therefore, Cerus’ efforts to fill a niche within this market should be appealing to some investors. 

Cardiovascular Systems (NASDAQ:CSII)

Market cap: $797.13 millionShare price: $23.89Cardiovascular Systems targets another one of the US’s largest markets for medical products: heart implants and devices. The company works to treat patients with peripheral and coronary vascular diseases by developing an orbital atherectomy technology for these diseases. Its peripheral arterial disease systems are a catheter-based platform that targets plaque types in leg arteries.Meanwhile, its coronary product, meanshipe, is a catheter-based platform that facilitates stent delivery in patients with coronary arterial disease. Other products produced by Cardiovascular Systems include the Stealth 360 degree Peripheral Orbital Atherectomy System, the Diamondback 360 Peripheral OAS and the Diamondback 360 4 French 1.25 Peripheral. 

ConforMIS Inc (NASDAQ:CFMS)

Market cap: $405.77 millionShare price: $9.75ConforMIS is focused on its iFit Image-to-Implant technology platform. The company uses this platform to develop, manufacture and sell joint replacement implants that have been customized to each patient’s size, shape and anatomy.For instance, ConforMIS offers a line of customized knee implants intended to restore the natural shape of a patient’s knee.There appears to be a decent sized market for these devices, as the company has sold over 30,000 knee implants in the US and Europe so far.ConforMIS distributes its products across the world, throughout the US, Germany, and the United Kingdom. Buyers typically include orthopedic surgeons, hospitals and other medical facilities. 

HeartWare International (NASDAQ:HTWR)

Market cap: $1.02 billionShare price: $57.98Heartware International is another one of the small medical device companies targeting the lucrative heart medical device market. The company develops and manufactures miniature implantable heart pumps (also known as ventricular assist devices) intended for patients suffering from advanced heart failure.The HeartWare Ventricular Assist System, which includes a blood pump, patient accessories and surgical tools, works to offer circulatory support for these patients with heart failure. The system is meant to be implanted adjacent to the heart, which avoids the necessity of abdominal surgery.To date, the company has gained 15.04 percent this year.