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SmartTRAK Life Sciences News and Analysis Blog

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Spotlight on Medtronic Neuromodulation: NANS 2023

2/10/23 11:40 AM

NANS 2020 Medtronic V2Medtronic executives Nnamdi Njoku and Charlie Covert discuss Medtronic’s latest initiatives in Neuromodulation in an interview with SmartTRAK at NANS 2023

Nnamdi Njoku, Medtronic’s Senior Vice President and President Neuromodulation, and Charlie Covert, Vice President and General Manager of Pain Therapies, discuss what’s new for Medtronic Neuromodulation, expected market growth in 2023 and strategies for driving growth in spinal cord stimulation (SCS) and deep brain stimulation (DBS) in an interview with SmartTRAK at the North American Neuromodulation Society (NANS) 26th Annual Meeting held January 12-15, 2023 in Las Vegas, Nevada.

To find out more about the Company’s latest innovations, expanding indications and what’s next for Medtronic Neuromodulation, click on the following video recorded live at NANS 2023. (27:57 minutes.) Specific interview topics by time code are outlined below. A link to download a complete transcript of the interview is also provided below.

Download the Interview Transcript

Interview Topics by Timecode:

00:34 What’s behind the slowdown in Medtronic’s revenue in FY23? Factors affecting YoY revenue, including currency fluctuations, value-based pricing, the lingering impact of the pandemic, supply chain disruptions and hospital constraints around staffing. Segments and geographic regions most affected, including China.

04:19 Expected market growth in 2023 and Medtronic’s strategies for driving growth in neuromodulation, including bringing new technologies to market and using market development approaches and innovation to reach more patients and articulate the value of the therapies.

05:32 Top news for Medtronic pain therapies at NANS 2023. Regulatory status of Inceptiv SCS, Medtronic’s ECAPs-based SCS system and FDA’s recent scrutiny on biocompatibility of implantable devices.

08:11 How Medtronic’s Vanta primary cell SCS has been doing in the market since its launch 1.5 years ago. Vanta’s battery life and Medtronic’s initiatives and research into extending battery life, including the DTM Endurance study.

10:42 Update on Medtronic’s Care Guide Pro. What’s new and what’s next regarding the Company’s digital initiatives for SCS.

12:12 Growing the market through expanded indications, the SCS market opportunity in diabetic peripheral neuropathy (DPN). Medtronic’s strategies in capturing share and driving growth in DPN. Medtronic’s projected double-digit growth in DPN over the next five years.

15:00 Initiatives in upper limb and neck and nonsurgical refractory back pain, and increasing access to expanded indications through reimbursement. Medtronic’s forecast for growth in the SCS market.

17:52 Percept DBS, bringing the rechargeable Percept DBS to market, and making the leap to closed loop. Medtronic’s partnership with Rune Labs, collecting patient data and making progress toward data-enabled therapy.

20:51 Medtronic’s leadership position in DBS and capturing share with Percept PC. Percept’s battery life and the dynamic around rechargeable devices eventually slowing DBS market growth. Medtronic’s DBS business in China, competing against local players and the Company’s plans for remote DBS programming.

25:39 What’s next for Medtronic Neuromodulation?

To download and read the complete "NANS 2023: Spotlight on Medtronic Neuromodulation" interview with Nnamdi Njoku and Charlie Covert,  just click the button below.  Download the Interview Transcript

SmartTRAK is the Medtech industry’s only global Insights-as-a-Service solution for the Orthopedics, Wound Care, Regenerative Medicine and Neuro Therapy markets. SmartTRAK’s propriety methodology turns disparate data from hundreds of sources into powerful insights customers can rely on as the trusted source for strategic decision-making. The SmartTRAK enterprise platform includes rich daily updates, comprehensive market coverage and simple-to-use tools and dashboards for market, product and financial analysis. Customers leveraging the SmartTRAK platform also have direct access to market experts for inquiries and advisory services. If you would like a demo of what SmartTRAK has to offer and see how we can help increase proficiency, improve productivity and reduce costs for your company, just click here.

Anne Staylor
Written by Anne Staylor

Former Senior Editor, Medtech Insight. +25 years in various leadership roles in business intelligence, marketing, communications, product management, and consulting for medical device industry, hospitals, physician groups, insurers. Registered nurse and former Director of Marketing for a national ambulatory surgery company.

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