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SmartTRAK Life Sciences News and Analysis Blog

3 min read

ISASS: Approaching 25 Years of Advancing Techniques and Technologies for Treating Spinal Disorders

By Kris Jacques on 5/14/24 9:45 AM

ISASS’s Morgan Lorio, MD, president-elect, discusses the obstacles to adopting emerging technologies in spine surgery and the importance of advocating for policy changes to support innovative treatments and improve patient outcomes in an interview with SmartTRAK.

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3 min read

Three Global Spine Robotics Start-ups to Watch in 2024

By Shelly Caruso on 4/23/24 9:45 AM

SmartTRAK highlights three innovative start-ups with next-gen spine robots in development: Cyber Surgery, LEM Surgical and SpinEM Robotics.

The landscape of spine robotics has undergone a remarkable transformation in recent years, with advancements in technology revolutionizing the approach to spinal surgeries. As we step into 2024, there’s a race in the Spine Enabling Technology Market among companies to develop state-of-the-art robotic systems. The demand for minimally invasive spinal surgeries has been a driving force in the evolution of spine-enabling technologies. 

In this article, available for download, SmartTRAK explores in detail three innovative start-ups with next-gen spine solutions in development. They are:

  • Cyber Surgery: A Modular System to Improve Minimally Invasive Spine Surgery
    Cyber Surgery, a Spain-based healthcare technology startup specializing in medical robotics, is developing ALAYA, a robotic navigation system that uses internally developed haptic technology, which Cyber Surgery says is more precise and user-friendly than optical navigation systems. The company touts the system as ... (read more)

  • LEM Surgical: A Unique Multi-armed Approach to Spine Robotics
    Founded in 2021 and based in Bern, Switzerland, LEM Surgical takes a unique approach to spine robotics. Although LEM Surgical has held its robotic project, Sapien, in stealth mode, the company is looking toward ... (read more)

  • SpinEM Robotics: A Tracking Solution for Precision in Robotic Spine Surgery
    SpinEM was founded in 2021 and is headquartered in France. The company is supported by local industrial partners and a start-up factory in Grenoble. In January 2024, Haventure, an international accelerator for digital surgery and robotics start-ups, announced that ... (read more)

As Cyber Surgery, LEM Surgical and SpinEM Robotics pave the way for next-gen spine robotics, the market is poised for a significant transformation. These companies bring a unique set of capabilities, from AI-enhanced surgical planning to modular adaptability and a focus on minimally invasive techniques. The potential impact on the market is ...

Click the button below to download and read the complete Market Outlook article "Three Global Spine Robotics Start-ups to Watch in 2024" by Shelly Caruso, SmartTRAK Market Analyst/Associate Editor.Read the Article

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3 min read

Spine Market Movers to Watch in 2024

By Kris Jacques on 4/9/24 9:30 AM

SmartTRAK highlights companies to watch as they continue their double-digit growth train with multiple catalysts for expansion in 2024.

Overall, the US Spine Market had a remarkable year in 2023 with the completion of the Globus/NuVasive (GMED) merger creating a new #2 in Spine, displacing the incumbent DePuy Synthes (JNJ). SmartTRAK estimates the US Spine Hardware Market grew ~5.5% in 2023. However, many pure-play spine companies exceeded industry growth with exceptional, double-digit growth rates in 2023, while others approached the $100MM revenue milestone. In this article, SmartTRAK highlights five pure-play spine companies to watch and the catalysts driving their expansion in 2024.
 

Continued Double-Digit Growth in 2024

SmartTRAK  expects three spine companies to see continued double-digit growth in 2024, particularly based on competitive moats developing and the ability to execute in their respective purviews, They are:
  • Alphatec Spine: Expanding Its Competitive Moat in Lateral Procedures
    • Alphatec has grown double digits yearly over the last five years. ATEC is now the #1 pure-play Spine Market leader and #5 in the overall Spine Market. These market share gains can be attributed to ... (read more)
  • SI-Bone: Competition Will Test the SI Fusion Market Leader in 2024
    • SI-Bone has grown double digits over the past three years. SIBN is the market leader in minimally invasive spine (MIS) SI Fusion with over 55% market share in the SI Fusion Market and more than ... (read more)
  • Centinel Spine: Fastest Growing Spine Company in 2023
    • In 2023, Centinel Spine was the fastest-growing spine company in one of the fastest-growing areas in spine, motion preservation. Centinel Spine reported record worldwide total disc replacement (TDR) revenue of nearly ... (read more)

Companies Closing in on $100MM in 2024

Both Spinal Elements and Xtant Medical came close to reaching the $100MM revenue mark in 2023 and SmartTRAK expects both to reach that lofty milestone in 2024. 

  • Spinal Elements: Focus on MIS Innovation, the Aging Spine and ASCs
    • Spinal Elements was just shy of $100MM in revenues in 2023. The company is focused on some of the fastest-growing trends in spine including ... (read more)
  • Xtant Medical:  Integrated Hardware, Biologics and More Acquisitions
    • Xtant Medical (XTNT) is also closing in on the $100MM revenue mark, growing +54.5% over 2022. XTNT had an exciting year of acquisition activity, including ... (read more)

To download the complete "Spine Market Movers to Watch in 2024" article by SmartTRAK's  Kris Jacques, please just click the button below. Read the Article

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3 min read

Highlights in Sports Medicine and Arthroscopy from AAOS 2024

By Andy Knapik on 3/26/24 9:30 AM

SmartTRAK highlights key trends and happenings in sports medicine and arthroscopy at AAOS 2024.

The American Academy of Orthopaedic Surgeons (AAOS) convened this year in San Francisco, California, from February 12-16. Following several years of subdued participation due to the COVID-19 pandemic, last year's strong showing at AAOS in Las Vegas fostered expectations for a continuation of momentum this year. Despite lower-than-projected attendance from medical professionals, the event featured a robust presence of large and small companies presenting their products and services. So, what was the buzz at the meeting?

In this Perspective article, which can be downloaded here, SmartTRAK highlights key takeaways from AAOS for companies competing in the Sports Medicine Market, including the following topics:

  • Continued Interest in Biologic-driven Soft Tissue Fixation
    Companies are still helping drive soft tissue fixation sales through the use of biologics, which now are key advancements in technology at the forefront of sports medicine surgical procedures. Smith+Nephew continues to drive its Sports Medicine business with ... (read more)

  • Ongoing Focus on the ASC Market
    Companies at AAOS had a prominent focus on the Ambulatory Surgery Center (ASC) Market. According to the SmartTRAK US Ortho ASC Market Overview, as of 2022, there were over ... (read more)

  • Developments in Arthroscopic Technologies
    Another common theme on display across the AAOS 2024 exhibit floor was the showcasing of surgical video technologies. All the big players in sports medicine had their video systems on display, and some notable systems stood out. Stryker highlighted its newest ... (read more)

To download and read the complete "Highlights in Sports Medicine and Arthroscopy from AAOS 2024" Perspective article by Andy Knapik, SmartTRAK Senior Analyst, Soft Tissue Fixation and Arthroscopic Enabling Technologies, just click the button below. Read the Article

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8 min read

SmartTRAK Insights from the 2024 AAOS/CG Musculoskeletal Conferences

By Elise Wolf on 3/15/24 9:30 AM

SmartTRAK experts across orthopedics, sports medicine, spine and enabling technology attended this year’s 2024 Canaccord Genuity Musculoskeletal and American Academy of Orthopedic Surgeons (AAOS) annual conferences. Held from February 12-15 in San Francisco, CA, these gatherings brought together the top minds in the industry. In this post, we share some key insights and updates gleaned from these conferences, offering a glimpse into the latest trends and innovations shaping the future of orthopedic and musculoskeletal care.

  • MARKET

Maxx Orthopedics*
SmartTRAK
learned at AAOS 2024 that Maxx Medical is going on the offensive to grow its joint replacement business in the US and that the Company plans to launch new hip and knee products in 2024.

Paragon 28*
At AAOS 2024, Paragon 28 noted that its supply chain issues have resolved and does not expect a headwind this year. As a result, Needham believes the company can return to ~20% revenue growth in 2024.

restor3d*
Restor3d reported it currently has 157 active distribution partners calling on ~22,965 orthopedic surgeons and ~18,000 podiatrists. Management noted surgeons will bring difficult cases and from there restor3d can create additional sales opportunities. CG 2024 Musculoskeletal Conference

  • REVENUES

BONESUPPORT*
BONESUPPORT highlighted the continued strength of Cerament G in North America with approximate revenues of $17.0MM in Q323 since launching in June 2023. CG 2024 Musculoskeletal Conference

OrthAlign*
At AAOS 2024, SmartTRAK learned that OrthAlign’s 2023 revenue was up +25% to $51MM, led by strong adoption of its Lantern next-generation handheld navigation system and increasing use of the Balance gap balancing feature on Lantern Knee. The company noted +37% growth in the ASC setting.

Find out how to receive SmartTRAK Daily Updates in your morning email

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2 min read

Total Joints Market 2024: Trends to Watch

By Lisa Mahan on 1/23/24 9:30 AM

Forces likely to influence the Total Joints Market in 2024

Final Q423 US Total Joints Market results are expected to solidify above pre-COVID growth rates for 2023. The post-pandemic patient backlog sustained strong market performance in 2023 despite tough comparisons and a challenging economic environment with rising inflation and the threat of a recession looming over healthcare consumers. What will the future hold? In this article, SmartTRAK looks at some of the trends to watch in 2024, including:

  • Mixed Predictions Regarding Patient Backlog
    Several Companies including Zimmer Biomet are banking on the backlog of patients to continue boosting procedure growth through 2024. Wall Street analysts, however, are more tempered in their forward-looking projections.
  • US Economic Factors Buoying Consumer Confidence
    The demand for health care is typically more resilient in the face of weaker economic conditions. However, improvements in some economic conditions in the US during 2024 are expected to buoy consumer confidence.
  • Ongoing Shift to Outpatient Site-of-Care Despite Reimbursement Decline
    Eligible patients are continuing to choose joint replacement surgery in an outpatient or ambulatory surgery center (ASC) setting in increasing numbers. New ASCs springing up around the country are giving potential patients expanded site-of-care options.
  • Ongoing Influence of ASC Economics
    ASCs facing lower reimbursement rates compared to hospital outpatient and inpatient settings will continue to look for product solutions that improve efficiency and reduce the overall cost of care.
  • New Product Launches to Watch
    New and early-stage hip and knee product launches for both large and mid-tier Joint Replacement Market players will drive revenue growth.

Just click the button below to download and read the complete "Total Joints 2024 Trends to Watch" market outlook article and analysis by Lisa Mahan, SmartTRAK's VP Product Development & IT, Sr. Analyst TJ&E. Read the Article
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 offers and how we can help increase proficiency, improve productivity and reduce costs for your company, just click here.
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2 min read

Sports Medicine and Extremities Start-Ups to Watch

By Sharon O'Reilly on 1/3/24 9:30 AM

SmartTRAK highlights start-ups developing innovative products for joint resurfacing, soft tissue fixation, ligament and tendon augmentation at the 2023 MNVC.

Sports medicine and extremities were prominent themes at the 21st Annual Musculoskeletal New Ventures Conference (MNVC) held in Memphis in November 2023. Approximately one-third of the 38 presenting companies debuted new and innovative technologies for treating sports-related injuries of the knee, shoulder, hand, foot & ankle ranging from soft tissue fixation, ligament and tendon augmentation and cartilage resurfacing. Now that investment in robotics and surgical navigation craze has peaked, major orthopedic manufacturers are directing research and development (R&D) dollars toward restoring joint function using biological approaches and a variety of less invasive techniques. 

Among the topics covered in this market outlook article are:

  • Promising Knee and Shoulder Start-Ups
  • Extremity Fixation: An Emerging Market
  • Resurgence in Joint Resurfacing

A fertile ground for strategic negotiations and deal-making, several of the major players have broadened their range of products through strategic tuck-in acquisitions in the past year. Also, several start-ups are targeting the multi-billion dollar Soft Tissue Fixation market.  This landscape reflects a dynamic and competitive environment where established players seek to strengthen their positions through ...

To download and read the complete "Sports Medicine and Extremities Start-Ups to Watch" market outlook article by Sharon O'Reilly, SmartTRAK's Founder and CEO, just click the button below. Read the Article

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2 min read

SmartTRAK Experts Take the Stage at MNVC 2023

By Thomas Wallick on 11/14/23 9:30 AM

SmartTRAK's Elise Wolf, Vice President and General Manager of Orthopedics, Digital and Quality, along with Beth Roach, Director, Data Strategy, will be discussing new trends in Ambulatory Surgical Centers (ASC) and effective targeting strategies at the 2023 Musculoskeletal New Ventures Conference (MNVC) on Nov 14-15 at the FedEx Institute of Technology in Memphis, TN. They will also delve into a detailed case study on ASC builds. Their presentation is titled "Targeting the ASC: Essential Knowledge for Orthopedic Companies." Make sure you don’t miss out on Elise and Beth's expert insights!

Topics: Orthopedics
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3 min read

Anika's Expanding Shoulder Preservation Solutions

By Lisa Mahan on 10/31/23 9:33 AM

Anika’s President and CEO Cheryl Blanchard, Ph.D., discusses the Company’s expanding portfolio of shoulder preservation solutions

Anika Therapeutics entered the Reverse Shoulder Market this year with the US market release of the RevoMotion Reverse Shoulder Arthroplasty System, expanding their complement of products for shoulder joint preservation and replacement. This new offering allows the Company to compete in the rapidly growing US Market for Reverse Shoulders. Lisa Mahan, SmartTRAK Senior Analyst Total Joints & Extremities, talked with Cheryl Blanchard, PhD, President and CEO of Anika, to discuss the launch of RevoMotion, along with the X-Twist Fixation System, Integrity Patch System, Cingal next generation OA injectable and Tactoset Injectable Bone Substitute.
 
The Interview
 

SmartTRAK: RevoMotion has been out almost nine months now in limited release and you just went to full market release. Congratulations. How is that going?

Cheryl Blanchard: Thank you! Anika announced the full market release of the RevoMotion Reverse Shoulder Arthroplasty System (RSA) during the 2023 Orthopaedic Summit (OSET) Annual Meeting September 20-23 in Boston, MA and the response has been overwhelmingly positive.

We began the limited launch in January 2023 and have performed over 100 cases since then. The feedback we received and the response during the limited market release was impressive as some of the first patients in have already returned to their surgeons and asked for the same implant to be placed in their other shoulder. To have patients far enough into recovery to want the RevoMotion RSA in their other shoulder says a lot about the system and its future success. The limited release allowed us to collect feedback to better optimize the instrumentation and surgical technique for the full market release as well. Though we finished gathering feedback months ago, manufacturing instrument sets and system components takes time. That brought us right to our full market release during OSET in September.

We know that the reverse shoulder market is a crowded space. Given that probably 80% of the market is reverse shoulders, for Anika we knew we had something incredible to offer clinicians and patients based on the historic Arthrosurface design philosophies focused on bone sparing, motion preservation and anatomic design features. We also knew that with the data-backed and trusted OVOMotion with Inlay Glenoid Total Shoulder Arthroplasty System, it would be difficult to penetrate the full shoulder arthroplasty market without having a reverse option.

Additionally, there is a big shift of a lot of these products and procedures into the ASC setting. We will possibly see even more products coming into the ASC when CMS changes how they reimburse and we realized that there was a real opportunity to provide optimized instrument trays that would reduce the operating room footprint. RevoMotion has a two-tray instrumentation system that is very streamlined. The surgical technique is also very streamlined. We're hearing great feedback on it and we're excited to be in full market release coming into the fourth quarter.

That's wonderful. You mentioned the instrument trays and some of the design. If there was one thing that differentiates RevoMotion from other reverse shoulders on the market, what would you say that is?

CB:We believe and continue to hear feedback from surgeon users that having the smallest threaded glenoid base plate on the market is one of the biggest differentiators. Personally, I didn't understand the true significance of that until I started to speak directly with surgeons who had used the system. Listening to real-time feedback and observing in the OR, you realize it's a major benefit as it provides...

To download and read the complete transcript of the interview with Anika’s President & CEO Cheryl Blanchard conducted by Lisa Mahan, VP Product Development & IT, Sr. Analyst TJ&E, just click the button below. Download the Transcript

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4 min read

SmartTRAK Announces Software Advancements & Launches Insights Reports for Emerging Orthopedic/Spine and Wound Medtech Markets

By Gabriele Nichols on 10/18/23 10:15 AM

New SaaS technology offering delivers competitive advantage in rapidly changing Ambulatory Surgery Center market.

SmartTRAK, the leading global Medtech business and market software intelligence solution in the Orthopedics, Wound Care, Regenerative Medicine and Neuro Therapy markets, announces the release of enhanced software products and strategic reports available for purchase in Q4 to help clients position themselves for growth in 2024 and beyond.

Powered by industry experts and data analysts, SmartTRAK's Insights-as-a-Service platform is the Medtech industry's only "all-in-one" solution that delivers market insights and business intelligence via an intuitive SaaS platform. Designed to reduce the redundancies in market research, SmartTRAK compiles and curates insights from hundreds of disparate information sources into its highly valued SmartTRAK Daily Updates, comprehensive market overviews and simple-to-use tools and dashboards for market, product and financial analysis.

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