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SmartTRAK Life Sciences News and Analysis Blog

3 min read

SMISS 2024 - MIS Spine Continues to Grow

By Erin Dorgan on 10/8/24 9:28 AM

SmartTRAK takes a look at trends impacting the MIS Spine market.

The seventeenth Society of Minimally Invasive Spine Surgery (SMISS) Annual Forum was held in Las Vegas, Nevada, from September 5 to 7. It is the only US-based spine meeting dedicated to minimally invasive surgery (MIS). At this year’s meeting, the presenters focused on “innovate, adapt and evolve.”
 

In this article, SmartTRAK highlights key presentations and the latest trends from SMISS 2024 affecting the Spine Market. This includes what challenges still exist for MIS transforaminal lumbar interbody fusion (TLIF) procedures, considerations for surgeons learning the prone transpsoas (PTP) approach, indication expansion opportunities for cervical disc replacement (CDR) and factors that could disrupt the market for spine surgeons. SmartTRAK estimates these trends will contribute to the US MIS market 5-year CAGR of +7.0% by 2028. 

The topics covered include:

  • New Technologies Help Advance MIS TLIF Procedures
    • SmartTRAK estimates that MIS posterior procedures will reach 88K in 2028E, and over half of the interbody procedures are ... (read more)
  • Lateral Lumbar Interbody Procedures Growing in Mid-Single Digits
    • One of the fastest growing segments of the MIS Spine Market is Lateral Lumbar Interbody Fusion, which SmartTRAK estimates is growing with a 5-year CAGR of ... (read more)
  • Cervical Disc Replacement Indications Poised to Expand
    • SmartTRAK estimates that the CDR market is one of the fastest growth markets in Spine, with a projected 5-year revenue ... (read more)
  • ‘Innovator’s Dilemma’ Could Disrupt the Spine Market for Surgeons
    • Concluding the meeting with his presidential address, Sheeraz Qureshi, MD, MBA, Co-Chief of Hospital of Special Surgery Spine and an Attending Orthopedic Surgeon at HSS, shared his vision of the future of the Spine Market with ... (read more)

Click the button below to download and read the complete "SMISS 2024 - MIS Spine Continues to Grow" perspective article by Erin Dorgan, SmartTRAK Sr Analyst, Spine and Orthobiologics.

Topics: Spine
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2 min read

Trends and Developments in Spine Enabling Technologies at NASS 2024

By Thomas Wallick on 9/24/24 9:36 AM

SmartTRAK is attending the upcoming North American Spine Society (NASS) meeting being held Sept. 25-28 in Chicago, Our team can't wait to see all of our colleagues at the premier meeting for the spine market. To help you get ready for the meeting, in the following video, Elise Wolf, SmartTRAK's VP & GM of Orthopedics and Digital, reviews the latest trends and developments in the Spine Enabling Technologies market.



If you would like to see more of what SmartTRAK has to offer in spine coverage, including some of our recent articles on the trends and developments in the Spine Enabling Technologies market, or if you would like to meet with us at NASS 2024 in Chicago,  just click the button below.

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2 min read

NASS 2024: Bone Replacement Developments to Know Before You Go

By Thomas Wallick on 9/23/24 1:35 PM

SmartTRAK is attending the upcoming North American Spine Society (NASS) meeting being held Sept. 25-28 in Chicago, and we can't wait to see all of our colleagues at the premier meeting for the spine market. To help you get ready for the meeting, Erin Dorgan, SmartTRAK Senior Analyst, Spine, has recorded this video update with an overview of the bone replacement products and companies to watch at NASS 2024.



If you would like to see more of what SmartTRAK has to offer in spine coverage and the bone replacement market, including some of our recent articles, or meet with us at NASS 2024,  just click the button below.

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2 min read

NASS 2024: What to Know Before You Go

By Thomas Wallick on 9/17/24 9:35 AM

SmartTRAK is attending the upcoming North American Spine Society (NASS) meeting being held Sept. 25-28 in Chicago, and we can't wait to see all of our colleagues at the premier meeting for the spine market. To help you get ready for the meeting, Erin Dorgan, SmartTRAK Senior Analyst, Spine, has recorded a video update with the trends, key players and innovations to know before the show.



If you would like to see more of what SmartTRAK has to offer in spine market coverage, including some of our recent articles, or meet with us at NASS 2024,  just click the button below.

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5 min read

ASPN 2024: SmartTRAK's Interview with Tim Deer, MD

By Anne Staylor on 7/16/24 8:41 PM

ASPN Chairman Tim Deer, MD, discusses the research and innovation at ASPN 2024 and the society’s collaborative approach to improving care for patients with chronic intractable pain in an interview with SmartTRAK.

Timothy R. Deer, MD, chairman of the American Society of Pain and Neuroscience (ASPN), discusses the society's goals, its rapid growth, and how ASPN is collaborating with different stakeholders to improve patient care and offer a wider range of new and innovative treatment options for patients with chronic intractable pain. To find out more, including what’s new in neuromodulation, minimally invasive spine and regenerative medicine, listen to the following video recorded live at the ASPN 2024 Annual Conference held July 11-14, 2024 in Miami Beach, FL. A link to download the complete transcript of the interview is also provided below. 


SmartTRAK: Anne Staylor here with SmartTRAK. I'm at the beautiful Fontainebleau Hotel in balmy Miami Beach, Florida at the American Society of Pain and Neuroscience Annual Conference. Today is the last day of the conference and I have the pleasure of talking with Dr. Tim Deer, the chairman of ASPN. Dr. Deer, thank you for talking with me today.

Dr. Tim Deer: Anne, thank you so much for having me. It's a great pleasure to talk to you and thank you for coming to our meeting.

Yes. Well, as you know, I think three years ago was the last time I was at your meeting, and I've had a colleague cover it who lives on the East Coast since then. Now I'm back covering the meeting and wow, has it grown exponentially since you and Dr. Sayed co-founded this meeting. I think this year, there's been a lot of energy and vibrancy around the content and in the exhibit hall and honestly, there's so much news for me to cover.

But before we get into the meeting, I thought it'd be a good idea to have you start by talking about the meeting itself, how it's grown, what the attendance has been this year, et cetera. And then what have been some of the key goals of society? And what have you and your vice chair, Dr. Sayed, been working toward as a society since you established the meeting?

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3 min read

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

By Kris Jacques on 5/14/24 9:00 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.

SmartTRAK recently interviewed Morgan Lorio, MD, the incoming president of the International Society for the Advancement of Spine Surgery (ISASS), to learn more about the society’s commitment and goals to spine advocacy and research as it approaches its 25th anniversary as a society.

Key topics discussed include ISASS’s successful efforts in addressing coding and reimbursement challenges to ensure access to innovative treatments for patients, the potential impact of artificial intelligence (AI) on reimbursement, the new ICD-10 codes for discogenic pain, regenerative spine treatments, future directions and initiatives for ISASS and fostering collaboration between industry stakeholders and surgeon societies.

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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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2 min read

Trends, Advancing Technologies and New Deals Shaping the Future of Spine: NASS 2023

By Kris Jacques on 12/5/23 9:45 AM

SmartTRAK was on-site at NASS 2023 covering the latest spine trends including hosting the hottest reception in town, “Targeting the ASC, What Spine Companies Need to Know."

Shifting hospital-based procedures to the ambulatory surgery center (ASC) is one of the biggest opportunities for healthcare savings and the opportunity is especially great for spine given its high acuity procedures like lateral lumbar fusions, 360 fusions and total disc replacements (TDRs) according to the results of SmartTRAK’s recent survey of 30 ortho, spine and neurosurgeons. At this year’s North American Society (NASS) Annual Meeting held in Los Angeles, CA October 18-21, SmartTRAK hosted a standing-room-only reception for industry on the migration of spine procedures into the ASC titled “Targeting the ASC: What Manufacturers Need to Know,” which included panel discussions and presentations focused on the spine market and practice trends. In this article, SmartTRAK highlights the top takeaways from the reception and identifies the latest trends and innovations at NASS affecting growth in the US Spine Market. Topics covered in the article include:

  • New Care Models Optimizing Outpatient Spine
  • The Motion Preservation “Renaissance” was Hard to Miss
  • MIS SI Joint Fusion Systems – A Plethora of Systems, New Devices Launching Ahead of 2024 Reimbursement Changes.
  • Will New Interbody Technologies Displace the Need for Biologics?
  • Deals Abound: Several Biologics Deals Announced at NASS and After

To download and read the complete "NASS 2023: Trends, Advancing Technologies and New Deals Shaping the Future of Spine" article by Kris Jacques,  SmartTRAK's GM, Spine, just click the button below. Read the Article

Topics: Spine
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2 min read

BREAKING NEWS - Nevro Acquires VYRSA Technologies

By Anne Staylor on 12/1/23 1:49 PM

Nevro* (NVRO) announced it acquired VYRSA Technologies*, a privately held company focused on the minimally invasive treatment of chronic sacroiliac joint (SI Joint) pain. According to the Company, VYRSA is the only SI joint company that manufactures and supports a complete portfolio of FDA-cleared, state-of-the-art SI joint fusion devices. The acquisition was signed and closed on Nov 30, 2023. 

NVRO paid $40MM at closing and agreed to pay up to an additional $35MM in cash or stock tied to milestones. NVRO CEO Kevin Thornal said VYRSA offers differentiated implants to the Company’s current call point of physicians and will help drive company growth, adding that the technology will help bring long-term pain relief to the 15-30% of people suffering with chronic low back pain associated with the SI joint.

The US MIS SI Joint Fusion Market is the fastest-growing segment in the US Spine Market and a growing number of pain physicians are performing these procedures. According to SmartTRAK’s recently published 2023 US MIS SI Joint Market Report, this market is projected to grow at +18% CAGR over the next five years and 53+ MIS SI Joint Fusion systems are now commercially available in the US. See 2023 MIS SI Joint Fusion Market Report*.

The Company also announced the closing of a six-year, $200MM term loan credit facility to be used to repurchase the majority of its 2025 Convertible Notes and for working capital and other corporate purposes. NVRO CFO Rod MacLeod noted that the Company was pleased to refinance a majority of its debt and push the maturity out to 2029 while limiting equity dilution to 2.6MM warrant shares. 

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