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Easing Back and Joint Pain
The call for less-invasive surgeries to treat orthopedic problems will drive industry’s innovation.
The quest to curb invasive joint replacement and spinal surgery will result in the orthopedic industry’s push to develop new technologies and radically different treatment approaches, according to a research report released Monday.
Orthopedic disorders, of which age-related degenerative arthritis and back problems are the most common, cost the U.S. about $254 billion each year in healthcare expenses and lost economic productivity. These disorders are also the most common cause for patients to visit their physicians, according to the research firm Frost & Sullivan, which published the report.
According to the report, the biggest innovations are coming from orthopedic companies in the United States like Johnson & Johnson's DePuy, Zimmer, and Smith & Nephew. Other company heavyweights tromping around in the industry include Medtronic, Biomet, and Stryker.
The companies have already helped replace older treatment options with minimally invasive procedures and their accompanying devices. As a result, patients are experiencing less pain and trauma, smaller scars, and a reduction in blood loss.
Startups are also looking to get in on the action. In January, Redmond, Washington-based Archus Orthopedics raised a $35-million third-round venture fund toward developing its device that replaces spinal joints, or facets (see J&J Backs Spinal Implants Firm).
The idea is to replace the facets of a vertebra, rather than fuse the two vertebrae together, which has been a typical practice. J&J were among those who contributed to the financing.
More Funds
In February, Shelton, Connecticut-based Spine Wave received $36.5 million to develop implant materials and devices (see Spine Wave Taps Into $36.5M).
The company is working to launch an expandable device that allows surgeons to less invasively access the disc space between two vertebrae with a small implant. The surgeon can then build the implant to an appropriate size in order to restore the proper biomechanics and balance.
Also in Spine Wave’s pipeline is an injectable liquid for the repair of spinal disc damage due to aging or injury. Once injected, the liquid quickly hardens to resemble a material state similar to a disc’s natural nucleus.
The company’s injectable liquid is part of a new technology for the industry called orthopedic biomaterials, where materials mimic the bone.
The technology is poised to see steady growth in the industry, according to Frost & Sullivan researchers, especially for treating health problems like degenerative disc disease and osteoarthritis.
But developing new technologies won’t be the only challenge orthopedic companies face when bringing their products to market. Researchers found that many of the hurdles will be due to the increasing account and reimbursement scrutiny in the healthcare industry. Currently, healthcare institutions do not reimburse many procedures.
The report also warned that companies can’t be lax about the devices’ safety. Because the devices are inserted in the human body and function for long periods, they need to be stable and fully functional, without triggering any side effects.