Healthcare Industry News: vertebral fusion
News Release - November 15, 2007
Ortoviva: Strong Growth Potential for Ortoviva's Spinal-Surgery TechnologySTOCKHOLM, Sweden--(HSMN NewsFeed)--The global market for orthopedic products is in a period of rapid expansion with sales tripling in the last decade to reach a total value of approximately USD 26 billion. Of this, America and Europe are the largest markets with 63% and 24% of sales respectively.
“The speed of this increase points to a very interesting future,” says Ortoviva’s CEO Stan Mikulowski. “The global market for disc prostheses implants alone is upwards of 4.2 billion dollars and shows an annual growth of 16%. Our solution for spinal surgery fits well with this development and will work to lift these profits even higher.”
Presently, there is a lack of effective instruments to help surgeons simply and exactly insert disc prostheses without complications. This need, in turn, limits the choices of both patients and surgeons, resulting in the fact that more people are forced to suffer with the unresolved difficulties of their back problems. Some of these patients even undergo unnecessary spinal fusions. Until recently, spinal fusion and discectomy have been the predominant treatment. However, new technologies are quickly changing this scenario and in the coming three years it is expected that 50% of all medically qualified patients will be offered prosthetic disc replacement instead of a vertebral-fusion procedure.
“Our goal is to continue to focus on this segment and to cooperate with leading specialists and manufactures of disc prostheses. We want to offer an alternative to the inherent limitations of vertebral fusion, enabling these patients to live a normal life with no disabilities. Ortoviva’s development efforts are entering a new phase and we expect to be ready for clinical testing in the beginning of 2008,” says Stan Mikulowski.
Ortoviva develops instruments for spinal surgery that simplify and facilitate the exact placement of disc prostheses. The company was founded in 2006 by LinkMed and a group of specialists in biomaterials, orthopedic surgery and medical technical products. LinkMed is listed on the Stockholm Stock Exchange and works with innovators to create and develop new life-science companies. By providing expertise and capital, LinkMed has created a portfolio of 12 companies, of which six are active in pharmaceutical development and biotechnology and six are active in medical technology.
Additional information is available at: www.ortoviva.com and www.linkmed.se
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