Minimal Invasive Procedures Drive Spinal Implant Market
By MedTech Outlook | Friday, March 15, 2019
The increasing use of implant procedures and increasing acceptance of minimally invasive surgeries (MIS) make it possible for surgeons to produce smaller incisions and better patient outcomes. The need for better visualization is essential due to the limits of the MIS (closer and deeper cavities). Spine Paradigm, as a leader in customized medical device lighting company, encourages them to remain on the market for state-of-the-art spinal implants, spinal surgery, and technology developments. Spinal implants are used for many forms of pain and deformities. The main function is the fusion of two vertebrae and the replacement of material from the natural disk. RTI Surgical is a world-leading surgical implant company offering safe biological, metal, and synthetic implants for surgeons. RTIs implants are used in the fields of sports medicine, general operation, the backbone, orthopedics, and trauma and are distributed in almost 50 countries with an obligation to deliver a higher standard.
RTI Surgical has signed a final contract with Paradigm Spine, which is to buy $100 million of outstanding shares in cash and inventories up to a value of $300 million in deposit. RTI has taken this step to enhance the overall spine offering by infusing new technology, offering better outcomes for patients care, and adding to the growth of the company. The number of new products and procedures has increased for surgery with the advancement in technology and innovations that are taking place every day. Innovation in spine surgery is happening in a great number rapidly and is reaching hospitals and surgeons around the globe within seconds. The internet has made it possible that new ways of carrying out procedures are shared amongst surgeons and healthcare centers ensuring the access to every one of new technology.
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RTI Surgical has made the move of acquiring Paradigm Spine because of the tremendous growth of spinal implants and devices in the global market. The market research report by Grand View Research reveals that the global spinal implants and devices market will escalate by 5.8 percent at a compound annual growth rate (CAGR) in the time period of 2018 and 2024 which was valued at $11.1 billion in 2015.