NuVasive, Inc. NUVA recently announced the commercial launch of the Modulus TLIF-A, a porous titanium spine implant to be used under the transforaminal lumbar interbody fusion (TLIF) procedure. This development completes the company's Advanced Materials Science (AMS) portfolio for all major posterior interbody fusion techniques used in TLIF, the most commonly performed procedure in the spine industry. According to NuVasive, with the addition of Modulus TLIF-A, the portfolio offering for thoracolumbar posterior procedures space gets completed too.
The availability of this device broadens NuVasive’s foothold in the spinal deformity market, given its differentiated ability to provide anterior column support, increase segmental lordosis and maximize capability to restore sagittal alignment.
Few Details on Modulus TLIF-A
Modulus TLIF-A is an anteriorly placed implant featuring a porous titanium surface technology that is designed to promote bone in-growth and bone on-growth. This device has specific ability to provide anterior column support, increase segmental lordosis and maximize capability to restore sagittal alignment.
The system has been designed to work smoothly with the existing MAS TLIF and MAS Midline access systems, allowing customization options to specific surgical techniques.
Significance of Product Expansion
The company expects to strengthen its foothold in the domestic interbody device market, whose approximate valuation is more than $1.2 billion. The expansion of their portfolio projects its Advanced Materials Science (AMS) to a global audience, with a significant market share in TLIF implants positioned anteriorly. The company views this as the perfect integration of optimized material properties and their consequent deliverability.
The product is designed to provide improved imaging features and optimize surgical workflow by using a single instrument for implant insertion and articulation.
Thoracolumbar Posterior Procedures Receive a Boost
NuVasive is continuously working toward providing surgeons with a portfolio of advanced material implant to meet market demand. It believes that the system’s innovative technique of combining the benefits of porosity with the material properties of PEEK and titanium to create implants for fusion is the major reason it scores higher than the traditional and competitive implants available in the market.
Huge Prospects in Spine Surgery Space
Traditional spine surgery involved taking an x-ray during the procedure. However, with technological improvements, minimally-invasive surgeries are being increasingly preferred as it reduces cost of surgery, discomfort from the surgery and hastens recovery. According to a study by SPINEMarketGroup, the global market for deformity spinal system will witness a rally and is expected to fuel the market revenue for deformity spinal system.
Per a report by GrandViewResearch, the global spinal implants & devices market size was valued at USD 11.06 billion in 2015 and is anticipated to see a CAGR of 5.8% during the 2018-2024 period. Undoubtedly, the commercial launch comes at an ideal time.
Some Recent Developments
In June 2019, the company launched Modulus TLIF-O, a porous titanium spine implant for the TLIF procedure, expanding the application of the company's AMS portfolio to include more of its procedural offerings and the most commonly-performed procedure in the spine industry.
In July 2019, the company launched an integrated technology platform named Pulse. It is the first single platform to include multiple technologies which has been designed to help surgeons adopt more efficient, less disruptive surgical approaches in all spine procedures. It addresses a broader range of clinical challenges in the operating room (OR) compared to any other technology in the spine market.
Share Price Performance
The stock has gained 32.3% in a year’s time, outperforming the industry’s rise of 16.4%. The stock has also outpaced the S&P 500 index’s rally of 14.3%.
Zacks Rank & Other Key Picks
Currently, NuVasive carries a Zacks Rank #2 (Buy). A few other top-ranked stocks from the broader medical space are Capricor Therapeutics, Inc. CAPR, National Vision Holdings, Inc. EYE and LeMaitre Vascular, Inc. LMAT. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Capricor’s, holding a Zacks Rank #2, third-quarter earnings growth rate is expected at 28.18%.
National Vision’s, Zacks Ranked #2, long-term earnings growth rate is projected at 17.2%.
LeMaitre Vascular’s, holding a Zacks Rank #1, has a long-term earnings growth rate projection of 10%.
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