Yahoo Finance Abbott (ABT) Expands in Canada With First Eterna SCS Use
Abbott ABT recently announced the first usage of its Eterna spinal cord stimulator (SCS) system in Canada. This marks a significant milestone in the company’s approach to chronic pain management.
The Eterna SCS system, known for its compact size and BurstDR stimulation technology, holds the promise of expanding Abbott's neuromodulation business in Canada.
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Abbott's proprietary BurstDR stimulation is the only SCS technology with the highest level of clinical evidence (level 1A.). The proprietary BurstDR therapy claims to reduce pain 23% more than traditional tonic stimulation without the tingling sensation.
Leveraging this technology, the Eterna SCS system reduces pain without causing discomfort. Its small size and long life are added positives. This combination of features makes it an attractive option for patients and healthcare providers seeking novel approaches to chronic pain relief.
Addressing Chronic Pain Challenges in Canada
Canada faces a substantial challenge, with one in five individuals living with chronic pain. This not only impacts their quality of life but also results in significant economic burden and healthcare challenges. Per the company, beyond the emotional and physical toll, chronic pain has profound economic implications, with an estimated annual cost of $40 billion to the healthcare system and lost productivity. Abbott is optimistic that the adoption of advanced pain management technologies like the Eterna SCS system aligns with the recommendations of the Canadian Pain Task Force for enhanced access to effective treatment options.
With Health Canada's approval and the successful implementation at Hôpital de l'Enfant-Jésus hospital, Abbott is poised to expand its presence in the Canadian neuromodulation market. The focus on patient comfort, reduced recharge burden and superior pain relief positions the Eterna SCS system as a game-changer in chronic pain management.
Market Prospect and Major Peers
Going by a recent report published on LinkedIn, the global neuromodulation market, valued at $5.9 billion in 2022, is projected to reach $14.8 billion by 2030, at a CAGR of 12.2% between 2023 and 2030. Factors driving this growth include rising neurological disorders, increased adoption of neuromodulation therapies, augmented private sector R&D and advancements in rechargeable implants. Lifestyle diseases like chronic pain and depression, technological advancements, awareness of neurodegenerative conditions and expanded research also contribute to market expansion. The growing demand for neuromodulation therapies, especially in treating conditions like Parkinson's disease, alongside wider insurance coverage, fuels this upward trajectory globally.
Among the major players in this field, Boston Scientific’s BSX Neuromodulation business is expanding rapidly. Within Neuromodulation, Boston Scientific’s pain business is consistently gaining traction, banking on strength in spinal cord stimulation (SCS), driven by its innovative Alpha portfolio with fast therapy in a cognitive suite of digital tools supporting patient activation. The company’s Brain franchise, too, is gaining traction, driven by new product launches in the United States and procedure recovery in Europe. In July 2023, the company received FDA approval for the Vercise Neural Navigator 5 software, which aids in efficient programming of the treatment of Parkinson's disease. Meanwhile, the company’s Pain franchise performance is expected to improve in 2024 following the launch of the U.S. WaveWriter Alpha DPN indication and the strong and real-world data on FAST recently presented at the North American Neuromodulation Society.
Medtronic MDT too is expanding its Neuromodulation business at a fast pace. In Neuromodulation, the company is gaining new implant share in both pain Stim and DBS (Deep Brain Stimulation). In pain stim, the market is gaining from Inceptive closed loop pain stem device in Europe. In brain stim, Percept PC with BrainSense is showing strong performance. In January 2024, the Percept RC DBS system received FDA approval.
Nevro NVRO is developing and commercializing the Senza SCS system, an evidence-based neuromodulation platform for the treatment of chronic pain. This flagship Senza SCS system has been consistently driving the top line for Nevro. Since its commercial launch in the United States, the system raked in significant revenues. Nevro has developed and commercialized its HFX SCS platform, which includes the Senza SCS system. The Senza HFX iQ platform is the latest addition to the Senza family of products.
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