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Based on its recent analysis of the spinal cord stimulation (SCS) market, Frost & Sullivan recognizes Nuvectra with the 2017 North American New Product Innovation Award for its flagship product, the Algovita® SCS System. SCS is fast becoming the non-drug alternative for chronic pain conditions, and Nuvectra’s commitment to advancing next-generation neurostimulation technologies makes it a crucial player in the market.
“The multi-billion-dollar global chronic pain management market is significantly underserved,” explained Frost & Sullivan Global Director, Venkat Rajan. “Chronic pain affects over a 100 million people in the United States (US) and conventional treatments primarily rely on opioid use, which poses risks that include reduced function, addiction, overdose, and even death. On the other hand, neurostimulation therapies, and SCS in particular, have garnered a reputation as an effective and safe treatment for refractory chronic pain over the past four decades.”
Nuvectra’s Algovita® system uniquely combines electronic architecture, implantable pulse generator (IPG) capabilities, and wireless telemetry to enable agile, individually tailored SCS therapy for a range of chronic pain patients. It allows physicians to design multiple treatment programs, empowering patients to select therapy options based on daily pain experiences. Moreover, Algovita®’s upgradable and expandable platform is designed to be responsive to market changes, potentially providing non-invasive updates to implement the latest therapies for optimal care.
“The SCS sector in the United States will be at nearly $1.5 billion by 2018 and although it is a mature market, increasing disease prevalence, demand for innovative therapies, and wider patient acceptance will drive high market growth,” observed Rajan. “Nuvectra’s broad-based neurostimulation platform positions the company for accelerated future growth. Its improved therapy delivery system, including enhanced features for a simple physician and patient user experience coupled with the platform’s powerful, upgradable versatility, will enable different therapeutic approaches and markets.”
Pain physicians or neurosurgeons conduct 3- to 7-day trials using percutaneous leads to evaluate the individual benefit for each patient. Once SCS is found to be a viable option for the patient, implantation of the IPG is done. Thereafter, physicians and Nuvectra representatives work to set the therapy configuration that effectively relieves patients of their pain. While physicians appreciate Algovita®’s breadth of capabilities, usability, and the ease of lead implantation, patients like the system’s effectiveness and the portable programmer’s easy-to-use interface.
CE marked and approved by the Food and Drug Administration (FDA), Algovita®’s features include:
• A user-friendly control design and intuitive operation;
• A 24-channel rechargeable IPG that implants in the upper buttock and connects to leads in the epidural space;
• A comprehensive lead portfolio that boasts a novel stretchable coil design and different contact configurations;
• Multiple current sources with the broadest overall parametric range set pulse width, frequency, and amplitude of any system currently in the market to enable personalized therapies;
• Wireless, portable patient and physician programmers based on the Medical Implant Communication Service (MICS) band that allows external program adjustments.
For these reasons, Nuvectra is the worthy recipient of Frost & Sullivan’s 2017 North America New Product Innovation Award in the spinal cord stimulation market. Each year, Frost & Sullivan presents this award to the company that has developed an innovative element in a product by leveraging leading-edge technologies. The award recognizes the value-added features and benefits of the product and the increased returns on investment it offers customers, which in turn increases customer acquisition and overall market penetration potential.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify best practices in the industry.
About Nuvectra
Nuvectra™ (nuvectramed.com) is a neurostimulation company committed to helping physicians improve the lives of people with chronic neurological conditions. The Algovita® Spinal Cord Stimulation (SCS) System is our first commercial offering and is CE marked and FDA approved for the treatment of chronic intractable pain of the trunk and/or limbs. Our innovative technology platform also has capabilities under development to support other neurological indications such as sacral nerve stimulation (SNS), and deep brain stimulation (DBS). In addition, our NeuroNexus subsidiary designs, manufactures and markets leading-edge neural-interface technologies for the neuroscience clinical research market.
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector, and the investment community. Contact us: Start the discussion.
Nuvectra Corporation Contact: Jennifer Armstrong, Media Relations
P: 214-474-3110 - E: jarmstrong[.]nuvectramed.com.
Investor Contact: Nick Laudico / Zack Kubow - The Ruth Group
P: 646-536-7030 / 646-536-7020
E: nlaudico[.]theruthgroup.com / zkubow[.]theruthgroup.com.
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