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Source | Cepack Medical Devices
Neuro modulation Giant Announces New Business PresidentMedtronic Welcomes New Business PresidentRecently, Medtronic (NYSE: MDT) announced,Paolo Di Vincenzo will join the company on October 30 as President of the Neuromodulation business.In this role, Di Vincenzo will be responsible for the overall strategic direction of Medtronic's neuromodulation business and its day-to-day operations.Di Vincenzo previously served as Senior Vice President and General Manager of Advanced Wound Management in the U.S. at Smith & Nephew. During his nine-year tenure at Smith & Nephew, he also held global marketing and leadership roles. Prior to joining Smith & Nephew, Di Vincenzo held various marketing leadership positions at Systagenix (then part of Acelity), BD Medical, and Roche Diagnostics, with increasing responsibilities.Brett Wall, Executive Vice President of Medtronic and President of the Neuroscience Portfolio, stated, "Paolo is a results-oriented leader who puts people first. I am delighted to have him join the team as neuromodulation enters the era of personalized medicine with sensing technology. He will play a key role in enhancing our capabilities in these areas while driving business execution, aligning with Medtronic's focus on a performance-driven culture."As a leading company in the global medical device field, Medtronic has established a vast product system. According to the company's official website,Medtronic currently operates in four main medical fields: cardiovascular, surgical and critical care, neuroscience, and diabetes, covering more than 70 key disease areas.Among them, the cardiovascular business portfolio includes cardiac ablation solutions, cardiac rhythm management, diagnostic services and mechanical circulatory support, cardiac surgery, coronary and renal denervation, aortic, peripheral vascular and venous businesses, structural heart disease and aortic localization, as well as structural heart disease business; diabetes operations cover major disease areas including type 1 diabetes and type 2 diabetes (insulin pump users).The Surgical and Critical Care Portfolio includes the Digestive and Liver Solutions Business, Patient Monitoring Business, Renal Health Solutions, Respiratory Interventions Business, Advanced Surgical Business, Neuroscience Portfolio including Orthopedics and Neurosurgery Business, Neuromodulation and Pelvic Health Business, Neurointervention Business, and ENT Business.Neuromodulation business consists of pain intervention and brain modulation, designing innovative therapies and technologies to help patients relieve pain, restore function, and regain movement.Neuromodulation Leaders Making Frequent MovesMedtronic's latest financial report shows,Neurostimulation Business Revenue in the First Quarter of FY2024 was $420 Million, a Year-over-Year Increase of 3.7%.Compared to Medtronic's other business segments, the scale of the neuromodulation business is relatively small overall. However, in the global market, the company has already taken a leading position in the field of neuromodulation, with competitors including Boston Scientific, Abbott, and LivaNova.Neuromodulation is an emerging technology used to treat or alleviate neurological disorders, with main applications including Deep Brain Stimulation (DBS), Spinal Cord Stimulation (SCS), Vagus Nerve Stimulation (VNS), etc. The conditions treated cover a wide range of areas such as nervous system injuries, motor dysfunction, chronic pain, spasticity, epilepsy, gastrointestinal and bladder dysfunction, peripheral vascular disease, cardiac ischemia, audio-visual impairments, and psychosomatic disorders (e.g., depression, obsessive-compulsive disorder, Tourette syndrome).Data shows that the global neuromodulation market size reached 5.8 billion US dollars in 2020, and it is expected to grow to 8.8 billion US dollars by 2025, with a 5-year increase of 51.7%.Among them, the United States is the world's largest production and consumption market for implanted neurostimulators, accounting for about 40% of the global market share. The top three细分 markets—spinal cord stimulation (SCS), deep brain stimulation (DBS), and vagus nerve stimulation (VNS)—account for 54.67%, 16.52%, and 14.19%, respectively.In June last year, Medtronic announced the Chief Medical Officer of the company's Neuromodulation Operations division.Ashwini (Ash) Sharan is one of the top neurosurgeons in the United States, highly sought after for his practice and thought leadership in the field of neurosurgery.In September this year, Boston Scientific announced that it had reached a definitive agreement to acquire medical technology company Relievant Medsystems, Inc.This acquisition aims to expand the neuromodulation portfolio, offering more treatment options for patients with chronic low back pain.
The deal includes $850 million in upfront cash and an undisclosed additional contingent payment based on sales performance over the next three years. The transaction is expected to be completed in the first half of 2024, subject to customary closing conditions.At that time, analysts said that assuming Relievant's sales increase from approximately US$70 million in 2023 to about US$200 million in 2026, this acquisition would add around 60 basis points to Boston Scientific's organic growth in 2025-2026.In the domestic market,Jingyu Medical, PCH Medical, LeadMed Medical, Neuromed Medical, Shénluò Medical,A number of companies, including Jialiang Medical, are also advancing their R&D efforts in the field of neuromodulation.As a developing medical technology, the market also looks forward to seeing more mature products in the field of neuromodulation to meet clinical needs and improve diagnosis and treatment outcomes.
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