The concept for the LimiFlex™ Paraspinous Tension Band was first invented by company co-founders Louie Fielding and Todd Alamin, MD in the Stanford University Biodesign Innovation program. The LimiFlex™ Paraspinous Tension Band was designed to provide stabilization without compromising spinal function, for patients with degenerative lumbar spinal disorders requiring segmental stabilization for which the current standard surgical option is spinal fusion.
After receiving the CE mark in 2009, the LimiFlex™ Paraspinous Tension Band was used to treat more than 2,000 patients, primarily in Europe. A clinical trial has been approved by the United States FDA under an Investigational Device Exemption (IDE) to study use of LimiFlex™ in patients with lumbar spinal stenosis with up to Grade I degenerative spondylolisthesis.https://limiflex.com
About the Spinal Market
The Spinal implants and spinal devices market, by technology, includes spinal fusion and fixation, vertebral compression fracture treatment, and motion preservation/non-fusion technologies. On the basis of products, the global spinal implants and spinal devices market is divided into six major segments, namely, thoracic fusion and lumbar fusion devices, cervical fusion devices, spine biologics, vertebral compression fracture treatment devices, motion preservation/non-fusion treatment devices, and spine bone stimulators. Bases on the type of surgery, the global spinal implants and spinal devices market is divided into two segments, namely, open surgery and minimally invasive surgery. The spinal decompression devices market, by type of procedure, covers discectomy, laminotomy/laminectomy, foraminotomy/foraminectomy, facetectomy, and corpectomy procedures.
The Spinal market is expected to reach USD 15.73 Billion by 2020, growing at a CAGR of 5.6% from 2015 to 2020. As of 2015, North America is estimated to hold the largest share of the global spinal implants and spinal devices market, followed by Europe. However, the Asia-Pacific market is expected to grow at the highest CAGR of 8.2% from 2015 to 2020. A number of factors, including rising healthcare expenditure in developing nations owing to growing income levels, increasing government funding, presence of a large patient population, rising obesity cases, and growing awareness on the newly developed spine treatment techniques and devices are propelling the growth of the spinal implants and spinal devices market in the Asia-Pacific region. However, challenges associated with this market, such as scarcity of expertise and trained healthcare workers and lack of adequate patient awareness restricts the market growth in this region.
Source: marketsandmarkets.com