Based on its recent analysis of the minimally invasive spinal surgical solutions market, Frost & Sullivan recognizes Baxano Surgical, Inc. with the 2014 North American Frost & Sullivan Award for Product Line Strategy Leadership. Baxano Surgical's superior products facilitate minimally invasive surgery (MIS), offering both patients and hospitals reliable and easy-to-use products that improve outcomes for medical conditions that affect the lumbar region of the spine.
Baxano Surgical's products include AxiaLIF, VEO, iO-Flex, and the AVANCE MIS Pedicle Screw System. The AxiaLIF system provides a minimally invasive alternative to open spinal fusion procedures, while the VEO Lateral Access and Interbody Fusion System helps surgeons to better visualize the surgical area through clear radiographic views and simultaneously provides a nerve monitoring mechanism.
Baxano Surgical's iO-Flex is specifically designed to treat lumbar spinal stenosis caused by the overgrowth of bone and tissue in the vertebra. It uses a fine wire that allows surgeons to shave away the overgrown tissue without cutting into healthy tissue. Finally, the AVANCE MIS Pedicle Screw System, which provides posterior fixation of the spine, is designed to minimize tissue damage, while eliminating the need for additional incisions to insert a rod.
"Frost & Sullivan finds that with the expansion of its portfolio to include VEO, iO-Flex and AVANCE, Baxano's product line covers at least half of the spine surgery device needs of hospitals involved in treating degenerative disc disease," said Frost & Sullivan Consultant Imran Khan. "Baxano Surgical recognizes the need for further additions to its portfolio and continues to invest in its research and development division."
Furthermore, Baxano Surgical provides a robust training platform to educate surgeons on product utilization and functionality. By providing hands-on experience, surgeons are able to develop practical techniques with a focus on lateral and presacral fusion approaches as well as decompression with the iO-Flex microblade shaver.
"The cost-efficient nature of Baxano's MIS products creates value for the payers in the form of a lower overall cost of treatment through less recovery time, shorter hospital stay, and reduced need for excessive pain medicine," noted Khan. "They also benefit hospitals as they aid in resource optimization, demonstrating significant overall value to the healthcare industry."
Each year, Frost & Sullivan presents this award to the company that has developed a comprehensive product line that caters to the breadth of the market it serves. The award recognizes the extent to which the product line meets customer base demands, the overall impact it has in terms of customer value, as well as increased market share.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for outstanding achievement in areas such as leadership, technological innovation, customer service, and product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research.