Increasing excitement from surgeons about new bone graft substitute products will propel that market to $1.9 billion in 2012, according to a new report.
According to Millennium Research Group's US Markets for Orthopedic Biomaterials 2008 report, the introduction of advanced BGS products is driving traditional manufacturers to develop next-generation products of their own.
The report cited medical device company NuVasive Inc.'s purchase of Osiris Therapeutics Inc.'s Osteocol unit for up to $85 million, giving them access to a bone graft substitute which incorporates stem cells.
"The popularity of advanced BGS technologies has increased competition within the field," Millennium Research Group's Orthopedics Research Manager Kevin Flewwelling said in a statement. "Medtronic Spinal and Biologics INFUSE BGS, based on a recombinant human bone morphogenetic protein, has forced NuVasive and other BGS competitors to dramatically innovate."
He added that Infuse sales in 2007 totaled more than $700 million.
Shares of Nuvasive slipped 12 cents to $40.55 in morning trading, while Medtronic shares were up 40 cents to $47.82.
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