Titan Spine entered the Australian market and announced first surgeries completed in the region with Endoskeleton® interbody fusion devices and surface technology.
The company received registration approval in 2014 to commercially market its full line of Endoskeleton devices from the Australian Therapeutic Goods Administration and the New Zealand Medicines and Medical Devices Safety Authority.
In the span of time between registration and first procedures, the company focused resources on U.S. and EU education, seeking to show the value of its nanoLOCK surface technology while expanding its U.S. salesforce and accelerating U.S. sales. Titan Spine will now turn its attention to Australia and select ex-U.S. markets, where it perceives opportunities for substantial and sustainable growth.
For 2016, we estimated Titan Spine's sales in a range from $50.0MM to $53.0MM, growing nearly 50% from 2015. The strong growth was partially attributed to Titan Spine’s ability to expand its surgeon reach by doubling its workforce, as well as its efforts to demonstrate nanoLOCK’s effectiveness—backing it with data, warranties and clinical codes.
If growth continues on its present path, we estimate that 2017 sales could surpass $72.0MM.
Source: Titan Spine, LLC