Artificial Intelligence
Global Minimally Invasive Spine Technologies Market to 2032: Increasing Incidences and Prevalence of Spinal Disorders Drives Growth
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Dublin, April 27, 2023 (GLOBE NEWSWIRE) — The “Minimally Invasive Spine Technologies Market – A Global and Regional Analysis: Focus on Condition, End User Analysis, and Country Analysis – Analysis and Forecast, 2022-2032” report has been added to ResearchAndMarkets.com’s offering.
The global minimally invasive spine technologies market was valued at $3,180.9 million in 2022 and is anticipated to reach $9,406.5 million by 2032, witnessing a CAGR of 11.45% during the forecast period 2022-2032.
The growth in the global minimally invasive spine technologies market is expected to be driven by the rising preference for minimally invasive spine surgical procedures globally and increasing awareness among practitioners for simulation, training, and continuous medical education.
Market Lifecycle Stage
The minimally invasive spine technologies market is in the developing phase. The rising demand for minimally invasive surgeries and robotic-assisted surgeries and increasing synergetic activities within the spine surgery industry are some of the major opportunities in the global minimally invasive spine technologies market.
Furthermore, some of the key trends going on in the market are the technological advancements in the field of medical surgery, such as the incorporation of AI, the shift of procedures to ambulatory surgery centers, and increasing synergistic activities.
Impact of COVID-19
The demand for minimally invasive spine technologies witnessed a decline during the pandemic owing to postponing of elective surgeries and other non-urgent procedures. Most of the spinal surgeons’ work was eliminated with the closure of elective surgery and outpatient clinics.
It was crucial that emergency spinal care was provided throughout the pandemic, including the development of guidelines to help spinal surgeons properly handle patients.
Furthermore, lockdowns and travel restrictions during the pandemic caused delays in the procurement of raw materials as well as delivery to end users.
Recent Developments in the Global Minimally Invasive Spine Technologies Market
- In June 2022, NuVasive, Inc. opened its Singapore Experience Center for the Asia-Pacific region to support the company’s growth and increase its global footprint.
- In April 2022, SeaSpine launched the Reef TA (TLIF Articulating) Interbody System. This new system is engineered to deliver an interbody to the front part of the spinal disc space with precision, with the aim of enhancing sagittal alignment and endplate support. The Reef TA Interbody System offers a variety of footprint and lordotic options, giving surgeons the flexibility to address specific anatomical requirements during the surgical procedure.
- In October 2022, Orthofix and SeaSpine merged as equals to form a leading global company in the spine and orthopedics industry.
- In July 2022, Medtronic plc received approval from the U.S. Food and Drug Administration (FDA) for its latest version of the UNiD Spine Analyzer, which includes a predictive model for degenerative spinal surgery.
- In October 2022, Captiva Spine entered into an exclusive strategic partnership with REMEX Medical for Spine Navigation and Robotics for the expansion of their product portfolio.
Demand – Drivers and Limitations
The following are the drivers for the minimally invasive spine technologies market:
- Increasing Incidences and Prevalence of Spinal Disorders
- Increasing Preference for Minimally Invasive Spine Surgeries
- Technological Advancement in Minimally Invasive Spine Surgical Procedures
The market is expected to face some limitations due to the following challenges:
- Lack of Well-Established Landscape for Reimbursement for Minimally Invasive Spinal Procedures
- High Cost of Capital Equipment Purchases and Disposables
- Lack of Training Leading to Shortage of Skilled Professionals
Key Market Players and Competition Synopsis
The companies that are profiled have been selected based on inputs gathered from primary experts and analyzing company coverage, product portfolio, and market penetration.
Key Companies Profiled
- AMS Group
- Alphatec Holdings, Inc.
- Aurora Spine, Inc.
- B. Braun SE
- Boston Scientific Corporation
- Globus Medical, Inc.
- Johnson & Johnson
- Medtronic plc
- NuVasive, Inc.
- ORTHOFIX MEDICAL INC.
- Precision Spine, Inc.
- Richard Wolf GmbH
- Spineart
- Spineology Inc.
- Stryker Corporation
Key Attributes:
Report Attribute | Details |
No. of Pages | 183 |
Forecast Period | 2022 – 2032 |
Estimated Market Value (USD) in 2022 | $3180.9 Million |
Forecasted Market Value (USD) by 2032 | $9406.5 Million |
Compound Annual Growth Rate | 11.5% |
Regions Covered | Global |
Key Topics Covered:
1 Markets
1.1 Global Market Outlook
1.2 Industry Outlook
1.3 Impact of COVID-19 on the Global Minimally Invasive Spine Technologies
1.4 Business Dynamics
1.4.1 Impact Analysis
1.4.2 Business Drivers
1.4.2.1 Increasing Incidences and Prevalence of Spinal Disorders
1.4.2.2 Increasing Preference for Minimally Invasive Spine Surgeries
1.4.2.3 Technological Advancement in Minimally Invasive Spine Surgical Procedures
1.4.3 Business Restraints
1.4.3.1 Lack of Well-Established Landscape for Reimbursement for Minimally Invasive Spinal Procedures
1.4.3.2 Factors Hindering the Implementation of Minimally Invasive Spinal Surgeries
1.4.3.2.1 High Cost of Capital Equipment Purchases and Disposables
1.4.3.2.2 Lack of Training Leading to Shortage of Skilled Professionals
1.4.4 Business Opportunities
1.4.4.1 Augmentation of Artificial Intelligence in Minimally Invasive Spine Surgery
1.4.4.2 Leveraging Synergies to Diversify Business Portfolio
2 Global Minimally Invasive Spine Technologies Market (by Condition)
2.1 Overview
2.2 Opportunity Assessment
2.3 Herniated Disc
2.4 Spinal Stenosis
2.5 Degenerative Disc Disease
2.6 Spinal Deformity
2.7 Spinal Fracture
2.8 Spinal Infection
2.9 Spinal Tumor
3 Global Minimally Invasive Spine Technologies Market (by End User)
3.1 Overview
3.2 Opportunity Assessment
3.3 Hospitals
3.4 Ambulatory Surgery Centers
3.5 Orthopedic Clinics
4 Global Minimally Invasive Spine Technologies Market (by Region)
5 Competitive Benchmarking and Company Profiles
5.1 Competitive Landscape
5.1.1 Key Strategies and Developments
5.1.1.1 Regulatory and Legal Activities
5.1.1.2 New Offerings
5.1.1.3 Mergers and Acquisitions
5.1.1.4 Partnerships, Collaborations, and Business Expansions
5.2 Company Profiles
For more information about this report visit https://www.researchandmarkets.com/r/14ywf
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world’s leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
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Artificial Intelligence
Clarifai and Crimson Phoenix Partner to Enhance Advanced AI, ML and Unstructured Data Labeling in Defense, Intelligence Communities
Combined Capabilities and Real-World Experience Accelerate AI Readiness to Support Any Mission
WASHINGTON and HERNDON, Va., Oct. 9, 2024 /PRNewswire/ — Clarifai, a global leader in computer vision and pioneer in AI orchestration and development, has partnered Crimson Phoenix, a premier provider of data-enabled solutions. This strategic alliance aims to deliver cutting-edge AI-enabled data labeling and computer vision capabilities for unstructured data such as images and video in the Intelligence and Defense communities.
The strategic partnership builds on an existing relationship as Crimson Phoenix was recently awarded a research contract to support the U.S. Army’s Autonomous Combat Casualty Care Initiative. Leveraging Clarifai’s full-stack AI development and computer vision platform, Crimson Phoenix will efficiently annotate complex medical imagery, ensuring the highest accuracy in AI and ML models for combat casualty care.
Moving forward, the ability to quickly and accurately label geospatial data sets, as well as other video, image, and sensor data will be a key advantage in Defense and Intelligence. The partnership will enable entities to identify targets of interest, track and maintain equipment, distinguish enemy soldiers from civilians, detect irregular activities, and support other mission-critical operations.
“We are thrilled to partner with Crimson Phoenix to manage complex data labeling and model building that will rapidly turn mountains of data into plans of decisive action that support the warfighter and the supply chain,” said Matt Zeiler, Ph.D., CEO of Clarifai. “Clarifai has long worked with the defense industry to improve the use of computer vision in battle and intelligence and this partnership will enable us to bring our industry-leading technology to more entities and use cases.”
Clarifai has delivered cutting-edge AI solutions for programs within United States Special Operations Command (USSOCOM), National Geospatial-Intelligence Agency (NGA), Department of Homeland Security (DHS), Department of Defense (DoD), and other Intelligence communities for years, including via Project Maven, the first large-scale AI program for the government. Clarifai was also named a leader and received the top score in the Current Offering category in The Forrester Wave™: Computer Vision Tools, Q1 2024. For U.S. government projects, Clarifai has cleared personnel and Awardable status through the Chief Digital and Artificial Intelligence Office’s (CDAO) Tradewinds Solutions Marketplace.
The partnership is the first of its kind for both Crimson Phoenix and Clarifai and it underscores the importance of high-quality data labeling and vision model training as AI and ML move deeper into action in Defense and Intelligence.
“By teaming with Clarifai, we aim to solve the most challenging problems of computer vision models and to do it with the efficiency and scale that the Defense and Intelligence industries need. Both Clarifai and Crimson Phoenix have a demonstrated history of delivering mission-critical support to the military, providing the security and resilience our clients demand. With extensive experience in deploying both edge and cloud solutions, we ensure robust, scalable capabilities tailored to the unique needs of our clients,” said Brad Becker, EVP of Crimson Phoenix.
Crimson Phoenix stands at the forefront of computer vision technology in the military, defense, and national security sectors. With a multidisciplinary team of data scientists, engineers, and visualization experts, Crimson Phoenix collaborates with the Defense and Intelligence communities to design and deploy custom AI/ML solutions, optimizing business processes through advanced technologies like computer vision, machine learning pipelines, and data engineering. The company’s expertise spans object detection, action recognition, segmentation, data labeling and data visualization, delivering actionable insights for strategic decision-making.
About ClarifaiClarifai is a global leader in computer vision and pioneer in AI orchestration and development helping organizations, teams, and developers build, deploy, and operationalize AI at scale. Clarifai’s cutting-edge full-stack AI platform leverages today’s modern AI technologies like Large Language Models (LLMs), Large Vision Models (LVMs), and Retrieval Augmented Generation (RAG), data labeling, inference, and more. Founded in 2013, Clarifai is available in cloud, on-premises, or hybrid environments and has been used to build more than 1.5 million AI models with more than 400,000 users in 170 countries. Learn more at www.clarifai.com.
For more information or media requests, contact: [email protected]
About Crimson PhoenixCrimson Phoenix is a premier provider of data-enabled solutions for the Intelligence and Defense Communities. Utilizing the power of AI, ML, and advanced digital technologies, Crimson Phoenix delivers comprehensive services designed to provide a competitive edge across critical domains. For more information about Crimson Phoenix and its innovative solutions, please visit: www.crimsonphoenix.com.
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Artificial Intelligence
Aghanim and Sift Partner to Prevent Fraud in Direct-to-Consumer Mobile Gaming E-commerce
LOS ANGELES, Oct. 9, 2024 /PRNewswire/ — Aghanim, a mobile gaming fintech company founded by Harvard Business School alumni with over 40 years of combined expertise in video games and fintech, today announces a strategic partnership with Sift, the AI-powered fraud decisioning platform securing digital trust for leading global businesses. The combination of AI-driven insights across 1 trillion events and identity signals combined with Aghanim’s decades of expertise in gaming represents an unprecedented anti-fraud solution for mobile games.
Founded in June 2023, Aghanim empowers mobile game publishers to unlock new revenue streams through direct-to-consumer strategies. Its web-based game hubs also drive value for players with exciting competitive, social, and metagame features and rewards in addition to targeted offers. By helping game developers and publishers increase their net revenue by up to 200%, Aghanim enables them to invest additional capital into vital areas such as user acquisition.
Sift is an AI-powered fraud decisioning platform that helps digital businesses optimize their risk-reward equation with advanced machine learning, providing multi-layered fraud prevention for over 700 global businesses. With Sift’s support, Aghanim customers are able to detect fraud, secure every transaction, and improve conversion & engagement.
Constantin Andry, Co-founder and Co-CEO of Aghanim commented:
“Aghanim offers mobile game studios a fully self-managed end-to-end solution, which includes web-based game hub creation and management, integrated e-commerce, live ops automation, community engagement, and a payments platform as a suite of interoperable tools. This partnership with Sift enables us to ensure game developers, publishers, and their players are as protected as possible via secure, compliant, direct-to-consumer web-based solutions.”
Armen Najarian, Chief Marketing Officer at Sift said:
“Aghanim is an exciting player in the fintech world, and one with the potential to solve some of the inherent challenges in mobile gaming. We look forward to supporting their mission as the leading direct-to-consumer platform for mobile games by preventing fraud and creating a trusted, safe environment for their users.”
Aghanim soft-launched in early 2024 with funding from Bessemer Venture Partners, Point72 Ventures, QED Investors, and the A16Z GAMES SPEEDRUN. The company is rapidly expanding its reach and partnering with major mobile games companies to transform how mobile games are monetized and distributed through its proprietary Game Hub Builder and LiveOps Builder technologies.
CLICK HERE FOR VISUAL ASSETS
For more information, please visit Aghanim’s website.
Press Contact: [email protected]
Follow Aghanim on LinkedIn, Twitter, Facebook, and Instagram for updates.
About Aghanim:Aghanim, founded in June 2023, is a mobile gaming fintech company specializing in integrated commerce, liveops automation, community engagement, and payments. With a mission to revolutionize how mobile games are monetized and distributed, Aghanim’s web-based game hubs empower developers to go direct-to-consumer and unlock new revenue streams.
About SiftSift is the AI-powered fraud platform securing digital trust for leading global businesses. Our deep investments in machine learning and user identity, a data network scoring 1 trillion events per year, and a commitment to long-term customer success empower more than 700 customers to grow fearlessly. Brands including DoorDash, Yelp, and Poshmark rely on Sift to unlock growth and deliver seamless consumer experiences. Visit us at sift.com and follow us on LinkedIn.
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Artificial Intelligence
ETQ Launches AI-Based Predictive Quality Analytics Solution
ETQ Reliance eQMS Brings Actionable AI Insights for Early Detection and Resolution of Manufacturing Production Issues with a partnership with Acerta Analytics
BURLINGTON, Mass., Oct. 9, 2024 /PRNewswire/ — ETQ, part of Hexagon, today launched the ETQ Reliance® Predictive Quality Analytics solution, bringing a new level of artificial intelligence (AI)-driven analytics to its ETQ quality management system (QMS). The solution enables automated, early detection and proactive resolution to prevent manufacturing problems, limit production variation, speed decision making, deliver prescriptive solutions to supply chain issues and boost overall delivered quality.
By extending proactive quality management to the shop floor, organizations can boost quality, innovation across the product manufacturing process – enabling product optimizations and continuous improvement.
ETQ has partnered with Acerta Analytics, a developer of predictive quality analytics software for manufacturers, to integrate Acerta LinePulse, an AI and machine learning-based solution, with ETQ Reliance. The partnership will allow ETQ and Acerta customers to benefit from a predictive, closed loop quality system that marries real-time data analysis with advanced quality workflows.
“Today’s manufacturers worry about the performance of their plants, how to ensure operational efficiency, meet compliance requirements and manage risk, all while preserving innovation, ensuring on-time delivery of quality products to their customers,” said Vick Vaishnavi, CEO of ETQ. “Heavy on their minds is the possibility of product recalls. In fact, in a recent ETQ Pulse of Quality in Manufacturing survey 73% of respondents said they had a product recall in the last five years, and 48% said there have been more recalls than there were five years ago. The ETQ Reliance Predictive Quality solution combines AI technology and expert human knowledge to help identify production problems sooner and resolve them faster to avoid costly, brand-damaging recalls and other quality issues.”
“We’re pleased to be partnering with ETQ. Coupled with Acerta’s long-standing history of providing AI solutions to large automotive manufacturers, together we will now deliver insights to manufacturers that help them predict and resolve issues with real-time analysis of their shop-floor data, and expert feedback from ETQ Reliance users,” said Greta Cutulenco, Co-founder and CEO, Acerta Analytics. “Our combined solution helps manufacturers work quickly and efficiently to prevent scrap and rework and manage critical quality events.”
ETQ Reliance Quality Analytics
The ETQ Reliance Quality Analytics solution is an AI-driven Predictive Quality Analytics (PQA) application that ingests data from the shop floor via the Acerta LinePulse application. Acerta LinePulse predicts the likelihood of upcoming defects and integrates with the ETQ Reliance QMS to accelerate root cause analysis and speed-to-resolution while also improving predictive algorithms. This early detection and intervention can make a drastic positive impact on critical production KPIs such as scrap and rework, “first time right,” stable production and others.
The solution brings actionable AI to the shop floor by sending early warning alerts when a manufacturing process is at risk of producing defects. These alerts create a quality event in ETQ Reliance so that users can investigate the nature of the alert, determine the resolution to resolve the issue, and return feedback to Acerta LinePulse. By keeping humans in the loop with AI-driven predictive capabilities, customers can reduce field service costs, customer complaints, safety incidents, warranty claims and recalls downstream, while helping product designers, manufacturing engineers and supply chain managers ensure better inputs to the manufacturing process. By reducing the time, it takes to address manufacturing challenges, companies can reduce the number of potential escapes and limit their recall exposure.
The feedback sent from ETQ Reliance to Acerta LinePulse causes the predictive algorithms to continuously learn, and become more effective, accurate over time. Consistently improving predictions using real-time data help make better decisions faster.
Acerta LinePulse brings additional features that improve shop-floor decision making, such as automated root cause analysis and advanced capability monitoring.
Key Features/Benefits:
Manufacturing-specific data ingestion: Collect, analyze and visualize manufacturing data from different sources all in one place, including process data from sensors, environmental data from inside the plant, test results, and quality inspection data.Advanced data analysis: Designed for quality engineers and line operators; no in-house data science expertise is required.Predictive monitoring and alerts: Get alerted about potential quality issues before they occur from the areas of production that make the most impact.Automated root cause analysis: Generate a prioritized list of the most influential signals related to a failed quality inspection or test within minutes.The ETQ Reliance Quality Analytics solution is available immediately and will be sold direct by ETQ, Acerta and other ETQ resellers to both new and existing ETQ Reliance NXG customers.
ETQ Reliance NXG is a comprehensive, cloud-native, analytics-driven quality management system for quality-centric customers in manufacturing, life sciences, electronics, food and beverage, automotive, aerospace, and other industries. The solution is a fully multi-tenant SaaS offering that delivers the limitless power of cloud-native technology to accelerate and elevate quality processes and reduce risk for companies.
Hexagon MI’s Sixth Sense Program and Acerta
Acerta is a member of Hexagon’s Sixth Sense accelerator program launched in January 2022 to assist manufacturing companies by providing them with access to Hexagon’s extensive resources. The program is an open innovation platform that connects companies to address global challenges through manufacturing innovation.
About Acerta
Forged from industrial experience and driven by data science, Acerta helps discrete manufacturers get value out of their manufacturing data. Its ML/AI-powered software enables companies to make the right decisions fast, optimize production, and reduce the costs of poor quality. Acerta translates complex product data into actionable insights.
About ETQ
ETQ, part of Hexagon, is a leading provider of integrated quality management, health, safety, and environmental solutions for manufacturers. Firms around the world rely on ETQ to ensure optimal quality at scale, reduce costs and improve the velocity of data-driven decisions. Learn more at etq.com.
Hexagon is a global leader in digital reality solutions, combining sensor, software and autonomous technologies. Hexagon (Nasdaq Stockholm: HEXA B) has approximately 24,000 employees in 50 countries and net sales of approximately 5.2bn EUR. Learn more at hexagon.com and follow us @HexagonAB
Click here to download a copy of ETQ’s recent industry report: “The Pulse of Quality in Manufacturing 2024.”
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