Spine health market likely to grow in the future

PHILADELPHIA — Spine disease is an untapped sector of biotechnology and one of the biggest markets in the United States, according to data presented here at the Philadelphia Spine Research Symposium.

Phil Maurer, MD, director of spine and advanced pain management for Aria 3B Orthopaedic Institute, said the spinal field is the third-most expensive medical field in the United States, behind only cancer and arthritis for total cost of health care in the United States. However, spine impairment is the No. 1 cause of suffering worldwide, and spine-related disability outpaces diabetes, tuberculosis, pre-term birth and malaria, according to Maurer.

“We have 63 million to 90 million potential patients for that therapeutic, an estimated 1 billion worldwide,” he said. “On market in the U.S., $90 billion in current costs is spent on spine disease and back pain, surgical and non-surgical. Total cost is estimated at $200 billion if you look at employers paying people on disability payouts. There is a huge amount of human capital loss.”

Currently, about $20 billion is spent in the United States on drug analgesics for the spine market, and $150 billion is spent on total hospital spine surgeries, according to Maurer.

He also estimated that there is currently about $25 billion available for investment capital in biotechnology in the United States.

“Spine disease is an untapped sector of biotechnology waiting for a therapeutic,” Maurer said. “It certainly has the market and, if you do the numbers, look at a market share analysis and value, it is certainly worth a lot of money. So, go innovate and collaborate.” — by Robert Linnehan

Reference:

Maurer P. Innovating biotechnology and the future of spine health. Presented at: Philadelphia Spine Research Symposium; Oct. 28, 2014; Philadelphia.

Disclosure: Maurer has no relevant financial disclosures.