|Boston Scientific's Precision Spectra--Courtesy of Boston Scientific|
Company: Boston Scientific ($BSX)
2012 revenue: $367M
2013 revenue (estimated): $422M
2018 revenue (projected): $648M
The scoop: Coming in at number 2 on the list, Boston Scientific's neuromodulation division has traditionally focused on treating neuropathic pain in what is a small but fast-growing sector at the company. The segment is an important one to CEO Mike Mahoney's strategy to return Boston Scientific to annual growth. Revenue for the neuromodulation unit grew 9% in 2012 and is expected to accelerate its expansion over the next few years under the leadership of Boston Scientific neuromodulation president Maulik Nanavaty. Much of that growth has come from the company's Precision spinal cord stimulation system, first approved in April 2004 as a neurostimulation implant to treat chronic pain in the body, arms and legs.
|Boston Scientific Neuromodulation President Maulik Nanavaty|
Execs are betting on new neurostimulation revenue, in part, through next-generation Precision devices. Last April, for example, Boston Scientific's Precision Spectra spinal cord stimulation implant won the FDA's OK to treat chronic back pain, following a CE mark in December 2012 and launches in Europe, Australia and Japan. Nanavaty explained to FierceMedicalDevices at the time that the approval was the culmination of 7 years of work. The Precision Spectra is outfitted with 32 contacts and four lead ports, Boston Scientific noted back then, which placed it in the lead compared to competing products.
Boston Scientific also sees a future in using neuromodulation to treat Parkinson's disease. In June, the company began a large-scale U.S. clinical trial using its Vercise deep brain stimulator as a treatment for Parkinson's disease. Vercise, which gained a CE mark back in September 2013, delivers electrical stimulation through leads into the brain, with the intent of improving motor function and quality of life in Parkinson's patients. It is also paired with 3-D imaging technology that lets physicians customize treatment by targeting stimulation for each patient.
Vercise performed well based on 6-month data from a previous trial that showed it delivered 60% average improvement in motor function in 40 patients with 100% implant success.
Boston Scientific targets FDA with brain-stim trial
Boston Scientific launches next-gen pain device in the U.S.