The Brisbane medical innovation of the world’s smallest cannulated compression screw by Field Orthopaedics is in high demand in 20 US states before it’s official launch at the American Academy of Orthopaedic Surgeons (AAOS) Annual Meeting from March 12 to 16 in Las Vegas, USA.
Hospitals and distributors in 10 US states have requested access to the product before its official launch and another 10 US states are eagerly awaiting to commence discussions, but have had to be waitlisted to manage manufacturing timeframes around the demand.
With the U.S. orthopaedic devices market projected to exceed USD 53 billion by 2024*, due to the increasing demand for minimally invasive surgeries and a growing geriatric population base, Field Orthopaedics is uniquely positioned to capitalise on this with strong sales in the coming months.
Whilst projected figures will not be disclosed by Field Orthopaedics CEO Dr Chris Jeffery, he said the company was overwhelmed by the enthusiasm from US surgeons, with more than 40% of the country already discussing purchasing Field Micro Screw Kits before the official launch.
“This unprecedented success is great news for an Australian company that is new to the US region and is building its market presence from the ground–up since receiving FDA approval last year.
“We brought the Field Micro Screw prototype to the 2018 AAOS event and received great feedback on its design and potential. To bring the completed product back one year later, having achieved FDA approval and creating the whole system for 65 times cheaper and 2.5 times faster than the average cost and time to develop a medical device in the US, is an impressive achievement.”
At the 2019 AAOS Annual Meeting, Dr Jeffery and Dr Greg Couzens, world-renowned hand surgeon and Field Orthopaedics co-founder, will showcase the Field Micro Screw System for the first time since it began manufacture and was used in a world-first operation in Brisbane on 30 January, 2019.
“The AAOS is the world’s premier gathering of orthopaedics professionals and our presence there to meet with surgeons, hospital teams and leading orthopaedics groups is exciting and critical to the success of the Field Micro Screw,” he said.
“The product has been created to improve efficiency with the fixation of small fragments. The Micro Screw is 12% smaller and can generate compressive strength twice the magnitude of existing products.
“Thanks to its cannulation that facilitates precise insertion and its improved mechanical features, the Micro Screw provides exciting innovation to an area of surgical practice where every millimetre of bone counts and compressive strength is proportional to patient outcomes.”
The Field Micro Screw Kit features a range of 1.5 mm and 2.0 mm diameter cannulated compression screws ranging in length from 6 mm to 16 mm in 1 mm increments, 0.6 mm single trocar K-wires of 70 mm length plus a specifically designed instrument kit, tailored to the insertion of the 1.5 and 2.0 FO Micro Screw.
In 2018, the Field Micro Screw System won Product Design Gold at the 2018 Australian Good Design Awards® for its ergonomic design and ground-breaking storage, safety and sterilization capabilities.
“Our next focus is its commercial success in the US and then in other markets around the world once we achieve the approvals necessary. Closing our initial sales will place us in a strong position to continue marketing the Field Micro Screw System and help propel forward our other products in development,” Dr Jeffery said.
* https://www.odtmag.com/contents/view_online-exclusives/2018-05-09/us-orthopedic-devices-market-to-witness-massive-growth-over-2017-2024/48607
MEDIA CONTACT: Nicole Fisher 0419 661 085
About Field Orthopaedics
Field Orthopaedics (FO) is a rapidly growing Australian Orthopaedic devices company that focuses on the design and manufacturing of orthopaedic devices to address the shortcomings in the trauma, extremities and biological markets. With their team of surgeons, engineers and researchers, FO has created a range of orthopaedic devices that provide evidence-based solutions for longstanding concerns in extremity surgery.
Currently, the company has seven projects in the entire portfolio, four of which are in active development expected to gain regulatory approval within the next three years. Formed to bring back innovation to medicine, FO creates products that address under-serviced markets and that realise solutions to problems impacting patient care and outcomes. FO was created from within the medical community, with the founders forming a significant collaboration with surgeons and physicians to identify their greatest industry problems and work alongside them to create innovative solutions.
FO is passionate about innovation and utilises profits to support ongoing orthopaedic research. The team believes that collaboration is the key to innovative design and is proud to develop and manufacture products that not only make sales, but also make a positive difference by empowering users and greatly improve outcomes.
