What's Happening?
Medtronic has received approval from the Food and Drug Administration (FDA) for its Altaviva device, a neuromodulation therapy designed to treat urge urinary incontinence. The device is inserted near the ankle and sends electrical impulses to the tibial nerve, aiming to restore communication between the bladder and the brain. This approval positions Altaviva as a significant market opportunity for Medtronic, which already offers the Interstim sacral neuromodulation device for similar conditions. The Altaviva device is expected to open up the market further due to its less invasive nature compared to sacral nerve modulation.
Why It's Important?
The approval of Medtronic's Altaviva device is significant as it addresses the needs of millions of patients suffering from overactive bladder (OAB) and urge urinary incontinence. The device's 15-year battery lifespan offers a competitive advantage over similar products from Bluewind Medical and Valencia Technologies. Medtronic's CEO, Geoff Martha, has emphasized the potential for Altaviva to capture market share and drive growth in the company's pelvic health unit. This development could lead to increased sales and expansion in the neuromodulation market, benefiting both Medtronic and patients seeking less invasive treatment options.
What's Next?
Medtronic plans to capitalize on the large, underpenetrated OAB market opportunity by accelerating growth in its pelvic health unit. The company has made significant changes to its commercial organization in pelvic health, which, despite short-term impacts, are expected to drive long-term growth. As Medtronic continues to expand its neuromodulation offerings, it may face competition from existing devices by Bluewind Medical and Valencia Technologies, but the unique features of Altaviva could help it secure a strong position in the market.
