“New product innovation, a steady demand for superior products by surgeons, and increasing procedure volumes will likely fuel growth over the next five years… It is expected that the hernia repair segment will become increasingly competitive over the next five years as small, niche companies expand product development and licensing options.”
Kalorama Information, Nov 2012 Report
ArTack Medical is a privately held, medical device company developing a variety of tools for the multi-billion dollar minimally invasive surgery market.
The tools are based on the Company’s patented Drive Platform, which allows the delivery of torque through a 5mm shaft.
ArTack Medical's first device is the eTack for hernia mesh fixation. eTack offers a comprehensive solution that will revolutionize hernia mesh fixation without changing basic surgical techniques.
The eTack tackles the major drawbacks of traditional mesh fixation procedures and is part of the global trend to convert even the most conservative surgeon from manual to motorized devices.The Company’s solutions are aligned with the accelerating demand for minimally invasive surgery as well as the growth in robotic surgical solutions
ArTack Medical at a Glance
With a high hernia incidence rate, hernia repairs are one of the most common surgical procedures. Over 1.2 million procedures are performed annually in the United States and the Company estimates that there are 3 million hernia repairs performed annually worldwide. According to a recent report from healthcare market research publisher Kalorama Information, the hernia repair device market (which consists of products such as mesh materials, devices including fixation, equipment such as endoscopes, and instruments such as hand tools) has grown at a steady pace of 4.8 percent per year since 2008, reaching $3.5 billion in 2012. The total addressable market for eTack is about $0.5 billion per year