Dhawan Ravi, Boyle Alex B, Nair Akshay, Shay Denys
Department of Epidemiology, Harvard T.H. Chan School of Public Health, Boston, MA, USA; Department of Orthopedic Surgery, Emory University School of Medicine, Atlanta, GA, USA.
Department of Health Policy and Management, Harvard T.H. Chan School of Public Health, Boston, MA, USA.
Spine J. 2025 Jan;25(1):55-58. doi: 10.1016/j.spinee.2024.09.014. Epub 2024 Sep 26.
Venture capital (VC) plays a vital role in advancing spinal surgery technologies, driven by the growing burden of spinal disorders and high healthcare costs. Despite increasing interest, trends in VC funding for spinal surgery remain understudied.
This study aimed to examine temporal and thematic trends in VC investments in spinal surgery companies from 2000 to 2023.
STUDY DESIGN/SETTING: A retrospective cross-sectional study analyzing VC investment trends in privately held US-based spinal surgery companies.
Using the PitchBook database, we analyzed 1001 VC investments in 227 spinal surgery companies between 2000 and 2023. Investments were categorized into surgical devices, noninvasive devices, biotechnology, surgical software, and clinical services. Total and annual investments were quantified in USD.
From 2000 to 2023, $5.37 billion was invested in spine surgery, with nonsurgical devices receiving the largest share (42.6%), followed by surgical devices (26.3%) and biotechnology (22.2%). Annual investment increased by 1782%, with a decline in 2023 likely due to macroeconomic factors.
VC funding in spinal surgery has grown significantly, especially in noninvasive technologies. Further research is needed to assess the long-term impact of these investments and explore alternative financing models.
由于脊柱疾病负担不断加重以及医疗成本高昂，风险投资（VC）在推动脊柱外科技术发展方面发挥着至关重要的作用。尽管人们的兴趣日益浓厚，但脊柱外科领域风险投资资金的趋势仍未得到充分研究。
本研究旨在探讨2000年至2023年期间风险投资对脊柱外科公司投资的时间和主题趋势。
研究设计/地点：一项回顾性横断面研究，分析美国私营脊柱外科公司的风险投资趋势。
利用PitchBook数据库，我们分析了2000年至2023年间对227家脊柱外科公司的1001笔风险投资。投资分为手术器械、非侵入性器械、生物技术、手术软件和临床服务。总投资和年度投资均以美元量化。
2000年至2023年期间，脊柱外科领域的投资达53.7亿美元，其中非手术器械获得的份额最大（42.6%），其次是手术器械（26.3%）和生物技术（22.2%）。年度投资增长了1782%，2023年的下降可能是由于宏观经济因素。
脊柱外科领域的风险投资显著增长，尤其是在非侵入性技术方面。需要进一步研究来评估这些投资的长期影响，并探索替代融资模式。
