Hip and Knee Orthopedic Surgical Robot Device Markets at $84 million in 2015 are anticipated to reach $4.6 billion by 2022 as next generation robotic devices, systems, and instruments are introduced to manage surgery.
Knee and hip surgical robots provide consistent reproducible
precision. This capability is so
significant for implant surgery that the robots are positioned to become the
defacto standard of care for knee and hip surgery within five years. Any one getting a knee or hip replaced will
demand attention to quality of life, to maintenance of lifestyle provided by a
robot when they have a joint replacement.
As next generation systems, hip and knee robotic units
provide a way to improve traditional orthopedic hip and knee replacement
surgery. Total hip replacement surgery
has evolved dramatically as advances in technology have brought improved
surgical techniques. Surgical robots are
a significant art of that advance.
Once, the penetration achieves this 35% level, all
orthopedic surgeons will demand that hospitals offer robotic orthopedic
surgical capability because the outcomes are more predictable and better. If the hospital does not offer the robot, the
surgeon will move to a more modern facility.
Knee and Hip Surgical Robots have been impacted by the
reduction in insurance payments. Payment
reductions have forced hospitals to start acting as businesses. The cost of delivering care has become as
much a factor as providing quality care when making decisions about patient
improvement in condition. Cost-cutting
has been made in the supply chain.
Suppliers were examined closely for quality and cost.
The number of suppliers is reduced to put pressure on the
ones that remain. Those remaining are
pressured to improve prices and efficiencies. Hospitals, physicians, and care providers have been financially
incentivized to create accountable care organizations (ACOs). Coordinated patient care plans and value-based
purchasing were rewarded. The med device
buyer shifted from physicians to the ACOs and smart buying groups.
Stryker has thrived in this cost efficient environment with
a surgical robot that permits faster surgeries, more cost efficient surgeries. In addition, Stryker offers an integrated
system. The ability to include a Mako
total knee application with Stryker Triathlon total knee system is anticipated
to increase market share for Stryker.
Stryker market leading Triathlon total knee system is helped in the
market by the robot simply by the improved surgical technique possible. Surgical robots are proving themselves in a
variety of disciplines, lending credibility to the Stryker robotic initiative.
According to Publisher, “Use of
the robot with the orthopedic implant represents a key milestone in
reconstructive surgery. Robots provide
an opportunity to transform orthopedics.
By furthering the growth of roboticarm assisted surgery, patients can
get better treatment. By enhancing the
surgeon and patient experience is is likely that the entire orthopedics implant
market will grow more rapidly than it would otherwise.”
Stryker uses the Mako to perform partial knee resurfacing
and is happy to add robotic capability to total knee resurfacing. Technology is enhancing a wide variety of
procedures in many surgical specialties.
The aging US population has supported demand, since the occurrence of health issues that require medical devices is higher in the elderly population. Buoyed by strong demand and sales, industry profit margins have increased considerably during the past five years.
Hospitals are adopting robotic surgical devices to improve
their outcomes numbers. Hospitals are
measured on outcomes, robots for surgery, when used by a trained physician are
improving outcomes significantly.
Hundreds of universities worldwide have research programs in robotics
and many are awarding degrees in robotics.
These “roboticists” are increasingly being hired by Global 2000
organizations to link mobile robots (mobile computers) into existing IT
systems.
Robot-assisted surgery gives the surgeon better control over
the surgical instruments and a better view of the surgical site.
The complete report provides a comprehensive analysis including procedure numbers, units sold, market value, forecasts, as well as a detailed competitive market shares and analysis of major players’ success, challenges, and strategies in each segment and subsegment. The reports cover markets for knee and hip robotic orthopedic surgery medical specialties and sub-specialties.