We are just a step away from the age of robots. Robots will very soon invade our lives in a gigantic manner with an overwhelming presence across a wide range of industries. Medical device conglomerate, Stryker Corporation’s latest product, Mako has already invaded into the operation theatres to perform complex surgeries such as joint, hip and knee replacement. Robotic arm assisted total knee application, Mako was commercially launched in the American Academy of Orthopaedic Surgeons (AAOS) by Stryker Corporation.
It is the first and only robotic technology that has application in joint replacement service lines to perform total knee, total hip and partial knee replacements. Surgical procedures with Mako Stryker robotic system, as reported by many surgeons , are faster, better and have less blood loss and less complications.
Mako priced at $1.5 million to $2 million is the only robot that carries out joint replacement procedures. In an age where hospitals are trying to reduce the cost of hip and knee replacement, Maco is an expensive piece of equipment but Maco’s makers are confident that it would be accepted widely by hospitals because of the precision it offers. Maco brings in a disruptive technology which allows movement of implant within millimeters.
Mako’s acquisition by Stryker in 2013 for $1.65 billion was a foresighted move especially because no players in Orthopaedics had imagined that such procedures could be conducted by a robot. Stuart Simpson, vice president and general manager, Stryker opined that the clinical and economic benefits that Mako yields would compel hospitals to quickly take it up. He said that a gamut of financing options was available to ease the uptake of Mako by hospitals. Mako’s total knee application had obtained FDA approval in 2015 but Stryker did not carry out a wide sales roll out. The usage of Mako initially was limited to only 65 hospitals in the US, the UK, Germany and Australia. Mako is now ready for full launch and it is expected that the success of its partial knee applications will encourage its usage in total knee operations.
Mako has considerably reduced the cost of complications and readmissions. The cost of complications and readmission was 66 percent lower in the case of Mako. A survey conducted by RBC Capital Markets reveals that Stryker will imminently take away a major pie of the market from Zimmer Biomet and Johnson & Johnson Depuy in robotics. Orthopaedic surgeons believe that new robotic systems would experience high demand in the US market and Stryker is a clear market leader with 90% of the U.S. robotic hip/knee market. US surgeons are anticipating 82% and 56% year-on-year growth in their robotic hip/knee procedures in 2017 and 2018, respectively.
Stryker, a billion-dollar conglomerate is now eyeing India as a lucrative market and will soon launch 20 new products in the Indian market. Emerging markets contribute about 8% of the company’s sales. According to a study conducted by Infoholic Research, the Global Medical Robots Market is expected to reach $17.58 billion by 2023, growing at a CAGR of 22.0% during the forecast period 2017–2023. The increased adoption of medical robots in hospitals and pharmaceuticals, growing ageing population, and increasing patients’ preference for minimally invasive surgeries are forcing organizations to focus on developing innovative solutions. Mako’s personalized surgical experience is transforming the world of orthopaedics and it is expected to be a clear winner the field of medical robotics.
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