16 Jul 2020
Posted in Medical Devices
Smith & Nephew to be key player in robotics surgery market with hand-held robotic platform
Following the launch of Smith & Nephew’s new hand-held robotic platform for knee replacement surgery;
Aliyah Farouk, Medical Device Analyst at GlobalData, a leading data and analytics company, offers her view:
“GlobalData expects Smith & Nephew to be a key player in the robotics surgery market with the launch of its new unique robotics platform. The key to market domination in this sector is typically product innovation and Smith & Nephew’s design sets it apart from competitors, placing the company in a strong position to infiltrate the market. The robotics surgery market, which is forecast to be worth $10bn in 2028 according to GlobalData, is currently led by Intuitive Surgical.
“Major orthopedic devices manufacturers are increasing their research and development efforts within robotic surgical systems. The landscape is rapidly changing with an increase in surgical procedures driving the installed base of surgical systems within hospital institutions. However, COVID-19 has led to the cancellation and postponement of elective procedures worldwide. In the US, the resumption of procedures has come to a halt in some areas as health systems deal with the new surge of COVID-19 patients.
“Smith & Nephew is particularly exposed to downturns in sales in orthopedic and general surgery, the two major business segments of the company. The company realizes around 50% of its revenues from North America. Since the US has the highest number of COVID-19 cases, the impact will be felt majorly in these business units.”