The underlying fundamentals of the orthopedic industry remain unchanged due to COVID-19. However, we should prepare for significant alterations in the market landscape as well as the ways that we interact with colleagues and customers.
Orthopedic sales for the company declined 9.5% in 1Q20 before dropping by nearly half through April. However, the company sees initial recovery signs as countries gradually restart elective procedures.
What is the last exciting news you recall hearing about DePuy Synthes' knee franchise? Its competitors have dominated both industry news cycles and the market itself. Rajit Kamal, Vice President and Global Knee Franchise Leader at DePuy Synthes, aims to change that through a combination of hardware and technology.
Naviswiss closed a CHF 5 million (USD $5 million) round of private equity funding to support product development and entrance into new markets with its surgical navigation for joint replacement procedures.
Parvizi Surgical Innovation made a minority investment in Navbit, developer of a disposable, single-use surgical navigation system to support accurate positioning of the acetabular cup during hip replacement.
Data collected using the Comprehensive Care for Joint Replacement model suggests that if Smith & Nephew's OXINIUM bearing surface was used in all U.S. primary hip procedures in 2020, it could yield ~$296MM in savings to the nation's health system.
The global hip joint replacement market grew 3.2% in 2018 vs. 2017, reaching revenue of USD $7.6 billion. We project that the market will reach $8.9 billion by 2023. In this article, we'll dive deeper into 2018 performance from companies like Zimmer Biomet, Stryker, DePuy Synthes, Smith & Nephew, Medacta and DJO, and review results from 1Q19.
DePuy Synthes announced the Anterior Advantage Matta Method in 1Q19. The namesake of the program, Joel Matta, M.D., is a surgeon at The Steadman Clinic, Co-founder and Chairman of the Anterior Hip Foundation and a pioneer of the anterior approach. He began using the anterior approach in the late '90s and has remained dedicated to the technique, noting that it results in tissue preservation and shorter recovery time. More than two decades later, he remains committed to teaching and advancing the anterior approach.
Zimmer Biomet and Apple have co-developed mymobility, an Apple Watch app designed to facilitate connection between hip and knee replacement patients and their surgical care teams. We believe that the announcement is indicative of forthcoming multi-industry digital health collaborations and products that will seek to shape orthopaedic care primarily in hip and knee recon.
The 1H18 performance of companies that make up ~80% of the joint reconstruction market achieved 4.1% growth vs. 1H17. These companies posted 2.4% growth in 1H17 vs. 1H16. Here is a look at past activity and future predictions for hip, knee and extremities.
DePuy Synthes signed a definitive agreement to acquire the assets of Medical Enterprises Distribution, developer of the ME1000 Surgical Impactor for use in hip replacement. The transaction is slated to close in 2Q18.
Orthopaedic device manufacturers' ability to gain market share in the total knee and hip reconstruction spaces will be dependent upon their response to the shift of procedures to ambulatory surgery centers an uptick in bundled payments and any or all measures focused around cost. That was the message we took away from our conversations at the American Academy of Orthopaedic Surgeons Annual Meeting.
Strategic orthopaedic-related 510(k)s issued in June 2017 include: Telix K Interbody System (Biedermann Motech); iTotal Hip Replacement (ConforMIS); Tranquil Interbody System (Nexus Spine); PHA S1 Spinal System (Phamedica); Total Hip Arthroplasty Device (Responsive Orthopedics/Medtronic); Interbody Fusion System (Spinal Analytics & Geometrical Implant); Channel Cervical Interbody System (Summit Spine); Coalesce Lumbar Interbody Fusion System (Vertera Spine)
Stryker Howmedica Osteonics/Stryker Orthopaedics informed courts that 95% of additional registered eligible patients have enrolled in its Settlement Program relative to revisions of the Rejuvenate Modular-Neck hip stem and/or ABG II Modular-Neck hip stem.
The Trillennium Man was made with 3D scans of knees, hips and shoulders compiled into morphs that show the change in joint shape over the last 350 million years, and what joints might look like 4,000 years from now.
What's on the horizon for joint reconstruction? We posed that question to Orhun Muratoglu, Ph.D., a materials expert, as well as Director of the Harris Orthopaedic Laboratory and Director of the Technology Implementation Research Center (TIRC) at Massachusetts General Hospital.
Ethicon and DePuy Synthes commenced U.S. launch of wound closure kits customized for orthopaedic surgery, including STRATAFIX™ Knotless Tissue Control Devices and the DERMABOND® PRINEO® Skin Closure System.
OrthAlign received FDA 510(k) clearance to market the Direct Anterior Approach HipAlign® system, a handheld computer that provides cup placement accuracy data and measurement changes in leg length and joint offset.
Corin was awarded a 5A* ODEP rating from the Orthopaedic Data Evaluation Panel for its MiniHip™ bone conserving hip, MetaFix™ collarless cementless total hip and the Trinity™ advanced bearing acetabular system.
Lima Corporate was awarded three new Orthopaedic Data Evaluation Panel ratings for hip implants in the U.K. The ratings are intended to indicate that a device's clinical performance falls in line with National Institute for Health and Care Excellence guidelines for implant survivorship.
Stryker Orthopaedics reached an agreement to compensate additional eligible U.S. patients who underwent surgery to revise a Rejuvenate Modular-Neck hip stem and/or ABG II Modular-Neck hip stem prior to 12/19/16.
Zimmer Biomet announced positive outcomes associated with use of Trabecular Metal™ Cups in >9,500 revision hip arthroplasty cases, as reported in data from the National Joint Registry for England, Wales, Northern Ireland and the Isle of Man.
Wright Medical received a binding offer under which Corin Orthopaedics would acquire Wright's hip/knee business for 29.7MM in cash (~US $33MM). The proposed transaction is expected to close by early 4Q16.
Corin received FDA 510(k) clearance to market the Optimized Positioning System (OPS™), reportedly the first FDA-cleared technology to support functional, patient-specific component alignment in total hip replacement.
Medtronic acquired Responsive Orthopedics, a start-up focused on sales of low-cost hip and knee replacements. A primary knee is slated for commercial U.S. availability within 1H17, followed by a primary hip in 1H18.
Lima Corporate entered into an Innovation Alliance Agreement with the Hospital for Special Surgery. New product co-developments include a Trabecular Titanium total elbow and an advanced acetabular cup.
OrthAlign successfully completed limited release of the OrthAlign Plus® for Total Hip Arthroplasty device for use in the direct anterior approach. The product will commence full launch at the AAOS Annual Meeting in March 2016.