Stryker, a leading medical technology company, has experienced significant growth in its knee segment, which contributed to 11% of its total revenue last year. With a 13% growth in knee sales last quarter and an 8% growth in 2022, the knee business has been a major driver of the company’s success amid the pandemic.
The key factor behind Stryker’s competitive advantage in the knee market is its early adoption of cementless knee procedures. Over the past decade, the company has successfully implanted over 1 million cementless knees, providing patients with a more reliable and durable solution. Lisa Kloes, general manager of Stryker’s knee business, emphasizes the combination of the Mako surgical robot and their cementless knee technology as a major contributor to their growth.
As the demand for orthopedic procedures picks up following the pausing of elective surgeries during the pandemic, Stryker has seen higher growth rates compared to pre-pandemic levels. While there is still a backlog of cases, the availability of operating room time has improved, allowing surgeons to address the demand effectively. Stryker expects the backlog to gradually decrease in the coming year while maintaining a growth rate higher than pre-COVID levels.
The success of Stryker’s Mako surgical robots has been notable in both hospital and ambulatory surgery center (ASC) settings. Surprisingly, ASCs have shown a higher demand for robotic knee procedures than initially anticipated. Over 300 robots have been deployed in ASCs, indicating a successful adoption of the technology in these facilities. Additionally, academic medical centers have also shown significant growth in their adoption of Mako robots, with approximately 70% of joint replacement fellowship programs having access to this advanced surgical technology.
Cementless knees offer a biological fixation solution that allows the patient’s bone to grow into the implant, creating a stronger and more stable integration. This innovative approach has demonstrated superior survivorship and clinical benefits, with a 99% survival rate at the five-year mark, surpassing other cemented or cementless implants. Stryker believes that as they continue to gather more data on the long-term performance of cementless knees, the positive results will further support their market position.
Looking ahead, Stryker aims to expand its product portfolio with the release of the triathlon hinge, a versatile and simplified revision product. It offers surgeons more flexibility in addressing various knee conditions without the need for extensive hardware changes. Early market feedback has been positive, indicating strong potential for this new addition.
In conclusion, Stryker’s cementless knee procedures, coupled with the utilization of the Mako surgical robot, have propelled the company’s growth in the knee business. With a focus on technology-driven advancements and addressing market trends, Stryker is poised to maintain its position as a leader in the orthopedic field.
1. What is a cementless knee procedure?
A cementless knee procedure involves the use of an implant that allows the patient’s bone to grow into the implant, creating a stronger and more stable integration, without the need for cement fixation.
2. Why are cementless knees important?
Cementless knees provide a more durable and reliable solution compared to traditional cemented implants. The biological fixation allows for better long-term survivorship and clinical benefits.
3. How has Stryker’s knee business grown?
Stryker’s knee business witnessed 8% growth in 2022, driven by the combination of cementless knee procedures and the utilization of the Mako surgical robot.