Minimally Invasive Surgery (MIS) a key driver for orthopedic devices market
The minimally invasive surgery plays a substantial role in the orthopaedic segment with reduced bleeding, surgical trauma, recovery duration, decreased postoperative complications, reduced scars, decreased hospital stays, and better clinical outcomes. As there is increased awareness about the availability of treatment options, and direct to consumer advertising pick-up steam, there is an increased demand for the minimally invasive techniques in orthopaedic surgery to perform more number orthopaedic procedures through limited surgical approaches with accuracy compared to the traditional open surgeries. Minimally invasive surgeries in orthopaedic have undergone a lot of advancement and are now fitting the desired model in the market. As the frequency of orthopaedic diseases is increasing, the expansion of minimally invasive surgeries is also going high to meet the unmet needs for safe and effective treatment in the growing geriatric population.
The orthopaedic devices global market is expected to reach $53,607.2 million by 2027 growing at a high single digit CAGR from 2020 to 2027. The minimally invasive procedure is used to treat the spine, shoulder, elbow, wrist, knee, ankle, and other orthopaedic injuries in all age groups depending on the condition of the patients like body weight, allergic reactions to anesthesia and other health issues and lifestyle. Traditional open surgeries are fading away as large incisions, increased blood loss, and detachment of muscles are observed.
Minimally invasive surgical techniques are joint arthroplasty, minimally invasive transforaminal (1-cm incision is typically made under fluoroscopy at the lateral aspect of the pedicle behind the facet joint of the surgical level), lateral which includes oblique lumbar interbody fusion, direct lateral interbody fusion, and extreme lateral interbody fusion (XLIF). These approaches make it possible to laterally access the anterior and mid-column spine from T12–L5 approach for interbody fusion. These surgical procedures are carried out with computer-assisted navigation system having potential for improving safety and accuracy of spine surgery over the traditional techniques. High-quality registration of the CT images and utilities of stereotactic three-dimensional (3D) cameras allow intraoperative 3D mapping of the joints, bones and spine as well as real-time anatomic tracking of the instruments. Since the first approval of the robotic-assisted surgery system in 2020, the technology has been identified as an emerging technology especially in the field of orthopaedic with more potential to standardize surgical procedures thereby enabling minimally invasive methods of surgery. In this regard, robotic-assisted orthopaedic surgery has opened new frontiers for surgeons around the globe with precision and accuracy. According to IQ4I analysis, globally 7.0 million minimally invasive orthopaedic surgeries are performed during 2020.
Further due to the wide expanse of robotic-assisted surgeries, the key players of orthopaedic devices are getting involved to bring the robotic-assisted surgery systems to the market to make a difference in the space. In May 2019, Zimmer Biomet Holdings Inc. (U.S.) received Food and Drug Administration (FDA) clearance for its ROSA ONE Spine System for robotically assisted minimally invasive surgery and is the only system in the world in providing a platform for brain spine and knee surgery. Medtronic Plc (Ireland) is developing robotic-assisted surgery (RAS) system and in January 2019, the company has launched Mazor X robotic-assisted surgery platform for spinal surgery with real-time image feedback to ensure accurate performance of the surgical procedure. With the increasing shift towards outpatient surgeries using robotics, there will be a huge demand for robotics assisting in orthopaedic surgery, and in this regard, Johnson & Johnson (DePuy Synthes, U.S.) acquired France based company robotic-assisted surgery firm Orthotaxy and has plans for regulatory submission for robotic knee surgery systems during 2020 and its launch. The Orthotaxy robot is smaller in size than the currently commercially available surgical robots and the system has been designed to perform surgery without the aid of disposable instruments thereby saving around $1,500 to $2,500 per procedure.
The average cost minimally invasive surgery including the implant is $40,000 and the open surgery costs around $52,000. However, from nation to nation there is variability in terms of reimbursement for minimally invasive orthopaedic surgeries for instance, there will be reimbursement for minimally invasive surgeries irrespective of the hospital stay in developed nations but in developing and under-developed countries, there will be a mandatory rule to stay in hospitals for days to get the reimbursement.
Currently, minimally invasive surgeries have become gold standards having widespread clinical acceptance due to their advantages over open surgeries and also with the lucrative technological advancement in the field of robotic surgery shows great promise in transforming the orthopaedic segment to a greater height and creating a huge opportunity for the growth of the global orthopaedic device market.
Some of the major companies in providing the implants and solutions for minimally invasive procedures are Stryker Corporation (U.S.), Zimmer Biomet Holdings Inc (U.S.), Smith & Nephew Plc (U.K.), Medtronic Plc (Ireland), Johnson & Johnson (DePuy Synthes, U.S.), Orthofix Medical Inc (U.S.), NuVasive Inc (U.S.), Microport Scientific Corporation (China), Alphatec Holdings Inc. (U.S.), LimaCorporate (Italy), Medacta International SA (U.S.), Conmed Corporation (U.S.), Spine Elements Inc. (U.S.), Exactech Inc (U.S.) AK Medical (China), Globus Medical Inc. (U.S.), B. Braun Melsungen AG (Germany), and others.