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Wright Medical Group
About Wright Medical Group
Wright Medical Group, Inc. Engages in the design, manufacture, and distribution of biologic products. It provides surgical solutions for the foot and ankle market and its products include large joint implants for the hip and knee, extremity implants for the shoulder, elbow, hand, wrist and foot and biologic products, including bone graft substitutes. The company was founded by Frank O. Wright in 1950 and is headquartered in Arlington, TN.
Wright Medical Group Company StatsAs of May 2017
IndustryHealth Care Equipment & Services
HeadquartersArlington, Tennessee
Chief Executive OfficerRobert J. Palmisano
The Surgical Scalpel Market's Explosive Growth: Global Opportunity Analysis And Industry Forecast Forecast From 2023 - 2030 With A CAGR Of 10.6%.
The MarketWatch News Department was not involved in the creation of this content.
Apr 24, 2023 (Prime PR Wire via Comtex) -- The "Surgical Scalpel Market" is segmented into regions, Applications, and Types. The report presents the research and analysis provided within the Surgical Scalpel Market Research is meant to benefit stakeholders, vendors, and other participants in the industry. This report is of 144 pages long. The Surgical Scalpel market is expected to grow annually by 10.6% (CAGR 2023 - 2030).
Surgical Scalpel market outlook (2023-2030) provides a thorough analysis of the market's current state, including factors such as market size, growth rate, segmentation, and key players. This Surgical Scalpel market research report can be executed using various tools and methods, such as surveys, and industry reports.
This Surgical Scalpel market report also analyzes the current state of the market, This market outlook also includes predictions for its future growth. This includes forecasts for market size, growth rate, and segmentation, as well as an analysis of potential drivers or constraints that could impact the market's future. The predictions made in the outlook are based on various factors such as economic indicators, industry trends, and historical data. It can be used to identify potential opportunities for growth or areas of risk for businesses.
Another important aspect of this Surgical Scalpel market outlook is the identification of key trends and factors that are likely to shape the market in the future. This includes technological advancements, changes in consumer behavior, and modifications in regulations or policies. By understanding these trends, businesses can develop strategies to capitalize on them and stay ahead of the competition.
The global Surgical Scalpel market size is projected to reach multi million by 2030, in comparision to 2021, at unexpected CAGR during 2023-2030 (Ask for Sample Report).
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What is Surgical Scalpel?
The surgical scalpel is a ubiquitous tool in the healthcare industry and is widely used in surgical procedures for incisions and dissection. Its importance lies in the precision and accuracy it provides, making it an indispensable tool for surgeons. With the growing demand for minimally invasive surgeries, the popularity of surgical scalpels has only increased in recent years. The market for surgical scalpels is expected to witness significant growth in the near future, driven by factors such as the rising prevalence of chronic diseases, an increase in surgical procedures, and technological advancements in surgical equipment. Industry players are investing in Research and Development to create innovative and cost-effective surgical scalpels to meet the demand of the growing market.
Market Segmentation Analysis
The surgical scalpel market can be classified into two types - blade and handle market. In the blade market, there are various types of blades available such as conventional blades, disposable blades, and others. The handle market includes different types of materials like plastic, metal, and others, which are used to hold the blades during surgical procedures.
The surgical scalpel market finds its application in hospitals, clinics, and other healthcare settings. Hospitals are the largest consumers of surgical scalpels as they perform a wide range of surgical procedures, including orthopedic, cardiovascular, and neurosurgical. Clinics also use surgical scalpels for minor surgical procedures. In addition to these, the surgical scalpel market also caters to other settings such as ambulatory surgery centers, emergency care centers, and others. The increasing number of surgical procedures and rising demand for minimally invasive surgical techniques are some of the key factors driving the growth of the surgical scalpel market.
In terms of Product Type: Blade,Handle, the Surgical Scalpel market is segmented into:
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In terms of Product Application: Hospital,Clinic,Others, the Surgical Scalpel market is segmented into:
Key Companies & Market Share Insights
Surgical scalpel is a surgical tool that is used to cut biological tissues during surgical procedures. Several companies are operating in the market for surgical scalpels, including Hill-Rom, Swann-Morton, KAI Group, Feather, BD, Mani, Huaiyin Medical, Surgical Specialties, Shinva, SteriLance, Hu-Friedy, Ailee, Shanghai Surgical, and Geister. However, some of the market leaders in the surgical scalpel market are Swann-Morton, KAI Group, and BD, who have a strong market presence and a wide range of products.
New entrants in the surgical scalpel market face a challenging entry barrier due to the presence of key players and stringent regulatory guidelines. However, by leveraging advanced technologies and innovative approaches, new companies can gain a foothold in the market and make their mark.
The above-listed companies can help to grow the surgical scalpel market by developing advanced, high-quality, and safe surgical scalpels, expanding their product portfolio, and reaching out to new markets for growth opportunities.
Sales revenue of a few companies in the surgical scalpel market are:
- Swann-Morton: $63 million (Source: Owler)
- KAI Group: $382 million (Source: Business Wire)
- BD: $ billion (Source: BD website)
The available Surgical Scalpel Market Players are listed by region as follows:
Surgical Scalpel Market Regional Synopsis 2023 - 2030:
The surgical scalpel market is expected to grow significantly across various regions, including North America, Asia Pacific, Europe, the United States, and China. North America is expected to dominate the market due to the increasing prevalence of chronic diseases, growing aging population, and high demand for minimally invasive surgeries. The region is predicted to hold a substantial market share percentage valuation due to the presence of established healthcare infrastructure and high adoption of advanced medical technologies.
The Asia Pacific region is also expected to grow significantly due to technological advancements, rising disposable income, and increasing demand for surgical procedures. The growing geriatric population and improving healthcare system infrastructure in the region are expected to drive market growth.
Europe is estimated to witness significant growth due to the increasing number of surgeries and rising healthcare expenditure. Also, the United States and China are anticipated to grow substantially due to the high prevalence of chronic diseases, increasing healthcare spending, and growing demand for surgical procedures.
Overall, the North American region is likely to dominate the market, holding a significant market share percentage valuation, followed by Asia Pacific and Europe, respectively.
The list of the regions covered are: North America: United States, Canada, Europe: GermanyFrance, U.K., Italy, Russia,Asia-Pacific: China, Japan, South, India, Australia, China, Indonesia, Thailand, Malaysia, Latin America:Mexico, Brazil, Argentina, Colombia, Middle East & Africa:Turkey, Saudi, Arabia, UAE, Korea.
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The Impact of Covid-19 and Russia-Ukraine War on Surgical Scalpel Market
The Russia-Ukraine War and Post Covid-19 Pandemic are likely to have a significant impact on the surgical scalpel market. The market is expected to experience a slowdown due to geopolitical tensions and reduced healthcare spending in affected regions. This could lead to a shift in demand towards lower-cost disposable scalpel options.
As healthcare facilities prioritize the treatment of Covid-19 patients, there may be a delay in elective surgeries that could negatively impact the demand for surgical scalpels. However, the market is expected to recover as healthcare spending resumes and the backlog of elective surgeries is addressed.
Some major benefactors in the market could be manufacturers that offer diverse, cost-effective product offerings that can meet the evolving needs of healthcare providers. Additionally, as healthcare facilities focus on infection control measures, there may be increased demand for disposable scalpel options. Overall, the surgical scalpel market is expected to remain stable, with moderate growth expected in the long term.
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Key Findings in the Surgical Scalpel Market Study:
Market studies are an essential tool for businesses looking to understand their industry and competitors. Important details, like the following, can be gleaned from a market study:
The Surgical Scalpel market research report contains the following TOC:
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Owning the Surgical Scalpel company's reports will assist in resolving the following problems:
Key Questions Covered in this Surgical Scalpel Market Research Report
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What's On The Horizon In Surgical Robotics?
The Luna surgical robotics platform [Image courtesy of Asensus Surgical] While question marks remain over where medtech is going, the path for surgical robotics remains full of excitement.Medical technology has experienced a bit of a rocky period lately. Layoffs continue to hamper the space, and financial outlooks are a bit cloudy for some companies.
However, there remains plenty to look forward to in the coming year and beyond. Several companies expect product launches soon, and many big names project significant financial improvements, despite doubts cast by the state of the industry.
One area that always garners a lot of interest surgical robotics.
We've previously covered 16 surgical robotics companies you need to know — plus eight more to check out after that. We'll feature many of those companies below as we look ahead to what's coming up in surgical robotics. Plenty of positives remain, while some questions linger.
Asensus Surgical's new Luna platformIn February, Asensus Surgical unveiled its next-generation surgical robot platform, called Luna.
Asensus designed Luna as an integrated digital surgery solution. It features a next-generation surgical platform and instruments, plus real-time intraoperative clinical intelligence. Its final component, a secure cloud platform, applies machine learning to deliver clinical insights. Luna enables Asensus' vision of performance-guided surgery, President and CEO Anthony Fernando told MassDevice in an interview.
"We already have the Senhance platform, and we've learned a lot from that platform," Fernando said. "[We've learned] what surgeons appreciate, what can be improved and where we can actually make a difference. We then looked at all the other players on the market or who are planning to be on the market. Luna kind of addresses all of that."
Luna features state-of-the-art magnification capability with haptic feedback. Asensus incorporated an "extra step" to make it the best system for the surgeon and the operating room team, Fernando said.
"The true differentiator is the intelligence or the digital capability, the intelligence capability," he explained. "That will really give a significant advantage to the surgeon and help reduce variability and also reduce fatigue."
Fernando said the company hopes to get Luna to regulators by the end of 2024 with eyes on getting it to market by mid-2025.
Another big step for Asensus came in March when the FDA granted an expanded pediatric indication for its Senhance robotic surgery system. It's the first and only digital laparoscopic surgery solution for pediatric patients.
Stryker's Mako 2.0 and more Stryker's Mako robotic-arm assisted surgery system [Image courtesy of Stryker]The first in an expected string of launches for new Mako technologies from Stryker came in March when the company unveiled the Mako Total Knee 2.0.Mako Total Knee 2.0 includes a new, intuitive design with customizable workflows. Other key features include a digital tensioner for assessing knee stability intraoperatively during total knee arthroplasty (TKA). It does not require additional instrumentation.
"It takes everything that we've learned over those six years and all those procedures and puts them into an advanced application that is way more intuitive, even for the surgeons," Don Payerle, president of Stryker's Joint Replacement division, told MassDevice. "If you've been a user for many years, it really streamlines your activity. If you're a new user, it really steps you through what you need to do to perform the total knee once you know what your workflow is. It allows you to customize it so that you can tailor it to exactly how you want it to go."
Stryker's big plans for MakoStryker CEO Kevin Lobo teased future Mako updates during the company's fourth-quarter earnings call. In addition to Mako Total Knee 2.0, Stryker plans for two Mako launches next year. It plans to initially launch Mako Spine in the second half of 2024, followed by Mako Shoulder by the end of 2024.
Payerle said Lobo was "the courageous leader who put a stake in the ground" with regard to Mako. According to Payerle, Lobo strove to be a leader in the space. Stryker has pioneered robotics for joint replacement.
"That move was made a number of years ago, and we remain committed to be at the forefront of innovation and market leaders, which we are today," Payerle said.
He expects the company to continue using Mako as "the anchor for musculoskeletal procedures." Having established itself in the hips and knees space, Stryker has goals to push even further into broader areas.
"We don't plan to stop there," Payerle said. "We want to continue to push the envelope within the markets that we're in — hips and knees — and provide more value there over time and continue to expand it, particularly for spine and shoulder in the near term. We're not done."
Medical Design & Outsourcing: Stryker on steroids: How enabling technology will supercharge surgical robotics
Zimmer Biomet has high hopes for Rosa and ZBEdge The Rosa Hip system [Image from Zimmer Biomet]According to Liane Teplitsky, president of global robotics, technology and data solutions at Zimmer Biomet, the Warsaw, Indiana-based company is "ahead of the game" in orthopedic surgical robotics.With its Rosa platform and the ZBEdge Dynamic Intelligence platform for hip and knee surgeries, Teplitsky said the company has its enabling technologies under one umbrella.
"We've really worked to build it from the ground up," Teplitsky told MassDevice. "For us, that's actually a pretty big differentiator. We have the infrastructure across all these platforms, which really makes ZBEdge.
"What we're trying to do across ZBEdge — whether that's Rosa or Persona IQ — whatever it happens to be, the goal of ZBEdge is to make anyone that interacts with it smarter, faster, and better."
She describes Rosa as a multi-application, orthopedic surgical robot platform "designed to work with the surgeons, not for them." Surgeons can evaluate rows of screens intraoperatively without needing to look outside the field of view.
An even more exciting future?Teplitsky said the next steps — currently under review at the FDA — include maneuvering the Rosa screens in mixed reality. Surgeons would use voice commands or just eye gaze to control the surgical robot system.
"We're going to be able to visualize things that we've never been able to visualize before," she said. "It's looking at basically taking a CT scan that you can then overlay on the current anatomy and understand exactly where you want to go. It's pretty similar to like a video game. That's pretty awesome."
The aim at Zimmer is to bring together a full experience with the integration of its surgical technology with its best-in-class implants. Teplitsky said the company plans to continue to "iterate on what Rosa has to offer and continue to make it smarter, faster, better."
So our mission at Zimmer Biomet is to alleviate pain and improve the quality of life for people around the world," she added. "I truly believe that with ZBEdge and what we're bringing to market with the best-in-class implants, we're going to change the standard of care in orthopedics.
"This industry is ready, and patients are ready to have improved outcomes and improve their quality of life and reduce their pain. I think we can do it, leveraging technology, so I'm excited. It's going to be a fun few years here."
Pushed back timing at IntuitiveThe leader in the surgical robotics space generated attention with its fourth-quarter earnings call, but for the wrong reasons. Intuitive Surgical CEO Gary Guthart spooked investors when he said the company does not expect to launch its highly anticipated multiport surgical robotics system in 2023.
With its Da Vinci Xi robotic surgery system, Intuitive continues to dominate the space. [Image courtesy of Intuitive]Despite that disappointment, Intuitive still has other launches set for this year. Guthart said the company routinely updates its platform operating systems and recently launched its next-generation Endoscope Plus visualization platform. Further upgrades are expected in 2023."We expect to launch additional [next-generation]-compatible products and operating system software this year," Guthart said. "Concurrently, we invest in new generations of our multiport platform that bring new and significantly enhanced capabilities."
Question marks over Medtronic and Johnson & Johnson's surgical robotics effortsTwo of the biggest names in medtech remain two of the biggest unknowns in the surgical robotics space.
Medtronic's Hugo robotic surgery system [Image from Medtronic]Medtronic's Hugo platform remains investigational in the U.S. The system earned European approval in October 2021. Currently, hospitals across three continents use it in a range of procedures within urology, gynecology and general surgery.The company announced the first urologic and gynecology procedures with Hugo in Latin America and Asia-Pacific in 2022. The first patient procedure took place in Chile in June 2021. It soon performed the first procedure in Europe in February 2022, following its CE mark. A clinical trial in the U.S. Continues.
However, Medtronic has also had some organizational restructuring involving its surgical robotics efforts. In March, Medtronic confirmed the consolidation of its Surgical Robotics and Surgical Innovations operating units. It formed the businesses into a single Surgical operating unit.
Recently, BTIG analysts questioned whether Medtronic has differentiated Hugo enough to displace Intuitive, though they thought Hugo will find a place in certain markets outside the U.S.
"We continue to believe that for many high-volume surgeons, especially within the U.S. And Europe, the switching costs will be too immense initially as ISRG continues to enhance its ecosystem," said Ryan Zimmerman, Sam Durno and Iseult McMahon at BTIG. "A vast number of surgeons want choice in their robotics system, and while we're not discounting this, we think MDT's entrance into the U.S. Will be measured."
Meanwhile, little has been revealed by Johnson & Johnson since it unveiled its Ottava surgical robot in November 2020. Just under one year after the unveiling, the company said it experienced a "temporary setback" with Ottava, resulting in a two-year delay in its development timeline.
More uncertainty arose as layoff notices filed in California in March confirmed that Johnson & Johnson is letting go of nearly 350 employees in the surgical robotics space. The notices list layoffs involving 292 workers at Auris, 47 at Verb Surgical, and four at Ethicon Endo-Surgery. All of the jobs were based in Santa Clara County.
In a statement shared by a spokesperson, the company said: "We continue to be excited about and committed to our Ottava program. We look forward to delivering a competitive soft tissue robotic solution. We expect to provide an update on our progress later this year."
Others to watch in the surgical robotics space this yearWhat else should you look out for in surgical robotics? A number of companies recently reported exciting developments for their businesses. Here are a few:
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