Duluth Medical Technologies:
A USA Silicon Valley Based Robotic Surgery Device Company
Market : The global surgical robotics market was valued at $56.3 billion in 2017 and is expected to reach $98.7 billion by 2024. According to Global Market Insights, U.S. knee replacement market alone is valued at $3.3 billion in 2017 and will expand significantly with growth of 3.8 percent from 2018-2024. The Global Total Knee Replacement Market is projected to reach $13 billion by 2024. The growing geriatric population base suffering from degenerative diseases such as osteoarthritis and the availability of superior quality medical devices/components will favor market growth. Also, an increase in the disposable income will positively affect market growth.
Regulatory: The outpatient advisory panel for the federal Center for Medicare, Medicaid Services recommended that the government insurer for people age 65 and older start covering total-knee replacement surgery in same-day surgery center. Several robotic systems now have FDA clearance for total-knee replacements.
Product : The Duluth system consists of a surgical robot and virtual reality imaging eyewear. The robot is table mounted and provides the physician with stability and guidance during the procedure. The robot facilitates proper positioning of the surgical instruments as guided by the physician through the procedure. The virtual reality eyewear integrates with the eyewear the surgeon currently uses to provides guidance of the procedure progress toward the final implant position and installation. Artificial intelligence is integrated into the system to optimize procedural technique based on training algorithms.