Specialist
Senior director at Smith & Nephew plc
Agenda
- Key drivers behind continued adoption of robotic-assisted knee reconstruction surgery, including clinical benefits and patient satisfaction
- Competitive dynamics across key players including Zimmer Biomet's (NYSE: ZBH) Rosa, Johnson & Johnson's (NYSE: JNJ) Velys and Stryker's (NYSE: SYK) Mako
- Shift in commercial agreements including volume commitments and benefits to tier 2 players
Questions
1.
What are the key drivers behind robotic-assisted knee reconstruction surgery’s 8% CAGR YoY and how might that trend?
2.
Why have these robotics so far been more popular in knees than hips?
3.
How can we think about the 60% satisfaction number in relation to these robotic-assisted knees?
4.
Could you discuss the market positions of key robotics offerings – Zimmer’s Rosa, Stryker’s Mako and Johnson & Johnson’s Velys – including likely market shares and growth rates?
5.
How did the performance and sales approaches of Rosa, Mako and Velys compare during the pandemic? Who do you think was the most commercially successful?
6.
How are volume commitments from the pandemic driving sales or robotics growth for these players? Has this changed the dynamics of robotics adoption, making it more accessible to more customers?
7.
How are the volume agreements you’ve mentioned impacting players’ revenues or margins, and how might that trend?
8.
Could the new volume agreement dynamic mean the surgeon will be more loyal and there will be less switching?
9.
Do surgeons have multiple options, allowing them to adopt a Rosa and a Mako, for example, or does the volume commitment implementation restrict surgeons to one type?
10.
Which key players might benefit from the trend moving towards more single-source and dual-source agreements, in terms of spending?
11.
What is the pricing pressure outlook for four key orthopaedics players – Smith & Nephew, Zimmer Biomet, Stryker and Depuy – in the short to medium term? You mentioned tier 2 players becoming more competitive with general pricing pressures and market dynamics.
12.
If these dual agreements are introduced over the next few years, might a Stryker, for example, be placed alongside a tier 2 player?
13.
Do Stryker or Johnson & Johnson offer anything similar to Zimmer’s Rosa One Spine? What might drive robotics to expand into other markets, away from traditional hip and knee surgeries over the next 3-5 years?
14.
Could you summarise how beneficial robotics are in orthopaedics?
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