Stryker – Redefining Medical Technology
January 28, 2019
January 28, 2019
Stryker is one of the world’s leading medical technology companies that offers a diverse array of innovative medical technologies, in the following three segments: Orthopaedics, Medical Surgery, and Neurotechnology & Spine. Stryker has been on Fortune’s “World’s Most Admired Companies” list for over fifteen years in a row. The company is known for its innovative culture and has a product portfolio of close to 60,000 products and a portfolio of over 8,000 patents.
In this patent portfolio report, we dive into Stryker’s technology assets and present related insights and trends.
Figure 1 depicts Stryker’s patent publication trend. The growth of its published patent applications show a steady upward trend for the last 20 years.
Figure 2 shows that Stryker files most of its patent applications in its home country – the USA, followed by filings in the European Union and Japan.
Stryker is known for its medtech innovations. The company is committed to research and development and spent 6.3 percent of its sales on R&D in 2017. Stryker also has an active M&A program and has constantly sought to enhance its technology portfolio and business lines with acquisitions. The company bought Mako Surgical in 2013 for about $1.65 billion. The surgical robotic platform from Mako helped Stryker improve the joint replacement procedures for the surgeons as well as the patients. After the acquisition, Stryker moved its joint replacement products to the robotic system. In 2017, Stryker introduced the robotic-arm assisted Mako Total Knee Application and System 8 power tools.
The company recorded a double-digit organic growth in Endoscopy, Neurotechnology, and Trauma & Extremities in 2017 and exhibited strong performances in Joint Replacement, Instruments and Emergency Medical Services. The acquisitions of the companies Novadaq and Entellus helped Stryker to strengthen its Advanced Imaging for Endoscopy business, and the Instruments business through expansion of the Ear, Nose and Throat (ENT) portfolio respectively.
Our report shows that a large part of the Stryker’s portfolio consists of technology assets related to surgical instruments and methods.
Figure 3 depicts the number of patent assets owned by the company across various technology categories as represented by the individual bubbles. In the figure, the size of a bubble corresponds to the total number of patent applications for a technology category. The bubble proximity corresponds to the “relatedness” of the individual technology categories.
The number of robotic assisted surgeries have grown in recent time and are expected to expand further. A Moody’s report states that Stryker’s Mako robotics platform for knee and hip surgery is one of the key robotic platforms to watch for. According to the report, “Stryker is the leader in the use of robotics for knee and hip replacements, and we believe that the Mako platform has enabled Stryker to gain share”.
To learn more about Stryker’s technology assets and related trends, read our full report.
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