There is a surgical robot much beloved by orthopedic surgeons, it has been referred to as 'the Robodoc.' Why is the Robodoc (the world's first automatic surgical robot) prized by global medical circles To learn what is behind the Robodoc's popularity, Korea IT Times interviewed Lee Kyeong-hoon, CEO of Curexo Inc.
The two most well-known surgical robots are the da Vinci Surgical System and the MAKO Surgical Robot. The da Vinci Surgical System is designed for operations on internal organs such as the heart, while the MAKO Surgical Robot is for surgery used to sculpt the knee and replace only what is necessary. However, both robots are not complete. Thus far, the Robodoc of Curexo Inc. is the only mechanism that deserves the title of being the world's first and best medical robot.
Performing complete automatic knee surgery is impressive, but more striking is that the patent on the Robodoc is held by a Korean SME called Curexo Inc. "I have so far encountered many naysayers who were skeptical of the possibility of a Korean SME breaking into the global market with creative items. However, as we have come so far to put our business on the right track, Curexo Inc. is not thirsting for the attention of the Korean government, large companies and consumers", said CEO Lee.
As of now, the Robodoc has been better received by overseas markets than in the domestic market. Foreign buyers, especially Japanese buyers such as distributor Nakasima Group and sub-distributor Komikan Minota Group signed a contract with us to guarantee shipments of 100 units for five years. This high demand for the Robodoc stems from their aging population.
As nations, especially those in the developed world, suffer from aging populations and low child birth rates, the artificial knee joint market continues to grow annually by 15%. Take Korea for instance, the market for artificial knee joints is advancing at a pace of 27% annually. The number of knee replacement surgeries or knee arthroplasty surgeries stands at 1.5 million per year worldwide. The number of joint replacements is also held at 1.5 million. Thus, nearly 3 million joint replacement operations are performed manually. However, in manual surgeries the surgeon's techniques and former experiences play a pivotal role in the outcome of one's result. Therefore, manual and robot assisted surgeries differ in terms of accuracy and life-span of artificial joints.
Robots pave the way for more precise and speedy surgical operations
When it comes to knee replacement operations, achieving alignment is the most important factor in the outcome of the surgery. When inserting an implant it must precisely passes through the very center of the disk, therefore making surgery performances on the knee and the ankle very tricky. If the angle is slightly off, the weight of gravity will be unevenly dispersed due to the resulting unconformity. As a result, reconstructive surgery is unavoidable. In other words, the implant whose lifespan is roughly 15 years is highly likely to result in malfunctions around the third year after the joint replacement surgery.
Kayla Yoon, Planning and PR Team Manager of the Adminstration department explained, "There is nothing more satisfactory than robots performing precise and safe surgeries. Although robotic surgery is slightly more expensive than manual surgery, robot-assisted surgery is cheaper in the long run due to the likelihood of not having to get the surgical incision reopened for repair, that situation makes up less than 1% of the circumstances. Additionally, it's not necessary for patients to be hospitalized for more than one week. So in many ways, it is more economical."
Domestically, 10 Robodocs have been sold in Korea and they are widely employed in the surgical field and internationally, 10 Robodocs are being used in Japan. Since the American based company, Curexo Technology Corporation (CTC), manufactures the Robodoc, Korean hospitals are having to import these products from the US. As a result, research and development project for Korean-made Robodocs is in the final stage and will be completed by the end of this year. Korean-made Robodocs expected to be on the market next year.
Hyundai Heavy Industries is the world's fifth largest manufacturer of industrial robots, though it is better known as being the world's No. 1 ship making conglomerate. Hyundai Heavy Industries pay keen attention into the high value-added medical robot market as new growth engine.
Since Curexo Inc. is the gateway to the global medical robot market, forming a close relationship with them is a must, even for global giants like Hyundai Heavy Industries.
Holding the patent on the Robodoc is a tremendous asset
Curexo Inc. has the patent on the Robodoc as well as six other patents under its belt. Moreover, it also has the right to use over 42,000 patents held by IBM. How is this possible The story dates back to 1985 when the development of the Robodoc began. In the beginning, IBM and the University of California, Davis (UC Davis) jointly took part in the development of creating robots when ISS, a spinoff of IBM, took over the R&D department. During the taxing process of obtaining FDA approvals, ISS felt the financial pinch, consequently resulting in being absorbed by Curexo Inc.
As such, the roots of the Robodoc lie with IBM, which is very advantageous to us. Any company who wished to make a foray into the medical robot market cannot circumvent Curexo's patents. Indeed, Curexo's intellectual property rights and patents are the company's huge asset and core competency.
A new wind is blowing in the medical robot market after the emergence of the Robodoc. As the number of joint replacement operations are three times as many as that of da Vinci-assisted operations, the market for the Robodoc has a much larger growth potential than the da Vinci Surgical System.
For your reference, as of now, the sales of the da Vinci Surgical System amount to 1.5 trillion KRW per year and its operating profit is 40%.
CEO Lee added, "The Robodoc is armed with patent-yielding power, so I'm sure that it will soon take center stage of the global medical robot market, thereby greatly contributing to the Korean economy. I have no doubt that opportunity will present itself in two to three years." As the interview came to a close, he called on the Korean government and companies for more attention and support.
