Mazor Robotics recently announced the receipt of CE Mark for its Mazor X Surgical Assurance Platform. This will allow the company to market Mazor X in the European Union with its commercial partner Medtronic (MDT - Free Report) .
Per management, Medtronic will be responsible for marketing the system in Europe. The platform will be displayed at the EUROSPINE conference in Dublin, Ireland. Since its launch, Mazor X has received encouraging demand. In fact, Mazor Robotics’ broad product spectrum has been a key growth driver.
Mazor X in Focus
Installations: In the last reported quarter, the company received purchase orders for 19 surgical guidance systems, which include 16 Mazor X systems and three Renaissance systems.
Of these, seven were for Mazor X, primarily from a major U.S. hospital corporation. Two out of three Renaissance system orders were from distribution partners in Australia and Thailand. Mazor Robotics’ system backlog at the end of the second quarter totaled 14.
On a global basis, the company ended the second quarter with 170 systems worldwide, with 113 in the United States.
Mazor X Align Software: Earlier this year, the company had announced the receipt of FDA clearance for its Mazor X Align software. The software is designed to assist surgeons in planning spinal deformity correction and spinal alignment for procedures performed with the Mazor X Surgical Assurance Platform.
We are encouraged by opportunities in the global spine surgery market. A research report by Markets And Markets suggests that the niche markets will reach a worth of $17.27 billion by 2021, at a CAGR of 5.3%.
Meanwhile, the company faces stiff competition from the likes of Zimmer Biomet Holdings (ZBH - Free Report) and Intuitive Surgical (ISRG - Free Report) .
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.
Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.
Click here for the 6 trades >>