The field of surgery is being largely shaped by breakthroughs in computer technology and AI. One of the latest healthcare IT trends to watch out for is robot-assisted surgery. This is revolutionizing treatment by providing the most accurate and expert assistance to human surgeons in the most challenging cases. The ultimate aim of robotic surgery is to enhance clinical outcomes for patients through minimally-invasive surgery.
Robotic Surgery Gains Ground
Robotic surgery is steadily carving its niche across a wide array of surgical fields within MedTech. In neurosurgery, image-guided robots enable the examination of brain lesions without resulting in any major damage to adjacent tissues. Within this sphere of MedTech, application of surgical robots limits intra-operative x-ray exposure and occupational hazards that are likely to happen during 2-D fluoroscopy. Per the Journal of Neurosurgery, Accuray’s CyberKnife was the first-ever platform that enabled the execution of the entire procedure without direct surgeon-patient contact and with complete control, even from a remote location.
In orthopedics, robotic surgery helps shape the femur to precisely fit prosthetic hip-joint replacements. Currently, an increasing number of orthopedic surgeons are opting for robot-assisted surgery for knee, hip and spine.
Robot-assisted surgery has also been finding its application in urology, especially in prostatectomy. Complex gynecological surgeries have also been witnessing the increasing adoption of robotics, using the Da Vinci Surgical System.
With the rise in mechatronics application, surgical robots are fast making their presence felt in every sphere of MedTech. Going by a Medgadget report, the global surgical robots market is anticipated to see a CAGR of 22.75% from 2017 to 2023.
Several MedTech companies have been accelerating innovation to enhance their surgical proficiencies and solidify their presence in the robotics-aided healthcare market. In this regard, TransEnterix’s (TRXC - Free Report) Senhance Surgical Robotic System needs a mention. Focused on minimally-invasive surgery, this system offers advanced technologies like haptic feedback and eye sensing camera control. Accuray’s (ARAY - Free Report) CyberKnife fully-robotic stereotactic radiosurgery systems and stereotactic body radiation therapy systems on the other hand are used to treat multiple types of cancer and tumors.
3 Stocks to Keep An Eye On
We have picked three companies, which we believe can tap the booming prospects of the minimally-invasive robotic surgical devices market. Apart from a Zacks Rank #2 (Buy) or 3 (Hold), these stocks have a favorable estimate revision trend.
Intuitive Surgical (ISRG - Free Report)
This Zacks Rank #3 company designs, manufactures and markets the advanced robot-assisted da Vinci surgical system and related instruments and accessories. The company’s recent earnings estimate revision has been promising. Current and next-year earnings estimates have seen four upward revisions in the past 60 days.
Intuitive Surgical, Inc. Price
Intuitive Surgical’s robot-based da Vinci surgical system enables minimally-invasive surgery. The company launched an upgrade to its flagship Vinci Xi technology — da Vinci X — in 2018. Notably, the Xi suite is designed to seamlessly integrate innovation such as advanced instrumentation, surgical skills simulation and software upgrades into one dynamic platform.
Medtronic (MDT - Free Report)
This Zacks Rank #2 company is one of the largest medical technology, services and solutions companies in the world. The company’s recent earnings estimate revision has been impressive. Current and next-year earnings estimates have seen three and 10 upward revisions, respectively, in the past 60 days.
Medtronic PLC Price
In 2018, Medtronic acquired Mazor Robotics, an Israel-based robotic surgical guidance system provider. Following the completion of the transaction, Medtronic launched the Mazor X Stealth Edition robotics guidance platform in January 2019 and has received positive feedback for the same. At the end of fiscal 2019, Medtronic’s share in spine robotic market increased to more than 70%.The strong rollout of the Mazor X Stealth-navigated robotic system has boosted the global major’s Restorative Therapies segment.
Stryker (SYK - Free Report)
This Zacks Rank #3 companyis one of the world’s largest medical device companies in the global orthopedic market. The company’s current and next-year earnings estimates have seen 15 and 13 upward revisions, respectively, in the past 60 days.
Stryker Corporation Price
Mako is Stryker’s robotic-arm assisted surgery platform. In recent times, Stryker launched the robotic-arm assisted total knee arthroplasty application for use with its Mako System. Notably, this is the first and only robotic technology which can be used for total knee, hip and partial knee replacement procedures.
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