Take a closer look at surgical robotics stocks, from the biggest names in the industry to lesser-known companies in the development stage.
If surgical robotics stocks continue their rapid advancement, the days of triple-port surgical systems may soon be gone.
Robotics technology is quickly disrupting a variety of economic sectors, including the medical space, and surgical robot applications are a major component in the overall medical robots market. In fact, a Markets and Markets report projects that this industry will reach a value of US$12.7 billion by 2025, up from an estimated US$5.9 billion in 2020.
According to the firm, increased funding for medical robot research and advancements in medical robot technology are seen as the main drivers of this sector.
Surgical robotics companies are developing products for a variety of surgery types, including cardiac, spinal and endoluminal. The tools these firms provide can increase surgeons’ performance ability and can lessen scarring, incisions, blood loss and more. Other benefits of surgical robotics advances include complete control, safer surgeries and a more comfortable recovery.
Here the Investing News Network takes a closer look at surgical robotics stocks to give investors an idea of the biggest names in the industry, as well as lesser-known companies that are still working on product development. The surgical robotics stocks below were gathered using TradingView’s stock screener on July 21, 2021, and are listed in order of market cap from largest to smallest.
1. Medtronic (NYSE:MDT)
Market cap: US$170.74 billion; current share price: US$125.05
First on this list of surgical robotics stocks is Ireland-based Medtronic, one of the world’s largest medical technology companies. The company’s portfolio of medical devices includes surgical, respiratory, patient monitoring, gastrointestinal and hepatology, lung health and renal care products.
The company recently announced a new robot-assisted surgery platform that it claims “is more flexible and cost-effective than systems presently on the market.” The Hugo robotic-assisted surgery system was used in mid-2021 to perform a robotic prostatectomy in Santiago, Chile. The procedure heralds the launch of the Hugo robotic-assisted surgery system patient registry, which the company will use to collect clinical data to support regulatory submissions across the globe.
2. Intuitive Surgical (NASDAQ:ISRG)
Market cap: US$111.89 billion; current share price: US$944.94
Intuitive Surgical is behind the da Vinci system, making it a global leader and one of the best-known surgical robotics companies. Started in 1999, the da Vinci system is used internationally as an aid in cardiac, thoracic, urology, gynecologic, colorectal, pediatric and general surgeries.
In the second quarter of 2021, Intuitive announced a 72 percent increase in net income to US$517.2 million, compared to US$68 million in the second quarter of 2020. The big jump was attributed to the resumption of surgeries that were delayed during the height of the COVID-19 pandemic.
3. Stryker (NYSE:SYK)
Market cap: US$97.46 billion; current share price: US$258.68
Stryker has the Mako robotic arm system for joint replacement assisted surgery. The device can be used in partial knee, total hip and total knee surgeries.
Another popular choice for medical and surgical equipment, Stryker reported US$1.5 billion in orthopedics sales in the first quarter of 2021, a 21.4 percent increase compared to the first quarter of 2020. Neurotechnology and spine net sales increased 14 percent year over year to US$848 million.
4. Smith & Nephew (NYSE:SNN)
Market cap: US$18.74 billion; current share price: US$42.63
A company known for orthopedic reconstruction, advanced wound management, sports medicine and more, Smith & Nephew is on this surgical robotics stocks list because of its Navio surgical system. Navio works in both partial and total knee replacement procedures.
In July, the company launched its Real Intelligence brand of enabling technology solutions, as well as its new-generation handheld robotics platform known as the CORI surgical system. CORI has US Food and Drug Administration (FDA) 510(k) clearance and is available for sale in the US for both total and unicompartmental knee arthroplasty applications.
5. Globus Medical (NYSE:GMED)
Market cap: US$8.02 billion; current share price: US$79.96
Globus Medical develops and commercializes spinal and orthopedic implants and surgical instruments that help surgeons treat patients with musculoskeletal disorders. The company’s offerings include the ExcelsiusGPS robotic navigation platform.
In July, the company announced that over 20,000 spine procedures had been performed utilizing ExcelsiusGPS. Globus said the robotic platform has been shown to increase accuracy, reduce radiation and lessen procedure time compared to conventional spine procedures.
6. Asensus Surgical (NYSE:ASXC)
Market cap: US$635.03 million; current share price: US$2.68
Next on this surgical robotics stocks list is Asensus Surgical, a medical device robotics company that is developing solutions that enhance minimally invasive, performance-guided surgery.
Its products include the Senhance surgical system, a multi-port robotic surgery system that allows up to four arms to control robotic instruments and a camera; it also has the SurgiBot system, a single-port robotically enhanced laparoscopic surgical platform.
In July 2021, Asensus Surgical filed a 510(k) submission with the FDA for an expansion of capabilities on its Intelligent surgical unit, which is used in the company’s Senhance surgical system. “The expansion of augmented intelligence capabilities is the next driver of performance in digital surgery,” said Anthony Fernando, Asensus Surgical’s president and CEO.
7. Titan Medical (NASDAQ:TMDI,TSX:TMD)
Market cap: US$184.01 million; current share price: US$1.68
Titan Medical is a development-stage medical device company focused on robotic single-access surgery. Based in Toronto, Ontario, it has a research and development facility in Chapel Hill, North Carolina.
The company’s Enos system is being developed for single-access surgery, and aims to improve the robotic-assisted surgery experience for patients, surgeons and hospitals. Patient benefits include less trauma and faster recovery times, while positive points for surgeons and hospitals range from faster turnover to lower operating costs. The first indication for use for Enos is benign gynecologic surgery; as of August 2021, the system had been validated in more than 60 animal and human cadaver studies.
Once only listed on the TSX, Titan uplisted to the NASDAQ in mid-2018 in an effort to attract institutional investors. The company has a relationship with Medtronic, including a $10 million license agreement for instrument and camera technologies, and a $30 million co-development and license agreement.
8. Microbot Medical (NASDAQ:MBOT)
Market cap: US$52.1 million; current share price: US$7.33
Last on this surgical robotics stocks list is pre-clinical medical device company Microbot Medical. The company is focused on micro-robotic-assisted medical devices, and has also developed the LIBERTY robotic system, which it says is the world’s first fully disposable robotic system; it is used in neurovascular, cardiovascular and peripheral vascular procedures.
In mid-2021, Microbot received a notice of allowance for its One & Done guidewire technology from China. Other global jurisdictions that have given the green light include the EU, Japan and Israel. Microbot currently holds a total of 44 patents with issued/allowed status and 24 pending patent applications.
This is an updated version of an article first published by the Investing News Network in 2018.
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Securities Disclosure: I, Melissa Pistilli, hold no direct investment interest in any company mentioned in this article.