Stryker, Zimmer and Globus reported double-digit sales growth in their robot segments and outlined plans for new products.
Orthopedics companies posted record robot sales in the first quarter, even as they plan new product launches in the second half of 2024.
Stryker reported record installations of its Mako surgical robot in the first quarter, although it didn’t share an exact number. Jason Beach, Stryker’s vice president of finance and investor relations, said the company has seen “really good results” from direct-to-consumer ads promoting the surgical robot to people who might consider a hip or knee replacement.
CEO Kevin Lobo said Mako placements are also picking up outside of the U.S., including in India, which has the highest rate of robot utilization, Korea, and parts of Europe.
“That is a gift that will keep on giving,” he told investors in an April 30 earnings call.
The placements drove Stryker’s other orthopedics and spine segment to grow 41% year over year to $133 million.
Globus Medical also reported a busy quarter for robotic procedures, which grew 15% year over year. “This was our highest Q1 since launch,” CEO Dan Scavilla told investors on Tuesday, referring to the company’s enabling technology segment, which includes Globus’ Excelsius robotics and imaging platforms.
Scavilla also sees an opportunity to sell the company’s robots to Nuvasive customers, following Globus’ $3.1 billion acquisition of the spine specialist last year.
By Elise Reuter | MEDTECHDIVE
Image Credit: Stryker
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