The global spinal surgical robots market is growing with a gigantic CAGR of 27.6% throughout the forecasted period for 2019-2025. This is due to the increasing occurrence of chronic back pain in the elderly population. The recently released report by QY Research titled, “Global Spinal Surgical Robots Forecast & Opportunities 2019,” for the predicted period of 6-years, i.e. between 2019 and 2025, highlights the key growth drivers, trends, and restraints that shows the current and future market scenario of the spinal surgical robots market. The research analysts who are dedicatedly working in the healthcare domain predicts that the market is expected to reach at US$ 470 Mn by the end of 2025.
Global Spinal Surgical Robots: Drivers and Restraints
Growing geriatric population, increasing occurrence of spine surgeries, growing adoption of innovative technologies, and rising demand for minimally invasive surgeries are some of the factors that are likely to propel the growth of the global market for a spinal surgical robot. The increasing prevalence of chronic back pain, growing per capita income, and rising efficiency of the existing surgical procedures through robotic surgery are some of the other factors that are expected to fuel the growth of the market in the near future.
Due to their efficiency and precision, robotic surgical procedures are performed rapidly. This means that both surgeons and patients are expose to less radiation as compared to open surgery. Robotic surgical systems allow surgeons to make the smallest incisions that helps the patients to face less risk of infection which leads to drives the growth of the global spinal surgical robot market over the predicted period.
However, the high cost of the product is restricting the growth of the global spinal surgical robots market in the years to come.
Global Spinal Surgical Robots: Segmental Analysis
The global market for a spinal surgical robot is segmented into applications and product type. Based on the product type, the market is segmented into Combining System, and the Separate System.
On the basis of applications, the market is segmented into Spine Fusion and Disc Replacement.
Global Spinal Surgical Robots: Geographical Outlook
North America is expected to grab a remarkable market share in the global market for the spinal surgical robot in the coming years. Europe is also likely to grow at a significant rate over the forecasted period.
Global Spinal Surgical Robots: Key Companies
Globus Medical, Mazor Robotics, TINA VI Medical Technologies, and Medtech S.A are some of the top 4 players that are functioning into the global spinal surgical robot market.
Globus Medical Hits Q4 Revenue and Earnings Estimates
Globus Medical has come out with quarterly earnings of $0.43 per share by beating the Zacks consensus estimation of $0.40 per share. In the last year, the earnings were $0.38 per share. Globus Medical represents a quarterly earnings report with a surprise of 7.50%. A quarter ago it was likely to post earnings of $0.33 per share with a surprise of 18.18%.
During the fourth quarter, the firm has beaten the estimated consensus of earnings per share four times. According to Zacks Rank, the firm holds a #3 for the stock. In the last year, the company earned the revenue of $176.03 Mn. The firm has surpassed its consensus revenue estimates four times over the last fourth quarter.