Globus Medical, Inc. GMED recently revealed the positive outcomes of a clinical study, which highlighted the efficiency of its ExcelsiusGPS Robotic navigation over traditional pedicle screw placement techniques. Results of this study reached a milestone for the musculoskeletal solutions major in the field of robotics-assisted, minimally invasive pedicle screw placement procedure.
Outcomes of Study in Detail
The study evaluated the technique, using which the ExcelsiusGPS advanced navigated robotic technology combines the ability to use three imaging workflows (preoperative CT, intraoperative CT and fluoroscopy) with navigation and guidance to place pedicle screws precisely with real-time feedback.
The study sheds light on the system’s ability to revolutionize the way lateral surgery is performed.The study highlighted the success rate of 99% screw placement, with no malposition or post-operative return to the O.R.
Globus Medical is highly optimistic about robust adoption of ExcelsiusGPS, which aids surgeons to successfully perform minimally invasive screw fixation procedures, with the patient remaining in the lateral position compared with conventional lateral approaches, where the patient is intraoperatively repositioned. The eradication of patient repositioning results in enhanced operational efficiency, better patient outcome and cost reduction.
Per Allied Market Research, the global surgical robotics market was valued at $56.29 billion in 2017 and is estimated to reach the market worth of $98.73 billion by 2024, witnessing a CAGR of 8.5% between 2017 and 2024.
Of late, Globus Medical has been investing in several developments, which are likely to strengthen its foothold in the robotics-assisted spine surgery market.
The company recently filed a 510 (k) submission to the FDA for approval of its ExcelsiusGPS interbody module, which is expected to be launched in the third quarter of 2019. This fully-integrated solution is expected to aid surgeons to effortlessly explore a wide array of interbody spaces. These features are unparalleled in the market. The company is also on track to file a submission to the FDA in the third quarter of 2019 for the clearance of its cranial and spine deformity planning solutions, which incorporate Surgimap technology with launches expected by the end of the year.
In 2019, Globus Medical is slated to launch three additional modular platform technologies that will likely boost the effectiveness of ExcelsiusGPS, and will constitute an integrated suite of enabling technologies, which are being branded as Smarter OR.
In the past year, the company has underperformed the industry it belongs to. The stock has dipped 25.5% compared with the industry’s decline of 2%.
Zacks Ranks and Stocks to Consider
Globus Medical currently carries a Zacks Rank #3 (Hold). A few better-ranked stocks in the broader medical space are Masimo Corporation MASI, CONMED CNMD and DENTSPLY SIRONA XRAY, each currently carrying a Zacks Rank of 2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Masimo’s long-term earnings growth rate is projected at 16.1%
CONMED’s long-term earnings growth rate is expected at 13.3%.
DENTSPLY SIRONA’s long-term earnings growth rate is predicted at 11.5%.
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