Here are four key developments in spine and orthopedic robotics during the third quarter of 2023.
1. The spine surgery robot market is expected to grow at a compound annual growth rate of 14 percent between 2023 and 2031, according to Transparent Market Research.
2. Stryker remains on track to deliver Mako shoulder and spine applications in 2024, CEO Kevin Lobo said in an Aug. 3 earnings call. Mr. Lobo said in the call he wasn't concerned about competition in the spine and orthopedic robotic space and pointed to upcoming developments within the company.
3. Monogram Orthopaedics' next surgical robot reached the verification phase in its commercialization path. THe company aims to have the robot ready for surgeries in 2024.
4. Teslake, a medical device manufacturer, is starting a series A capital raise to support the development of "mini spine robots" and their antimicrobial proprietary alloy. The mini robots under development are designed to assist spine surgeons and guide the spine to its natural position. The devices aim to improve precision and enhance safety.