Medtronic saw record sales for its spine robots in the fourth quarter of fiscal year 2022 even as the market is loaded with competition.
The company saw record sales for the StealthStation navigation, O-arm and Mazor robots for spine surgery, CEO Geoff Martha said in a May 26 earnings call. The record sales were reported despite a largely unchanged revenue in Medtronic's entire neuroscience segment in the fourth quarter.
Medtronic has been working to keep pace with a growing field of spine robots in the market in 2022. In March, the company named Mike Marinaro its operating unit president for surgical robotics.
Two of Medtronic's leading competitors in spine robots are Globus Medical and NuVasive. Both launched technology in direct competition to Medtronic's Mazor X Stealth Edition within the last year. Smaller competitors include Brainlab's Cirq spine robot and Accelus' Remi robot.