The largest companies in the spine market are increasingly focused on digital technologies to drive market share gains. The importance of a robust technology portfolio seemed to intensify coming out of the pandemic. In late 2020, Globus Medical said it entered the early phases of a “technology transformation” to closely integrate procedural solutions with digital technologies.
Since then, the company’s enabling technology sales have grown rapidly. Our chart of the month shows Globus Medical’s quarterly enabling technology sales from late 2017 to the midpoint of 2023. The company notched record enabling sales of $35 million in the second quarter and surpassed 54,000 robotic procedures since launch.
Globus drove impressive results for its enabling technology in a very dynamic capital market that saw a quick shift toward prioritizing rentals and volume-based agreements. The company is probably a bit unique in that a majority of its enabling technology deals are still outright sales, though Globus said it remains flexible in response to macro factors.
Looking ahead, Globus is preparing to launch an augmented reality headset and increased its R&D focus on expanding its solutions to cover the comprehensive continuum of care. In the second quarter of 2023, the company announced it expected $1.125 billion in standalone sales for the year.
The largest companies in the spine market are increasingly focused on digital technologies to drive market share gains. The importance of a robust technology portfolio seemed to intensify coming out of the pandemic. In late 2020, Globus Medical said it entered the early phases of a “technology transformation” to closely integrate...
The largest companies in the spine market are increasingly focused on digital technologies to drive market share gains. The importance of a robust technology portfolio seemed to intensify coming out of the pandemic. In late 2020, Globus Medical said it entered the early phases of a “technology transformation” to closely integrate procedural solutions with digital technologies.
Since then, the company’s enabling technology sales have grown rapidly. Our chart of the month shows Globus Medical’s quarterly enabling technology sales from late 2017 to the midpoint of 2023. The company notched record enabling sales of $35 million in the second quarter and surpassed 54,000 robotic procedures since launch.
Globus drove impressive results for its enabling technology in a very dynamic capital market that saw a quick shift toward prioritizing rentals and volume-based agreements. The company is probably a bit unique in that a majority of its enabling technology deals are still outright sales, though Globus said it remains flexible in response to macro factors.
Looking ahead, Globus is preparing to launch an augmented reality headset and increased its R&D focus on expanding its solutions to cover the comprehensive continuum of care. In the second quarter of 2023, the company announced it expected $1.125 billion in standalone sales for the year.
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Mike Evers is a Senior Market Analyst and writer with over 15 years of experience in the medical industry, spanning cardiac rhythm management, ER coding and billing, and orthopedics. He joined ORTHOWORLD in 2018, where he provides market analysis and editorial coverage.
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