Robotics has enjoyed a widespread application contemporary, but more prominent is its application in medical industry today.
According to Precedence Research, “the global robotics technology market size was estimated at USD 72.17 billion in 2022 and is expected to surpass around USD 283.19 billion by 2032 with a registered CAGR of 14.7% during the forecast period 2023 to 2032.”
Robotics companies that are publicly traded needs to be in the business of selling (generating revenues) as they are in the business of developing. As such most robotics stocks are playing in markets that are ripe for harvesting.
If you are looking for cheap (small-cap) robotics stocks under $5 and $10, below are some stocks to consider:
1. Microbot Medical Inc
Microbot Medical Inc., a pre-clinical medical device company, researches, designs, and develops micro-robotics assisted medical technologies targeting the minimally invasive surgery space.
The company, through its ViRob, TipCAT, and CardioSert micro-robotic technologies, developing Self Cleaning Shunt for the treatment of hydrocephalus and normal pressure hydrocephalus; transformational self-propelled and semi-disposable locomotive device to treat capabilities within tubular lumens in the human body, such as the colon, blood vessels, and the urinary tract; and a combination of a guidewire and microcatheter technologies that are used for endoluminal surgery.
As of April 23, 2019, it had 32 issued/allowed patents and 19 patent applications pending worldwide Microbot Medical Inc. was founded in 2010 and is based in Hingham, Massachusetts.
2. Myomo Inc
Myomo, Inc., a wearable medical robotics company, designs, develops, and produces myoelectric orthotics for people with neuromuscular disorders in the United States.
The company offers MyoPro, a myoelectric-controlled upper limb brace or orthosis used for the purpose of supporting a patient’s weak or deformed arm to enable and improve functional activities of daily living, ADLs, in the home and community.
Its products are designed to help restore function in individuals with neuromuscular conditions due to brachial plexus injury, stroke, traumatic brain injury, spinal cord injury, and other neurological disorders.
The company sells its products to orthotics and prosthetics providers, the Veterans Health Administration, rehabilitation hospitals, and through distributors.
Myomo, Inc. was incorporated in 2004 and is headquartered in Cambridge, Massachusetts.
3. Asensus Surgical Inc
Asensus Surgical Inc, a medical device company, engages in the research, development, and sale of medical device robotics to enhance minimally invasive surgery.
The company’s products include Senhance System, a multi-port robotic surgery system that allows multiple robotic arms to control instruments and a camera; and SurgiBot System, a single-port system robotically enhanced laparoscopic surgical platform.
It offers its products directly and through distributors in Europe, the United States, Japan, Taiwan, and other select countries.
The company was founded in 2006 and is based in Morrisville, North Carolina.
4. Greenland Technologies Holding Corporation
Greenland Technologies Holding Corporation, through its subsidiaries, develops and manufactures transmission products for material handling machineries in the People’s Republic of China.
The company offers transmission products, such as mechanical and hydraulic gearboxes; and transaxles to small and medium-sized forklift trucks for use in manufacturing and logistic applications, such as factories, workshops, warehouses, fulfillment centers, shipyards, and sea ports. It also develops robotic cargo carriers.
The company was founded in 2006 and is based in Hangzhou, the People’s Republic of China.
5. Stereotaxis, Inc
Stereotaxis, Inc. designs, manufactures, and markets robotic systems and instruments for the treatment of abnormal heart rhythms in the United States and internationally.
Its products include Niobe ES robotic magnetic navigation system that enables physicians to complete interventional procedures by providing image guided delivery of catheters through the blood vessels and chambers of the heart to treatment sites; and Vdrive system, which offers navigation and stability for the diagnostic and therapeutic devices designed to enhance interventional procedures.
The company also offers Odyssey solution, a real-time information solution to manage, control, record, and share procedures across networks.
In addition, it provides disposables and other accessories, such as QuikCAS automated catheter advancement disposables for the remote advancement of electrophysiology catheters; and CARTO RMT navigation and ablation system, CELSIUS RMT, NAVISTAR RMT, NAVISTAR RMT DS, NAVISTAR RMT THERMOCOOL, and CELSIUS RMT THERMOCOOL irrigated tip diagnostic/ablation steerable tip catheters.
Further, the company’s disposables and other accessories include V-CAS and V-CAS Deflect catheter advancement systems; and V-loop circular and V-Sono ICE catheter manipulators. The company markets its products through direct sales force, distributors, and sales agents.
The company has a strategic collaboration with Osypka AG to design and develop a next-generation magnetic ablation catheter using Stereotaxis’ robotic technology. Stereotaxis, Inc. was founded in 1990 and is headquartered in St. Louis, Missouri.
6. Viomi Technology Co
Viomi Technology Co., Ltd, through its subsidiaries, develops and sells Internet-of-things-enabled (IoT-enabled) smart home products in the People’s Republic of China.
The company offers IoT-enabled smart home products, including smart water purification systems; smart kitchen products, such as refrigerators, oven steamers, dishwashers, range hoods, and gas stoves; and other smart products comprising air conditioning systems, washing machines, water heaters, smart water kettles, sweeper robots, smart locks, and other smart devices.
It also provides a suite of complementary consumable products; and value-added services.
The company sells its products directly to consumers through its official Website, Viomi Store mobile app, and e-commerce channels, including Youpin, JD.com, Tmall, and Suning, as well as offline experience stores.
It has a strategic partnership with Xiaomi Corporation. Viomi Technology Co., Ltd was founded in 2014 and is headquartered in Guangzhou, China.
7. ReWalk Robotics Ltd (NASDAQ: RWLK)
ReWalk Robotics Ltd., a medical device company, designs, develops, and commercializes robotic exoskeletons for individuals with mobility impairments or other medical conditions in the United States, Europe, the Asia-Pacific, and Africa.
The company offers ReWalk Personal and ReWalk Rehabilitation for spinal cord injuries and everyday use by paraplegic individuals at home and in communities; ReStore, a soft exo-suit intended for use in the rehabilitation of individuals with lower limb disability due to stroke in the clinical rehabilitation environment; and MyoCycle and MediTouch tutor movement biofeedback devices for use at home or in clinic.
It markets and sells its products directly to third party payers; institutions, including rehabilitation centers; and individuals, as well as through third-party distributors.
The company was incorporated in 2001 and is headquartered in Yokneam Ilit, Israel.