Mentions of robotics within the filings of companies in the medical devices industry fell 49% between the third and fourth quarters of 2021.
In total, the frequency of sentences related to robotics during 2021 was 52% higher than in 2016 when GlobalData, from whom our data for this article is taken, first began to track the key issues referred to in company filings.
When companies in the medical devices industry publish annual and quarterly reports, ESG reports and other filings, GlobalData analyses the text and identifies individual sentences that relate to disruptive forces facing companies in the coming years. Robotics is one of these topics - companies that excel and invest in these areas are thought to be better prepared for the future business landscape and better equipped to survive unforeseen challenges.
To assess whether robotics is featuring more in the summaries and strategies of companies in the medical devices industry, two measures were calculated. Firstly, we looked at the percentage of companies which have mentioned robotics at least once in filings during the past twelve months - this was 28% compared to 19% in 2016. Secondly, we calculated the percentage of total analysed sentences that referred to robotics.
Of the 10 biggest employers in the medical devices industry, Medtronic was the company which referred to robotics the most during 2021. GlobalData identified 70 robotics-related sentences in the Ireland-based company's filings - 0.8% of all sentences. J&J mentioned robotics the second most - the issue was referred to in 0.2% of sentences in the company's filings.
This analysis provides an approximate indication of which companies are focusing on robotics and how important the issue is considered within the medical devices industry, but it also has limitations and should be interpreted carefully. For example, a company mentioning robotics more regularly is not necessarily proof that they are utilising new techniques or prioritising the issue, nor does it indicate whether the company's ventures into robotics have been successes or failures.
In the last quarter, companies in the medical devices industry based in Western Europe were most likely to mention robotics with 0.07% of sentences in company filings referring to the issue. In contrast, companies with their headquarters in Asia mentioned robotics in just 0.04% of sentences.