US company Intuitive Surgical has seen continued growth within the surgical robotics market in both revenue and installed base. Amid rising competition, the company continues to demonstrate strong growth within the surgical robotics market with an installed base of 5,114 systems as of 31 March and a 15% increase in revenue to $974m in Q1.
Robotic surgery companies
As competitive pressure increases from companies such as Stryker, Medtronic [Mazor Robotics], and Johnson & Johnson [Auris], Intuitive Surgical needs to remain innovative to maintain its position as the market leader.
Recently, Intuitive Surgical was able to attain the US Food and Drug Administration 501(k) clearance for its Ion endoluminal system, which is a new standalone system used to perform tissue biopsies. This approval allows Intuitive to directly compete with Auris’ Monarch System, which is a peripheral bronchoscopy surgical system. Johnson & Johnson purchased Auris for $5.7bn in February 2019.
Johnson & Johnson poses a real threat to Intuitive Surgical’s market share, as Johnson & Johnson’s subsidiary Ethicon is already a prominent player within the surgical energy market and can create favourable and affordable alternatives for hospitals in regard to surgical robotic system offerings.
As major players enter the market and an increase in minimally invasive surgery allows the increased adoption of surgical robotic systems, each company will need to differentiate its portfolio in this space in order to have an edge over the competition.
GlobalData expects that the surgical robotic systems market is going to drastically change from the current market dynamics within the next five years.