The global surgical robotics market is expected to reach $19.96 billion by 2028, expanding at a CAGR of 21.4%. Robotics and automation continue to transform specialty surgical disciplines by enabling superior precision, control and access compared to manual techniques.
The rapidly evolving landscape has seen both legacy medtech conglomerates and innovative startups compete to tap into the high-growth potential. I analyze the 10 largest surgical and medical robotics companies that currently dominate this space.
1. Intuitive Surgical: Pioneer of Robotic Surgery
Intuitive Surgical (NASDAQ: ISRG) is undoubtedly the pioneer and market leader in robotic-assisted minimally invasive surgery. Founded in 1995 by Fred Moll, Robert Younge and John Freund, the Sunnyvale, California based firm commercialized its flagship da Vinci Surgical System in 1999 after years of R&D.
This innovative system enables surgeons to operate through tiny incisions using small instruments and a high-definition 3D vision system. Intuitive‘s da Vinci technology marked a major breakthrough in open surgery, bringing minimally invasive technique to complex procedures like cardiac surgery or prostate cancer treatment.
The install base for da Vinci systems has grown to over 6,100 worldwide as of 2021. An over 70% share in the global robotic surgery market makes Intuitive the undisputed leader. Intuitive generates $5 billion in annual revenue from system placements and instruments/accessories.
It continues to advance its ecosystem with new innovations like Ion endoluminal system, robotic bronchoscopy platform Auris Health (acquired in 2019) and data analytics to improve surgery performance.
2. Medtronic: Leveraging Robotics for Minimally Invasive Treatments
As one of the world‘s largest medical technology providers, Medtronic (NYSE:MDT) has embraced robot-assisted surgery as a key business vertical. Its roots in surgical robotics began with the $1.65 billion acquisition of Mazor Robotics in 2018. This Israel based pioneer designed robotic systems for spine and brain surgery.
By integrating Mazor‘s advanced 3D planning and execution platform with Medtronic‘s market-leading implants and navigation systems, highly precise and minimally disruptive surgeries could be performed. Medtronic has continued to expand its robotics surgery portfolio with partnerships with pioneer Titan Medical to advance single-port robotic surgery.
The legacy medical devices giant generates over $30 billion in annual revenue, though its surgical robotics division remains modest currently. However, Medtronic is aggressively investing to strengthen its foothold by leveraging synergies with existing portfolios spanning orthopedics, neurosurgery, gynecology and general surgery.
3. Johnson & Johnson: Bringing Robotic Precision to Joint Replacement & Reconstruction
Johnson & Johnson (NYSE: JNJ)‘s entrance into surgical robotics began in 2015 with a $3.4 billion purchase of Orthotaxy, developer of pioneering Mako robotic arm assisted devices for orthopedic surgery. This platform brought robotic precision to knee and hip joint replacements.
Surgeons use Mako’s 3D modeling and analytics to pre-plan surgery and position implants precisely. Mako SmartRoboticsTM built on this foundation by incorporating AI and machine vision to enable complete automation of certain steps to improve efficiency. Over 875 global installations help 175,000 joint reconstruction surgeries annually.
While robotics remains a relatively modest segment of J&J’s $93 billion medical devices division currently, the company is investing heavily on new innovations in this space. This includes a cloud-based digital surgery planning platform to personalize spine procedures and musculoskeletal care.
4. Stryker Corp: Innovating Across Orthopedics, Neurology and Spine
Stryker (NYSE: SYK), with over $17 billion in revenues, has grown into one of the world’s most diversified medical technology leaders. It has assembled an unparalleled surgical robotics portfolio spanning orthopedics, neurology and spine treatment.
This began with the $1.65 billion acquisition of Mako Surgical in 2013, which brought robotic technology to knee and hip replacements. Stryker continued Mako’s momentum with new features like Mako Precision 3D planning and Patient Specific instrumentation.
In 2021, Stryker closed the $1.7 billion acquisition of pioneer Mobius Imaging & Cardan Robotics to foray into advanced spinal surgery and neurosurgery. Its imaging, navigation and robotic instrumentation assets strongly complement Stryker’s implant offerings in this space.
Most recently, Stryker has announced plans to acquire VOS, an Israel based robotic surgeon for affordable joint replacements. Investing over $2 billion in robotics to date, Stryker continues to shape future.
5. Smith + Nephew: Revolutionizing Joint Reconstruction
Smith+Nephew (NYSE: SNN) is a leading medical technology company specializing in orthopedics reconstruction, sports medicine and wound management. Through a series of strategic investments and R&D, it has established itself as an innovative player in surgical robotics.
It began partnering with pioneer BlueBelt Technologies in 2019 to develop the NavioTM Surgical System. This advanced robotic platform enables surgeons to more accurately navigate and prepare the knee joint during arthroplasty procedures compared to conventional methods.
Building on this foundation, Smith+Nephew acquired BlueBelt in 2021 for $305 million. This marked a turning point to invest significantly into robotics and drive innovation internally. Most recently, it has partnered with Sentry to develop unique robotic visualization capabilities for knee procedures.
Smith+Nephew generates nearly $5 billion annually from its diverse product lines. Robotics and enabling technology remains a major priority moving forward as it aims to reshape joint reconstruction.
6. Zimmer Biomet: Revolutionizing Orthopedic and Neurological Care
Zimmer Biomet (NYSE: ZBH), with over $7 billion in revenues, is a leading innovator in orthopedic implants, equipment and robotic technologies. It is advancing care across specialties like joint reconstruction, spinal procedures, neurosurgery and more.
In 2016, Zimmer Biomet acquired France based Medtech for $132 million. This outfit developed the ROSA robotics platform allowing precise surgical execution in spine & neurological areas. Further strengthening its robotic surgery portfolio, it partnered with pioneer Canary Medical in 2018 for a knee surgery collaboration.
Most recently, Zimmer Biomet has been investing heavily to integrate enabling technology like surgical planning, navigation, 3D printing and AI augmented robotics. This resonates with its vision to provide fully digital, personalized musculoskeletal care based on its vast portfolio.
7. Globus Medical: Disrupting Musculoskeletal Surgery
Founded in 2003, Globus Medical (NYSE: GMED) develops surgical solutions for the spine and orthopedics. With nearly $1 billion in revenue and over 2000 employees, this Musculoskeletal technology upstart has embraced robotics and AI to disrupt conventional techniques.
Its ExcelsiusGPS® platform allows surgeons to visualize patient anatomy precisely and track instruments in real time to optimize implant placement. The open architecture further integrates seamlessly with navigation, imaging and 3D printing tools.
In a pioneering step for musculoskeletal care, Globus Medical has partnered with tech leader Amazon Web Services (AWS) in 2022. This will embed cloud, analytics and AI to enable smarter surgical planning and integrated end-to-end digital workflows.
Staying on the cutting-edge, Globus Medical is poised to lead an era of connected, personalized musculoskeletal care.
8. Think Surgical: Transforming Knee and Hip Surgeries
Founded in 1999, Think Surgical is a pioneer in robotic systems for orthopedic surgery. Based in Fremont, California with over 100 employees, this outfit develops advanced technologies for total joint replacement.
Think Surgical unveiled its flagship TSolution One® Total Knee Application in 2021 after years of R&D. This FDA approved platform leverages a specialized burring tool allowing accurate cavity preparation and positioning of knee implants.
Previously it released the active robot for hip replacement surgery called TPLAN®, allowing CT based 3D planning. Think Surgical is also developing enabling technologies in surgical analytics, automation and integration to drive the future of intelligent robotic surgery.
Though currently privately owned, Think Surgical has raised over $100 million to back its goal to become the market leader. Its transformative technology promises to reshape orthopedic surgery.
9. CMR Surgical: Advancing Minimally Invasive Surgery
Founded in 2014, CMR Surgical aims to make surgical robotics mainstream in hospitals globally. Headquartered in Cambridge, UK, this outfit develops the next-generation Versius surgical robotic system to assist complex minimal access surgery.
The portable and modular design makes the system easy to move between operating rooms. With advanced instrumentation, Versius helps surgeons perform minimally invasive surgery across specialties such as colorectal, gynecology, urology etc.
CMR iscurrently working to expand Versius use across Europe, Asia and Middle East. It is also continuing R&D into integrating augmented intelligence and seamless data capture capabilities. Though currently private, CMR Surgical raised a record $600 million funding in 2021.
10. Vicarious Surgical: Bringing VR and Robotics Together
Founded in 2014, Vicarious Surgical aims to revolutionize surgery by fusing robotics with virtual reality. Headquartered in Massachusetts, this outfit develops unique human-like surgical bots controlled remotely using VR interfaces.
Surgeons get an immersive 3D view inside patient anatomy to guide tiny instruments with robotic precision completely non-invasively. This novel concept of minimally invasive surgery promises to overcome limitations of existing methods.
Having raised over $225 million funding, Vicarious unveiled its next-gen surgical system and console in 2021. Though years away from commercial availability, Vicarious showcases the future potential of AI-driven robotics and VR in healthcare.
Industry Outlook and Concluding Thoughts
Surgical robotics is positioned for massive growth in the coming decade driven by an aging population, rising disease burden, demand for minimally invasive procedures and technology progress. From legacy giants to promising startups, companies are racing to lead this transformation.
While today’s landscape is dominated by Intuitive Surgical, Medtronic and Stryker, emerging innovations signal an influx of smart, connected and intuitive surgical robots. Powered by AI, cloud computing and end-to-end digitization, tomorrow’s surgical systems may operate semi-autonomously to expand patient access.
Regulatory modernization, clinical evidence generation, training surgeons and increasing hospital adoption remain vital to steer the responsible development of surgical robotics. Overall, this industry promises dramatic progress in how we diagnose, plan and perform safe surgery.
