International Demand For Robotic Surgery Drives Intuitive Surgical’s Revenues Up 21% in Q2
Intuitive Surgical reported on 18 July that worldwide da Vinci procedures were up about 17% in the second quarter of 2019 compared to the same period of 2018. While the US still accounts for the majority of Intuitive’s revenue, procedure volume outside the US is growing faster, especially in Asia.
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Intuitive Surgical’s da Vinci robotic-assisted surgery system is facing a new competitor that may be harder to beat than the robotic-assisted surgery systems created by other companies. According to analysts, a growing number of hospitals will begin to use repaired da Vinci instruments supplied by third-parties, which could potentially impede the growth of Intuitive’s business.
The company unveiled its new modular robotic surgery system for minimally invasive surgery at a special event in Hartford, CT. Medtronic expects the new system to earn a CE mark by early 2021 and FDA approval by the end of 2021.
The medtech giant reported revenue of $7.5bn in the quarter that ended on 26 July, up 3.5% year-over-year basis, led by 12.5% growth in revenues from emerging markets. Medtronic’s fastest-growing business is its brain therapies unit, which reported 11.4% growth in the quarter.