PatentVest Pulse:

The Next Era of Surgical Robotics: Market Fragmentation, Strategic Signals, and IP Leadership

Authors: Tyler Teske, Will Rosellini, Oscar Chow, and Lisette Chavez

Highlights

A $188B Market, with <6% Penetration: Robots are used in less than 6% of surgeries. Not because they don’t work, but because they’re too expensive and hard to set up.
da Vinci Won the Last Era, But Not the Next: The da Vinci system was the first major success in robotic surgery. But it’s built for big hospitals with deep pockets. The next generation of robots isn’t improving on da Vinci, they’re building something entirely different for new settings.
CMR Surgical Is Quietly Beating Intuitive: Over the past decade, CMR has surpassed Intuitive in patents over the past 10 years and secured FDA clearance. Intuitive is defending a legacy. CMR is building the future.
The New Generation Is Already Here, And It’s Fragmented: There’s no single winner. Dozens of new platforms are being built for specific procedures, settings, and price points. Fragmentation is the new strategy.
Clearance Gets You in the Room. IP Gets You Bought: FDA approval is just the start. If your patents don’t protect the core system, no acquirer will touch you.
IP Is the Strategic Filter for M&A: Every major deal followed the same pattern: clearance, then IP consolidation. From J&J to Medtronic, acquirers didn’t build, they bought. And IP is what got the deal done.
Startups Are Winning Where It Counts: Big players own the footprint. But startups like CMR, THINK Surgical, EndoQuest, Neocis, and Stereotaxis are aligning capital, IP, and FDA to become the next leaders.
This Isn’t About Building the Next da Vinci: It’s about enabling access where robotics hasn’t reached. That’s where the next category leaders are being formed, and where strategic capital is already moving.

The Scale of the Shift

This report draws from more than 18,000 patent families, $4 billion in M&A activity, and the strategic paths of 28 emerging platforms. Together, they reveal a fragmented category that is accelerating fast.

1.0 Introduction

The Surgical Robotics Market Is No Longer Defined by a Platform. It’s a Race for Defensibility

Surgical robotics is no longer centered on a single system or company. As new platforms secure FDA clearances, attract capital, and claim critical patents, the question is no longer whether robotics will scale, but which systems will lead, and why. This report was built for founders, strategics, investors, board members, and operators navigating a fragmented and fast-moving category. It provides a data-driven lens on:

Who’s building next-generation surgical platforms
Where defensibility is emerging, and where it isn’t
How capital, IP, and regulatory progress are converging to shape the field

We profile 28 companies across the core variables that determine category leadership: clinical focus, technology uniqueness, regulatory status, capital raised, and IP strength.

2.0 Executive Summary

Unlocking the $188 Billion Surgical Robotics Opportunity

The global surgical robotics market represents a $188B+ opportunity, but it remains largely underpenetrated. Fewer than 6% of eligible procedures are performed robotically. The constraint is not clinical efficacy, but deployability: capital cost, footprint, workflow friction, and a lack of specialty-aligned systems. The field is now fragmenting across specialties, access methods, and site-of-care strategies. Instead of general-purpose systems, the most credible new platforms are targeting narrow, high-value use cases, each with their own clinical and commercial playbook:

General & Laparoscopic Surgery: Modular, ASC-ready platforms built for high-volume, underserved procedures
Orthopedic & Spine Surgery: Handheld and navigated systems designed for outpatient workflows and implant flexibility
Cardiac, Vascular & Endovascular: Access systems using magnetics, catheters, and endovascular robotics
ENT, Dental & Ophthalmology: Focused systems for narrow anatomical domains with tight workflow integration
Gynecology, Urology & NOTES: Platforms enabling natural orifice and single-port access for incisionless or specialized procedures

The Race for Leadership: Platforms Redefining the Category

Leadership is emerging where regulatory readiness, platform-level IP, deployment strategy, and capital efficiency align. Standout companies include:

CMR Surgical – Modular soft-tissue robot with FDA clearance, global footprint, and 1,796 patents
Stereotaxis – 150K+ cases in magnetic endovascular navigation, with unmatched IP depth
Neocis – FDA-cleared dental robot with 70K+ clinical cases and focused IP in haptic navigation
THINK Surgical – Handheld ortho robot with open-implant compatibility and FDA clearance
Momentis Surgical – Transvaginal GYN platform with humanoid arms and 500+ procedures
EndoQuest Robotics – Natural orifice system for incisionless GI and GYN surgery
Virtual Incision – In vivo miniaturized assistant for colectomy; FDA IDE-approved
Capstan Medical – Robotic structural heart platform blending catheter control with robotics
Vicarious Surgical – SPAC-backed VR platform with immersive interface, still pre-commercial

The IP Landscape: Who Owns the Foundation

An analysis of 18,000+ patent families across 63 jurisdictions over the past 10 years reveals how corporate IP leadership in surgical robotics is shifting.

The New Leader: CMR Surgical now ranks third overall with 1,048 patent documents, trailing only J&J (3,283) and Medtronic (2,183). It now outranks Intuitive Surgical, Stryker, and Globus Medical in volume, marking a major momentum shift in global filings.
Legacy Giant in Decline: Intuitive Surgical, once dominant, now sits at rank 6 with 494 documents and 135 families. Still formidable, but no longer expanding at the pace of challengers like CMR.
Universities & Research Centers: Top universities and research centers include the Chinese Academy of Sciences, the University of Texas at Austin, and Harbin Institute of Technology. Other leaders in academic IP include Shanghai Jiao Tong University, Johns Hopkins, Sichuan University, Beihang University, Fudan University, and Qilu Hospital of Shandong University.

Strategic IP Execution Is Now the Deciding Factor

IP has become the gating filter for acquisitions and a core pillar of competitive strategy. The most credible companies are:

Conducting claim-level audits to assess coverage and risk
Filing to protect core platform functionality, not just tools or interfaces
Aligning IP with clinical workflows, FDA claims, and commercial use
Managing continuations, monitoring competitors, and preparing for diligence

Companies without a disciplined IP strategy will fail in diligence, regardless of their technology. Those that treat IP as a board-level asset are already defining the next category leaders.

3.0 Competitive Landscape

Profiling the 28 Companies Redefining Surgical Robotics

The surgical robotics field is no longer defined by a single system, it’s defined by a race among 28 distinct platforms, each betting on a different procedural, regulatory, and technical pathway. This is not a hype cycle. It’s a cohort of focused, capital-backed, and often FDA-cleared companies vying to lead the next phase of surgical innovation.

Some are rethinking access (natural orifice, endovascular, in vivo miniaturization). Others are optimizing for deployment (ASC-ready platforms, handheld tools, hybrid laparoscopic systems). What unites them is a break from the legacy model, and a readiness to scale where da Vinci cannot.

The 28 companies profiled here were selected based on three core signals: regulatory progress (including FDA clearance, IDE approval, or active development-stage programs), meaningful patent activity within the past decade, and sufficient capital raised to support full-platform ambitions. Each is building a surgical robotics system, often differentiated by what they do, how they access the body, and where they expect the robot to be used.

This section maps who’s building what, how close they are to inflection, and whether their IP, regulatory, and capital position supports long-term defensibility.

Landscape Index – Mapping the Strategic Posture of 28 Robotic Platforms

The following index presents a side-by-side comparison of each company’s platform, regulatory status, funding, and IP position, highlighting which companies are most aligned for defensible, scalable leadership in surgical robotics.

3.1 Company Profiles
The next generation of surgical robotics is fractured by design, shaped by access strategy, care setting, indication, and business model. This section profiles 28 companies developing full surgical platforms, from FDA-cleared leaders to development-stage challengers. We’ve organized them by primary procedural domain to highlight where innovation is concentrated, how deployment strategies are evolving, and which platforms are positioned to scale. For each, we assess commercial traction, IP defensibility, regulatory progress, and theory of opportunity.

General & Laparoscopic Surgery

CMR Surgical

CMR Surgical, founded in 2014 and headquartered in Cambridge, UK, is a private company that focuses on developing Versius, a modular robotic system for soft-tissue procedures in general surgery, urology, and gynecology. Versius received FDA marketing authorization through the De Novo pathway in October 2024 for cholecystectomy in adults, earned CE marking in 2019, and is also approved for use in Brazil. The system has been used in over 30,000 surgical cases across more than 30 countries. Known for its independently positionable arms, compact ergonomic console, and streamlined operating room setup, Versius is positioned as a portable and flexible alternative to traditional fixed-platform robotic systems. CMR has raised approximately $1.3 billion, including a $600 million Series D in 2021 and a 2025 follow-on round to support U.S. expansion. The company holds an extensive intellectual property portfolio comprising 1,796 patent publications across 225 families, with strategic filings across AU, BR, CL, CN, DE, DK, EP, ES, GB, JP, KR, US, and WO, ensuring broad protection in all major surgical robotics markets. CMR’s patents cover all major components of a surgical robotics system, including robotic platforms and control software, electrosurgical tools, surgical instruments, sterile barriers, actuation and joint mechanics, sensors, tool interfaces, positioning systems, safety mechanisms, and endoscopic vision. Additional coverage in AI and surgical data infrastructure reflects a layered strategy that spans hardware, control, user interface, analytics, and OR integration

Distalmotion

Distalmotion, founded in 2014 and headquartered in Épalinges, Switzerland, is a private company developing surgical robotics designed to integrate robotic assistance into conventional laparoscopic workflows. Its flagship product, the Dexter Surgical Robot, is CE-marked and FDA-cleared via the De Novo pathway, and is indicated for use in general surgery, bariatrics, gynecology, and urology. Dexter supports hybrid operation modes, allowing surgeons to switch seamlessly between manual laparoscopic and robotic control during a procedure. As of 2024, the system has been used in more than 1,500 clinical procedures. Distalmotion has raised approximately $260 million across seven funding rounds. The company maintains an intellectual property portfolio of 144 patent publications across 20 families, with filings in AU, CA, CN, DK, EP, ES, JP, US, and WO. The portfolio is focused on hybrid surgical robotics and includes protection for robotic-laparoscopic platforms that combine manual and robotic control; mechanical telemanipulation systems with master-slave actuation; reusable and sterilizable instruments with modular couplers; smart input adapters that translate surgeon motion into precision instrument control; and motion control algorithms for safety, training, and dynamic speed regulation. Additional coverage includes articulated end effectors, flexible joint designs, ergonomic enhancements, and training-focused user environments. The IP reflects a design philosophy centered on simplicity, adaptability, and cost-efficiency, positioning Dexter as an accessible alternative to fully automated robotic systems.

Virtual Incision

Virtual Incision, based in Lincoln, Nebraska, is a private company developing MIRA (Miniaturized In Vivo Robotic Assistant), a compact 2-pound robotic system designed for minimally invasive surgery, initially targeting colectomy procedures. The system is FDA-cleared under an Investigational Device Exemption (IDE) and is in early clinical use. Virtual Incision has raised approximately $76 million and holds 129 patent publications across 23 families in six jurisdictions (CA, CN, EP, JP, US, WO). The company’s patent portfolio originated in 2003 and expanded significantly after 2016, with a five-year compound annual growth rate of 18.16%. Early filings were co-assigned with the University of Nebraska. Key areas of protection include miniaturized robotic devices designed for full internal deployment through a single incision, with onboard arms and cameras; robotic arm architectures and end effectors for in-body cutting, gripping, and suturing; and in-body cameras and tracking systems with dynamic re-orientation algorithms. Additional claims cover surgeon interface systems including ergonomic controllers and capacitive sensors, tool exchange mechanisms for rapid intraoperative switching, and console integration systems that link user input, visualization, and robotic actuation in real time.

Vicarious Surgical

Vicarious Surgical Inc., founded in 2014 and headquartered in Waltham, Massachusetts, is a publicly traded company (NYSE: RBOT) developing a next-generation surgical robotics platform for minimally invasive procedures. Its lead product, the Vicarious Surgical System, is a single-port robotic platform designed to provide enhanced dexterity, precision, and visualization through a small abdominal incision. The system integrates miniaturized robotic arms, stereoscopic 3D imaging, and sensor-driven feedback to create an immersive, in-body surgical experience. Unlike traditional multi-port systems, the Vicarious platform utilizes proprietary decoupled actuators that improve mobility, reduce system footprint, and enable high degrees of articulation inside confined anatomical spaces. The initial clinical focus is ventral hernia repair. The company is currently in the pre-commercial phase and pursuing regulatory clearance for market entry in the United States. Vicarious Surgical’s intellectual property portfolio includes 173 patent publications across 40 families with filings in US, WO, EP, CA, CN, JP, KR, and ES. These patents cover various aspects of their core technology, including surgical robotics, sensing capabilities, controls, visualization interfaces, and surgical tools. Core areas of protection include VR-integrated surgical control systems, enabling real-time, head-tracked camera control via internal stereoscopic visualization; stereoscopic imaging and autofocus, with embedded pitch/yaw actuation, autofocus mechanisms, and internal lens-cleaning systems; and miniaturized internal robotic arms, featuring cable-driven multi-DOF articulation through a trocar. Additional patents cover modular tool docking and exchange, allowing in vivo attachment and detachment during procedures; elastic cable and force feedback control for haptic precision; and user interfaces including GUI overlays, multispectral imaging, and 3D visualization systems. The portfolio also includes coverage for thermal and optical management systems, and disposable components such as trocar seals, barrier adapters, and single-use enclosures designed for surgical sterility and workflow integration.

Moon Surgical

Moon Surgical, founded in 2019 with offices in Paris, France, and San Francisco, California, is a private company developing collaborative robotic systems for minimally invasive surgery. Its flagship product, the Maestro Surgical System, is a compact robotic assistant designed to augment laparoscopic procedures by providing instrument stabilization and shared control. Maestro is FDA-cleared (initially in 2022, with commercial clearance granted in 2024) and CE-marked as of 2023. The system has been used in over 1,000 procedures worldwide, including more than 200 in Europe. Moon Surgical has raised over $90 million, including a $31 million Series A in 2022 and a $55 million follow-on round in 2023. The company holds an intellectual property portfolio of 50 patent publications across 18 families, with filings in AU, CA, EP, US, and WO. The portfolio is early-stage and highly focused, with filings beginning in 2021 and peaking in 2023. Most claims center on co-manipulation rather than full autonomy, with coverage spanning shared control mechanisms between surgeon and robotic arm, automated setup systems for instrument positioning, sensor-guided alignment of ports and scopes, torque-sensitive control of surgical tools, quick-connect hardware for rapid instrument exchange, and real-time interfaces for switching between manual and assisted control modes.

SS Innovations International, Inc., – Expanding Global Access to Advanced, Multi-Specialty Robotic Surgery

SS Innovations International, Inc., a publicly traded company (Nasdaq: SSII) headquartered in India with U.S. operations in Fort Lauderdale, Florida, develops cost-effective surgical robotics with a focus on expanding global access. Its flagship platform, the SSi Mantra Surgical Robotic System, is a modular, multi-arm system featuring 3D 4K visualization, an ergonomic surgeon console, and a broad suite of over 40 interchangeable endo-surgical instruments. The platform supports a wide range of procedures, including cardiac surgery. Clinically launched in India in 2022, the system has since been used in over 3,800 procedures across 80 hospitals, with the updated SSi Mantra 3 completing 750 additional cases, including more than 70 cardiac operations. The system is approved in multiple countries across Asia, Latin America, and Eastern Europe. A De Novo FDA submission is planned for July 2025. SS Innovations has raised capital through a SPAC transaction and reported $5.1 million in revenue in Q1 2025, with an installed base of 78 systems as of March 2025. The company’s intellectual property portfolio began in 2015 and accelerated after 2020, peaking in filing activity in 2024. As of 2025, it includes 57 patent documents across 20 families, with filings in eight jurisdictions. Key areas of coverage include modular robotic arms designed for sterilizable tool draping and flexible docking; motorized, wristed surgical instruments with shaft-based actuation; and cannula systems featuring anti-rotation geometry and integrated force sensing. Additional patents protect electromagnetic surgeon interfaces, spring-loaded docking columns, console systems with head-tracked 3D-HD visualization, and virtual reality training tools. The portfolio also includes imaging-aligned setup software, sterile barrier draping solutions, and sensor-equipped disposable clip instruments.

Ronovo Surgical

Ronovo Surgical, based in Shanghai, China, is a private company developing the Carina system, a modular robotic platform for multi-specialty laparoscopic procedures. Carina is designed to support flexible system configurations and expand access through multi-port operation. The system is currently in development and has reportedly been used in over 200 procedures. Regulatory clearance has not yet been disclosed. Ronovo Surgical holds 34 patent publications across 23 families in three jurisdictions (EP, US, WO). The portfolio was filed primarily between 2023 and 2025 and focuses on platform-level coverage for robotic-assisted laparoscopy. Patent focus includes surgical robotic systems covering robotic arm architecture, trocar and cannula alignment, and multi-axis actuation; robotic joint mechanics including arm design, torque control, and joint actuation logic; tool interfaces and docking systems with platform architecture, docking trolleys, instrument recognition, and multi-port access; safety systems addressing cannula misalignment detection, collision avoidance, and installation-state monitoring; sterility and reusability systems including sterile barrier designs and modular reusable hardware; and electrical and mechanical integration for power distribution, robotic control, and subsystem communication.

Rob Surgical Systems S.L.

Rob Surgical Systems S.L., headquartered in Barcelona, Spain, is a private company developing Bitrack, a modular open robotic platform for minimally invasive surgery. The system is designed to improve access and flexibility in laparoscopic procedures and remains in development, with approximately 30 procedures completed in research settings. Regulatory approvals have not yet been announced. Rob Surgical holds 20 patent publications across 2 families in 14 jurisdictions (AU, BR, CA, CL, EP, ES, IL, KR, MX, PL, PT, US, WO, ZA). Both families relate to laparoscopic robotic assistance and focus specifically on systems for estimating trocar position during surgery. One family describes a method for dynamically tracking trocar placement, while the other incorporates robotic arms with passive joints to improve spatial estimation. The filings are narrowly scoped and centered on trocar localization and spatial awareness within the laparoscopic workflow.

Orthopedic & Spine Surgery

THINK Surgical – Handheld Orthopedic Robotics with Open Implant Flexibility

THINK Surgical, founded in 2007 and headquartered in Fremont, California, focuses on developing orthopedic surgical robotics designed to enhance precision in total knee arthroplasty. The company’s flagship product is the TMINI® Miniature Robotic System, a handheld, wireless robot that guides bone resection with sub-millimeter accuracy. The TMINI system received FDA 510(k) clearance in April 2023 and has since been cleared for compatibility with multiple implant systems. Unlike traditional robotic platforms, TMINI supports an open implant model, allowing surgeons to use implants from over 11 manufacturers. As of 2024, more than 600 procedures have been completed using the system in the United States. THINK Surgical has raised approximately $248 million across four funding rounds, most recently securing $5 million in private equity financing in June 2023. The company maintains a specialized intellectual property portfolio consisting of 428 patent publications across 113 families, with filings in AU, CN, EP, JP, KR, US, and WO. Key areas of coverage include autonomous and semi-autonomous joint arthroplasty systems for hip and knee replacement; surgical planning platforms that use CT, MRI, or laser scan data to generate resection plans; tracking and registration systems featuring fiducial-based, pinless, and laser-guided digitization; and implant-agnostic interfaces designed to support multi-brand compatibility and alignment verification. Additional IP protects chip-free bone cutting tools, force-sensing burrs, and monitoring systems for thermal and collision control, along with handheld and rollable digitizers for OR mapping. The portfolio also includes modular electromechanical components, articulated guides, and tungsten-carbide hardware. Additional tools cover grafting, resurfacing, ligament reconstruction, and spine navigation.

eCential Robotics

eCential Robotics, headquartered in Grenoble, France, is a private company developing a unified surgical platform that integrates navigation, robotics, and intraoperative imaging for orthopedic and spine procedures. The system is both CE-marked and FDA 510(k)-cleared, and is designed to streamline spine surgery workflows by consolidating multiple OR technologies into a single ecosystem. The platform supports image acquisition, planning, navigation, and robotic execution through a vertically integrated architecture. eCential Robotics has raised approximately $26.6 million to date. eCential Robotics holds 141 patent publications across 35 families with filings in AU, BR, CA, CN, EP, IL, KR, US, and WO. The company’s IP portfolio originated in 2002, with robotics-specific filings accelerating after 2015. Most patents are solely assigned to eCential Robotics SAS, with select co-assignees including MinMaxMedical and Johnson & Johnson. Key areas of protection include 3D reconstruction algorithms for CT-like visualization using 2D intraoperative X-rays; tracker mounting systems using radiolucent, bone-attached frames; and robotic arm control systems supporting hand-guided, servo-assisted, and trajectory-based actuation. Additional filings cover motorized C-arm integration, with spatial alignment between imaging and surgical landmarks; workflow automation and safety software, including tracker drift detection and override logic; trajectory planning systems for spinal drilling and cutting paths; and integrated platform architecture combining imaging, tracking, and robotic control in a single interoperable system.

Ronovo Surgical

Cardiac / Vascular / Endovascular

Stereotaxis

Stereotaxis, a publicly traded company (NYSE: STXS) headquartered in St. Louis, Missouri, focuses on developing robotic magnetic navigation (RMN) systems for minimally invasive endovascular procedures, particularly in cardiac electrophysiology. Its flagship platform, Genesis RMN, is FDA-cleared via 510(k), CE-marked, and approved by China’s NMPA. Stereotaxis technology has been used in over 150,000 procedures across the United States, Europe, Asia, and other regions. In 2024, the company reported approximately $26.9 million in robotics revenue. Stereotaxis maintains a specialized intellectual property portfolio comprising 676 patent publications across 204 families, with strategic filings in AT, AU, CN, DE, DK, EP, ES, HK, JP, KR, US, and WO. The portfolio spans more than two decades and is focused exclusively on magnetic navigation and interventional robotics. Key areas of coverage include external magnet arrays and field-shaping software for catheter control, magnetically guided catheters and guidewires, electro-anatomical mapping and visualization, remote manipulation systems, multi-modal imaging and localization, force and position sensors, safety and failover protocols, remote procedure network infrastructure, and magnet design. Most claims center on non-contact magnetic field-based steering of interventional devices.

Capstan Medical

Capstan Medical, headquartered in Santa Cruz, California, is a private company developing a robotic platform for minimally invasive structural heart interventions, including mitral and tricuspid valve replacement. The system integrates catheter-based delivery with robotic control and remains in development, with first-in-human trials planned. Capstan holds 30 patent publications across 10 families in six jurisdictions (AU, CA, EP, KR, US, WO). The intellectual property portfolio is focused on structural innovations in transcatheter valve therapy. Core filings cover mechanical valve stents designed for controlled expansion without foreshortening, along with delivery systems incorporating catheters, sheaths, spools, and deployment frames. Additional families claim anti-inversion and leak-prevention features, clip-based valve repair tools, and a robotic-assisted implant delivery mechanism. While one family addresses robotic precision placement, the bulk of the portfolio is weighted toward implant design and procedural mechanics. The portfolio’s relevance to surgical robotics lies in its integration of robotic delivery within a catheter-based system.

Microbot Medical

Microbot Medical Inc., founded in 2010 and headquartered in Hingham, Massachusetts, is a publicly traded company (NASDAQ: MBOT) developing robotic systems for endovascular intervention. Its lead product, the LIBERTY® Endovascular Robotic System, is a fully disposable, single-use platform designed for remote-controlled catheter-based procedures. LIBERTY is intended to reduce physician radiation exposure, physical strain, and cross-contamination risk by enabling off-table operation during vascular, neurovascular, and peripheral interventions. The system is currently under FDA 510(k) review, with commercial launch expected in Q3 2025. Microbot has active collaborations with Corewell Health on the clinical deployment of LIBERTY and with Emory University to explore autonomous robotics in endovascular procedures. The company holds 440 patent publications across 75 families in 31 jurisdictions, including CN, DE, EP, JP, KR, TW, US, WO. Microbot’s patent portfolio originated in 1986 and initially focused on regenerative medicine and bioimplants. A strategic shift toward surgical robotics began in the early 2010s, with robotics-related filings accelerating after 2016. Many patents are co-assigned with Technion-Israel Institute of Technology, with additional filings stemming from work with Cardiosert Ltd. Key areas of coverage include endoluminal robotic platforms – self-propelled, compact robots designed to autonomously navigate within vessels and narrow anatomical pathways; tool manipulation systems composed of multi-unit robotic assemblies for deploying and articulating elongate surgical tools inside the body; catheter and guidewire technologies, including steerable robotic catheters, dual-guidewire systems, and automated deployment and storage platforms; compact robotic arms for bed-mounted or internally deployable use, featuring jointed actuation for small-space navigation; and system control and interfaces, including software that synchronizes robotic movement with imaging systems and enables real-time tool control through dedicated user interfaces.

Nanoflex Robotics

Nanoflex Robotics, based in Zurich, Switzerland, is a private company developing a magnetic navigation platform for guiding ultra-flexible instruments in endovascular and neurovascular procedures. The system remains in development and has not yet received regulatory clearance. The company has raised approximately $15 million to date. Nanoflex holds 8 patent publications across 2 families in five jurisdictions (CN, EP, ES, KR, US). The company’s portfolio includes two foundational families filed in 2015 and 2020. One family claims an electromagnetic coil architecture with integrated coolant channels, while the other protects methods for guiding flexible medical devices through body lumens using external magnetic fields. The filings represent early but targeted coverage of Nanoflex’s core magnetic actuation technology.

XCath

XCath, based in Houston, Texas, is a private company developing a robotic navigation platform for endovascular procedures, including stroke intervention and vascular access. Its lead technology, the ElectroSteer Deflectable Guidewire System, is designed to enable remote control of guidewires and sheaths while reducing radiation exposure and improving procedural precision. The system remains in development and has not yet received regulatory clearance. XCath holds 118 patent publications across 8 families in 11 jurisdictions (AU, BR, CA, CN, EP, JP, KR, MX, TW, US, WO). The company’s patent portfolio originated in academic research at The University of Texas at Austin. The first filing dates to 2017, with peak publication activity between 2019 and 2021 and a resurgence in 2024–2025. Patent focus includes electroactive polymer-based navigation systems using ionic electroactive polymer (IEAP) actuators for electrically driven guidewire bending; robotic sheath and guidewire control systems with independent motorized rollers; modular cassettes that combine linear and rotational motion for precise endovascular positioning; and high-DOF robotic manipulation technologies covering distal-tip steering, linear/rotational/roll actuation, and deployment through steerable guidewires.

ENT / Ophthalmic

ForSight Robotics

ForSight Robotics was founded in 2020 in Yokneam Illit, Israel, by Prof. Moshe Shoham, Dr. Daniel Glozman, and Dr. Joseph Nathan to develop a robotic platform for ophthalmic surgery. The company is developing the ORYOM™ system, a robot designed for cataract procedures and future applications in glaucoma and retinal surgery. The system combines micromechanics, computer vision, and AI-based control to enable navigation across both anterior and posterior segments of the eye. In June 2025, ForSight announced a $125 million Series B round led by Eclipse, bringing total funding to $195 million. The company has over 110 employees, has achieved ISO 13485:2016 certification, and is preparing to begin first-in-human clinical trials in 2025. ForSight holds 47 patent publications across 16 families in five jurisdictions (CA, CN, EP, US, WO). The company’s patent portfolio is recent, with all 16 families filed between 2022 and 2025. Patent focus includes control interfaces using multi-axis input devices with IMUs for tracking surgeon motion and translating fine-scale tool commands; sterile motion systems featuring gear-based mechanical structures for motion transfer across sterile barriers; force feedback and safety systems with constraint-based feedback tailored to eye surgery; robotic microsurgery platforms using XYZ stage systems and multi-DOF arms; tool exchange systems with virtual control interfaces; capsulotomy mechanisms for anterior lens capsule openings; intraoperative setup and imaging workflows; retractable wheelbase hardware for OR transport; and non-invasive tonometry systems for eye pressure diagnostics.

Insight Surgery

Insight Surgery is a private UK company developing surgical navigation and robotic systems for ENT procedures. The platform remains in the conceptual or prototype stage and has not yet been used in clinical settings. Regulatory milestones have not been announced. The company holds 3 patent publications across 1 family in three jurisdictions (GB, US, WO). Insight Surgery’s sole patent family was first published in 2023 and covers a software-driven system for designing and manufacturing patient-specific medical devices. The filings describe methods for anatomical modeling and tool path generation.

Neocis

Neocis, founded in 2009 and headquartered in Miami, Florida, is a private company that develops robotic systems for dental surgery. Its flagship product is the Yomi® system, the first and only FDA-cleared robotic platform for dental implant procedures. Yomi provides real-time haptic guidance and digital planning tools that enhance precision during implant placement. As of 2024, the system has been used in over 70,000 procedures across U.S. dental practices. Neocis has raised approximately $183.1 million across ten funding rounds, most recently securing $20 million in a Series D round completed in January 2024. The company holds an intellectual property portfolio of 211 patent publications across 23 families, with filings in CA, CN, EP, ES, IL, JP, KR, TW, US, and WO. The portfolio covers robot-assisted dental implantation systems using intraoral landmarks and haptic robotic arms; splint-based navigation methods that align CBCT imaging with fiducial markers; real-time motion tracking and compensation using override-sensitive algorithms; and human-in-the-loop control frameworks for monitoring resistance and positional accuracy during surgery. Additional filings address 3D imaging platforms linked to prosthetic workflows, systems for transferring and verifying implant fit and position, and specialized tools for sinus lift support, aerosol control, and early-stage cranial and maxillofacial applications.

Gynecology / Urology / NOTES / Natural Orifice

Momentis Surgical – Single-Port Transvaginal Robotic Access with Humanoid Arm Articulation

Momentis Surgical, founded in 2016 and headquartered in Yehuda, Israel, focuses on developing robotic systems for minimally invasive gynecologic surgery. The company’s flagship platform is the Anovo Surgical System, an FDA-cleared robotic system designed for transvaginal access during procedures such as hysterectomy and oophorectomy. Anovo features miniaturized, articulated tools that replicate the shoulder, elbow, and wrist motion of the human arm, enabling multi-planar articulation inside the body through a single-port transvaginal approach. The system is designed to reduce abdominal incisions, simplify OR setup, and support faster patient recovery. As of 2024, over 500 procedures have been completed using the system in clinical practice. Momentis maintains an intellectual property portfolio comprising 86 patent publications across 47 families, with filings in AU, CA, CN, DK, EP, ES, GB, HR, IL, JP, KR, LT, SI, US, and WO. The portfolio covers a range of technologies related to transvaginal and laparoscopic surgery, including robotic ports and manipulators for natural orifice access, articulated mechanical arms and control consoles, manual and robotic operating modes, electrosurgical tools, docking carts, sterile barriers, surgical simulation systems, and intraoperative imaging.

EndoQuest Robotics

EndoQuest Robotics, based in Houston, Texas, is a private company developing the Endoluminal Surgical (ELS) System, a flexible robotic platform designed for natural orifice access in gastrointestinal, gynecologic, urologic, thoracic, and ENT procedures. The system enables transoral and transanal surgery without external incisions, using flexible robotic arms and modular tools for navigation and tissue manipulation. It remains in development and has not yet received regulatory clearance. EndoQuest Robotics holds 156 patent publications across 17 families with filings in AU, BR, CA, CN, EP, ES, KR, MX, TW, US, and WO. The company’s patent portfolio began in 2017, with filing activity increasing sharply from 2020 through 2025. Early filings were co-assigned with the University of Texas system, while more recent filings are held solely by the company. The portfolio focuses on components that enable incisionless robotic procedures via natural orifices. Key areas of coverage include flexible robotic arms and overtubes for navigation without rigid ports; modular, disposable end effectors for gripping, cutting, and tissue manipulation; surgeon control systems with positioning freedom, hand safety sensors, and drive compensation logic; and cable- and wire-based control mechanisms that improve stability and reduce slack during navigation. Additional claims cover deployment and anchoring methods for securing robotic systems inside the GI tract and user interface systems for real-time visual control and procedural feedback. The portfolio is closely aligned with EndoQuest’s goal of enabling full-thickness, incisionless surgery through natural access pathways.

Biobot Surgical

Biobot Surgical, headquartered in Singapore, is a private company developing the Mona Lisa system, a robotic platform for transperineal prostate biopsies. The system is designed to improve diagnostic accuracy in prostate cancer by enabling high-precision needle placement. Mona Lisa has received regulatory clearance in multiple jurisdictions, including FDA 510(k) in the United States, NMPA in China, TGA in Australia, and HSA in Singapore. Total procedure volume has not been publicly disclosed. Biobot Surgical holds 42 patent publications across 8 families in 8 jurisdictions (AU, CN, EP, ES, SG, TW, US, WO). Patent portfolio focus includes biopsy and therapy devices involving mechanical assemblies for positioning, inserting, and stabilizing biopsy needles, including arc-slide systems for 2D/3D control; needle guidance systems with actuator-driven guides and separable components for precision insertion and controlled release; trajectory planning software for calculating tool paths using positional data and anatomical constraints; positioning hardware featuring multi-DOF mechanical linkages; instrument guides that enable rotational and angular path control; ultrasound probe integration for imaging-guided biopsy; and limited claims related to interstitial therapy tools for energy-based interventions such as localized radiation.

Andromeda Surgical

Andromeda Surgical, based in South San Francisco, California, is a private company developing Beacon, a robotic platform for endourology with an initial focus on laser prostate enucleation. The system is in early development and has been used in one clinical case. The company has raised approximately $8.1 million to date. Andromeda Surgical holds 2 patent publications across 1 family in two jurisdictions (US, EP). The family was first filed in 2023 and covers a modular robotic platform with swappable end effectors and customizable software modules. The application also claims real-time imaging integration and anatomical navigation support.

Meere Company

Meere Company, headquartered in Yongin-si, South Korea (KOSDAQ: 049950), is a publicly traded company developing robotic platforms for minimally invasive surgery. Its flagship product, the Revo-SU system, is South Korea’s first domestically developed surgical robot and is designed for single-port access in general surgery. The system has received regulatory approval from the Korean Ministry of Food and Drug Safety (MFDS), but has not yet been cleared in other major markets. The company holds 448 patent publications across 295 families, with filings in CN, DE, EP, JP, KR, TW, US, and WO. Of these, 90 families and 159 publications relate specifically to surgical robotics. Meere’s surgical robotics IP dates back to 2009, with early growth through 2011 and a second wave beginning in 2019. Filing activity has remained consistent through 2025. Most filings are concentrated in South Korea, with additional coverage in major international jurisdictions. The portfolio includes robotic arms and joints with curved and SCARA-type mechanics; surgeon consoles with joystick and haptic input devices; motion and safety software for compensation, force detection, and collision avoidance; modular tool attachment systems; laparoscopic imaging components including stereo depth adapters; and surgical access tools such as trocars and insertion devices with integrated drive systems.

3.2 Strategic Signal Filters: Capital, IP, and Regulatory Maturity

4.0 Capital Allocation – What the Funding Data Tells Us

Venture capital is not a proxy for success, but it is a directional signal. In a fragmented market like surgical robotics, capital raised often reflects investor conviction, regulatory progress, and acquisition potential. While dozens of companies are developing robotic systems, only a subset has attracted the scale of funding required to reach commercialization. Over the past five years, more than a dozen platforms in this cohort have raised over $100 million. Across this group, three traits consistently emerge:

Focused Indication Strategy – Most top-funded platforms are built around a single use case with measurable outcomes (e.g., knees, lungs, uterus, teeth).
Regulatory Momentum – These companies have secured CE marks, IDE approvals, or early-stage FDA clearance.
IP That Protects the Core – The strongest portfolios cover robotic architecture, actuation, and procedural integration, not just user interfaces or accessories.

Interpreting the Capital Stack: Maturity vs. Momentum

Funding stage and capital raised reflect where a company is in its lifecycle. Across the landscape, we see three strategic funding archetypes:

Late-Stage Readiness (Series C/D+) – These platforms are FDA-cleared or in final validation and are already drawing interest from acquirers.
Strategic Entry (Series A/B) – Early-stage platforms with strong IP or technical differentiation. High-risk, high-reward bets, often aligned with specific acquirer gaps

Capital Alone Doesn’t Build a Moat

Not all well-funded companies are defensible. Some have scale, but no strategic depth. Others have credible platforms but lack alignment across capital, IP, and regulatory milestones. To assess true leadership potential, capital must be evaluated against four core dimensions:

Regulatory Progress – Is the company converging on FDA clearance- or already past it?
Clinical Fit – Does the platform serve an underserved indication or care setting?
IP Control – Are core robotics protected – or only superficial features?
Deployment Logic – Can the system operate outside flagship hospitals (e.g., in ASCs or global markets)?

The following table summarizes the capital raised by 20 closely watched surgical robotics companies as of mid-2025. Each is at a different point on the commercialization curve.

5.0 IP Landscape

Mapping Innovation and Ownership in Surgical Robotics

The surgical robotics industry is entering a new era of fragmentation and intellectual property is now the terrain on which leadership is won or lost. Understanding the competitive dynamics in the rapidly evolving surgical robotics requires clarity about where innovation is occurring and who is driving it. This section presents a directional view of the global patent landscape across the entire category: who is in the space, where innovation is happening, and which technologies remain open, crowded, or defensible. Executives and investors often navigate this space without a clear map, leading to missed opportunities and overlooked risks. To provide strategic clarity, our team leveraged PatentVest, a proprietary analytics platform designed to distill complex patent data into actionable insights.

How We Built the Global IP Landscape for Surgical Robotics

Step 1: Defining the Innovation Scope:

We began by setting clear boundaries around what qualifies as surgical robotics innovation. Using a two-layer keyword strategy, we first filtered for surgical relevance, then layered in robotics-specific terms such as manipulators, robotic arms, master-slave control, autonomy, mechatronics, and computer-assisted surgery. This approach yielded a global dataset of 52,046 patent publications, representing 18,713 unique patent families filed by 2,002 companies and institutions across 64 jurisdictions.

Step 2: Patent-by-Patent Review:

We then refined the dataset through a detailed review process to ensure technical relevance. Filings unrelated to surgical robotic systems or their enabling technologies were excluded. This filtering step resulted in a curated dataset of 51,400 patent documents across 18,404 families from 1,922 unique assignees, spanning 63 jurisdictions.

Step 3: Timeframe Filtering
To focus on active innovation and recent strategic positioning, we limited the dataset to filings with a priority date within the past 10 years. This narrowed the landscape to 32,785 patent documents, representing 13,887 families and 1,282 unique assignees across 47 jurisdictions.

Step 4: Analysis and Mapping
With the refined dataset, we performed a multi-dimensional analysis to identify the top companies, leading research institutions, and dominant technology areas. We also mapped publication trends over time and examined CPC classifications to understand where innovation is concentrated and how the competitive field is evolving.

Global Filing Trends (2015-2025)

Patent family filings in surgical robotics have more than doubled in the past decade, reflecting rapid investment in modular platforms, endoluminal systems, and vision-integrated architectures.

Top Filing Jurisdictions – Patent Documents in Surgical Robotics
Patent publication activity is highly concentrated in China and the United States, which together account for the majority of global surgical robotics filings.

Top 20 Corporate Assignees in Surgical Robotics
Johnson & Johnson, Medtronic, and CMR Surgical hold the largest patent portfolios, followed by Stryker, Globus Medical, and Intuitive Surgical.

Leading Research Institutions by Patent Activity
Academic and research institutions remain key contributors to foundational IP, particularly in China. Top entities include the Chinese Academy of Sciences, The University of Texas (Austin), and the Harbin Institute Of Technology.

Top CPC Categories – Technical Focus Areas in Surgical Robotics
Filings are most concentrated in robotic control systems, surgical instrumentation, and endoscopic vision technologies. Rapid growth is also occurring in domains tied to catheter navigation, haptic feedback, and intraoperative imaging. Underpenetrated areas such as surgical data integration and simulation tools represent latent strategic opportunity.

The Role of IP Landscape Analysis in Strategic Planning

Understanding who owns what and where innovation is trending is no longer optional for surgical robotics leadership. As the category fragments into new subsystems, modalities, and care settings, intellectual property becomes the map of the competitive terrain. A real-time IP landscape is essential for:

Directing R&D efforts toward unclaimed or under-addressed technical domains
Identifying licensable assets, emerging competitors, or potential conflicts
Informing regulatory strategy by clarifying innovation clusters tied to procedure types or device classes
Supporting business development conversations with investors, acquirers, or strategic partners
Equipping boards with the clarity needed to make high-conviction decisions around capital allocation and market entry

In a field where many systems appear similar on the surface, the companies that understand and control the underlying innovation map are the ones most likely to scale commercially. Done well, an IP landscape doesn’t just inform strategy. It becomes the operating system behind it.

6.0 Incumbents – The Acquirers in Waiting

While innovation in surgical robotics is increasingly driven by venture-backed startups, the companies most likely to commercialize and scale these platforms are the incumbents: large-cap medical device players with global infrastructure, regulatory expertise, and M&A track records.

This section profiles the strategic postures of the major incumbents: what they’ve built, what they’ve bought, and where they’re likely to move next.

The Strategic Role of Incumbents

Incumbents in this space play three roles:

Competitors – Launching or scaling internal platforms to protect existing surgical businesses.
Acquirers – Buying cleared, clinically proven systems to fill gaps in pipeline or specialty coverage.
Partners – Collaborating with startups through distribution, co-development, or licensing agreements.

What Defines Incumbent Power

The most strategically positioned incumbents share five characteristics:

Global sales and training infrastructure
Regulatory and clinical trial experience
Multi-specialty device portfolios
Platform-level IP portfolios with active litigation and licensing history
M&A capacity and appetite, especially post-clearance

Strategic Benchmark – Incumbent Robotics Platforms

Installed Scale, FDA Progress, and Commercial Footprint of Key Incumbents

This table outlines the current positioning of the most established companies in surgical robotics. While Intuitive remains the clear leader, each company listed has made significant investments in platform development, regulatory advancement, and market entry. 0

How the Incumbents Stack Up: Company Profiles

The following profiles provide a closer look at each of the major players shaping today’s surgical robotics landscape. While Intuitive remains in a category of its own, every company here has invested meaningfully in platform development, IP, and market positioning. Some are scaling cleared systems. Others are still in early deployment. Each profile covers:

Platform architecture and clinical focus
Regulatory progress and procedure volume
IP portfolio strength
Strategic positioning and go-forward momentum

Intuitive Surgical

Founded in 1995 and headquartered in Sunnyvale, California, Intuitive Surgical is the pioneer of robotic-assisted surgery and a publicly traded company (NASDAQ: ISRG). The company developed the da Vinci Surgical System, which includes the multiport Xi and X systems, the single-port SP, and the newest generation, da Vinci 5. These platforms are FDA-cleared and CE marked across a wide range of soft tissue procedures. In 2024, Intuitive performed over 2.6 million procedures and generated $8.4 billion in surgical robotics revenue. The da Vinci 5, launched in 2024, introduced force feedback, 4K 3D visualization, and a new computing architecture designed for AI integration and future semi-autonomous features. Intuitive also offers the Ion platform, a flexible robotic system used for bronchoscopic lung biopsies. Together, the da Vinci and Ion systems cover a broad range of surgical and diagnostic applications. Intuitive’s core advantage is its ecosystem. Hospitals build full surgical workflows around its platforms, supported by a global training network, standardized instruments, and a razor-and-blade commercial model. The result is high switching cost and surgeon loyalty that competitors have struggled to replicate. Intuitive also leads the category in intellectual property. The company holds 12,188 published patents across 1,771 families, with active coverage in 17 jurisdictions. Its portfolio spans robotic architecture, control systems, vision technology, and surgical instrumentation, giving it the most defensible position in the industry.

Stryker

Stryker is a global medical technology company headquartered in Portage, Michigan, and publicly traded on the NYSE (SYK). The company entered surgical robotics through its 2013 acquisition of MAKO Surgical Corp. for $1.65 billion. That deal gave Stryker the Mako robotic-arm system and helped establish it as the leader in robotic joint replacement. The Mako SmartRobotics platform is FDA-cleared and CE marked for total knee, partial knee, and total hip arthroplasty. It integrates CT-based surgical planning, haptic-guided bone preparation, and real-time intraoperative analytics. As of 2024, Stryker has installed over 1,500 Mako systems globally, with more than one million joint replacement procedures performed. The company is also developing a shoulder arthroplasty module, which would make Mako the only robotic system covering all major joints. Robotics is a core growth driver for Stryker’s orthopedics business. The Mako system is deeply integrated with the company’s implant lines and surgical instruments, creating a closed-loop ecosystem that locks in implant usage and generates recurring revenue from disposables and upgrades. The company does not break out robotics-specific revenue, but its orthopedic segment exceeded $6 billion in 2024, with a significant share driven by Mako adoption. Stryker holds 3,037 published patents across 754 families in 47 jurisdictions. Its portfolio includes key patents on robotic haptics, bone resection control, and orthopedic workflow optimization. The MAKO acquisition gave Stryker a defensible position in joint replacement robotics, which it has expanded through continuous product updates and ecosystem buildout.

Zimmer Biomet

Zimmer Biomet is a global musculoskeletal health company headquartered in Warsaw, Indiana, and publicly traded on the NYSE (ZBH). The company entered surgical robotics in 2016 through the acquisition of French firm Medtech S.A., which brought the original ROSA Brain and Spine platforms. Since then, Zimmer has expanded the ROSA portfolio to include knee, hip, and shoulder applications, positioning itself as a fast follower in orthopedic and neuro robotics. The ROSA Knee system is FDA-cleared and CE marked for total knee arthroplasty and now supports revision procedures as well. ROSA Spine and ROSA Brain assist with spinal fusions and stereotactic neurosurgery. In 2024, Zimmer also became the first company to receive FDA clearance for robotic-assisted shoulder arthroplasty with its ROSA Shoulder module. Across the portfolio, Zimmer has installed over 300 ROSA systems globally, with more than 100,000 knee procedures completed. Zimmer integrates its robotics into a broader digital surgery ecosystem called ZBEdge, which combines preoperative planning tools, intraoperative guidance, and post-operative monitoring. The company’s implant business is closely tied to ROSA adoption, especially in ambulatory surgery centers where Zimmer has seen strong growth. Zimmer Biomet holds 1,012 published patents across 246 families in 53 jurisdictions. Its portfolio includes claims on robotic navigation, implant positioning, and multi-indication modular platforms. The Medtech acquisition gave Zimmer an early IP and engineering foundation, which it has since expanded into one of the most complete robotic portfolios in orthopedics and neurosurgery.

Medtronic

Medtronic is the world’s largest standalone medical device company, headquartered in Dublin, Ireland, with operational headquarters in Minnesota. It is publicly traded on the NYSE (MDT). Medtronic entered surgical robotics through a combination of internal development and acquisition, most notably the 2018 purchase of Mazor Robotics for $1.7 billion. The company is now building out two major robotic platforms: Mazor for spine surgery and Hugo for soft tissue procedures. Mazor X Stealth Edition is FDA-cleared and widely used in spine surgery for pedicle screw placement and other implant procedures. Hugo is a modular, multiport soft-tissue platform designed for laparoscopic procedures. It received CE Mark in 2022 and is commercially deployed in Europe, Latin America, and Asia. As of early 2025, Hugo has completed thousands of procedures internationally and is awaiting FDA clearance for launch in the U.S. Medtronic has integrated Hugo with its Touch Surgery Enterprise platform, combining robotics with AI-driven surgical video capture and analytics. The company is also working with NVIDIA and other partners to further develop AI-assisted guidance and intraoperative intelligence.

Medtronic holds 3,337 published patents across 464 families in 39 jurisdictions. The Mazor acquisition gave the company a defensible position in spine robotics, while Hugo’s IP is built around modular architecture, user-configurable robotic arms, and digital integration. Medtronic’s strategy focuses on global scale, surgical workflow integration, and competitive pricing to challenge Intuitive’s dominance, especially in emerging markets.

Johnson & Johnson

Johnson & Johnson is a global healthcare conglomerate headquartered in New Brunswick, New Jersey, and publicly traded on the NYSE (JNJ). The company operates its surgical robotics efforts through its MedTech division, with a multi-platform strategy that includes Monarch for bronchoscopy, Velys for orthopedic procedures, and Ottava, a soft-tissue robotic system currently in clinical trials. J&J entered the robotics space through acquisitions. It acquired Auris Health in 2019 for $3.4 billion, gaining the Monarch platform and its portfolio in flexible endoscopy. That same year, it took over Verb Surgical, a joint venture with Verily, to bolster its digital and soft-tissue capabilities. In 2018, J&J also acquired Orthotaxy, a French orthopedic robotics startup that became the foundation for the Velys system. Monarch is FDA-cleared for bronchoscopy and urology and has performed over 35,000 lung procedures in the U.S. Velys is FDA-cleared and used for total knee arthroplasty in over 30 countries, with more than 100,000 cases completed globally. Ottava, J&J’s most ambitious project, is a next-generation soft-tissue system with table-integrated arms. It completed its first human cases in 2025 and is targeting FDA clearance by 2026. While robotics is not yet a major revenue driver for J&J, the company continues to invest in platform development and clinical trials. Robotics is positioned as a long-term growth area tied to its broader surgical and orthopedic device portfolio. J&J holds 365 published patents across 36 families in 7 jurisdictions. Much of its IP was gained through M&A, particularly the Auris and Verb acquisitions. Its current portfolio emphasizes flexible robotics, system integration, and digital surgery. J&J’s strength lies in its ecosystem reach and willingness to spend for long-term positioning, but it remains in an earlier stage compared to other incumbents in terms of installed systems and market penetration.

Smith+Nephew

Smith+Nephew is a UK-based medical technology company focused on orthopedics, sports medicine, and wound care. It is publicly traded on the NYSE (SNN) and the London Stock Exchange. The company entered surgical robotics in 2016 through the $275 million acquisition of Blue Belt Technologies, the developer of the Navio robotic system. This acquisition laid the foundation for its current platform, CORI. CORI is a handheld robotic-assisted system for total and partial knee arthroplasty, and now includes navigation for total hip replacement. The platform is FDA-cleared and CE marked. Unlike larger cart-based systems, CORI is compact, mobile, and designed for high-efficiency use in ambulatory surgery centers. Smith+Nephew has prioritized ASC deployment, with a significant portion of CORI installations now in outpatient settings. The company also became the first to receive FDA clearance for robotic-assisted revision knee procedures. Smith+Nephew does not break out robotics revenue separately, but the CORI platform is a key driver of growth in its orthopedics segment. The company’s strategy focuses on portability, affordability, and workflow simplicity to differentiate from larger systems like Mako and ROSA. Smith+Nephew surgical robotics IP includes 961 published patents across 212 families in 9 jurisdictions. Its IP covers handheld guidance tools, optical tracking systems, and digital tensioning technologies. The acquisition of OrthoSensor in 2021 further strengthened its position by adding sensor-based intraoperative data capture capabilities. While smaller in scale than its competitors, Smith+Nephew has carved out a defensible niche in outpatient orthopedics by targeting workflow efficiency and site-of-care flexibility.

Patent Portfolio Comparison

While all incumbents have made strategic investments in robotic systems, their ability to defend those systems varies. This table compares their published patent documents, families, and jurisdictional reach, providing a view into how mature and globally protected each platform really is.

Source: PatentVest platform, 2025 surgical robotics dataset

Intuitive Surgical remains the only company to scale surgical robotics across procedures, revenue, and global infrastructure. Its portfolio of patents, training systems, and recurring revenue creates a defensibility that newer platforms have yet to match. The other incumbents, while technically capable and commercially serious, are still catching up. Whether through internal launches or future M&A, they are likely to define the next phase of competition in robotic surgery. For startups, they are not just the bar. They are the buyer.

7.0 M&A Playbook – Acquisition as a Strategic Entry Point

Over the past two decades, acquisition has proven to be the primary mechanism by which major medical device companies have entered the surgical robotics category. Most incumbent platforms, including those in orthopedic, spine, bronchoscopy, and soft tissue, originated not in-house but through the purchase of earlier-stage companies. These acquisitions were typically triggered by one or more inflection points: regulatory clearance, maturing intellectual property portfolios, and a validated use case within a targeted procedural domain.

Understanding the Timing

Our analysis indicates that most acquisitions occurred after the target platform had received FDA clearance or CE mark approval. At this stage, regulatory risk was minimized, clinical feasibility was demonstrated, and strategic integration became possible. Importantly, the presence of defendable, architecture-level intellectual property significantly increased the likelihood of acquisition. These platforms were not acquired for speculative potential. They were acquired because they aligned with the acquirer’s existing go-to-market strategy, offered IP defensibility, and were ready to scale.

Segmenting the Deal Landscape

We segment historical transactions into four deal structures, each associated with a different level of strategic intent and execution risk.

1. Full-Platform Acquisitions

These transactions reflect high-conviction platform bets. Targets were typically post-clearance, IP-protected, and focused on a defined procedural category.

2. Joint Ventures and Strategic Alliances

These deals allowed acquirers to gain early-stage exposure and technical insight. In several cases, the JV matured into a full acquisition.

3. Licensing and IP Transfers

Transactions in this category were focused on accelerating internal development roadmaps. They typically involved selected patents or technology modules rather than full platforms.

4. Distribution Agreements

These provided acquirers with commercial exposure to external platforms without full ownership risk, often as a precursor to deeper integration.

Key Takeaways for Investors and Operators

The inflection point that consistently triggered full-platform acquisitions was regulatory clearance, followed by IP coverage of core system components.
Most transactions occurred before revenue scale, indicating that proof of platform defensibility outweighed near-term financials.
Acquirers prioritized platform compatibility, integration into existing implant or imaging stacks, over novelty or brand visibility.

For founders and investors in surgical robotics, these patterns offer a clear roadmap: build toward clearance, protect what matters, and solve for plug-in fit.

8.0 Why This Still Matters – The Untapped Opportunity

A Category with Proven Value, but Limited Penetration

Despite advances in diagnostics, imaging, and therapeutics, surgery remains largely manual. Globally, over 310 million surgical procedures are performed annually, yet fewer than 6% are conducted using robotic systems. In the United States alone, more than 40 million major procedures are performed each year, but the vast majority still rely on traditional approaches.

The clinical benefits of robotic-assisted surgery are well documented. Studies consistently point to improved precision, fewer complications, and reduced recovery time. Yet the field remains underpenetrated. Deployment friction, not clinical skepticism, is holding it back. High capital requirements, complex workflows, staffing demands, and reimbursement limitations have restricted adoption to a small subset of high-acuity procedures in leading institutions.

Most of the global market remains untouched. Industry estimates place the total addressable opportunity between $136 billion and $150 billion, with nearly 95% of eligible procedures still performed manually. According to a 2023 report by Allied Market Research, the global surgical robotics market could more than double in size, reaching $188.8 billion by 2032. Yet fewer than 1 in 20 procedures that could benefit from robotics currently involve a robotic system. This disconnect represents one of the largest under-monetized opportunities in the healthcare technology landscape.

Enabling Access, Not Displacement

The current generation of robotic platforms was built for a different era, defined by multi-arm systems, large operating rooms, and capital-intensive flagship hospitals. While these systems have proven effective in high-volume procedures such as prostatectomy and hysterectomy, they are not easily transferable to lower-resource settings.

The next wave of innovation is not focused on replacing existing platforms. Instead, it is focused on enabling new use cases: outpatient centers, specialty clinics, and emerging markets. Rather than extending the same model, emerging systems are being designed to reduce barriers: smaller form factors, modular configurations, simplified workflows, and pricing structures aligned with ambulatory settings.

What’s Changing in System Design

As robotics moves beyond flagship hospitals, platform requirements are shifting. Emerging systems are no longer optimized for maximum feature density. Instead, they are optimized for fit: physical footprint, workflow compatibility, procedural specificity, and cost-to-serve. Five design shifts are consistently emerging across next-generation platforms:

Modularity: Systems are increasingly built with flexible, reconfigurable components. This enables faster setup, easier sterilization, and tailored configurations based on procedural needs.
Portability: Mobile, cart-based designs are replacing fixed-console installations. These systems can be deployed across rooms or facilities, particularly in outpatient and ASC environments.
Single-port access: Smaller anatomical spaces, such as those in urology, ENT, and gynecology, require instruments that can operate through a single incision. This has driven the adoption of compact, multi-function robotic arms.
Procedure-specific architecture: Instead of general-purpose systems, many emerging platforms are optimized around a single procedural workflow. This reduces complexity and accelerates training and adoption.
Digital integration: Platforms are increasingly bundled with vision systems, navigation, and analytics. These tools improve intraoperative decision-making, reduce variability, and support post-procedural analysis and credentialing.

These shifts are not cosmetic. They are structural responses to the core constraints preventing wider adoption: OR time, capital intensity, staff training, and room size. In this way, system design becomes not just a product differentiator but a strategic enabler of access.

Why Scale Remains Constrained

The primary obstacle to broader adoption of surgical robotics is not clinical efficacy. It is operational scalability.

Four structural constraints continue to limit deployment:

Capital Intensity: Most legacy systems require upfront investment between $1 million and $2.5 million, with additional annual service contracts and per-procedure disposables. These economics remain prohibitive for many hospitals and nearly all ambulatory surgery centers (ASCs).
Workflow Complexity: Robotic procedures often require longer setup times, dedicated teams, and workflow changes that disrupt OR throughput. In low-margin settings, these inefficiencies become cost-prohibitive.
Training and Credentialing: The learning curve for robotic systems can be significant, especially in low-volume centers. In many cases, the return on training investment does not justify system adoption.
Facility Constraints: Large, fixed-installation systems are incompatible with many ASC and community hospital environments. Physical footprint, power requirements, and sterile field limitations reduce the number of viable deployment sites.

These constraints are not temporary. They are baked into the economics and operational realities of modern surgical delivery. Platforms that do not directly address these challenges are unlikely to expand beyond today’s installed base, regardless of technical capability.

9.0 Conclusion – Defensibility Is the New Differentiator

The surgical robotics category is no longer defined by a single architecture or access strategy. It is a fragmented market with highly specialized platforms-each solving for a different constraint, clinical workflow, or deployment challenge. This report has profiled 28 emerging companies across every major indication: general surgery, orthopedics, neuro, cardiovascular, GYN, dental, ENT, and NOTES. Some are cleared and in use. Others are capitalized and approaching inflection. All are competing for leadership in one of the largest underpenetrated opportunities in healthcare technology. What separates contenders from short-lived challengers is not funding alone, but alignment across four key dimensions:

IP Control: Broad, architecture-level claims that protect robotic actuation, access, and integration
Regulatory Progress: FDA clearance or clearly staged IDE/CE milestones
Deployment Fit: Platforms designed for ASC workflows, outpatient scaling, or emerging markets
Capital Efficiency: Funding timed to regulatory and clinical inflection, not ahead of it

In a field where many platforms look similar on the surface, defensibility is now the defining differentiator. The incumbents are watching. The acquisition patterns are clear. And for the first time in two decades, the category is open. The next market leaders won’t just build robotics systems. They’ll build systems that scale technically, commercially, and strategically.