Episode summary
Growth in Global Surgical Robotics Market | Bloomberg Businessweek
Bloomberg Businessweek Daily
· · 8 min · Hosts: Carol Massar, Tim Stenovec · Guests: Sudhir Srivastava
Summary
The discussion centered on how the surgical robotics market is widening beyond Intuitive Surgical’s da Vinci system, after J&J brought a soft-tissue robot to market and Intuitive reported slower procedure growth in the U.S. The host framed the segment around whether newer entrants can benefit from changing demand, including pressure in bariatric procedures tied to GLP-1 weight loss drugs.
Dr. Sudhir Srivastava said SS Innovations’ system is designed to compete on breadth of capability and price. He described it as different from da Vinci in console design, modular arm configuration, and built-in tele-proctoring and telesurgery, and said surgeons can learn it quickly, especially if they already know robotic surgery. He also said the company has sold 224 systems in India and has completed almost 13,000 cases, including cardiac procedures.
Srivastava argued that the U.S. is the key growth opportunity once FDA approval arrives, which he expects by the third quarter of next year. He said the company aims to offer a system that is less than half the price of the da Vinci V5 in the U.S., while targeting hospitals and ambulatory surgery centers. He also said investor skepticism is mostly about waiting for U.S. approval and U.S. revenue.
Key takeaways
- Srivastava said SS Innovations’ system differs from da Vinci in console design, modular arms, and built-in tele-proctoring and telesurgery.
- He said surgeons already familiar with da Vinci can learn the system in 5 to 10 minutes, while novice robotic surgeons may need 20 to 30 minutes.
- Srivastava said SS Innovations has sold 224 systems in India and completed almost 13,000 cases, including cardiac surgery.
- He expects U.S. FDA approval by the third quarter of next year and says U.S. revenue is what investors want to see.
- He said the company expects its U.S. price to be somewhat less than half the price of the da Vinci V5.
Notable quotes
“our the SSI mental system is different than da Vinci almost at every level other than fundamentally it is still a surgical robot”
“we have sold 224 system. Almost 13,000 cases now have been done including cardiac”
“by hopefully third quarter of next year we will achieve some approval from US FDA”
“it will be somewhat less than half the price that of the DV5 with again, better opportunities”
“they're waiting for us to get the US approval and they want to see US revenues”
How the episode opens
Bloomberg audio studios podcasts radio news. — You're listening to Bloomberg Business Week with Carol Massar and Tim Stenovec on Bloomberg radio.
Hey, we got a few developments from the world of robotic surgery after more than a decade of research and years of delays J&J now has a robot on the market for soft tissue surgery. That news came out yesterday. Meantime intuitive surgical shares Um we saw them under pressure again last week as growth in the use of its da Vinci surgical robot slowed to the weakest pace in 4 years and its guidance for procedure growth was unchanged due to softer US growth in procedures reflected um because of changes to Affordable Care Act subsidies.
Company also said I thought this was interesting.
This is so cool. I mean so interesting, right? — Yeah, that US da Vinci bariatric cases in particular experienced pressure from patient usage of GLP-1 weight loss drugs. So — People are getting bariatric surgery because they're using GLPs instead. — That's the read through.
Okay. — Yeah.
Curious if any of this at this point is affecting our next guest. Back with us Dr. Sudhir Srivastava, chairman, CEO, and founder of the US-based SS Innovations International.
It makes medical equipment. It develops surgical robotic technologies. It's a $683 million market cap with US shares down about 40% this year.
He joins us from Fort Lauderdale. Good to have you on the program. I think a lot of people when they think surgical robotics they they think about the da Vinci machine from Intuitive Surgical.
How does your product at SS Innovations International differ from the da Vinci surgical robot?
Yeah, it's a good starting question. First of all, thank you very much for having me. Um so our the SSI mental system is different than da Vinci almost at every level other than fundamentally it is still a surgical robot.
From the episode’s captions: roughly the first two minutes, lightly cleaned. Keep watching on YouTube →
Topics
- surgical robotics
- market growth
- healthcare technology
- telesurgery
- hospital capacity
Companies and tickers mentioned
- ISRG
- SS Innovations
- Intuitive
Watch the episode
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Summary, takeaways and quote selection by Octagon. Quotes are short excerpts; the full conversation is in the episode.
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