Intuitive Surgical Demonstrates Significant Advancements in Robotic-Assisted Surgery

Intuitive Surgical Demonstrates Significant Advancements in Robotic-Assisted Surgery$ISRG

Intuitive Surgical, Inc. has announced its unaudited preliminary financial results for the fourth quarter and the full year of 2023, showcasing substantial growth in the utilization of its da Vinci surgical systems and an increase in procedure volumes on a global scale.

The company, a frontrunner in the realm of minimally invasive care and a trailblazer in robotic-assisted surgery, has reported a 21% surge in worldwide da Vinci procedures during the fourth quarter of 2023 compared to the same timeframe in the previous year. This notable rise is in the face of the previous year’s COVID-19-related challenges, particularly in China. The full year saw a 22% increase in da Vinci procedures, with preliminary revenue for the fourth quarter reaching approximately $1.93 billion, marking a 17% increase from the $1.66 billion in the fourth quarter of 2022. The full-year revenue also experienced a robust growth, ascending to approximately $7.12 billion, a 14% climb from $6.22 billion in the previous year.

The instruments and accessories segment of the company witnessed a 22% revenue increase in the fourth quarter to roughly $1.14 billion, primarily due to the growth in da Vinci procedure volume and an uptick in pricing for these components. The full-year revenue for this segment mirrored this percentage increase, totaling approximately $4.28 billion.

System placements have also seen an upward trajectory, with 415 da Vinci surgical systems placed in the fourth quarter of 2023, a 12% increase from the 369 systems placed in the corresponding quarter of the previous year. The total number of systems placed throughout 2023 reached 1,370, an 8% increase from 2022. The rise in procedure volume has been significantly driven by a 25% increase in US general surgery procedures and a 27% increase in procedures conducted outside of the US, with cancer-related procedures playing a considerable role.

The systems revenue for the fourth quarter saw a 6% increase to approximately $480 million, while the full-year systems revenue remained stable at about $1.68 billion. The fourth quarter also highlighted a shift in customer preferences, with 201 systems placed under operating lease arrangements, and 109 of these under usage-based operating lease arrangements, a change from the previous year’s fourth quarter.

The preliminary financial results for the fourth quarter and full year of 2023 from Intuitive Surgical reflect the company’s sustained growth and the escalating adoption of its da Vinci surgical systems. The escalation in procedure volumes and system placements accentuates the company’s impact and the efficacy of its technology in the sphere of minimally invasive surgery. With its dedication to innovation and enhancing patient care, the company is well-positioned to continue its trajectory in the healthcare industry. The expected rise in worldwide procedures for the upcoming year further affirms the company’s dedication to the evolution of surgical care across the globe.2024-01-10T08:21:23.210Z

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