ISRG's Ion Platform Procedure Grows 52%: Can This Trend Continue?

Intuitive Surgical’s ISRG Ion platform continued its steep growth trajectory in the second quarter of 2025, with procedures surging 52% year over year to roughly 35,000. This performance underscores the system’s increasing role in minimally invasive lung diagnostics and interventions, an area with significant long-term potential.

The quarter marked Ion’s first commercial procedures in Australia and Korea, expanding the platform’s global footprint. While the installed base grew to 905 systems, capital placements fell to 54 from 74 in the prior-year period, reflecting the challenge of scaling hardware sales even as utilization improves. Average system utilization climbed 8% year over year, signaling stronger engagement from existing customers.

The Ion’s trajectory draws inevitable comparisons to the early adoption curve of Intuitive Surgical’s flagship da Vinci system. If Intuitive can replicate that success in pulmonary care, Ion could open a multi-billion-dollar opportunity by transforming the standard of care for early lung cancer diagnosis and other thoracic procedures.

However, the slowdown in system placements highlights a near-term bottleneck. Hospital capital budgets, particularly outside the United States, remain under pressure from macroeconomic and trade headwinds, potentially affecting expansion. The focus will likely remain on deepening utilization and demonstrating economic value to support broader uptake.

Still, with strong procedural momentum, expanding international presence and a growing body of clinical validation, Ion remains one of Intuitive Surgical’s most promising growth vectors. The next test will be whether the company can turn rising case volumes into sustained capital demand, setting the stage for Ion to follow in da Vinci’s footsteps as a transformative platform in its field.

Competing Robotic Surgery Updates

At the 2025 AAOS Annual Meeting, Stryker SYK introduced its fourth-generation Mako SmartRobotics system, Mako 4, featuring the first FDA-cleared robotic hip revision capability. With this advancement, Stryker enhances surgical planning and execution across hip, knee, spine and shoulder procedures. Mako 4 integrates Stryker’s Q Guidance System, offering improved intraoperative visibility and streamlined workflows.

Simultaneously, Globus Medical GMED showcased its ExcelsiusFlex robotic navigation system for Total Knee Arthroplasty. Globus Medical’s system offers both CT-based and imageless registration options, providing surgeons with ergonomic control and procedural flexibility. Globus Medical’s ExcelsiusFlex is designed to enhance surgical precision and accommodate diverse patient needs and surgeon preferences.

ISRG’s Price Performance, Valuation and Estimates

Shares of ISRG have lost 8.3% in the year-to-date period compared with the industry’s decline of 10.2%.

From a valuation standpoint, Intuitive Surgical trades at a forward price-to-sales ratio of 16.13, above the industry average. However, it is still lower than its five-year median of 26.91. ISRG carries a Value Score of D.

The Zacks Consensus Estimate for Intuitive Surgical’s 2025 earnings implies an 11.3% rise from the year-ago period’s level.

The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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This article originally published on Zacks Investment Research (zacks.com).

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