ISRG SP Platform's Expansion in Korea and Europe Gains Traction

Intuitive Surgical’s ISRG second-quarter earnings underscored the accelerating momentum of its single-port (SP) platform, with international adoption emerging as a notable growth driver. Korea continues to lead, posting a 112% year-over-year increase in SP procedures, supported by highly efficient, high-usage programs that demonstrate both clinical versatility and operational scalability. The country has become a bellwether for how SP can be integrated broadly across specialties, offering a model for adoption elsewhere.

Europe, though still in its early stages of rollout, is showing steady progress. Utilization levels are gradually improving, and surgeon uptake is benefiting from expanding indications and new product clearances. A key milestone during the quarter was regulatory approval of a 50-use endoscope, which lowers per-procedure costs and supports greater system efficiency. In addition, 510(k) clearance for transanal local excision and resection adds to SP’s colorectal toolkit, strengthening its ability to capture more complex surgical cases.

This traction outside the United States is strategically important, given the macro headwinds in China and Japan, where constrained hospital capital budgets and competitive dynamics are tempering growth. By contrast, Korea’s rapid adoption and Europe’s measured expansion highlight the SP platform’s ability to scale even in challenging environments.

For investors, the story is less about the number of new placements — just 23 SP systems in the second quarter — and more about the 30% increase in utilization, signaling higher throughput per installed system. As SP continues to diversify into colorectal, thoracic, and transanal procedures, its expanding global footprint could serve as a key differentiator for Intuitive Surgical, offsetting regional pressures and positioning the company for long-term procedure growth beyond its multiport portfolio.

Competitive Snapshot

Stryker’s SYK Mako platform continues to gain traction, with management highlighting strong global utilization growth alongside record installations in second-quarter 2025. As hospitals maximize their existing Mako systems, the surge in procedure volumes is driving higher recurring revenues through consumables and software services.

This utilization-driven growth is increasingly important as Stryker navigates tariff pressures and cost headwinds. With expanded applications like hip revision, spine, and soon shoulder procedures, Mako’s procedural throughput is poised to accelerate further, enhancing the platform's long-term revenue visibility and margin resilience. Mako is quietly becoming Stryker’s high-value recurring revenue engine.

Zimmer Biomet’s ZBH ROSA robotics platform saw ongoing adoption in knee procedures, but results were more muted. While ROSA volume-based placements contributed to a mix shift versus outright sales, ROSA was mentioned as central to ZBH’s robotic strategy in 2025.

The company emphasized the growing uptake of cementless knee and hip implants, including the Oxford Partial Cementless Knee, which complements robotic workflows. Though specific ROSA installation figures weren’t disclosed, the system remains integral to ZBH’s ASC and digitization strategy. Management cited increased commercial focus and expanded surgical capabilities as key growth drivers, but acknowledged tariffs and ongoing pressure on operating margins as near-term headwinds.

ISRG’s Price Performance, Valuation and Estimates

Shares of ISRG have lost 9.1% in the year-to-date period compared with the industry’s decline of 17.9%.

From a valuation standpoint, Intuitive Surgical trades at a forward price-to-earnings ratio of 49.9, above the industry average. But it is still lower than its five-year median of 71.84. ISRG carries a Value Score of D.

The Zacks Consensus Estimate for Intuitive Surgical’s 2025 earnings implies a 14.6% 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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