Guosen Securities Co., Ltd. has released a research report identifying laparoscopic surgical robots as the most commercially mature and clinically validated segment in the surgical robotics field. The industry is shifting from absolute import dominance to a diversified domestic competitive landscape. Key catalysts include the reclassification of configuration certificates from Class A to Class B, expanded quotas under the "14th Five-Year Plan," the establishment of surgical robot pricing standards with a four-tier surcharge system effective January 2026, and the rollout of service leasing pilots in Beijing. These measures are lowering barriers for hospital adoption, potentially accelerating installation volumes. Chinese brands are leveraging cost-effective equipment and remote surgery approvals to rapidly penetrate overseas markets, entering an accelerated phase of global expansion. The report focuses on leading companies with "technology comparable to international peers, cost advantages, and commercial leadership."

Laparoscopic Surgical Robots: The Most Commercially Mature and Clinically Validated Core Segment

Compared to open surgery and traditional minimally invasive procedures, robot-assisted surgery offers systemic clinical benefits in operational precision, visual feedback, intraoperative safety, and postoperative recovery, while reducing surgeon musculoskeletal fatigue. Intuitive Surgical's da Vinci system received FDA approval in 2000, initiating large-scale clinical use of laparoscopic surgical robots. The da Vinci entered China in 2008, but the market was long dominated by imports. In 2021, Weigao's MicroHand-S received the first domestic registration certificate, and since 2022, domestic products like Toumai, Kangduo, and Jingfeng's MP1000 have been approved, leading to a diversified domestic competitive landscape.

Import Substitution Enters a Pivotal Year with Key Policy Catalysts Clearing Commercial Obstacles

In 2025, for the first time, domestic brands accounted for over 50% of public hospital laparoscopic surgical robot tender wins, signaling a shift from absolute import dominance to diversified domestic competition. In the multi-port segment, domestic products from Jingfeng, MicroPort, Sieray, Weigao, and Connsurge have been approved, offering superior cost-effectiveness vs. imports. The single-port segment has a more favorable competitive landscape, as the da Vinci SP has not yet been approved in China. Products like Jingfeng's SP1000, MicroPort's Toumai single-port, and ShuRui have been approved earlier and are entering clinical promotion, giving domestic players a first-mover advantage. Policy-wise, the reclassification of configuration certificates, expanded quotas, and the January 2026 pricing standards with a four-tier surcharge system, along with Beijing's service leasing pilot, are continuously lowering adoption barriers for hospitals, potentially accelerating installation volumes.

Chinese Surgical Robot Exports Accelerate into Global Markets

Globally, the laparoscopic surgical robot market has long been monopolized by Intuitive Surgical's da Vinci system, which held an 83% share of global multi-port laparoscopic robot sales in 2024. However, emerging markets face challenges such as high procurement and maintenance costs and inadequate localized services, creating a differentiation window for Chinese companies. Domestic brands are leveraging cost-effective equipment and remote surgery approvals to quickly enter overseas markets. For example, MicroPort's 2025 overseas revenue reached RMB 4.0 billion, surging 287% year-over-year, with overseas revenue contributing 73% of total revenue, up from 40% in 2024. Its Toumai system has received global orders for over 300 units, covering more than 60 countries and regions. Jingfeng Medical's 2025 overseas revenue was RMB 2.72 billion, accounting for nearly 50% of total revenue. Chinese surgical robot exports are entering an accelerated phase.

Focus on Leading Companies with "Technology Comparable to International Peers, Cost Advantages, and Commercial Leadership"

Intuitive Surgical, as a global leader, has a mature "equipment + consumables + services" model, with consumables revenue exceeding 60% in 2025. The da Vinci 5 has entered a volume ramp-up phase, serving as the industry valuation anchor. Among Chinese companies, MicroPort reported 2025 revenue of RMB 5.51 billion (+114%), with overseas revenue becoming a core engine. Its net losses have narrowed for three consecutive years, and it is expected to achieve profitability in the first half of 2026. Jingfeng Medical is experiencing high growth and high margins, with a multi-port, single-port, and remote surgery "three-in-one" platform building a globally leading minimally invasive surgical solution.

Risks

Risks include potential R&D failures, slower-than-expected product commercialization, intensifying competition, regulatory changes, and slower-than-expected overseas expansion.