Guoxin Securities: The Rise of Domestic Endoscopic Surgery Robots Import Substitution and Going Global Simultaneously

Guotai Junan Securities released a research report stating that endoscope surgical robots are the most mature core sector in the commercialization of surgical robots, with the strongest clinical certainty. The industry is shifting from absolute dominance by imports to diversified domestic competition. The configuration certificate has been adjusted from Class A to Class B, and the "14th Five-Year Plan" quota has been expanded. The charging standards for surgical robots will be established in January 2026, along with a clear four-level surcharge system. The pilot program for service leasing in Beijing has been launched, and the entry barriers for hospitals are continuously decreasing, which is expected to accelerate the installation and deployment rate. Domestic brands are rapidly penetrating the overseas market with more cost-effective equipment and remote surgical qualifications, entering an accelerated phase of going abroad. Attention should be paid to leading companies that possess the three attributes of "technical benchmarking against international standards + cost-effectiveness advantage + commercial leadership."