Medical-device growth in 2026 is increasingly tied to commercial and clinical execution rather than technology announcements alone. Silicon Valley Bank reported that investment in the device sector increased 1.5% during 2025 even as overall healthcare investment declined and investors became more selective. The strongest companies are generally showing evidence through revenue, procedure volume, hospital adoption, reimbursement, regulatory progress, or capital-efficient expansion. Healthcare investment trends increasingly favor companies with clinical validation and operating traction.
This development is also changing what counts as a medical device business. Many current platforms combine hardware with software, recurring instruments, remote monitoring, clinical analytics, training, and service infrastructure. As a result, growth needs to be assessed across installed systems, patient use, physician adoption, regulatory access, and the wider commercial network supporting each product.
Key Takeaways
- Surgical robotics companies are expanding through procedure growth, new systems, broader indications, and entry into additional hospital settings
- Cardiovascular devices are gaining adoption through wearable monitoring, neuromodulation, reimbursement, and new treatment-center activation
- Regulatory clearance is only one stage of growth, with physician training, hospital procurement, payer coverage, and recurring utilization determining commercial scale
- Emerging technologies such as histotripsy and brain-computer interfaces are moving from feasibility studies toward longer-term clinical and commercial programs
- Landbase helps GTM teams map MedTech growth through regulatory, clinical, installation, funding, hiring, conference, and geographic-expansion signals
1. PROCEPT BioRobotics
CEO: Larry Wood
Headquarters: San Jose, California, United States
Aquablation Procedure Momentum
PROCEPT generated $83.1 million in first-quarter 2026 revenue, representing 20% year-over-year growth. Approximately 12,200 Aquablation procedures were completed in the United States during the quarter, an increase of about 30%.
The company sold 49 HYDROS systems in the United States and ended March with an installed base of 765 systems, 40% higher than a year earlier. International revenue increased 25% to $11.1 million.
Installed Base and Indication Expansion
PROCEPT develops robotic systems for Aquablation therapy, which uses a robotically controlled waterjet to remove prostate tissue. The technology is currently used to treat lower urinary tract symptoms caused by benign prostatic hyperplasia.
The company is also studying Aquablation in prostate cancer. In May 2026, it completed enrollment in the randomized WATER IV study and received expanded FDA investigational approval for an additional prostate-cancer study.
2. Intuitive Surgical
CEO: Dave Rosa
Headquarters: Sunnyvale, California, United States
da Vinci 5 Adoption
Intuitive generated $2.77 billion in first-quarter 2026 revenue, an increase of 23%. Combined da Vinci and Ion procedure volume grew approximately 17%, including 16% growth for da Vinci procedures and 39% growth for Ion procedures.
The company placed 431 da Vinci systems during the quarter, compared with 367 a year earlier. Of those installations, 232 were da Vinci 5 systems. Its worldwide da Vinci installed base reached 11,395 systems, representing 12% growth.
Procedure-Led Platform Scale
The da Vinci platform supports robotic-assisted procedures across several surgical specialties, while the Ion system supports minimally invasive lung biopsy. Intuitive also supplies the instruments, accessories, software, training, and services used with its systems.
More than 20 million patients had undergone da Vinci procedures by the end of 2025, including over 3.1 million procedures during that year. This creates a recurring business model tied to clinical use as well as system placements.
3. Boston Scientific
Chairman and CEO: Mike Mahoney
Headquarters: Marlborough, Massachusetts, United States
Cardiovascular Portfolio Momentum
Boston Scientific generated $5.20 billion in first-quarter 2026 net sales, an increase of 11.6% on a reported basis and 9.4% organically. Cardiovascular revenue increased 13.5% as reported and 11.2% organically.
Neuromodulation sales increased 17.4%, while endoscopy revenue rose 9.4%. Growth was recorded across the United States, Europe, Asia-Pacific, Latin America, and Canada.
Scale Through Category Expansion
Boston Scientific develops devices for cardiology, electrophysiology, endoscopy, urology, peripheral interventions, and neuromodulation. Its portfolio includes implantable devices, catheters, endoscopic systems, ablation tools, and technologies for minimally invasive treatment.
The company’s growth is supported by a combination of internal product development and acquisitions. Its broad product base also allows new technologies to move through an established global commercial and hospital network.
4. Kestra Medical Technologies
President and CEO: Brian Webster
Headquarters: Kirkland, Washington, United States
Prescription and Revenue Acceleration
Kestra generated $95.1 million in fiscal-year 2026 revenue, an increase of 59%. Fourth-quarter revenue rose 66% to $28.6 million, while gross margin improved from 44.3% to 54.8%.
The company received 20,720 prescriptions for its ASSURE system during the fiscal year, representing 57% growth. Kestra reported that the platform protected 18,000 patients during the period.
Connected Cardiac Recovery Platform
The ASSURE Wearable Cardioverter Defibrillator continuously monitors heart rhythms and can deliver therapy when it detects selected life-threatening ventricular arrhythmias. The wider platform includes patient engagement and clinical workflow capabilities.
Kestra also entered a collaboration with Biobeat to explore continuous, cuffless blood-pressure monitoring during cardiac recovery. In July 2026, it secured a financing facility of up to $200 million to support continued commercialization and potential acquisitions.
5. HistoSonics
President and CEO: Mike Blue
Headquarters: Minneapolis, Minnesota, United States
Coverage and International Access
HistoSonics completed a $250 million growth financing in October 2025 after announcing a management-led majority-stake acquisition valued at $2.25 billion. The company also expanded insurance coverage for its Edison system to 45.4 million Elevance Health members.
In 2026, HistoSonics received regulatory approval in Taiwan and a CE Mark for commercialization in Europe. It also expanded its physician-training operations in Hong Kong.
Histotripsy Application Pipeline
The Edison system uses focused ultrasound pulses to mechanically destroy targeted liver tumors without incisions or needles. The FDA granted the platform De Novo marketing authorization in 2023 for noninvasive destruction of liver tumors.
HistoSonics is evaluating the platform for additional uses. It submitted a kidney-tumor application to the FDA in May 2026 and began treating patients in a study evaluating the technology for benign prostatic hyperplasia. These uses remain investigational where they have yet to receive regulatory authorization.
6. CMR Surgical
CEO: Massimiliano Colella
Headquarters: Cambridge, United Kingdom
Versius Case Volume
CMR Surgical reported that more than 45,000 patients had been treated using its Versius robotic systems by March 2026. The platform had been adopted across more than 30 countries and several surgical specialties.
The company had reported 30,000 completed procedures when it raised more than $200 million in equity and debt financing in April 2025. The capital was directed toward global commercialization and entry into the United States.
U.S. Commercial Entry
Versius Plus received FDA 510(k) clearance for cholecystectomy in December 2025. CMR began introducing the system to U.S. surgeons and healthcare organizations during 2026.
The company submitted another 510(k) application in April 2026 seeking clearance for benign gynecologic procedures. CMR is also developing a digital ecosystem that combines system telemetry, procedural video, training information, and clinical data.
7. Paradromics
Founder and CEO: Matt Angle
Headquarters: Austin, Texas, United States
First Long-Term Human Implant
Paradromics completed the first long-term implantation of its Connexus brain-computer interface in June 2026 at University of Michigan Health. The procedure formed part of the FDA-approved Connect-One Early Feasibility Study.
The FDA granted investigational-device approval for the study in November 2025. The initial trial is designed to evaluate long-term safety in two participants with severe motor impairment.
Speech Restoration Development
Connexus uses an implantable microelectrode array to record neural activity. Signals are sent to a transceiver implanted in the chest and then transmitted to an external receiver.
The study will examine whether the system can decode intended speech and support computer control. The device remains investigational and is unavailable for commercial sale.
8. Moon Surgical
CEO: Anne Osdoit
Headquarters: Paris, France, and San Carlos, California, United States
Commercial Rollout in Surgery Centers
Moon Surgical’s Maestro platform is commercially available in the United States and Europe. The company received FDA clearance for its commercial system in 2024 and subsequently launched the platform in hospitals and ambulatory surgery centers.
Maestro is designed to support laparoscopic surgery using robotic arms that hold and position standard instruments and scopes. Its compact setup is intended to integrate with existing operating-room workflows.
Physical AI for Surgical Workflow
Moon Surgical released software version 2.7 in June 2026, adding AI capabilities for platform setup, intraoperative assistance, and post-procedure administration. The company describes the update as an expansion from one AI function into a multimodel platform.
Moon and Uncovr also reported the first 20 clinical cases using automated operative-report generation based on laparoscopic video. This capability is designed to reduce documentation work after surgery, although its commercial and clinical value will depend on wider deployment and validation.
9. TransMedics
Founder, President, and CEO: Waleed Hassanein
Headquarters: Andover, Massachusetts, United States
Organ Care System Utilization
TransMedics generated $173.9 million in first-quarter 2026 revenue, representing 21% year-over-year growth. The increase was primarily attributed to greater use of the Organ Care System for liver and heart transplantation, along with logistics revenue.
The company reiterated full-year revenue guidance of $727 million to $757 million, which would represent 20% to 25% growth. It was also advancing programs for heart, lung, and kidney transplantation.
Integrated Transplant Logistics
The Organ Care System maintains donor hearts, lungs, and livers in a functioning state outside the body while supporting assessment and transportation. TransMedics combines the device platform with its National OCS Program and dedicated aviation network.
The company owned 22 aircraft at the end of the first quarter and completed a strategic investment in PAD Aviation in July 2026. The transaction supports its plan to build a dedicated European transplant-logistics network.
10. CVRx
President and CEO: Kevin Hykes
Headquarters: Minneapolis, Minnesota, United States
Implanting Center Expansion
CVRx generated $14.8 million in first-quarter 2026 revenue, representing 20% growth. U.S. revenue increased 22%, while the number of active U.S. implanting centers rose from 227 to 257.
The company recorded 429 U.S. revenue units during the quarter, compared with 359 a year earlier. It also expanded its U.S. sales organization to 56 territories.
Coverage and Clinical Evidence
CVRx develops Barostim, an implantable neuromodulation system for selected patients with heart failure. The device stimulates baroreceptors to activate the body’s cardiovascular regulatory pathways.
Humana introduced a Medicare Advantage coverage policy for Barostim in May 2026, covering approximately 5.2 million Medicare Advantage members under specified conditions. CVRx also enrolled the first participant in its BENEFIT-HF study, which is evaluating the therapy in a broader heart-failure population.
How Landbase Helps Map MedTech Commercialization
Medical-device growth often follows a sequence of regulatory, clinical, and commercial milestones. A company may receive clearance, begin physician training, add treatment centers, secure payer coverage, expand manufacturing, or enter a new country.
Landbase provides deep company insights that can help teams research funding, hiring, expansion, and other developments around device manufacturers and their supplier networks.
Relevant MedTech audiences may include:
- Surgical robotics companies increasing system installations
- Device businesses hiring after FDA clearance
- Cardiovascular companies gaining payer coverage
- Manufacturers adding quality or regulatory teams
- Hospital systems adopting new procedural platforms
- Device suppliers expanding production capacity
- International companies entering the U.S. market
Industry events also provide a direct view into emerging partnerships and buying groups. Conference attendee lists can help identify executives, clinical leaders, distributors, manufacturers, and service providers participating in medical-device and healthcare events.
Landbase can match and enrich account records, identify relevant contacts, and preserve findings as reusable datasets. Technical GTM teams can use Landbase CLI through Claude Code, Codex, scripts, or a terminal for market mapping, event preparation, supplier research, and CRM enrichment.
Frequently Asked Questions
Which signals show that a medical device company is growing?
Useful signals include higher revenue, rising procedure volume, new system installations, expanded treatment-center networks, and broader reimbursement. Regulatory clearances and clinical-trial progress can provide evidence for earlier-stage companies that have yet to generate substantial revenue. Manufacturing expansion, distributor appointments, and commercial hiring can also indicate preparation for growth. Several indicators should be considered together because funding or regulatory clearance alone does not establish sustained adoption.
Why is procedure volume important for medical device companies?
Procedure volume shows whether installed devices are being used in routine clinical care. Higher utilization can increase revenue from instruments, disposables, service contracts, monitoring, and software. It can also provide hospitals and clinicians with more operating experience and real-world evidence. Growth in the installed base is more meaningful when procedure use increases alongside it.
How does reimbursement affect medical device adoption?
Hospitals and patients often depend on insurers or public programs to cover procedures involving medical devices. A device can receive regulatory authorization while still facing limited adoption if reimbursement remains unclear or inconsistent. Coverage policies, coding, and payment rates therefore influence whether healthcare providers can offer a technology at scale. Reimbursement decisions should still be evaluated alongside clinical eligibility and the specific terms of each policy.
Why do medical device startups require substantial capital?
Medical-device development can involve engineering, manufacturing, quality systems, preclinical testing, clinical studies, and regulatory submissions. Commercialization can also require physician training, hospital support, inventory, reimbursement work, and post-market monitoring. These activities often begin years before the company reaches meaningful revenue. Funding needs therefore vary according to the complexity, risk classification, and intended use of the device.
Which buying signals matter when targeting medical device companies?
Strong signals include regulatory clearances, trial enrollment, hospital installations, payer coverage, commercial launches, and entry into new markets. Hiring in clinical affairs, quality, regulatory, manufacturing, reimbursement, supply chain, and commercial operations can reveal where investment is increasing. Conference attendance and distributor agreements can provide additional context about partnerships and geographic priorities. Landbase supports this research through company intelligence, event data, record enrichment, and structured audience datasets.
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