Introduction: The recent growth and integration of artificial intelligence (AI) into medical products have the potential to revolutionize surgical care. The private sector is largely responsible for this innovation. We aimed to characterize the growth, aims, and finances of private industry AI solutions within surgery.
Methods: An initial search using the CB Insights market intelligence platform returned 126 private companies; 20 met the exclusion criteria. Three independent reviewers extracted variables of interest, including company demographics, product classification, surgical subspecialty of interest, funding, valuation, and acquisition status. Product purpose and functionality were characterized in detail.
Results: The first company was founded in 2003, with 50% (n=53) founded between 2015 and 2019. General surgery (n=57) and orthopedics (n=21) were the most common surgical subspecialties. The most common product categories were intraoperative image analysis (n=25), aiming to improve the visualization or navigation of the surgical site, and diagnostic imaging (n=18), aiming to improve the efficiency and accuracy of diagnosis and surgical planning. Of note, 12 companies aimed to increase the autonomy of surgical robotics. Finances were notably right-skewed, and total industry valuation exceeded one billion dollars, while six companies had been acquired.
Conclusions: There are numerous companies implementing AI solutions, and financial investment is high. Given the rapid pace of development, surgeon input is needed to reconcile product development with patient-centered care. Clinician participation in private industry development may address health inequities, shape the future role of surgeons in the operating room, and ensure safeguards with regulatory oversight and improved data reporting.
Keywords: artificial intelligence; healthcare management; innovation; outcomes; surgery.
Copyright © 2025, Shah et al.