Orthopedics Drives Image Guided Surgery Revenue
According to Millennium Research Group (MRG), demand for MI procedures is driving growth in the U.S. image guided surgery (IGS) market, and will generate in excess of $170 million in revenue by 2010, an increase of more than $50 million from 2005.
(PRWEB) July 25, 2005 -- As medical technologies and techniques continue to develop, patients and surgeons throughout the United States are demanding minimally invasive (MI) procedures due to the improved surgical outcomes they provide.
According to Millennium Research Group (MRG), demand for MI procedures is driving growth in the US image guided surgery (IGS) market, and will generate in excess of $170 million in revenue by 2010-an increase of more than $50 million from 2005. Such growth makes IGS one of the most exciting capital equipment markets in the US. The installed base of orthopedic IGS equipment alone will expand at an annual rate of more than 25 percent over the next five years.
Orthopedic surgeons are eager to perform MI procedures, but have historically experienced mixed results. Far more orthopedic implants are placed incorrectly using MI, as opposed to conventional, surgery techniques. Surgeons are coming to the realization that only the use of IGS can ensure satisfactory outcomes. As a result, a number of companies, including new entrant Plus Orthopedics, are developing orthopedic MI applications. Demand for MI procedures will cause the orthopedic IGS market to triple in size, reaching sales of nearly 500 units by 2010.
MRG began covering the IGS market in 2001 and is now the preeminent source of information on all aspects of the market. The companys Global Markets for Image Guided Surgery 2005 series includes analysis of the US, European, and Asia Pacific markets as well as a global competitor insights report. The series covers over 15 competitors including Aesculap, BrainLAB, GE Medical (GE), Medtronic Navigation (MDT), ORTHOsoft (OSH-V), Plus Orthopedics, Praxim, and Stryker (SYK).
A leading source of competitive intelligence, MRG is now the largest provider of medical device market research in the world. Located in Toronto, Canada, MRG covers global markets and has pioneered reporting of numerous emerging products.
Contact Information:
Chris Bondarenko
Millennium Research Group Inc.
+1 (416) 364-7776 ext.160
www.mrg.net
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