Global Market for Surgical Navigation Systems Expected to Reach $631.9 Million in 2018
Wellesley, Mass., (PRWEB) August 28, 2014
BCC Research (http://www.bccresearch.com) reveals in its new report, SURGICAL NAVIGATION SYSTEMS: TECHNOLOGIES AND GLOBAL MARKETS, the global market for surgical navigation systems was valued at $419.7 million in 2013. Driven by the need for replacement of existing installations and the demand created by medical tourism in emerging geographies, the market is expected to grow to $631.9 million at a compound annual growth rate (CAGR) of 8.5% from 2013 through 2018.
While revenue generation will depend on neurosurgical and orthopedic navigation systems segments, volume sales are expected to be driven by ENT navigation systems in the developed markets. It is expected that ENT navigation systems will grow at a CAGR of 10.4% from 2013 to 2018. The economic slowdown has negatively impacted spine surgery volume in certain regions. This combined with reimbursement cuts are likely to hamper the growth of spine navigation systems in the immediate future.
“Opportunities in terms of geographical segments are abundant in emerging markets. New hospitals with highly specialized operating rooms are being established in countries such as India and China,” says BCC Research analyst Krishanu Bhattacharjee. “With a significant proportion of spine and ENT surgeries shifting to ambulatory surgery centers, additional opportunities for sales of navigation systems are expected to open up in countries such as the U.S.”
SURGICAL NAVIGATION SYSTEMS: TECHNOLOGIES AND GLOBAL MARKETS provides a current review of the surgical navigation systems market and offers an in-depth coverage of the competitive landscape. BCC Research determines the current market size, defines trends and presents forecasts of revenue growth over the next five years.
Editors and reporters who wish to speak with the analyst should contact Steven Cumming at steven.cumming(at)bccresearch(dot)com.
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