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 company’s 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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Source : http://www.prweb.com/releases/2005/7/prweb264770.htm