The European image-guided surgery market was estimated to reach $93.6 million in revenues in 2004, and is projected to grow at a compound annual growth rate (CAGR) of 13.9%, according to a report recently issued by market research firm Frost & Sullivan.
The $18 million European robot-assisted surgery is expected to grow at a CAGR of 3.6% from 2004 to 2008, according to the San Jose, CA-based firm. Frost & Sullivan said the popularity of minimally invasive surgery is creating new opportunities for surgical technologies such as IGS and RAS.
The orthopedic segment in image-guided surgery is the fastest growing and most promising segment, Frost said. The company said that one of the key deterrents to market growth is likely to be high installation and capital equipment costs, with many hospitals expecting free upgrades.
Hospitals are also looking for open platforms that enable them to integrate products from different companies into the systems, according to Frost.
By AuntMinnie.com staff writers
April 18, 2005
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