The U.S. surgical navigation and robotics systems market is anticipated to hit $5 billion by 2023, according to an iData Research report.
Here are six highlights:
1. Higher selling prices of surgical robotic systems will spur market growth.
2. Facilities are upgrading their software and hardware to succeed in a technological world, which will also boost market growth.
3. New companies offering more affordable navigation systems will extend the market to smaller facilities.
4. Navigation systems with spinal applications account for the largest market share, at 40 percent.
5. Medtronic leads the U.S. surgical navigation system space, with Stryker and Brainlab also having a strong presence in the market.
6. Intuitive Surgical leads the U.S. surgical robotics market, with Medtech, Mazor Robotics and Stryker gaining market traction.