A report from BCC research estimates growth in the surgical navigation systems market through 2018.
Here are 10 things to know from the report:
1. The surgical navigation systems market was valued at $419.7 million in 2013 and expected to grow to $631.9 million by 2018.
2. Expected compound annual growth rate is 8.5 percent over the next four years.
3. The growth is driven by the need to replace existing installations and demand from medical tourism in emerging geographies.
4. Revenue generation opportunities will depend on neurosurgical and orthopedic system segments.
5. ENT navigation systems are expected to drive value sales in developed markets.
6. The ENT navigation systems market is expected to grow at a CAGR at 10.7 percent from 2013 through 2018.
7. There are challenges for this market space; the economic slowdown negatively impacted spine surgery volume in some regions, which makes purchasing new technology difficult.
8. Reimbursement cuts now and in the future will likely hamper spine navigation system sales growth.
9. New hospitals in established countries like China and India are building highly specialized operating rooms, there is potential for additional sales there.
10. Spine and ENT procedures are moving to outpatient ambulatory surgery centers, which presents another significant opportunity in the United States and beyond.