The neurosurgery navigation system is expected to grow over the next few years, according to an iData report.
Here are 10 things to know about the market:
1. The largest segment in the Untied States surgical navigation market is represented by neurosurgery navigation systems.
2. The total market value is more than $76 million.
3. The unit sales growth moderately increased last year and the slow growth is expected to continue going forward as facilities replace older systems and new technology becomes available.
4. Market saturation will cause revenue generated from fee per-use loans from the service and maintenance of existing neurosurgery systems push the overall market value higher than revenue from system sales.
5. The earnings percentage derived from capital purchases is higher for neurological systems because there are relatively few image-guided surgery systems with neurosurgical applications loaned.
6. Software improvements and an increase in the total number of systems will mean the total revenue will come more from service and fee per-use systems than system sales.
7. The leading competitors in the market are Brainlab and Medtronic, representing more than 75 percent of market revenues.
8. After being one of the first companies to develop software specifically for trauma procedures, Brainlab has shifted focus to selling more dedicated systems.
9. As a leading competitor in the spine implant market, Medtronic can leverage navigation system sales through a strong brand name in the overall spinal market.
10. The neurosurgery navigation system market is a "replacement and upgrade market" according to iData CEO Dr. Kamran Zamanian.
"Leading companies are continuously developing brand new systems to try and entice facilities that do not want to share multi-application image guide surgery platforms between hospital departments," he said.