Millennium Research Group has conducted a detailed analysis of the image guided surgery (IGS) systems market in its report, US Markets for Image Guided Surgery Systems 2007. The US market currently exceeds $150 million, and will approach $300 million by 2011. Growth in the orthopedic segment, however, would be stronger if insurance companies provided reimbursement and more physicians adopted the technology. MRG estimates that up to 70% of the one million Americans receiving hip and knee implants annually could benefit from a less invasive procedure, which would mean a shorter and less painful recovery.
IGS systems function like a "GPS for surgery," allowing physicians to track instruments and implants in a 3-dimensional computer-generated model. Use of IGS, however, lowers the number of procedures per day with its additional preparation time, compared to traditional techniques.
"Increased preparation time and the lack of reimbursement lowers the profitability of each procedure," says Chris Schutz, analyst at MRG. "Surgeons are reluctant to adopt the technology under these circumstances. As a result, patients are missing out on an important tool that promises improved outcomes and reduced recovery times."
US Markets for Image Guided Surgery Systems 2007 is the latest report in MRG's coverage of the global surgical navigation systems market. In addition to orthopedic navigation technologies, this report covers navigation systems and surgical applications for neurology, ENT, and spine. The US report is part of a global series that also includes Europe and Japan. Companies covered in this report series include Aesculap, BrainLAB, Compass, GE Healthcare, Kinamed, Medtronic Navigation, Orthosoft, Plus Orthopedics, Praxim, Radionics, Schaerer Mayfield, and Stryker Navigation.
About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources, Inc. company (www.DecisionResources.com), is the global authority on medical technology market intelligence and a leading provider of strategic information to the health care sector. Focused solely on the medical device, pharmaceutical, and biotechnology industries, the company provides its clients with the benefits of its specialized industry expertise through published reports and customized consulting services.
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SOURCE: Millennium Research Group
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