According to a report to be published by MedMarket Diligence, the high growth rates within this embryonic market will drive the market up to a billion dollars annually by 2005 as computer guided surgery and robotics are adopted by the busiest medical centres that offer best practice treatments, and as these systems are used to expand throughput of specific procedures.
Although annual growth rates will decline slightly as the market expands to this level, MedMarket Diligence forecasts they will increase toward the end of the decade reaching 20 percent CAGR again, as research from many academic medical centres around the world creates new procedural techniques and new devices specifically developed to reduce surgical time and achieve improved outcomes.
"We see computerisation within the surgical arena as one of the obvious successes of digital progress over the last two decades", stated Patrick Driscoll, President of MedMarket Diligence. "Large successful medical imaging corporations like GE Medical, Philips Medical, Siemens, Hitachi, Shimadzu, and others are creating premium value from the benefits that their technology can bring to surgical imaging, and a large number of smaller technology companies with products for medical imaging, image management, computer aided surgery, robotics, and operating room management are also creating valuable product offerings."
According to Mr. Driscoll, there are over one hundred companies actively pursuing this opportunity with new products, and many medical centres around the world have active programmes, which will make growth within this industry sustainable. The computer aided imaging segment of the market will grow at a compound annual growth rate of approximately 11,4 percent from 2001 to 2010. Growth will rise to 16 percent annually over the next few years as research organisations create new technology advances and as digital recording takes the place of analogue and paper records.
Although growth will subside somewhat toward 2010, computer aided imaging will comprise almost 22 percent of the overall worldwide imaging market in 2010, and almost 25 percent by 2015. Market trends for the overall imaging market in 2001 remain strong, with market growth estimated at 6-8 percent annually and driven by new product introductions, favourable demographic trends, and increased imaging procedures prescribed by physicians.
Existing computerised pre-surgical planning products will increase sales at growth rates of approximately 16 percent annually to produce a $500 million market by 2010 as the technology becomes quicker, incorporates more magnetic resonance imaging and ultrasound imaging technology, becomes more informative, and is driven by integration with computer guided and robotic surgery systems.
The MedMarket Diligence report on computer aided surgery published in September 2002, includes worldwide growth rates, pricing and indication information for all aspects of computer aided surgery. It identifies key commercial players, their products portfolios and strategies; and it identifies the future candidates for market presence, and the future challenges for companies targeting these important market segments. For more details, you can visit the MedMarket Diligence Web site.