That represents a compound annual growth rate of 7.8%. The forecast comes from a new technical market research report, “The market for minimally invasive medical devices” from BCC Research.
The U.S. accounted for about 60% ($8.3 billion) of this market in 2007, and is expected to reach $13.6 billion in 2014, according to the report. Other key findings in the report include the following:
• Surgical devices (stents, catheters, guidewires) represent the largest minimially invasive surgery product segment in the U.S., with 69% market share in 2007. Monitoring and visualization systems were second at 11% market share, followed by endosurgical instruments (9%), electrosurgical equipment (8%), and robotics (3%). Surgical robots, however, represent the fastest-growing equipment/device segment, with an expected 12% CAGR between now and 2014.
• Cardiothoracic surgery was the largest application segment for these devices and equipment.
• U.S. hospitals with in-house surgery departments represented the largest user segment, with 45% of the total market in 2007. Outpatient surgery clinics accounted for 35% of the U.S. market, individual physicians and surgeons 15%, while medical schools and other medical education programs accounting for the remaining 5% of the market.
An electronic PDF of the report is available for $4,850 by contacting BCC Research, 40 Washington St., Suite 110, Wellesley, MA. Phone: 866-285-7215, or [email protected].
The U.S. accounted for about 60% ($8.3 billion) of this market in 2007, and is expected to reach $13.6 billion in 2014, according to the report. Other key findings in the report include the following:
• Surgical devices (stents, catheters, guidewires) represent the largest minimially invasive surgery product segment in the U.S., with 69% market share in 2007. Monitoring and visualization systems were second at 11% market share, followed by endosurgical instruments (9%), electrosurgical equipment (8%), and robotics (3%). Surgical robots, however, represent the fastest-growing equipment/device segment, with an expected 12% CAGR between now and 2014.
• Cardiothoracic surgery was the largest application segment for these devices and equipment.
• U.S. hospitals with in-house surgery departments represented the largest user segment, with 45% of the total market in 2007. Outpatient surgery clinics accounted for 35% of the U.S. market, individual physicians and surgeons 15%, while medical schools and other medical education programs accounting for the remaining 5% of the market.
An electronic PDF of the report is available for $4,850 by contacting BCC Research, 40 Washington St., Suite 110, Wellesley, MA. Phone: 866-285-7215, or [email protected].
