London, 9 July 2015: Technavio, the independent tech-focused global research firm, has published a report on title 2015-2019, which is expected to grow at a CAGR of 8.09% during the forecast period of 2014-2019.
Rising geriatric population and advances in technology promote growth in this market. Advancements made in the field of minimally invasive surgery augment the prospects of growth in this market. This procedure involves making small incisions, which will reduce hospital stay and prevent excessive blood loss. Cardiac resynchronization therapy (CRT) involves implanting a battery-operated device under the skin through minimally invasive surgery. The device helps to synchronize the pumping chambers of the heart and also improves the heart’s overall efficiency.
“Robotic technology provides physicians an excellent view of the operative field and the ability to maneuver instruments within close-fitting spaces with precision and control. Robotic surgical procedures help to reduce patients’ hospital stays, facilitating better cost management,” says Faisal Ghaus, Vice President of Technavio.
“These procedures ensure surgical precision, improved outcomes, faster recovery periods, and reduced pain and discomfort. Increased awareness of potential benefits of robotic surgeries among patients and surgeons has compelled hospitals to install and implement related equipment.”
Key Market Drivers:
- Growth in Incidence of Cardiovascular Diseases.
- Increased Public Awareness.
- Advances in Surgical Procedures.
Key Market Trends:
- Focus on R&D.
- Increased Use of MRI in Clinical Applications.
- Growing Popularity of Robot-assisted Surgery.
Key Market Vendors:
- Boston Scientific Corp.
- Medtronic plc
- St. Jude Medical Inc.
To define the market circumstances in the next 3-4 years, Technavio analysts have conducted in-depth analysis of the impact of market drivers, challenges, and trends featuring data on product segmentations, vendor shares, growth rate by revenue, and an evaluation of the different buying criteria in the order of importance.
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