The US and European Video and High-Tech Hardware Device Markets Will Reach a Combined Value of Over $4.6 Billion by 2022

TORONTO, Jan. 8, 2014 /PRNewswire/ -- According to Millennium Research Group (MRG), the global authority on medical technology market intelligence, the United States and European markets for video and high-tech hardware devices will be driven by product innovation as well as demand for safer and more efficient operating rooms (ORs).

As a result, integrated ORs are becoming more popular in both markets because they can substantially improve efficiency and patient care. This is especially true for wireless ORs, which can eliminate, or significantly reduce, cables in the OR. The OR integration system market will therefore grow at a strong eight percent per year in both the US and Europe through 2022.

Articulated surgical robots, a market occupied exclusively by Intuitive Surgical's da Vinci robot, represent another area of high interest. Although demand was hampered by negative press surrounding the safety and efficacy of the robot in the US, causing a decline in unit sales, the market will begin to grow again in a few years. The market will grow faster in the less-penetrated European market. In total, the US and European articulated surgical robotic system markets will be worth over $1.4 billion by 2022.

"A number of newer technologies also promise to improve visualization of surgical procedures," said MRG Analyst Stephanie Wood. "New innovations for 3DHD camera systems, which are supposed to improve depth perception during procedures, could include headpieces and visualization without glasses in the future. 4K Ultra HD surgical monitors, the next frontier in surgical visualization, are already available in consumer markets and will likely reach the medical markets in the US and Europe around 2014 or 2015. However, some doubts about the benefits of these technologies remain, and these very high-priced products will continue to be a niche market for the foreseeable future."

Millennium Research Group's US Markets for Video and High-Tech Hardware Devices 2013 and European Markets for Video and High-Tech Hardware Devices reports include unit, average selling price and revenue information, along with market drivers and limiters and a competitive landscape for articulated surgical robotic devices, OR integration systems, surgical monitors, camera systems, light sources, video capture and recording devices, surgical lights and surgical tables in the United States, France, Germany, Italy, Spain and the United Kingdom. Supplemental country coverage is also available for Austria, Belgium, the Czech Republic, Denmark, Finland, Greece, Hungary, the Netherlands, Norway, Poland, Portugal, Romania, Sweden, Switzerland and Ukraine, as well as in aggregate for the rest of the European countries.

About Millennium Research Group
Millennium Research Group (www.MRG.net), a Decision Resources Group company (www.DecisionResourcesGroup.com), is the global authority on medical technology market intelligence and the leading provider of strategic information to the healthcare sector. The company provides specialized industry expertise through multiclient market research, ongoing Marketrack™ projects, customer loyalty tracking, facility-level procedure forecasting, and customized solutions.

About Decision Resources Group
Decision Resources Group is a cohesive portfolio of companies that offers best-in-class, high-value information, and insights on important sectors of the healthcare industry. Clients rely on this analysis and data to make informed decisions. Please visit Decision Resources Group at www.DecisionResourcesGroup.com.

All company, brand or product names contained in this document may be trademarks or registered trademarks of their respective holders.

For more information, contact:

SOURCE Decision Resources Group

WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?

440k+
Newsrooms &
Influencers

9k+
Digital Media
Outlets

270k+
Journalists
Opted In

GET STARTED