Increasing Number of Surgical Procedures and Technological Advancements Offer Growth Opportunities in the Global market
The Global Medical Camera Market is expected to reach USD 3.69 billion by 2021 from USD 2.43 billion in 2016, at a CAGR of 8.7% during the forecast period.
The global market is witnessing growth due to factors such as an increase in the number of surgical procedures that require medical cameras and the rapid pace of technological advancements in medical cameras. On the other hand, high manufacturing costs of medical cameras is a major restraint in this market.
The Medical Camera Market is segmented based on camera type, sensor, resolution, end user, and region. Based on camera type, the market is segmented into endoscopy cameras, surgery cameras, dermatology cameras, ophthalmology cameras, and dental cameras.
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In this report, the sensors market includes charge coupled device (CCD) and complementary metal-oxide-semiconductor (CMOS) sensors. In 2016, the CMOS segment accounted for the largest share of this market. This segment is also expected to grow at the highest CAGR during the forecast period. CMOS image sensors offer various advantages, such as low power consumption, ease of integration, rapid frame rate, and low manufacturing cost, which are driving growth in this segment.
Medical Camera Market Segmentation:
Based on resolution, the market includes standard-definition (SD) and high-definition (HD) cameras. The HD cameras segment accounted for the largest share of this market due to a rising demand for high-definition visuals in surgical procedures. This segment is also expected to grow at the highest CAGR during the forecast period.
By end user, the market is segmented into hospitals, diagnostic centers, and specialty clinics & ambulatory surgery centers. Hospitals dominated the global Medical Camera Market. The specialty clinics & ambulatory surgery centers segment, however, is expected to grow at the highest CAGR during the forecast period. Long waiting times in hospitals and a growing preference for clinics and ambulatory surgery centers are driving this market.
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Geographically, the market is segmented into North America, Europe, Asia, and the Rest of the World. In 2016, North America held the largest share in the market and will continue to do so in the forecast period. Asia is expected to witness the highest CAGR, with its growth centered on China, Japan, and India.
Major Players in the Medical Camera Market:
Olympus Corporation (Japan), Stryker Corporation (U.S.), Hamamatsu Photonics K.K. (Japan), Sony Corporation (Japan), and Carestream Health (a subsidiary of Onex Corporation, Canada).
According to the new market research report “Medical Cameras Market by Camera Type (Endoscopy Cameras, Ophthalmology Cameras, Dermatology Cameras), Resolution (HD Cameras, SD Cameras), Sensor (CMOS, CCD), End-Users (Hospitals & Ambulatory Surgery Centers, Specialty Clinics) – Global Forecast to 2026″, published by MarketsandMarkets™, is projected to reach USD 4.1 billion by 2026 from USD 2.9 billion in 2021, at a CAGR of 7.3% during the forecast period.Growth Driver: The increasing number of surgical proceduresAn increasing number of surgical procedures require medical cameras, which has considerably grown in recent years.
According to the United Nations (UN), in 2019, there were 703 million persons aged 65 years or over in the world.
Non-invasive surgeries (mainly using endoscopy and microscopy surgery cameras) are preferred for older people due to lesser complications than conventional surgeries.Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=201071746North America dominates the global medical cameras marketGeograpgically, segmented into five regions, namely, North America, Europe, Asia Pacific, and Rest of the World.
The large share of the North American region is mainly attributed to the technological advancements in medical cameras, implementation of favorable government initiatives, and rise in the number of surgical procedures.The major players in the medical cameras market are Olympus Corporation (Japan), Richard WOLF GmbH (Germany), TOPCON CORPORATION (Japan), Sony Corporation (Japan), Stryker Corporation (US), Danaher Corporation (US), Canon Inc. (Japan), Carl Zeiss AG (Germany), Smith & Nephew (UK), Carestream Dental LLC (US), and Basler AG (Germany)Olympus Corporation is one of the leading providers of medical cameras.
The company offers camera heads widely used across various specialties, including general surgery, ENT, urology, and OR integration.
The company has a geographical presence in more than 39 countries with the help of its subsidiaries and distributor network.
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