(PharmaNewsWire.Com, May 21, 2021 ) The 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″, the medical camera market 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.
The Growth is largely driven by the increasing number of surgical procedures, growing demand for endoscopic procedures, technological advancements, and increasing investments in endoscopy and laparoscopy facilities. However, the high cost of medical cameras is a major restraint for market growth. Product discontinuations, a shortage of trained medical professionals, and the availability of refurbished products are also major challenges limiting market growth to a certain extent.
COVID-19 has disrupted healthcare services in most countries worldwide; the worst affected are the US, Russia, Spain, Italy, the UK, India, Germany, and Iran. Several countries worldwide have seen diagnostic procedures being postponed due to the pandemic. The delay in medical procedures and surgeries negatively impacted the market.
A study by the Gastrojournal, ‘Global Impact of the COVID-19 Pandemic on Endoscopy’, has shown a drastic decline in the number of endoscopic procedures performed during the pandemic. The study was conducted between April 23 to May 12, 2020, across 252 endoscopy units globally. These endoscopy units have performed 2,069,447 endoscopic procedures in a year. Compared with baseline, endoscopy units stated an average 83% reduction in total endoscopy volumes during the COVID-19 pandemic. There was an 82% reduction in upper endoscopy procedures (esophagogastroduodenoscopy, endoscopic ultrasonography, and endoscopic retrograde cholangiopancreatography) and an 85% reduction in lower endoscopy (flexible sigmoidoscopy and colonoscopy). The reduced number of endoscopy procedures due to the pandemic could hamper the growth of the medical cameras market.
Endoscopy Cameras accounted for the larger share of the share of global market
Based on type, segmented into surgical microscopy cameras, endoscopy cameras, dermatology cameras, ophthalmology cameras, dental cameras, and other medical cameras. The Endoscopy cameras segment accounted for the largest share of global medical camera market. This can be attributed to the increasing number of endoscopy procedures across the globe.
Geographical View in-detailed:
The medical cameras market is divided into five regions, namely, North America, Europe, Asia Pacific, and Rest of the World. North America dominated the global medical camera market. 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)
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