(PharmaNewsWire.Com, June 04, 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", 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 Market 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.
GROWTH OPPORTUNITY - Emerging countries in the Asia Pacific market;
The Asia Pacific region presents significant growth opportunities for the medical cameras market. Owing to its massive patient population, the rapid expansion of the healthcare industry, and the shifting focus of manufacturers towards developing countries in this region.
China and India, the two most populous countries globally, have a huge patient population mainly due to the rapidly growing senior population and the subsequent increase in the prevalence of ophthalmological & dermatological diseases. Treatment for these diseases demands the use of endoscopes, retinal cameras, and intraoral cameras.
Endoscopy Cameras accounted for the larger share of the share of global medical cameras market in 2020.
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.
Hospitals & ambulatory surgery centers are the largest end-users of the market
Based on end users, segmented into hospitals & ambulatory surgery centers and specialty clinics. Hospitals & ambulatory surgery centers accounted for the largest share of the global medical cameras market in 2020. This can be attributed to the increasing number of hospitals, especially in India, China, and Africa, and growing government & private investments to upgrade healthcare infrastructures.
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 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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