(PharmaNewsWire.Com, August 25, 2021 ) The Key Growth Elements in Detailed?
The Medical Cameras 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.
Worldwide Growth Opportunities in Terms of Revenue:
The Medical Cameras 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.
Endoscopy Cameras accounted for the larger share of the share of global market.
Based on type, the medical cameras market is 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 market. This can be attributed to the increasing number of endoscopy procedures across the globe.
GROWTH DRIVER: The increasing number of surgical procedures;
An increasing number of surgical procedures require medical cameras, which has considerably grown in recent years. The growing number of surgeries can be attributed to the rapidly growing geriatric population worldwide and the increasing prevalence of chronic diseases, leading to the increasing demand for medical equipment. Many countries across the world are facing the challenge of increasing senior populations. According to the United Nations (UN), in 2019, there were 703 million persons aged 65 years or over in the world. The senior population is estimated to double to 1.5 billion in 2050. Non-invasive surgeries (mainly using endoscopy and microscopy surgery cameras) are preferred for older people due to lesser complications than conventional surgeries.
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.
Major Key Players Mentioned in the research report are:
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 has established itself as one of the leading players in the medical cameras market with a wide distribution network worldwide. 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. Additionally, the company has more than 20,000 patents across its product portfolio.
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