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Medical Cameras Market

Global Medical Cameras Market Is Expected To Foresee Significant Growth During The Forecast Period. North America To Witness The Highest Growth

Global Medical Cameras Market is expected to reach the market valuation of USD 4 billion by 2027 expanding at a reasonable CAGR of 7.2% during the forecast period (2021-2027) from USD 2.5 billion in 2020. Medical cameras are used to create images of various internal human body parts for diagnostics and treatment purposes enabling surgeons and other medical staff to identify any malformations in a person’s internal organs.

The various factors driving the growth of the medical camera market include technological advancements coupled with rising venture capital investment. For instance, the total value of medical technology venture capital investments all over the world was nearly USD 6.3 billion in 2020, up from USD 5.7 billion in 2019. The rising incidences and mortality rate due to gastrointestinal diseases leading to the increase in endoscopic procedures is another significant factor responsible for the growth of the medical cameras market all over the world. For instance, according to the Western Washington Medical Group’s surgical outcomes data, the number of colonoscopies performed in 2019 was 5125, up from 4882 in 2018.

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Furthermore, the rising health concerns among the geriatric population coupled with the growing number of surgeries is another reason propelling the growth of the medical cameras market. For instance, according to the United Nations population division, the total population in 2020 was 7,794,799 thousand. Also, 9.3% of the population was aged 65+ in the same year and is projected to reach 22.6% by 2100. Given these facts, the demand for minimally invasive surgical procedures is propelling the growth of the medical camera market all over the world.

The COVID-19 pandemic has disrupted the entire world and many industries. This worldwide disruption has affected the medical industry like never before and has greatly impacted the way healthcare is delivered across the world. This pandemic has led to the suspension of many surgical procedures due to the imposed burden on healthcare systems and ICU capacity. Consequently, these procedures were postponed which has led to the irreversible deterioration of the patient’s health.

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However, some of the restraints in the market include stringent government regulations and the high cost of medical cameras. Besides, lack of skilled medical professionals and product discontinuation are some other factors impeding the growth of this market all over the world.

Based on the resolution, the market is divided into HD camera and SD camera. The HD camera segment dominated the medical camera market and grabbed XX% market share. This segment will witness a considerable CAGR of XX% during the forecast period (2021-2027F) owing to the several advantages offered by the high-definition camera over the standard-definition camera and innovative product launch. For instance, In 2019, Sony Corporation launches an ultra-sensitive, two-piece HD surgical video camera setting a new standard in low-light sensitivity.

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Based on end-users, the global medical camera market is segmented into hospitals, ambulatory surgery centers, specialty clinics and others. The hospitals segment occupied the largest share and is expected to grow at a CAGR of XX% during the forecast period 2021-2027. The segment generated revenue of US$ XX million in 2020. The growth of this segment is largely attributed to the rising expenditure on healthcare infrastructure and the increasing number of hospitals globally. For instance, An estimated 69,000 public and private hospitals were recorded across India in 2019. Amongst these, 43,000 were private sector hospitals, outnumbering the public sector.

Additionally, the report provides detailed report also provides insights of global medical cameras market according to the regions such as North America (United States, Canada, and the Rest of North America), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea and Rest of APAC), Rest of World has been conducted. North America dominated the market and generated revenue of USD XX billion in 2020 owing to the surge in the number of chronic disease incidences and the growing geriatric population in the region. For instance, according to the U.S. Census Bureau, the U.S. population will grow by 79 million people, from about 326 million in 2018 to 404 million by 2060, and will cross the 400-million threshold in 2058. At the same time, Asia-Pacific is also identified as a potential market offering significant growth opportunities for several startups and other major players in the field of medical cameras.

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Olympus Corporation, Sony Corporation, Danaher, Canon Inc., Carl Zeiss AG, Canfield Scientific Inc., Richard Wolf GmbH, Stryker Corporation, Smith & Nephew, Medicam are some of the key players operating in the global medical cameras market. Several M&As along with partnerships have been undertaken by these players to develop the medical cameras.

Global Medical Cameras Market Segmentation

Market Insight, by Camera Type

  • Endoscopy Cameras
  • Ophthalmology Cameras
  • Dermatology Cameras
  • Dental Cameras
  • Surgical Microscopy Cameras
  • Other Cameras

Market Insight, by Sensor

  • CMOS
  • CCD

Market Insight, by Resolution

  • HD Camera
  • SD Camera

Market Insight, by End-Users

  • Hospitals
  • Ambulatory Surgery Centers
  • Specialty Clinics
  • Others

Market Insight, by Region

  • North America
    • United States
    • Canada
    • Rest of North America
  • Europe
    • France
    • Germany
    • Italy
    • Spain
    • United Kingdom
    • Rest of Europe
  • Asia-Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • Rest of World

Top Company Profiles

  • Olympus Corporation
  • Sony Corporation
  • Danaher
  • Canon Inc.
  • Carl Zeiss AG
  • Canfield Scientific, Inc.
  • Richard Wolf GmbH
  • Stryker Corporation
  • Smith & Nephew
  • Medicam

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