A Fact.MR report on medical camera market offers detailed analysis on growth drivers and trends affecting demand in terms of camera type, sensor, resolution and region. It also highlights various strategies adopted by key market players to gain a competitive edge in the self-care medical devices market.
Fact.MR – A Market Research and Competitive Intelligence Provider: According to Fact.MR’s latest analysis, global medical camera sales will expand by 1.4X during the forecast period, reaching a market worth of roughly US$5 billion by 2031. Between 2021 and 2031, the market is expected to grow at a rate of above 8%.
The medical camera market is being driven by a growing number of operations, a growing consumer desire for minimally invasive procedures, developments in camera technology, and the rising prevalence of chronic conditions such as digestive disorders.
Medical camera sales are booming as the demand for high-definition cameras in surgeries and endoscopic treatments grows around the world.
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Medical cameras have become more sophisticated as a result of technological improvements. These high-resolution cameras are increasingly being used in medical applications such as diagnostics, therapy delivery, and surgery.
The introduction of camera capsules has significantly transformed the research and therapy of digestive problems. The puzzle of diagnosing and treating small intestine and stomach disorders without surgery has been solved thanks to the invention of capsule endoscopy. Capsule endoscopies are conducted in large numbers all around the world.
The rise in the ageing population has fueled demand for minimally invasive therapies. As a result, artificial intelligence (AI) medical cameras are becoming increasingly popular.
Medical cameras have a wide range of applications. Microscopy, pathology, endoscopy, lab automation, rheumatology, and other applications use these cameras. The availability of 4k 3D imaging technologies is extremely important for improving medical education and training.
The endoscopy camera category dominates the medical camera industry with over 40% market share. Medical camera sales are soaring as the number of endoscopic operations performed throughout the world rises. Endoscopies are minimally invasive procedures that are used to investigate, confirm, and treat medical conditions.
“Increasing investment in medical camera technology and rising preference for minimally invasive procedures will continue to drive medical cameras sales through the forecast period. With a gamut of technological advancements on card to offer greater precision and high definition images, market players can expect impressive growth on cards,” says the Fact. MR analyst.
Key Takeaways from Medical Camera Market Study
- Due to the rising frequency of numerous disorders that necessitate endoscopies for diagnosis and treatment, the United States dominates the medical camera market. In 2020, the US market was estimated to be worth about US$ 800 million.
- Due to the large number of geriatrics in China, the market is expected to reach a valuation of roughly US$ 360 million by the end of 2031.
- Between 2021 and 2031, the Japanese market is expected to grow at a CAGR of roughly 4%.
- As the number of endoscopic treatments grows, endoscopy cameras are likely to grab more than 40% of the market.
- The High-definition (HD) cameras sector leads the market in terms of resolution.
Key Drivers
- The growing number of surgical procedures is propelling the medical camera industry forward.
- The demand for advanced medical cameras is growing as the number of minimally invasive operations increases.
- During the forecast period, technological improvements in medical devices and cameras are expected to boost market growth.
- The increased incidence of chronic diseases, as well as the growing senior population, are driving up demand for medical cameras.
Key Restraints
- The high cost of medical cameras is stifling the market’s expansion.
- A scarcity of qualified medical professionals and the availability of remanufactured products pose a significant barrier to market expansion.
- COVID-19 had a negative effect on the market due to a decrease in operations and endoscopic treatments.
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Competitive Landscape
The major players in the medical camera market are spending a lot of money on research and development. To acquire a competitive advantage in the market, they have used a variety of organic and inorganic techniques such as mergers and acquisitions, enhanced product development, and collaborations.
- In July 2020, Smith+Nephew, a global medical technology company, unveiled their next-generation robotics system, the CORI Surgical System, with the goal of improving and speeding up robotic surgical procedures. CORI features innovative camera technology that is four times faster and provides more efficient cutting.
- In July 2021, Virtual Dental Care, the creators of Teledentix mobile and teledentristry software, and Holland Healthcare, the creators of the TelScope, teamed up to offer a teledentristry solution. Patients and providers will be able to use any smart device as an intraoral camera to capture high-quality photos and video into the secure Teledentix patient record, thanks to the combination of TelScope and Teledentix.
- OptaSensor released the “OsirisM,” one of the smallest commercially available digital cameras with great resolution, in November 2020. The OsirisM camera can be included into medical disposable endoscopes such as ureteroscopes and arthroscopes because to its small size (1×1 mm).
Some of the leading players operating in the medical camera market profiled by Fact.MR are:
- Olympus Corporation
- Sony Corporation
- Basler AG
- IMPERX, Inc.
- Optomed Plc
- IDS Imaging Development Systems GmbH
- Danaher
- Carestream Health, Inc.
- Stryker Corporation
- Richard Wolf GmbH
- Smith & Nephew PLC
- Leica Microsystems
- Carl Zeiss AG
- Hamamatsu Photonics K.K.
- Topcon Corporation
- Canon Inc.
More Insights on the Global Medical Camera Sales Outlook
Fact.MR provides an unbiased analysis of medical camera market, presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the global demand for medical camera with a detailed segmentation on the basis of:
Type
- Dental Cameras
- Dermatology Cameras
- Endoscopy Cameras
- Ophthalmology Cameras
- Surgical Microscopy Cameras
Sensor
- Charge Couple Devices (CCD)
- Complementary Metal-oxide Semiconductors (CMOS)
Resolution
- High Definition Medical Cameras
- Standard Definition Medical Cameras
End User
- Medical Cameras for Hospitals
- Medical Cameras for Diagnostic Centers
- Medical Cameras for Academic and Research Institutes
- Medical Cameras for Ambulatory Surgery Centers
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Key Questions Covered in the Medical Camera Sales Outlook Report
- The report offers insight into medical camera demand outlook for 2021-2031
- The market study also highlights projected sales growth for medical camera market between 2021 and 2031
- Medical camera market survey identifies key growth drivers, restraints, and other forces impacting prevailing trends and evaluation of current market size and forecast and technological advancements within the industry
- Medical camera market share analysis of the key companies within the industry and coverage of strategies such as mergers & acquisitions, joint ventures, collaborations or partnerships, and others.
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