Medical Cameras Market worth $4.1 billion by 2026 – The Growing Demand for Endoscopic Procedures

Medical Cameras Market

PUNE, India, 2021-Jul-21 — /EPR Network/ — The Medical Camera 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.

According to the new market research 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” published by MarketsandMarkets™, 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.

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.

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Geographically; 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 camera 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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Market Segmentation in Detailed:

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.

The CMOS Sensor segment accounted for the largest market share in 2020.

Based on sensor, segmented into CMOS Sensor and CCD Sensor. CMOS Sensors accounted for the largest share of the global medical cameras market in 2020.  This can be attributed various advantages of CMOS sensors over CCD sensors, such as low power consumption, ease of integration, and faster frame rate. Moreover, the cost of manufacturing these sensors is lower than that of CCD sensors.