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Medical Camera Market Size
Medical Camera Market size was valued at over USD 2.7 billion in 2022 and is anticipated to grow at over 7% CAGR through 2023 – 2032 driven by the growing number of surgical procedures across the globe.
Medical cameras help healthcare professionals capture colourful, high-definition images during open and microscopy surgical procedures. These camera’s play an integral role in small-incision surgeries, which are growing in popularity due to their low risk of infection, less scarring and blood loss. They give surgeons a better visibility of internal organs and provide additional information on the spatial depth and depiction of the patient’s anatomical structures, which allows for better treatment outcomes. Moreover, surgical cameras can also record operations to help with the assessment of any post-operative complications.
| Report Attributes | Details |
|---|---|
| Base Year: | 2022 |
| Market Size in 2022: | USD 2.5 Billion |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 7% |
| 2032 Value Projection: | USD 5.9 Billion |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 370 |
| Tables, Charts & Figures: | 554 |
| Segments covered: | Camera Type, Resolution, Sensor, End-use and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Steep price of medical cameras may hinder industry scenario
The heavy initial investment and prohibitive costs associated with medical cameras may make them less accessible to many healthcare units across the globe. In places such as India, which is known for medical tourism, the average cost of an ophthalmology medical camera lies falls in the USD 2,363 – USD 10,000 range. The cost further differs from camera to camera based on product features and specifications. Specialized components and their complicated assembly also adds to the overall price of product.
Medical Camera Market Analysis
With respect to camera, the medical camera market valuation from endoscopy cameras segment is expected to grow past USD 2.8 billion by 2032. Endoscopy cameras provide high-resolution images and videos, allowing doctors to view the patient’s gastric track in a non-invasive manner to effectively diagnose digestive conditions. Rising occurrence of digestive tract issues such as ulcers, and gastritis among others has bolstered the demand for endoscopy cameras. As per reports, peptic ulcers affect nearly four million people every year, with a lifetime prevalence of 5-10% in the general population.
Based on resolution, the medical camera market size from the HD cameras segment held a valuation of more than USD 2 billion in 2022. An HD camera can provide high-resolution images for state-of-the-art endoscopy procedures. It delivers a detailed view of the affected areas through crisper images. Moreover, they also provide a lifelike visual appearance with maximum depth and spatial orientation to enhance the accuracy of surgical procedures. HD cameras help obtain a panoramic and natural view of internal organs in laparoscopic surgeries, making them integral for the discipline.
From the regional perspective, North America medical camera market was valued at over USD 860 million in 2022. Moving ahead, the regional segment revenues are likely to be driven by favorable government initiatives for the healthcare sector. For instance, back in October 2022, the U.S. government announced an investment of over USD 110 million for consolidating the nation’s rural healthcare infrastructure.
Regional expansion is also driven by the strong presence of industry leaders such as CANON MEDICAL SYSTEMS USA, INC., Stryker Corporation, and others in the region. Many players are focusing on product innovations to carve themselves a bigger share of the region’s revenue pool. In fact, back in September 2022, Stryker Corporation, a US-based medication company, launched Q Guidance System, which makes use of a redesigned medical camera equipped with sophisticated algorithms to deliver accurate surgical planning for spine applications.
Medical Camera Market Share
The list of prominent medical camera market players includes names such as:
- Allied Vision Technologies GmbH
- ZEISS International
- Richard Wolf GmbH
- Sony Corporation
- ZEISS International
- Topcon corporation (Mehra Eyetech Pvt. Ltd),
Several players have kept product innovations at the center of their expansion plans. Citing an instance, in October 2022, Topcon Healthcare, a US-based medical device company, announced the launch of NW500 which is a fully automated non-mydriatic retinal camera with sharp-quality imaging capabilities. This latest addition helped the company broaden its product portfolio.
Impact of COVID-19 pandemic
The COVID-19 pandemic impacted the medical camera industry negatively on account of a halt in supply chain due to tightening lockdown restrictions. This resulted in delayed and cancelled endoscopic procedures, which brought the medical cameras market to a standstill. In fact, gastrointestinal endoscopy possessed a high-risk for COVID-19 infection transmission, which led to procedure postponements until vaccination drives showed successful results. Now, with the resumption of non-essential surgical procedures, the market is likely to chart a notable path towards its recovery.
The medical camera market research report includes an in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2018 to 2032, for the following segments:
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By Camera
- Endoscopy cameras
- Surgery microscopy cameras
- Dermatology cameras
- Ophthalmology cameras
- Dental cameras
- Others
By Resolution
- HD cameras
- SD cameras
By Sensor
- Complementary Metal-oxide-semiconductor (CMOS)
- Charge Coupled Device (CCD)
By End-use
- Hospitals & clinics
- Ambulatory Surgery Centers
- Others
The above information is provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Poland
- Switzerland
- Netherlands
- Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Thailand
- Indonesia
- Vietnam
- Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Peru
- Middle East & Africa
- South Africa
- Saudi Arabia
- UAE
- Israel
Frequently Asked Questions (FAQ) :