Medical cameras enable the surgeons and several other medical practitioners to seizure high-quality images throughout the microscopy and several other surgical processes such as ophthalmology, endoscopy, arthroscopy, robotic surgery, amongst others. They support in the diagnosis and treatment of disease by tightfitting the accurate condition of an internal organ.
According to the report analysis, ‘Medical Cameras Market: Current Analysis and Forecast (2021-2027)’ states that the effective growth in worldwide requirement for medical cameras is owing to the growing technological advancements in surgical processes and expansion in venture capital investments. In addition to this, the largest augment in the MedTech venture capital investment was seen during the years 2016 and 2017. The increasing prevalence of chronic diseases coupled with the growing geriatric populace is another factor underwriting to the growth of the global Medical Cameras systems market.
While, However, some of the restraints in the market comprise the stringent government regulations and the great cost of medical cameras. Besides, shortage of skilled medical professionals and product discontinuation are some other aspects hampering the growth of this market all over the globe.
Based on camera type, the market is categorized into endoscopy cameras, ophthalmology cameras, dermatology cameras, dental cameras, surgical microscopy cameras, and several other cameras. The endoscopy cameras segment created significant revenue in millions in 2020. The segment is projected to grow at a positive CAGR during the review period to achieve higher market valuation by 2027 due to the increasing demand for endoscopic procedures and the growing investments in endoscopy amenities.
Market growth is greatly driven by the growing number of surgical procedures, increasing demand for endoscopic procedures, technological improvements, and growing investments in endoscopy and laparoscopy facilities. However, the great cost of medical cameras is a foremost restraint for market growth. Product discontinuations, a lack of trained medical professionals, and the prevalent of refurbished products are also foremost challenges restricting market growth to a certain extent.
Region wise, the Asia Pacific region presents proficient growth choices for the medical cameras market. Due to its massive patient populace, the speedy expansion of the healthcare industry, and the shifting aim of manufacturers towards underdeveloped countries in this region. China and India, the two most populous regions globally, have a huge patient populace mainly owing to the rapidly growing senior population and the subsequent augment in the pervasiveness of ophthalmological & dermatological diseases. Treatment for these diseases requires the usage of endoscopes, retinal cameras, and intraoral cameras.
Based on End-Users, the market is sectored into hospitals, ambulatory surgery centers, specialty clinics, and several others. Amongst end-users, the hospitals segment obtained the foremost market share in 2020 and is projected to continue its dominance throughout the projected timeframe owing to the increasing number of hospitals and augment in the number of surgical processes. In addition, the effective growth in the geriatric populace and an augment in the occurrence of vulnerable syndromes, a proficient augment in age-connected issues also underwrite to the market’s growth. Furthermore, there is growing number of surgeries around the world, influencing the market’s entire growth.
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Ankur Gupta, Head Marketing & Communications