(PharmaNewsWire.Com, October 07, 2021 ) 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.
North America dominates the global medical cameras market
Geograpgically, segmented 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 cameras 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)
Olympus Corporation is one of the leading providers of medical cameras. The company has established itself as one of the leading players in the medical cameras market with a wide distribution network worldwide. The company offers camera heads widely used across various specialties, including general surgery, ENT, urology, and OR integration. The company has a geographical presence in more than 39 countries with the help of its subsidiaries and distributor network. Additionally, the company has more than 20,000 patents across its product portfolio.
The CMOS Sensor segment accounted for the largest market share in 2020.
Based on sensor, the medical cameras market is segmented into CMOS Sensor and CCD Sensor. CMOS Sensors accounted for the largest share of the global 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.
The High-definition cameras accounted for largest market share in 2020
Based on resolution, segmented into standard-definition (SD) cameras and high-definition (HD) cameras. High-definition cameras accounted for the largest share of the global market in 2020. The large share of this segment can primarily be attributed to the greater demand for HD cameras among end users due to the significant requirement of high-quality images in medical specialties.
Hospitals & ambulatory surgery centers are the largest end-users of the medical cameras market
Based on end users, segmented into hospitals & ambulatory surgery centers and specialty clinics. Hospitals & ambulatory surgery centers accounted for the largest share of the global medical camera market in 2020. This can be attributed to the increasing number of hospitals, especially in India, China, and Africa, and growing government & private investments to upgrade healthcare infrastructures.
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