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.
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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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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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