Medical Camera Market Analysis Focusing on Top Key Players – Sony, Olympus, Stryker, Carestream Health and Smith and Nephew

Medical camera market size is poised to witness significant growth from 2017 to 2024.

Growing need of capturing high resolution images providing enhanced view of the patient’s anatomy and pathology for aid in diagnostics and surgical procedures will drive market growth over the forecast period. Increasing geriatric population will serve to be a high impact rendering factor. The growing elderly population base has triggered an increase in age related disorders such as cancer, cardiovascular disease, arthritis, atherosclerosis, diabetes and hypertension which has in turn led to an increasing demand for minimally invasive procedures.

Minimally invasive surgeries use unique small tools enabling surgeons to perform the procedure through smaller incisions. Cameras are placed in one of the trocars for enhancing, enlarging and illuminating various organs and structures. The captured images are displayed on large video monitors providing a magnified view for better visualization and aiding in the surgical process. Technological advancements should further fuel medical camera market growth. The industry players are engaged in rigorous R&D for developing miniaturized cameras with higher sensitivity and flexibility. High cost of the device is restraining industry medical camera market growth to some extent.

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Endoscopy cameras are slated to witness rapid growth over the forecast years. Increasing demand for endoscopy is driving segment growth. Medical practitioners regard endoscopy as the primary method of diagnosis and treatment and usually schedule the procedure prior to an imaging scan. Advancements in endoscopy cameras should further fuel growth. Miniature cameras which are barely a millimeter wide and have high resolution along with being pre-sterilized and disposable are under development.

Complementary metal oxide semiconductor (CMOS) sensors are slated to witness robust growth over the forecast period. CMOS sensors provide extraordinarily high frame rates coupled with superior image quality and higher sensitivity. Furthermore, CMOS circuits are immune to medical RF equipment generated magnetic fields and do not require shielding. The sensors can be manufactured at low costs on existing CMOS lines. Low costs would boost adoption rates. Other benefits provided by the sensors include performance at different light intensities and lower energy consumption.

High definition cameras held significant revenue share due to their ability to capture higher resolution pictures as compared to standard definition ones. Nowadays, HD technology is being routinely used in surgery and medical education. High definition cameras provide surgeons with better visibility when there is blood in the surgical filed owing to less red color saturation. The technology also provides a wide-angle view leading to improved depth of field which enables surgeons to quickly see surgical instruments moving in and out of the surgical field. Ability of these cameras to provide enhanced view of internal body structures with greater precision and potentially produce better outcomes is driving segment growth.

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Hospitals as end users accounted for the largest industry share owing to improving healthcare infrastructure and growing number of hospitals. Increasing number of patients opting for minimally invasive procedures in hospital settings is further propelling segment growth.

U.S. medical camera market held significant industry share. Increasing geriatric population coupled with escalating demand for minimally invasive procedures will drive market growth. Rapid adoption of latest technology, presence of advanced healthcare infrastructure and increasing per capita expenditure on healthcare will further augment industry expansion. Brazil presents a lucrative future opportunity owing to the presence of large patient pool and ongoing development of healthcare infrastructure.

Prominent industry players in medical camera market include Sony, Olympus, Stryker, Carestream Health and Smith and Nephew. The industry players resort to strategic initiatives such as joint venture and new product launch for enhancing their market presence. For instance, in April 2013, Sony and Olympus established Sony Olympus Medical Solution Inc as a joint medical business venture. The venture aims to align Sony’s electronic technologies in digital imaging with Olympus’s R&D and manufacturing expertise in the field of medical products including optical technologies and lenses.

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This release was published on openPR.