Medical Camera Market Report with Size, Share, Value, CAGR, Outlook, Analysis, Latest Updates, Data, and News 2027

The demand for medical camera is witnessing an uptick on account of rising GDP per capita, household disposable income leading to the raised standard of living and sedentary lifestyle. As a result, there is increase in incidences of lifestyle and age-related diseases among the rapidly growing geriatric population all over the world. Thereby, augmenting the of medical cameras market all over the world. For instance, according to Population Reference Bureau’s Population Bulletin, the number of Americans ages 65 and older is projected to nearly double from 52 million in 2018 to 95 million by 2060.

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Furthermore, the growing number of surgical procedures is a leading factor is contributing to the growth of the market size of medical cameras. For instance, as per health grades, the most commonsurgeries in the United States are cataract removal, joint replacement, broken bone repair, angioplasty and artherectomoy, stent procedure, among others. 4,54,000 of stent procedures and and nearly 7,20,000 knee replacement surgeries are performed by doctors in the U.S. each year.

The COVID-19 pandemic has adversely impacted the market of medical cameras due to disruptions in the supply chain and a temporary halt in the manufacturing sector due to lockdown. Due to the disruption caused by coronavirus outbreak, the funds for research & development are not being released which in turn is hampering the growth of medical camera market all over the world. Apart from this, the worldwide pandemic has also compelled medical practitioners and patients to postpone their surgeries.

According to UnivDatos Market Insights (UMI)’ research report “Global Medical Cameras Market Analysis, 2020”, the Global medical cameras market is projected to grow at a CAGR of 7.2% during 2021-27F. A rise in seed funding and series funding is one of the prominent reason which is driving the market of the medical cameras. For Instance: In 2018, Micro C, a medical device startup which produces a handheld X-ray and digital camera imaging device for orthopedic surgeons, has raised an additional $1 million in funding, bringing their total seed amount to US$2.2 million.

Based on the Camera Type, the endoscopy camera segment acquired the major market share and grabbed US$ -- Mn revenue from the medical cameras market in 2020. Promulgating preference for less-invasive surgical procedures and increasing number of endoscopic procedures among patients is boosting the growth of the medical camera market. According to the Becker’s GI & endoscopy review, GI endoscopic procedures are estimated to grow at a 2.6% compound annual growth rate.

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CMOS Sensors to Witness Robust growth
Based on the sensors, the market is divide into CMOS and CCD sensors. The CMOS sendors grabbed --% revenue share in 2020. The market size of this segment touched US$ -- Million in 2020. The market share of the segment is expected to maintain its dominance in the forthcoming years as well as they are less expensive and provides high definition images.

North America to Grab Lion’s Share, Asia-Pacific to register fastest growth Based on the Region, North America dominated the Global medical cameras market in 2020. The region is projected to maintain its dominance during the forecasted period 2021-27 owing to the number of well-established players in the region and heavy expenditure on R&D in medical technology sector. For instance, In 2017, Danaher spent US$ 939 million on medtech research and development, and this spending is projected to increase to US$ 1,293 million by 2024. However, Asia-Pacific is expected to skyrocket with a CAGR of --% in the forecast period owing, as stated in UnivDatos Market Insights (UMI)’ research report “Global Medical Cameras Market Analysis, 2020”.

According to UnivDatos Market Insights (UMI)’, the key players with a considerable market share in the global medical cameras market are include Olympus Corporation, Sony Corporation, Danaher, Canon Inc., Carl Zeiss AG, Canfield Scientific Inc., Richard Wolf GmbH, Stryker Corporation, Smith & Nephew, Medicam, among others. The players are focused on launching new products for gaining customers' traction and expanding their geographical reach to get a competitive edge in the industry.

Some of the instances are:
 In 2021, Olympus Corporation launched the SIF-H190 single balloon enteroscope incorporating functions to advance deep into the small intestine with a smoother passage.
 In 2020, Optomed Plc launched Aurora IQ camera with integrated AI for faster eye screening.
 In 2020, OmniVision Launches World’s first complete medical imaging subsystems for singleuse endoscopes and catheters with the addition of OVMed Cables

“Global Medical Cameras Market Analysis, 2020” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for medical camera providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitor's capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

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Market Segmentation:

1. By Camera Type (Endoscopy cameras, Ophthalmology cameras, Dermatology cameras, Dental cameras, Surgical microscopy cameras, Other cameras)
2. By Sensor (CMOS, CCD)
3. By Resolution (SD Cameras, HD Cameras)
4. By End-Users (Hospitals, Ambulatory surgical centers, Specialty clinics, others)
5. By Region (North America, Europe, Asia-Pacific, Rest of the World)
6. By Company (Olympus Corporation, Sony Corporation, Danaher, Canon Inc., Carl Zeiss AG, Canfield Scientific Inc., Richard Wolf GmbH, Stryker Corporation, Smith & Nephew, Medicam, etc.)

Key questions answered in the study:

1. What are the current and future trends of the Global Medical Cameras industry?
2. How the industry has been evolving in terms of end-user demand and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Medical Cameras industry?
5. What are the customer orientation, purchase behavior, and expectations from the Medical Cameras firms across various regions?

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About UnivDatos Market Insights

UnivDatos Market Insights (UMI) is a passionate market research firm and a subsidiary of Universal Data Solutions. We believe in delivering insights through Market Intelligence Reports, Customized Business Research, and Primary Research. Our research studies are spread across topics across the world, we cover markets in over 100 countries using smart research techniques and agile methodologies. We offer in-depth studies, detailed analysis, and customized reports that help shape winning business strategies for our clients.

This release was published on openPR.