Surgical Visualization Systems Market | The Growing Elderly Population Would Be a Primary Driver Impacting the Growth

According to Precision Business Insights (PBI), the latest report the global surgical visualization systems market is expected to be worth USD 4,876.3 million in 2022 and projected to grow at an 7.5% CAGR over 2022 to 2028. The increasing incidence of ailments such as colorectal cancer, gastrointestinal disorders, pancreatic abnormalities, urological, gynecological, and respiratory issues is likely to drive market expansion. According to the World Cancer Research Fund, colorectal cancer is the third most prevalent cancer in males and the second most common disease in women. Furthermore, the WHO predicts that the number of new colon cancer cases will rise from 1.15 million in 2020 to 1.51 million by 2028. This is expected to boost endoscopic procedure demand in the future years. Aside from that, the growing senior population increases the number of patients seeking endoscopic operations. According to the United Nations, the number of individuals aged 65 and more is predicted to rise from 703 million in 2019 to 1.5 billion by 2050. Over the forecast period, this is expected to boost the market for endoscopic visualization systems.

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The Endoscopic Cameras Segment is Dominating the Surgical Visualization Systems Market:
The Endoscopic Cameras segment is expected to account for a larger revenue share and the market is expected to grow at a double-digit growth rate over the forecast years owing to rapidly expanding senior population globally and the increasing frequency of chronic illnesses that might be attributable to the growing need for medical equipment. Many countries throughout the world are grappling with the issue of an aging population. According to the United Nations (UN), there were 703 million people aged 65 and more around the globe in 2019. The elderly population is expected to surpass 1.5 billion by 2050. Non-invasive operations (mainly employing endoscopy and microscope surgical cameras) are favored for the elderly since they have fewer problems than traditional surgeries.

North America Leads Surgical Visualization Systems Market:
North America is expected to hold a significant market share in the global Surgical Visualization Systems market and is projected to grow at a prominent growth rate over the forecast years. Because of the presence of prominent players, increased manufacturing investments, a focus on research and development, and a well-established healthcare infrastructure, the area is expected to continue to dominate the market over the projection period. The Asia Pacific market is expected to grow rapidly during the projected period. During the projected period, market growth is likely to be boosted by increased disposable income, a large population base, and the number of procedures done.

Strategic New Product Launches, Mergers, Acquisitions and Agreements are the key strategies adopted by market players:
Global Surgical Visualization Systems market: further reveals that the key players increasingly adopting strategies such as the launch of newer products, product launches, and long-term alliances to improve market revenue share and gaining significant geographic presence across the region. For instance,In July 2020, Fujifilm Corporation launched ELUXEO Surgical System that provides excellent visualization while performing both rigid and flexible from a single tower.

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1)By Product
o Endoscopic Cameras
o Light Sources
o Displays and Monitors
o Video Recorders
o Accessories

2)By Application
o Gastroscopy
o Endoscopy
o Others

3)By End-User
o Hospitals
o Diagnostic Imaging Centers
o Others

4)By Geography
o North America
o Europe
o Asia-Pacific
o Latin America
o Middle East and Africa (MEA)

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Key player's profiles in the surgical visualization systems market report are Carl Zeiss Meditec AG, Fujifilm Corporation, Medivis, Karl Storz GmbH & Co. Kg, Laborie, Inc, Conmed Corporation, Stryker Corporation, Happersberger otopront GmbH, Acutronic Medical Systems AG, Vantage Endoscopy.

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