With 7.9% CAGR, Visible Light Range Scientific Camera Market Growth to Surpass USD 0.6 billion

The visible light range scientific camera market is projected to reach USD 0.6 billion by 2028 from USD 0.4 billion in 2023; it is expected to grow at a CAGR of 7.9% from 2023 to 2028.

The Asia Pacific region presents significant growth opportunities for the medical camera market. This can be attributed to its massive patient population, the rapid expansion of the healthcare industry, and the shifting focus of manufacturers toward developing countries in this region. The vast patient and geriatric populations in China and India and the subsequent increase in the prevalence of ophthalmological and dermatological diseases pose a lucrative opportunity for the providers of camera technology. Treatment for these diseases demands the use of endoscopes, retinal cameras, and intraoral cameras.

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Additionally. the healthcare industry in this region is rapidly expanding with a twofold increase in the number of hospitals and medical and dental facilities. According to the OECD, the number of hospitals in emerging economies such as China, India, and Japan is expected to increase considerably in the coming years compared to mature markets across the US and Europe, where there is a reported decline in the number of hospitals. The rising number of hospitals can largely be attributed to the rapidly increasing population and the growing healthcare expenditure in these regions. For example, in China, as of February 2019, there were 21,165 private hospitals, including 2,185 new ones, in the same period of 2019. According to China Educational Tours, there will be 35,900 private hospitals by the end of 2023. This increase in hospitals will boost the demand for medical equipment, including medical cameras, for various applications.

Image fusion produces a single image by combining information from source images, using the data/pixel feature or the decision-level techniques. The image from the infrared thermal and daylight cameras can be covered to create one image with higher readability, especially at dusk, dawn, or in smoking conditions. However, when fused to create a single image, the image size and position are challenging to match. Hence, there is an opportunity to improve the quality of the fused images. The main aim of an image fusion algorithm is to mix the redundant and complementary information obtained from the source images to make a new image, which provides a better description of the scene for the picture output.

The American Rescue Plan Act of 2021 (ARPA) released a series of grants to help government and law enforcement meet the challenges brought by the COVID-19 pandemic. One of the more severe impacts of the pandemic is the reduced number of law enforcement personnel, whether due to illness or attrition. ARPA grants enable communities and law enforcement authorities to invest in preventative policing methods such as mobile surveillance trailers or mounted pole scientific cameras. Public records show that at least five municipalities in Connecticut have allocated millions of dollars provided through the ARPA to equip local police departments with the latest surveillance technology. Mobile video surveillance units act as a force multiplier. The additional surveillance on the ground can quickly enhance public safety. They provide law enforcement organizations with 24/7 coverage of areas associated with illegal dumping, vehicle crime, theft, drug dealing, gang culture, and other criminal activities. This helps in driving the visible light range scientific camera market.

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The major players in the visible light range scientific camera market include Hamamatsu Photonics (Japan), Teledyne Technologies (US), Thorlabs, Inc. (US), XIMEA GmbH (Germany), Photonic Science (UK), Excelitas PCO GmbH (PCO-TECH Inc.) (Germany), Oxford Instruments (Andor Technology) (UK), Atik Cameras (UK), Diffraction Limited (Canada), and Spectral Instruments, Inc. (US).

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