Medical Cameras Industry is the Next Big Thing| Fortune

Posted by Nicky Arora on March 23rd, 2020

The global medical cameras market size is expected to reach a value of USD 18.06 billion by 2025, according to a new report by Grand View Research, Inc. Medical cameras have gained an indispensable position in modern medicine. Images and videos released from medical cameras are currently used across life science applications where visual study requires documentation. These cameras find an array of application majorly in microscopy, ophthalmology, pathology, endoscopy, lab automation, biomedical research, rheumatology, and other specialties.

These products ensure accurate diagnosis thereby facilitating the doctors to make precise and appropriate interpretations. Performance benchmarks are increasing to ensure better healthcare delivery, owing to the increasing private funding and investments in healthcare facilities and infrastructure. Consistent technological advancements coupled with increased acceptance and application of products is expected to exhibit good market growth during the forecast period. However, medical images and videos are highly sensitive healthcare records and hence use of camera technologies and products are restrained.

The market on the basis of application is witnessing significant growth in the endoscopy segment, owing to wide range of use in examinations of the gastrointestinal tract, the respiratory tract and other procedures such as laparoscopy, arthroscopy, cystoscopy, obstetrics, bronchoscopy, laryngoscopy, mediastinoscopy and others. By technology, digital imaging (2D/3D) segment occupied the largest market share, owing to several advantages such as instant examination of the images, and can be recaptured if necessary and no film purchase or development costs are involved.

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Further Key Findings From the Study Suggest:

• Endoscopy is the largest segment, owing to the rising demand for minimally invasive surgeries and the increasing prevalence of diseases such as arthritis, cancer and cardiovascular diseases
• The Digital imaging (3D/2D) technology holds the largest market share in the year 2015 that use CMOS / 3CCD image sensors. However, CMOS digital imaging is expected to replace CCD technology due to certain advantages such as less power consumption and increased consolidation.
• Dermatology is anticipated to exhibit highest growth rate owing to increase in chronic dermatological diseases and complications and the subsequent rise in the use of medical cameras to diagnose dermatological conditions.
• Asia-Pacific region is anticipated to record fastest growth owing to the continuous advancements in imaging technology, and increase in R&D in efforts to improve healthcare infrastructure. .
• Some of the major key players in the medical cameras market include Carestream Health, Inc., Canon, Inc., Olympus Corporation, and Stryker Corporation.