The Global Medical Camera Market is expected to grow at a CAGR of 7.2% from 2021-2027 to reach US$ 4 billion by 2027.
A comprehensive overview of the medical cameras market is recently added by UnivDatos Market Insights to its humongous database. The medical cameras market report has been aggregated by collecting informative data of various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the medical cameras market. The medical camera market report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates the medical camera market at the global and regional levels. The Global Medical Camera Market is expected to grow at a CAGR of 7.2% from 2021-2027 to reach US$ 4 billion by 2027.
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Market Overview
The Global medical camera market is experiencing significant growth on account of the increasing patient pool and higher mortality rate due to gastrointestinal diseases worldwide. For instance, according to the data published in the healthcare blog, nearly 70 million people are affected by gastrointestinal diseases every year in the United States, twice as many people as those suffering from Diabetes (34.2 million). Owing to these alarming facts, worldwide demand for endoscopic procedures is rising as they are advanced and minimally invasive options for examining the internal structure of the organ enabling doctors to diagnose and treat the disease accurately.
Furthermore, the growth of the medical cameras market is also attributable to the rising demand for less invasive procedures coupled with a growing geriatric population all over the world. For instance, according to the World Health Organization, the proportion of the world's population over 60 years will nearly double from 12% to 22%, between 2015 and 2050. Also, by 2050, nearly 120 million people aged 80 years or older will be living in China alone, and 434 million people in this age group worldwide.
Additionally, The medical camera market is boosting owing to numerous startups and new product innovations driving its worldwide popularity. For example, Samsung launched the eyelike fundus camera in April 2021 designed to transform older galaxy smartphones into ophthalmic equipment. This eyelike handheld fundus camera uses AI algorithms on older Galaxy phones to analyze and diagnose patients for ophthalmic diseases.
Global medical cameras market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
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By Camera Type, the market is primarily fragmented into
· Endoscopy Cameras
· Ophthalmology Cameras
· Dermatology Cameras
· Dental Cameras
· Surgical Microscopy Cameras
· Other Cameras
Amongst camera types, the market is fragmented into endoscopy cameras, ophthalmology cameras, dermatology cameras, dental cameras, surgical microscopy cameras, and other cameras. The endoscopy camera segment of the global medical camera market was valued at USD XX billion in 2020 and is likely to reach USD XX billion by 2027 growing at a CAGR of XX% from 2021-2027. The high growth rate of this segment is attributable to the increase in the number of endoscopic procedures all over the world.
By Sensor, the market is primarily segmented into
· CMOS
· CCD
By sensor, the CMOS segment dominated the global medical cameras market and will row at XX% CAGR to reach US$ XX billion by the year 2027 owing to numerous advantages offered by CMOS sensors in comparison to CCD sensors.
By Resolution, the market is primarily fragmented into
· HD Camera
· SD Camera
By resolution, HD camera dominated the market and grabbed a major market share of XX% in 2020. This segment will witness considerable growth with a CAGR of XX% during the forecast period as in order to properly diagnose and treat a disease high-quality images are required which we can get by high-definition cameras.
By End-Users, the market is primarily segmented into
· Hospitals
· Ambulatory Surgery Centers
· Specialty Clinics
· Others
By end-users, the hospital segment dominated the market in 2020 and is expected to maintain its dominance during the projected timeframe owing to the increase in healthcare expenditure and rise in the number of hospitals across the world.
Medial Camera Market Geographical Segmentation Includes:
· North America (United States, Canada)
· Europe (Germany, United Kingdom, Italy, France, Spain, and Rest of Europe)
· Asia-Pacific (China, Japan, India, Australia, and Rest of Asia-Pacific)
· Rest of the World
Geographically, the North American region dominated the medical camera market with almost US$ XX billion in revenue in 2020 owing to the increasing disposable income of the consumers leading to an increased standard of living and the number of key players in the region. For instance, Americans had a total of 15.74 trillion dollars in disposable personal income in 2019. Per capita, personal disposable personal income was 47,763 dollars in that same year. Also, according to the U.S. Bureau of Economic Analysis, Disposable Personal Income in the United States increased from 17721.01 USD Billion in February of 2021 to 21902.41 USD Billion in March 2021. In addition to this, the growing elderly population in the United States and the number of people adopting less invasive surgical procedures are further augmenting the global medical camera market.
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The major players targeting the market includes
· Olympus Corporation
· Sony Corporation
· Danaher
· Canon Inc.
· Carl Zeiss AG
· Canfield Scientific, Inc.
· Richard Wolf GmbH
· Stryker Corporation
· Smith & Nephew
· Medicam
Competitive Landscape
The degree of competition among prominent global companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the medical camera market. The major players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:
• What are the latest trends, new patterns, and technological advancements in the medical camera market?
• Which factors are influencing the medical camera market over the forecast period?
• What are the global challenges, threats, and risks in the medical camera market?
• Which factors are propelling and restraining the medical camera market?
• What are the demanding global regions of the medical camera market?
• What will be the global market size in the upcoming years?
• What are the crucial market acquisition strategies and policies applied by global companies?
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