Fact.MR – a market research and competitive intelligence provider, projects the global medical camera market to have a positive outlook, expanding at a CAGR of above 8% across the 2021-2031 forecast period.
North America Dominates The Market With A Share Of Around 50%, Due To Widespread Technological Advancements And Presence Of Chief Market Players.
“Growing preference for high resolution digital images rendering excellent clarity & precision in medical & healthcare applications expected to boost demand for medical cameras,” says a Fact.MR analyst.
Fact.MR – a market research and competitive intelligence provider, projects the global medical camera market to have a positive outlook, expanding at a CAGR of above 8% across the 2021-2031 forecast period.
Medical cameras are used to visualize internal body parts hidden by skin & bones for clinical purposes. These cameras find an array of application majorly in microscopy, ophthalmology, pathology, endoscopy, lab automation, biomedical research, rheumatology, and other specialties.
Technological advancements in medical cameras have facilitated more clarity in images and accurate diagnosis, which, in turn, has driven their demand over the years. Medical cameras are specialized types of camera that are used for documentation of clinical demonstration of patients, medical and surgical procedures, and medical devices. These are high-resolution cameras meant for obtaining enhanced and magnified images for clear diagnosis of any kind of injury, disease, or medical anomalies.
All these factors create an ideal environment for medical cameras across the world, and the market is expected to top a valuation of US$ 5 Bn by 2031.
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Key Takeaways from Market Study
- Global medical camera market to top US$ 2 Bn by 2031.
- Endoscopy segment projected to reach around US$ 1.5 Bn by 2031.
- Dermatology segment projected to record around 5% CAGR over the next 10 years.
- Market in Japan to record 4% CAGR over the forecast period of 2021- 2031.
- China to reach projected market size above US$ 1.1 Bn by the year 2031.
- Market in Canada projected to expand at above 5% CAGR over the next 10 years.
Market Competition
Companies leverage strategic collaborative initiatives to increase their market share and profitability. Companies operating in the market are also acquiring start-ups working to strengthen their product capabilities.
- In 2019, Carl Zeiss AG and the Christoffel Mission for the Blind (CBM) came together with a local partner, the Poona Blind Men Association, to open a new training center for the treatment of cataracts in Pune. The aim of this new center is to train ophthalmologists and medical personnel throughout the country in phacoemulsification, a modern surgical technique.
- In 2020, Optomed Plc launched Aurora IQ camera with integrated AI for faster eye screening.
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Country-wise Analysis
The market in the U.S. was valued at over US$ 800 Mn in 2020. Increasing funding by government agencies for the development of healthcare infrastructure and medical equipment is expected to drive market growth.
The U.S. is expected to hold a dominant position over the forecast period owing to increasing prevalence of gastrointestinal diseases that require endoscopies for diagnosis. In 2018, as per the New England Journal of Medicine (NEJM), around 18 Mn endoscopies were performed in the U.S. including 11 Mn colonoscopies.
By 2031, China is expected to have a market of roughly US$ 360 Mn. China spends 6% of its GDP on healthcare, according to estimates, and its medical equipment market has grown by double digits for the previous three decades.
Key Market Segments in Medical Camera Industry Research
- By Type:
- Dental Cameras
- Dermatology Cameras
- Endoscopy Cameras
- Ophthalmology Cameras
- Surgical Microscopy Cameras
- By Sensor:
- Charge Couple Devices (CCD)
- Complementary Metal-oxide Semiconductors (CMOS)
- By Resolution:
- High Definition Medical Cameras
- Standard Definition Medical Cameras
- By End User:
- Medical Cameras for Hospitals
- Medical Cameras for Diagnostic Centers
- Medical Cameras for Academic and Research Institutes
- Medical Cameras for Ambulatory Surgery Centers
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More Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the medical camera market, presenting historical demand data (2016-2020) and forecast statistics for the period of 2021-2031.
The study divulges essential insights on the market on the basis of type (dental cameras, dermatology cameras, endoscopy cameras, ophthalmology cameras, and surgical microscopy cameras), sensor (charge couple devices (CCD) and complementary metal-oxide semiconductors (CMOS)), resolution (high definition cameras and standard definition cameras), and end user, (hospitals, diagnostic centers, and academic & research institutes, ambulatory surgery centers), across seven major regions of the world (North America, Latin America, Europe, East Asia, South Asia, Oceania, and the Middle East & Africa).
Fact.MR’s Domain Knowledge in Healthcare
Our healthcare consulting team guides organizations at each step of their business strategy by helping you understand how the latest influencers account for operational and strategic transformation in the healthcare sector. Our expertise in recognizing the challenges and trends impacting the global healthcare industry provides indispensable insights and support - encasing a strategic perspective that helps you identify critical issues and devise appropriate solutions.
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