Medical Camera Market

Global Medical Camera Market Size (2024 to 2029)

The global medical camera market is forecasted to grow by 4.92 USD billion by 2029 from USD 3.19 billion in 2024, growing at a CAGR of 9.1% during the forecast period.

Medical camera assists surgeons and clinical staff by providing images during various medical procedures such as endoscopy, spectroscopy, ophthalmology, arthroscopy, and robotic surgery. In addition, they help diagnose and treat diseases during 'surgery by revealing a person's internal organs. It also generates a normal anatomy and physiology database, making it possible to identify abnormalities in a person's internal organs. Medical cameras using infrared technology generate various wavelengths, which are events that determine properties such as water content, chemical components, and temperature, which cannot be done with a regular camera. Cameras having thermal imaging features can detect inflamed tissue or abnormal blood circulation. 3D medical imaging is used in various applications such as cosmetic surgery simulation, monitoring of rheumatoid arthritis, and dental prosthesis. For example, high-speed imaging techniques 'can capture and process the movements of a person suffering from muscular-skeletal diseases.

MARKET DRIVERS

The global medical camera market growth is driven by factors such as the rising need for medical procedures requiring medical cameras, growing technological advancements, favorable laws set by the government, and substantial RED Investments.

The growing adoption of technological advancements to manufacture advanced medical cameras and enhance the capabilities of the devices, coupled with the increasing number of surgical procedures requiring medical cameras, is promoting the need for more medical cameras. The medical camera assists surgeons and clinical staff by providing images during various medical procedures. They are designed expertly to help doctors investigate patients' internal conditions. These cameras have advanced technologies that help to detect individual particles of light called photons. These small tools enable surgeons to perform the procedure through smaller incisions. In addition, cameras are placed in one of the trocars for enhancing, enlarging, and illuminating various organs and structures, providing a magnified view for better visualization and aiding in the surgical process.

The growing efforts from the market participants in terms of R&D are expected to result in the growth of the global medical camera market. Some of the major players in the market are Carestream Health, Olympus Corporation, and Stryker Corporation. The market represents a concentrated market with 'companies exhibiting superior economic performance. Implementation of several strategies such as mergers and acquisitions activity, strategic collaborations with several research institutions, and retaining brand loyalty, these companies own commanding shares in their industries. Other market drivers include the prominence of the leading brands, making them less vulnerable to high prices ~ which is a distinct feature of a concentrated market. However, the expected entry of new entrants with novel and 'advanced technologies is responsible for solid market dynamics and concentration.

An increase in the geriatric population, vulnerable diseases, and age-related issues also contribute to the market's growth. In addition, factors such as H.D. visualization for more understanding of the problems by medical professionals contribute to the market's growth. Growth factors also include rising demand for high-definition visuals in surgical procedures is expected to increase the demand for medical cameras in hospitals. Furthermore, there is a rising number of surgeries across the globe, propelling the market's overall growth. Manufactured devices have features like high sensitivity and high dynamic range sensors, which are used for many medical applications. In addition, these devices are easy to use and install. These high-quality precision cameras are often used in the digital inspection and lab environments. The medical camera is most used in Hospitals, Diagnostic Centres, Specialty Clinics, and Ambulatory Surgery Centres.

MARKET RESTRAINTS

Factors such as health hazards due to radiation exposure, the high equipment price, and insufficient knowledge about operating the devices from workers are hampering the medical camera market growth. Operating medical cameras is a significant thing in detecting a disease or a tumor. If the person makes any mistake in the examination, it may lead to loss of life.

Some other significant market restraints that held back the growth of the medical camera market are many companies across the globe faced losses due to failed quality checks and processes. For instance, Japanese camera companies fought for survival in 2018 but suffered an injury as it declined roughly by 80%. In addition, some of the radioisotopes being used in the manufacturing of medical camera devices need a high level of proctoring process. One such example of radioisotopes is Technetium-99m is used in gamma cameras, and SPECT (a susceptible technique to detect parathyroid adenomas in the human body) for body imaging,

Impact of COVID-19 the global medical camera market

COVID-19 has a vulnerable impact on many other markets, as well as on the medical camera market. As a result of the disruption caused by the COVID-19 pandemic, many researchers will need help meeting the timelines. The funds for research and development are on hold in many countries. The exports of materials and devices have been on hold due to the COVID crisis. There's a significant impact on the constant quality check, manufacturing, and production of medical camera devices.

REPORT COVERAGE

SEGMENTAL ANALYSIS

Global Medical Camera Market Analysis By Product

Based on product type, the microscopes segment had the most significant global medical camera market share in 2023. It is also expected to grow fastest, owing to the rising geriatric population and rising demand for microscopes in various medical applications. For example, microscopes are used to see the virus and microorganisms which cannot see with the naked eye. In medical research and organizations, these microscopes are used by physicians, scientists, and healthcare professionals, which helps to get knowledge on the particular field for further use. It is also used in treatment to know the new treatment method to increase the success rates.

Global Medical Camera Market Analysis By Camera Type

Based on the camera type, the Endoscopy cameras segment has the largest market share due to the rising number of operations done using endoscopy techniques. Endoscopy helps to test inside the body, which is used for better treatment. In this endoscopy process, a small medical camera is passed through the body to detect the disease location for treatment. This camera provides the images inside the body and displays them on the screen, which demands the market's growth. Furthermore, increasing the adoption of minimal invasion surgeries also demands market growth. In addition, increasing the use of capsule-based endoscopy also helps the growth of the market. In this capsule-based endoscopy, a camera is attached to the capsule and taken by the patient, which is used to see the internal part of particular body parts for the treatment examination. Manufacturers are using high-end quality cameras to get clear pictures of the internal body part for better treatment. These images are seen on the outside of the monitor by the healthcare provider to point out the exact location of the disease.

Due to the increasing number of skin diseases and problems, the dermatology camera segment has the market share. This dermatology camera gives the apparent skin problem for the apricate treatment. A new dermatology camera known as Casio DZ-D100 Dermocamera and DZ-S50 Dermoscopy was approved by the U.S. Food and Drug Administration (FDA) for skin problems.

Global Medical Camera Market Analysis By Sensor Type

The CMOS has the largest share in the segment based on sensor type since they consume less power, have a high frame rate, and have a low manufacturing price. Complementary metal oxide semiconductor sensors are used to form images in digital cameras, digital video cameras, and digital CCTV cameras. CMOS can also be found in astronomical telescopes, scanners, and barcode readers.

Global Medical Camera Market Analysis By End User

The hospital segment has the highest market share due to the increasing surgeries and healthcare expenditure. In addition, increasing advancement in the manufacturing of medical cameras also demands segment growth.

The clinics and ambulatory surgery centers segment also have demand due to the increased patient population.

REGIONAL ANALYSIS

Geographically, the North American medical camera market has the largest market share globally and is expected to retain its position during the forecast period. The enormous technological advancements and significant market players located in the United States and its high investments in research and development (R&D) are the underlying factors for their dominance in the industry. As a result, U.S. medical camera market held a significant industry share. In addition, the increasing geriatric population and escalating demand for minimally invasive procedures will drive market growth.

On the other hand, the European medical camera market is the second-largest life science device technologies market due to the increased geriatric (old age) population combined with the relaxed government regulations aiding the market growth. However, owing to the economic uncertainty and political instability over the past few years, this region is expected to witness a sluggish growth rate during the forecast period. In the United Kingdom, medical cameras are used in different fields in an optical microscope, for blood examination in laboratories, and in viewing the small virus on any wounds for related treatment. Increasing training center for operating medical cameras in different sectors also helps the growth of the market. People are showing interest in taking these types of courses through the awareness program in colleges and external programs related to education in the healthcare sector field, increasing the medical camera growth.

The Asia-Pacific medical camera market is expected to exhibit the fastest growth due to the continuous advancements in imaging technology, increasing awareness about timely diagnosis and treatment, and rigorous government initiatives implemented to modernize healthcare infrastructure. In addition, substantial investments in R&D by countries such as China and India and their efforts in developing a highly skilled workforce specializing in science and engineering contribute to the market's growth. China accounts for 20%of global R&D, making it the second-largest country investing in R&D compared to the United States, which accounts for 27%. Indian scientist has teamed up with a U.K. university to create different types of medical cameras that are used to see through the human body, which is helpful for internal examination for better treatment. China-based researchers are concentring on manufacturing medical cameras with advanced technology such as artificial intelligence.

Furthermore, the Latin American medical camera market has significant growth potential due to developing life science infrastructure and high disposable income. Brazil presents a lucrative future opportunity due to a large patient pool and the ongoing development of healthcare infrastructure. Argentina also holds the maximum share in the market growth due to increasing camera manufacturing for heart-related diseases. Furthermore, due to increasing heart-related problems in a significant number of people and the maximum of the cases leading to mortality, demand the market in this region.

The MEA medical camera market is predicted to grow at a decent CAGR during the forecast period due to the rapid adoption of the latest technology, the presence of advanced healthcare infrastructure, and increasing per capita expenditure on healthcare will further expand the market in this region.

KEY MARKET PLAYERS

A few of the promising companies in the global medical camera market covered in this report are Haag-Streit USA (U.S.), Danaher Corporation (U.S.), Carl Zeiss Meditec AG (Germany), Allied Vision GmbH (Germany), Topcon Corporation Japan), Nikon Corporation (Japan), SPOT Imaging Solutions (U.S.), JOEL Ltd. Japan), Stryker Corporation (U.S.), and Olympus Corporation Japan).

RECENT HAPPENINGS IN THIS MARKET

• In 2019, Olympus launched a small intestine endoscopy system, "power spiral," in Asia, including Hong Kong, India, and Europe. In 2018, Olympus launched ENF-VT3, the world's first rhino-laryngo video scope to incorporate 4-direction angulation capability.
• In 2018, karlStroz launched a 4mm Endoscopic NIR/ICG Fluorescence Imaging System, enhancing minimally invasive neurosurgery.
• In 2020, Optomed launched Aurora IQ, a handheld fundus camera with integrated artificial intelligence for faster eye screening.

DETAILED SEGMENTATION OF THE GLOBAL MEDICAL CAMERA MARKET INCLUDED IN THIS REPORT

This market research report on the global medical camera market has been segmented and sub-segmented based on the product, camera type, sensor type, end-user, and region.

By Product

• Microscopes
• Medical C]Eameras

By Camera Type

• Endoscopy Cameras
• Dermatology Cameras
• Ophthalmology Cameras
• Dental Cameras
• Surgery Microscopy Cameras

By Sensor Type

• I charged a Couple of Devices
• Complementary Metal Oxide Semiconductor (CMOS)

By End User

• Hospitals
• Diagnostic Centers
• Specialty Clinics & Ambulatory Surgery Centers

By Region

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa