Medical Cameras and Microscopes Market to expand at CAGR of 4%, Changing Population Demographics and Rise in Prevalence of Diseases to Drive the Global Market, Says TMR
- Advancements in imaging technologies, along with augmented spending on R&D activities to boost market growth. High prevalence of neurological conditions to make neurosurgery a lucrative end-use sector.
- The North America medical cameras and microscopes market is expected to be driven by a highly structured healthcare industry and growing elderly population
ALBANY, N.Y., Nov. 22, 2021 /PRNewswire/ -- The global medical cameras and microscopes market is expected to be driven by rise in prevalence of diseases, changes in population demographics, and desire for minimally invasive surgeries (MIS).
In 2018, North America accounted for a considerable share of the global medical cameras & microscopes market. The domination of these two regions can be ascribed to the rising prevalence of various chronic illnesses, as well as breakthroughs achieved in medical camera and microscope technology. From 2019 to 2027, the Asia Pacific is expected to be one of the rapidly growing regions in the global medical cameras & microscopes market. Increasing disposable income, more understanding about the product, and other factors are likely to propel the market in the region.
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The global medical cameras and microscopes market was valued at US$ 1.1 Bn in 2018 and the market is expected to grow at a CAGR of 4% over the forecast period, from 2019 to 2027.
Key Findings of Market Report
- Optical Microscopy Sector to Drive Demand for Medical Cameras and Microscopes
The number of applications for optical microscopy has increased dramatically in the past few years. Optical microscopy has uses in a wide range of disciplines of science as well as industry, including microbiology, microelectronics, nanophysics, and biotechnology to name a few. Microscopy is commonly used in therapeutic settings as well. The rise in popularity of minimally invasive medical treatments has led to an increase in the number of microsurgeries done with the use of a sophisticated magnifying lens. As a result, there has been a surge in demand for high precision magnifying devices. In few areas, highly precise magnifying devices are the most useful. Dentistry, neurosurgery, ENT surgery, and other procedures are fiends where it is used widely. In addition, the growing population of the elderly people and the prevalence of diseases have fueled interest in clinical cameras for treatment and analysis.
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- Ability to Produce High-resolution Pictures to Drive Demand for Surgical Microscope Cameras
Surgical microscope cameras are likely to lead the global medical cameras and microscopes market, and this trend is expected to continue over the forecast period, from 2019 to 2027. In order to acquire high-resolution live pictures, surgical microscope cameras are employed. These cameras make the process of imaging simpler from capturing to processing, which is a key element in the expansion of the global medical cameras & microscopes market.
Medical Cameras and Microscopes Market: Growth Drivers
- Neurosurgery industry is likely to dominate the global medical cameras and microscopes market. This can be attributed to the rising incidence of neurological diseases that necessitate repeated hospitalizations, such as paralysis, comas, brain tumors, and Parkinson's disease.
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- The geriatric population is expected to suffer from a variety of chronic illnesses across the world. Today, three out of every four Americans aged 65 years and above deal with health issues such as cardiovascular disease, diabetes, growth of malignant tumors, or chronic respiratory diseases.
Medical Cameras and Microscopes Market: Key Competitors
Some of the key market players are
- Allied Vision Technologies GmbH
- Carl Zeiss Meditec AG
- Nikon Corporation
- Haag-Streit Holding
- Topcon Corporation
- Stryker Corporation.
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Medical Cameras and Microscopes Market: Segmentation
- Endoscopy Cameras
- Dermatology Cameras
- Ophthalmology Cameras
- Dental Cameras
- Surgical Microscope Cameras
- Pathology Microscope Cameras
- Hospital Laboratories
- Diagnostic Laboratories
- Physician Offices
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Surgical Microscopes Market: The key success factor projected to catapult the growth of the surgical microscopes market is the alarming prevalence of cancer and similar severe chronic diseases that require surgical microscopes to optimize the throughput time for patients and improve diagnostic efficiency. Rise in the geriatric population is another key driver of the global surgical microscopes market, as it constitutes the major share of the patient population suffering from chronic diseases
Optical Microscopes Market: The global optical microscope market is expected to expand at a significant rate driven by increase in demand from innovation science. The optical microscope market was valued at about US$ 1.6 Bn in 2016 and is projected to expand at a CAGR of around 6% during the forecast period
Life Science Microscopy Devices Market: The demand for life science microscopy devices has increased by leaps and bounds over the previous decade. Advancements in the micro aspects of medical sciences and healthcare have played a prominent role in the growth of the global life science microscopy devices market
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