According to a new analysis by Growth Plus Reports, the global medical videoscopes market is estimated to be worth US$ 33.82 billion by 2030, with a revenue CAGR of 7.0%. The study examines the key strategies, factors and prospects, competitive landscape, evolving industry patterns, market size, financial information and forecasts, and potential business opportunities.
- The increasing prevalence of chronic diseases that require endoscope procedures will drive market growth.
- The growing demand for bariatric surgery for weight reduction will support market revenue growth.
- North America will dominate the global market with the largest revenue share.
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Medical Videoscopes Market Scope
|Market size value in 2021||US$ 18.4 billion|
|Revenue forecast in 2030||US$ 33.82 billion|
|Growth Rate||CAGR of 7% from 2022 to 2030|
|Base year for estimation||2021|
|Segments covered||Product, Application, and Region.|
|Regional scope||North America, Europe, Asia Pacific, and the Rest of the World (ROW)|
The rising preference for minimally invasive procedures is the primary factor driving the revenue growth of the medical videoscopes market. Furthermore, the increased prevalence of diseases requiring endoscopies, the low cost of endoscope procedures, the increasing geriatric and obese population, and favorable reimbursement policies are expected to contribute to market revenue growth. Besides this, the adoption of advanced technologies, the incorporation of high-resolution technologies, and the miniaturization of endoscopes will boost market revenue growth.
Growth Plus Reports has analyzed the global medical videoscopes market from four perspectives: Product, Application, and Region.
Product Segmentation: Based on the product, the medical videoscopes market is segmented into visualization systems and video endoscopes. The visualization system segment dominates the market with the largest revenue share because of the use of advanced technological systems such as HD 3-chip cameras, 360-degree, 3D imaging systems, and ultra-high-definition LED multi-light technology, as well as a wide range of applications that provide video assisting in surgical procedures such as thoracic, anterior, and posterior spinal surgeries, bariatric, and general endoscopic procedures.
Application Segmentation: Based on the application, the medical videoscopes market is segmented into laparoscopy, arthroscopy, obstetrics/gynecology, gastrointestinal (GI) endoscopy, urology endoscopy (cystoscopy), bronchoscopy, mediastinoscopy, otoscopy, laryngoscopy, and others. The laparoscopy segment dominates the market with the largest revenue share because of the increasing use of laparoscopy in various surgeries, the growing obese population, the growing demand for bariatric surgery for weight reduction, and the growing preference for minimally invasive procedures.
Regional Growth Dynamics
Based on the region, the global medical videoscopes market is segmented into North America, Europe, Asia Pacific, and the Rest of the World.
North America dominates the global medical videoscopes market with the largest revenue share. The rising prevalence of cancer and orthopedic, gastrointestinal, and ophthalmic diseases, the adoption of advanced technologies, advanced healthcare infrastructure, the increased demand for minimally invasive procedures, and the presence of top market players in the region are the major factors responsible for North America’s significant revenue share in the global market.
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The following companies are important players in the global medical videoscopes market:
- Olympus Corporation
- Stryker Corporation
- Fujifilm Holding Corporation
- KARL STORZ GmbH & Co. KG
- ConMed Corporation
- Pentax Medical System (Hoya Corporation)
- Smith and Nephew; Plc.
- Medtronic; Plc
- Arthrex; Inc
- Welch Allyn; Inc.
- XION GmbH
- US Endoscopy
- Richard Wolf GmbH
There is moderate competition in the medical videoscopes market. To introduce novel products, the major players in the market emphasize research and development. Major companies often engage in mergers and acquisitions to enhance their market share.
- Olympus Corporation announced the launch of their VISERA ELITE III surgical visualization platform in September 2020. It offers various imaging capabilities supported by a single system, allowing for minimally invasive procedures such as laparoscopic colectomy and laparoscopic cholecystectomy.
- Fujifilm obtained regulatory clearance in September 2020 for its latest generation Endoscopic Ultrasound endoscope (EG-740UT) combined with the ARIETTA 850 FF ENDO for the upper gastrointestinal tract.
Table of Content
- Market Ecosystem
- Timeline Under Consideration
- Historical Years – 2020
- Base Year – 2021
- Forecasted Years – 2022 to 2030
- Currency Used in the Report
- RESEARCH METHODOLOGY
- Research Approach
- Data Collection Methodology
- Data Sources
- Secondary Sources
- Primary Sources
- Market Estimation Approach
- Bottom Up
- Top Down
- Market Forecasting Model
- Limitations and Assumptions
- PREMIUM INSIGHTS
- Current Market Trends (COVID-19 Perspective)
- Key Players & Competitive Positioning (2021)
- MARKET DYNAMICS
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VALUE PROPOSITIONS RELATED TO THE REPORT:
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- Comprehensive quantitative and qualitative insights at segment and sub-segment level
- Covid 19 impact trends and perspective
- Granular insights at global/regional/country level
- Deep-rooted insights on market dynamics (drivers, restraints, opportunities) and business environment
- Blanket coverage on competitive landscape
- Winning imperatives
- Exhaustive coverage on ‘Strategic Developments’ registered by leading players of the market
- Distributor Landscape Assessment
- Pricing Intelligence
- Customer Base Assessment
- Investment & Initiatives Analysis
- ‘Business Profile’ of Key Players
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