The global Medical Cameras Market size is expected to value at USD 18.06 billion by 2025. The market is subject to witness a substantial growth due to the growing importance towards high-resolution digital images to achieve excellent clarity and precision in medical and healthcare applications. Additionally, complete transformation of the medical imaging platforms and systems, in the recent years, thus supporting the need for technologically sophisticated medical cameras is anticipated to stimulate the growth of medical camera market.
Medical cameras allows facilitation for precise analysis of several conditions and aid in decision making for doctors and clinicians. Globally, the medical cameras industry is predicted to grow at higher CAGR in the forecast period, providing numerous opportunities for market players to invest for research and development in the market of medical cameras.
In addition, use of medical cameras helps to identify and determine of any particular disorder or anomaly in the patient. Medical cameras can easily detect common symptoms by enhancing field of view, thus offering clarity, flexibility and adaptability during the treatment by addressing new possibilities. These factors are expected to play a critical role for sustained market growth over the forecast period.
Increase in the number of minimally invasive surgeries performed each years coupled with the technological advances in the healthcare sector are likely to enlarge demand for advanced life science equipment. The recent technological advancement coupled with development of the novel products & techniques such as advanced digital imaging and highly sensitive sensor technologies are expected to provide platform for the sustained growth of medical cameras market in the upcoming years.
Growing popularity of the medical cameras among healthcare professionals and clinicians are estimated to offer lucrative growth opportunities for industry player over the forecast period. Growing geriatric population and emergence of cost effective solution are propelling market growth as well, in the recent years. Increasing need for modernization and centralization of healthcare administration and services and growing demand for superior quality and safety of healthcare services are expected to pave the way for future market growth of medical cameras as well.
In addition, early adoption of medical cameras helps to enhance care delivery given to patients, thereby positively influencing market demand for medical cameras. Additionally, use of the medical cameras helps to identify early symptoms diseases from going unnoticed. These factors are expected to boost the growth of medical cameras industry over the forecast period.
The market of medical cameras is broadly categorized into major segments based on the technology insights such as digital imaging (3D/2D), infrared imaging, OCT (Optical Coherence Tomography), and liquid lens technology. The digital imaging (3D/2D) is considered as one of the fastest growing segment in the medical camera market with substantial revenue generation in the last few years.
Growing popularity of the digital imaging (3D/2D) segment is attributed to the large-scale adoption of 2D or 3D imaging across a wide range of imaging applications that ranges from dentistry to ophthalmology and neurological procedures. The OCT (Optical Coherence Tomography) segment has also witnessed substantial growth owing to the growing use in the certain eye condition/diseases to carry out diagnosis and monitoring.
The medical cameras industry is divided by region as North America, Europe, Asia-Pacific, Latin America and Africa. North America has shown major growth in recent years owing to the rise in the implementation of latest technologies in healthcare sector, increase in the number of research & development activities in the region, and existence of well-established industrial infrastructure.
Asia-Pacific region is predicted to hold major market share in the medical cameras with massive growth in forecast period. Countries such as India, China and Singapore are leading the Asia-Pacific market with improved healthcare infrastructure, increasing healthcare expenditure, rising per capita income, growing awareness among general population and significant investment by leading industry players considering potential growth opportunities in the region. The key players in the medical camera industry are Carestream Health, Inc., Canon, Inc., Olympus Co., and Stryker Co.
Application Outlook (Revenue, USD Million; 2014 - 2025)
Technology Outlook (Revenue, USD Million; 2014 - 2025)
• Digital imaging (3D/2D)
• OCT (Optical Coherence Tomography)
• Liquid lens technology
Regional Outlook (Revenue, USD Million; 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• South Africa
• Saudi Arabia
Research Support Specialist, USA