Medical Camera Market is Projected to Grow at a 7.2% CAGR by 2028 | Olympus Corporation, Stryker Corporation
SEATTLE, UNITED STATES, UNITED STATES, January 20, 2022 /EINPresswire.com/ -- New Research Study "Medical Camera Market 2022 analysis by Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges and Investment Opportunities), Size, Share and Outlook" has been added to Coherent Market Insights.
Medical cameras are special types of cameras, used to document patients' clinical demonstrations, medical and surgical procedures, and medical equipment. These are very high-resolution cameras to get enhanced and enhanced images for a clear diagnosis of any kind of injury, disease or medical discrepancy.
A wide variety of cameras are available for various imaging purposes, such as endoscopy camera, laparoscopy camera, urology camera, gynaecological camera, surgical camera and ear, nose, throat (ENT) camera. Technological advances in medical cameras have led to greater clarity of images and easier diagnostics, increasing the demand for medical cameras in the market.
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Increasing research and development for new technologies in medical imaging is likely to increase the size of the global medical camera market. High-resolution images are the result of technically sophisticated cameras. For example, scientists at the University of Edinburgh in Scotland developed a medical camera that can see through the human body in September 2017. These cameras are developed to track endoscopy equipment for internal conditions.
The global medical camera market is also likely to grow due to increased funding from government agencies for the development of healthcare infrastructure and medical equipment. According to a 2017 report by the US National Health Expenditure Accounts (NHEA), the US spent US $ 54.4 billion on sustainable medical devices in 2017. Furthermore, the use of medical cameras in various applications in endoscopy like laryngoscopy, bronchoscopy, colonoscopy, and gastroscopy is expanding the size of the global medical camera market.
A major deterrent to the growth of the global medical camera market is the aftermath of endoscopy. For example, after endoscopy of the upper gastrointestinal (GI) tract, some of the observed complications include bleeding (rupture of the GI tract), infection, chest pain, and adverse reactions to sedatives. Most endoscopies performed in the US and Europe are performed on patients who are on sedation, leading to major complications. According to a January 2018 report by the New England Journal of Medicine (NEJM), about 33% of patients developed minor respiratory complications and about 6% of patients developed major respiratory complications due to inappropriate sedatives.
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Due to the increasing prevalence of gastrointestinal diseases, which require endoscopy to diagnose the disease in the US, it is likely that North America will become dominant in the estimated period. In 2018, according to the NEJM report, about 18 million endoscopies were performed in the US, including 11 million colonoscopies. Moreover, new technological advances are also contributing to the growth of the global medical camera market.
For example, in March 2014, PillCam COLON 2, developed by Medtronic, was approved by the US Food and Drug Administration (FDA). Recognized as the least invasive device for colonoscopy in the US.
Due to the presence of key players operating in the medical camera market in Japan like Hamamatsu Photonics K.K., Sony Corporation, Canon Corporation, and Olympus Corporation, the medical camera market in Asia Pacific is likely to grow significantly.
Key players performing in the global medical camera market are Canon Corporation, Carestream Health, Sony Corporation, Hamamatsu Photonics K.K., Stryker Corporation, and Olympus Corporation.
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The following are the study objectives for this report:
路 SWOT Analysis focuses on worldwide main manufacturers to define, assess, and analyse market competition. By kind, application, and region, the market is defined, described, and forecasted.
路 Examine the global and main regional market potential and advantage, opportunity and challenge, constraints and risks.
路 Determine whether trends and factors are driving or limiting market growth.
路 By identifying high-growth categories, stakeholders would be able to analyse market potential.
路 Conduct a strategic study of each submarket's growth trends and market contribution.
路 Expansions, agreements, new product launches, and acquisitions in the market are all examples of competitive developments.
路 To create a strategic profile of the main players and analyse their growth plans in depth.
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