The Global Medical Videoscope Market size is estimated to be USD 22.36 billion in 2019 and is predicted to reach USD 44.14 billion by 2030 with a CAGR of 5.7% from 2020-2030. Medical Videoscope are the medical devices consist of small camera at the tip with optical fibers. There allows to carry out the diagnostic procedures of hollow cavities by interventions. These devices are generally used for the diagnosis of GI tract, abdomen, colon and various other organs and also help the effective treatment. During the diagnostic procedures images of different section were taken and presented to the healthcare professional for further study and treatment.
Market Dynamics and Trends
The improving and modernizing healthcare infrastructure coupled with increased prevalence of various diseases. Furthermore, increase the number of minimally invasive procedures coupled with increased demand of better diagnosis and technological advancement are further expected to promote the growth of medical videoscope market.
The other factors include increase in disposable income with increased awareness coupled with cost effective and require short hospital stay and fast recovery are also expected fuel the market growth. However, lack of reimbursement policies and lack of trained professionals are expected to hamper the growth of medical videoscope market. Moreover, increased investments, product launches and strategic collaborations in the market are expected to create lucrative opportunities in the medical videoscope market over the forecast period.
Market Segmentations and Scope of the Study:
The global medical videoscope market share is analyzed on the basis of product type, application, end user and geography. On the basis of product type, the market is segmented into Videoscope and Visualization & Documentation Systems. The Videoscope are sub segmented into Videoscopy Devices, Capsule Endoscopy and Robot-Assisted Endoscopy. The Videoscopy Devices are further sub segmented into Flexibility and type. The flexibility segmented in further sub segmented into Flexible Videoscopes and Rigid Videoscopes. The type segment is further sub segmented into Cystoscopes, Neuroendoscopes, Urology Endoscopes, Arthroscopes, Laparoscopes, OB/GN Endoscopes, Otoscopes, Laryngoscopes, Nasopharyngoscopes, Rhinoscopes, Gastroscopes, Colonoscopes, Bronchoscopes, Duodenoscopes, Sigmoidoscopes, and Other. The Visualization & Documentation Systems is further segmented into Light Sources, Camera Heads, Wireless Display & Monitors, Endoscopy Cameras, Carts, Digital Documentation Systems, Video Processors & Video Convertors, Transmitters & Receivers, and Others. On the basis of application, the market is divided into Bronchoscopy, Arthroscopy, Laparoscopy, Urology Endoscopy, Neuroendoscopy, Gastrointestinal Endoscopy, Obstetrics/Gynecology Endoscopy, ENT Endoscopy, and Others. Based on end user, the market is further fragmented into hospital, clinics and others. Geographic breakdown and analysis of each of the aforesaid segments includes regions comprising North America, Europe, Asia-Pacific, and RoW.
North America denotes the increased adoption of the medical videoscope and is anticipated hold the highest market share during the forecast period. The other contributing growth factors of medical videoscope include presence of well-established healthcare amenities, increase in minimally invasive procedures, technological advancements and increase in geriatric population.
Asia Pacific is expected to rapid growth with constant increase in market share. Due to the increasing accessibility to healthcare facilities in the region, increasing medical tourism, increased demand of better diagnosis and treatment with short hospital stay and fast recovery are further expected to enhance the growth of medical videoscope market.
The medical videoscope market, which is highly competitive, consists of various market players. Some of the major market players include Fujifilm Holdings Corporation, Conmed Corporation, KARL STORZ GmbH & Co. KG, HOYA Corporation (Pentax Medical), Richard Wolf GmbH, Olympus Corporation, Stryker Corporation, Smith & Nephew, Plc, XION GmbH and Hill Rom Holding, Inc. (Welch Allen, Inc.), among others.
Over the period of time there have been various developments taken place in the market and also expected to takes place in near future. For instance, in March 2019, Olympus Corporation has announced that “PowerSpiral” will be launched in Europe and parts of the Asia-Pacific region, including Hong Kong and India. The system uses a motorized rotating attachment (“overtube”, DPST-1) that mounts on the scope and gently grips onto the mucosa to help the endoscope advance deep into the small intestine. Going forward, “PowerSpiral” will additionally launch in the United States and other parts of the Asia-Pacific region as regulatory procedures are completed.
- The medical videoscope market report provides the quantitative analysis of the current market and estimations through 2020-2030 that assists in identifying the prevailing market opportunities to capitalize on.
- The study comprises a deep dive analysis of the medical videoscope market trend including the current and future trends for depicting the prevalent investment pockets in the market.
- The information related to key drivers, restraints and opportunities and their impact on the medical videoscope market is provided in the report.
- The competitive analysis of the market players along with their market share in the global medical videoscope market.
- The SWOT analysis and Porters Five Forces model is elaborated in the study.
- Value chain analysis in the market study provides a clear picture of the stakeholders’ roles.
KEY MARKET SEGMENTS:
- Global Medical Videoscope market – By Product Type
- Videoscopy Devices
- By Flexibility
- Flexible Videoscopes
- Rigid Videoscopes
- By Type
- Urology Endoscopes
- OB/GN Endoscopes
- By Flexibility
- Capsule Endoscopy
- Robot-Assisted Endoscopy
- Videoscopy Devices
- Visualization & Documentation Systems
- Light Sources
- Camera Heads
- Wireless Display & Monitors
- Endoscopy Cameras
- Digital Documentation Systems
- Video Processors & Video Convertors
- Transmitters & Receivers
- Global Medical Videoscope market – By Application
- Urology Endoscopy
- Gastrointestinal Endoscopy
- Obstetrics/Gynecology Endoscopy
- ENT Endoscopy
- Global Medical Videoscope market –By End User
- Global Medical Videoscope market –By Geography
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Saudi Arabia
- South Africa
- Rest of RoW
- North America