Medical videoscope can be defined as an
equipment employed to illuminate the body cavities to obtain internal
body images in medical and surgical settings. These real-time images
taken by videoscopes are displayed in front of surgeons during the
medical examination or surgical procedure to enable them to have a clear
idea of the patient’s medical condition. Medical videoscopes enable the
screening and diagnostic intervention of visceral organs and hollow
cavities of the human body including the lungs, the abdomen, the brain,
and the gastrointestinal (GI) tract. Rise in the prevalence of ailments
such as ulcers, abnormal growth of the colon, digestive tract bleeding,
and abdominal pain, which generates the demand for endoscopic
procedures, is one of the primary factors responsible for growth of the
medical videoscopes market.
The market for medical videoscopes is
anticipated to expand significantly during the forecast period, owing to
the rising median age of the population, growing incidence of
ophthalmic and gastrointestinal diseases, and increasing application of
the medical videoscope technology in the treatment of gastroesophageal
reflux disorder (GERD) and cancer. Technological advancements in
visualization systems include increased angles of view in endoscopes and
incorporation of high-resolution technologies such as miniaturized
endoscopy systems and 3D systems. In addition, cost-effectiveness of
endoscopy procedures in terms of pre- and post- surgery costs and long
duration of hospital stays promotes the growth of the market.
Furthermore, rising demand for minimally invasive procedures is likely
to fuel the medical videoscopes market in the near future. However,
dearth of surgeons and endoscopy physicians trained in performing
endoscopic surgeries and high cost of endoscopic equipment are factors
projected to hamper the market during the forecast period.
The global medical videoscopes market can
be segmented based on product, application, end-user, and region. Based
on product, the market can be segmented into videoscopes and
visualization systems. The videoscopes segment can be sub-classified
into rigid videoscopes and flexible videoscopes. Rigid videoscopes
include urology endoscopes, laparoscopes, arthroscopes, gynecology
endoscopes, and others. Flexible videoscopes include laryngoscopes,
bronchoscopes, colonoscopies, rhinoscopes, and others. The visualization
systems segment can be sub-divided into endoscopic cameras, video
recorders, wireless displays, video converters, light sources, and
others. Based on application, the market for medical videoscopes can be
segmented into gastrointestinal, gynecology, mediastinoscopy,
laryngoscopy, urology endoscopy, and others. Based on end-user, the
market can be segmented into hospitals, diagnostic centers, clinics, and
others.
Geographically, the global medical
videoscopes market can be segmented into five regions: North America,
Latin America, Europe, Asia Pacific, and Middle East & Africa. North
America accounted for the leading share of the global market in terms
of revenue in 2016 and is anticipated to continue its dominance during
the forecast period. Europe is expected to follow North America in the
market for medical videoscopes. However, sluggish growth of the economy
in the region is likely to negatively impact the market in Europe during
the forecast period. The market in Asia Pacific is anticipated to
register a significantly high CAGR from 2017 to 2025, owing to factors
such as increasing health care expenditure by governments, rising
research funding, growing awareness related to endoscopic procedures
among people, surging number of training centers for endoscopy, and
focus on developing endoscopic infrastructure in the region.
Leading players operating in the global
medical videoscopes market are Stryker Corporation, Fujifilm Holding
Corporation, Smith and Nephew plc, Olympus Corporation, Cook Medical,
Medtronic plc, Siemens Healthcare, KARL STORZ GmbH & Co., KG, Welch
Allyn, Inc., Richard Wolf GmbH, Hoya Corporation, and ConMed
Corporation.
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