The Global Medical Camera Market Continues To Grow Owing To the Increased Cases of Patients Needing Endoscopy and Advancements of Technology in the Healthcare Sector

 

Medical cameras are now an important part of everyday life and people use them to monitor their health. Medical imaging is an important tool for tracking patient health and diagnosing diseases. Data collected by these devices helps in the decision-making process of treating the disease or simply confirming a diagnosis. The need for high quality digital medical imaging systems is increasing due to the rising number of patients requiring specialized treatment and diagnoses. There are many types of medical cameras available in the market. One of the most popular types is the microscopy camera. This uses light energy collected by special lenses to create images on the microscopic level.  Other medical imaging sensors are the CCD and CMOS sensors. The CMOS sensor is used to capture color images at high speed and with very high resolution and is, therefore, more cost-effective than other sensors. Medical CCD Cameras is compact, flexible, cost-effective, and easy to use and maintain. They are also ideal for use in compact medical imaging devices because they do not require any additional storage space.

Market Dynamics                                               

The main driving factors influencing the growth of the medical market are the development and adaptation of new technology in medical imaging and the increasing growth of research and developments related to health sectors. Images with high resolution are results of medical cameras that are designed with sophisticated technologies. Governmental agencies have also increased the funding for the development of medical equipment and healthcare infrastructure, and this is enhancing the market growth. For instance, according to U.S. National Health Expenditure Accounts (NHEA), the federal government has spent approximately US$ 1.2 trillion in the financial year 2019 and the income tax expenditures for health care were US$ 234 billion. Moreover, the medical camera market is also expanding owing to the application of medical cameras in various medical processes related to endoscopies such as laryngoscopy, bronchoscopy, colonoscopy, and gastroscopy.

However, the after-effects of endoscopy is the major restraining factor hindering the growth of the medical camera market. Most of the endoscopy processes performed in Europe and the U.S. involves sedating the patients, owing to which few major complications can arise. For instance, New England Journal of Medicine (NEJM), in January 2018, stated that owing to improper sedation in Germany, approximately 33% of patients developed minor respiratory complications while 6% developed major respiratory problems.

This market is distributed in five regions that include North America, Europe, Asia-Pacific, Middle East, and Africa, and Latin America. Among these, North America is estimated to hold a bigger share of the medical camera market owing to the prevalence of gastrointestinal diseases that require endoscopies for the treatment. According to NEJM, in 2018 around 18 million endoscopies were done in the United States, which includes 11 million colonoscopies. The market in the Asia Pacific is estimated to witness significant growth on the market owing to the presence of key players in the region.

Competitive Analysis

Key players operating in the global medical camera market include Canon Corporation, Carestream Health, Sony Corporation, Hamamatsu Photonics K.K., Stryker Corporation, and Olympus Corporation.

On October 22, 2020, Casio Computer Co., Ltd. announced the launch of its medical camera at MEDICA 2020, the world's largest exhibition of medical devices.