Fact.MR’s medical videoscopes industry analysis shows that the global market was valued at US$ 22 Bn in 2020, and is projected to top US$ 30 Bn by 2031, expanding at a CAGR of 5%. Demand for medical videoscopes for use in bronchoscopy is projected to expand at a CAGR of 6% across the assessment period, with that for use in arthroscopy is set to increase at 4%.
Key Points Covered in Medical Videoscopes Industry Survey:
- Market Estimates and Forecasts (2016-2031)
- Key Drivers and Restraints Shaping Market Growth
- Segment-wise, Country-wise and Region-wise Analysis
- Competition Mapping and Benchmarking
- Market Share Analysis
- COVID-19 Impact on Demand for Medical Videoscopes and How to Navigate
- Recommendation on Key Winning Strategies
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Sales Analysis of Medical Videoscopes from 2016 to 2020 Vs Demand Outlook for 2021 to 2031
As per Fact.MR - a market research and competitive intelligence provider, the global market for medical videoscopes was valued at US$ 15 Bn in 2016 and is anticipated to expand at a CAGR of 5% to top US$ 30 Bn by 2031.
Over the years, demand for medical videoscopes has increased significantly owing to the growing preference for minimally invasive surgeries. Apart from being minimally invasive, medical videoscopic procedures are cost-effective in terms of pre- and post-operation care costs and length of stay at hospitals.
Technological advancements and breakthroughs in the field of endoscopy are expected to drive demand for medical videoscopes over the coming years. Advancements in technology have also resulted in several improvisations, including increased angles in the field of view in endoscopes, reduced outer diameters of scopes, endoscopy systems that are integrated with high-resolution technologies such as 3D systems, and miniaturized endoscopy systems.
Other factors driving sales of medical videoscopes include favourable reimbursement scenario in selected geographies and increasing prevalence of diseases requiring endoscopy procedures.
Another pivotal factor that is driving the growth of the global market for medical videoscopes is rapid rise in the number of elderly people who are prone to orthopaedic, gastrointestinal, and ophthalmic diseases, as well as cancer. Endoscopic procedures are increasingly being used for the treatment of a number of common major disorders such as cancer, obesity, and gastroesophageal reflux disorder (GERD).
What are the Key Opportunities Medical Videoscope Manufactures Can Look Forward To?
Growing patient preference for minimally invasive surgeries, increasing technological advancements for miniaturization of medical videoscopes, and a growing aging population globally are factors driving the global market. Increasing demand for medical videoscope services around the globe for surgeries is a key opportunity for manufacturers.
The visualization system market is foreseen to pose lucrative growth attributed to the application in a number of endoscopic procedures and in all categories of video assisted procedures such as bariatric, thoracic, laparoscopic, general endoscopic, and posterior/anterior spinal procedures.
Increasing cost effectiveness of endoscopic procedures in terms of hospitals stay and post and pre operation care costs are further expected to fuel market demand.
Moreover, increasing number of technological advancements in visualization systems such as evolution of large handheld endoscopic cameras into thin single chip ultra-fine cameras and production of 360O 3D images as compared to the older two-dimensional imaging cameras are nudging growth opportunities for manufacturers.
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What are the Restraints being Encountered by Medical Videoscopes Providers?
Globally, there is a shortage of specialists (endoscopy physicians and surgeons) who perform endoscopic surgeries. Moreover, investment costs for medical videoscope equipment are extremely high for most hospitals in developing countries.
Shortage of professionals and high costs of medical videoscopes are acting as restraining factors for the growth of the market.
Which Region Offers the Largest Opportunity for Medical Videoscope Providers?
North America accounts for the largest share of revenue of close to 30% for medical videoscopes, and is expected to grow at a significant rate over the next ten years. This expected growth is attributed to increasing number of surgeries and procedures employing videoscopes and introduction of high-resolution technologies and high-definition 3D technology.
Various other factors that are driving the market are growing median age of the population as well as growing incidences of ophthalmic, orthopaedic, and gastrointestinal diseases, as well as cancer in the region.
The Asia Pacific market is developing at a rapid pace owing to the presence of a large population base, increasing healthcare expenditure by governments, rising research funding for better treatments of people, and growing awareness related to videoscope procedures among patients.
Europe is also expected to witness significant growth during the forecast period owing to rising healthcare expenditure as well as increased life expectancy and aging population in the region.
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How is the U.S. Emerging as a Lucrative Market for Medical Videoscope Providers?
The market for medical videoscopes in the U.S. was estimated at US$ 6 Bn in 2020. Factors attributing to market growth include increasing number of neurological disorders and rising adoption of minimally invasive surgeries.
According to a survey conducted in the U.S. by the National Centre for Health Statistics, approximately 3.5 million laparoscopic procedures were performed in the U.S. in 2017. This indicates that endoscopic procedures are performed widely across the country.
What is the Global Demand Outlook for Medical Videoscopes in Bronchoscopy?
Global demand for medical videoscopes in bronchoscopy is projected to top US$ 3 Bn by 2031, increasing at a CAGR of 6% during the assessment period.
Growth is primarily driven by growing hospital investments in bronchoscopy facilities, increasing demand for bronchoscopy owing to rising prevalence of respiratory diseases, growing demand for minimally invasive surgery, and technological advancements in the field of bronchoscopy.
Why Has Demand for Medical Videoscopes in Arthroscopy Grown Tremendously in Recent Years?
Arthroscopy is a minimally invasive surgical procedure that helps surgeons examine and treat bone and joint related problems using an arthroscope and other arthroscopy devices (such as visualization systems, arthroscopic implants, power shaver systems, radiofrequency devices, and others).
They are essential to diagnose and treat osteoarthritis, rheumatoid arthritis, carpal tunnel syndrome, bone tumour, and others. The market for arthroscopy devices has grown tremendously in the recent years due to increase in number of sport injuries, rapid ageing population and increase in patient preference for minimally invasive surgeries.
Owing to these factors, demand for use in arthroscopy is expected to expand at a CAGR of 4% over the coming ten years.
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Key players in the industry are adopting acquisitions, expansion, product development, and agreements as their business strategies to sustain the competition and increase their market share.
Various companies are also focusing on organic growth strategies such as product launches, product approvals, and others such as patents and events. These activities have paved the way for expansion of business and customer base of market players.
Medical Videoscopes Market Report Scope
Historical Data Available for
|US$ Mn for Value & ‘000 Units for Volume|
Key Regions Covered
Key Countries Covered
Key Market Segments Covered
Key Companies Profiled
Available upon Request
Key Segments Covered in Medical Videoscopes Industry Research
- Flexible Medical Videoscopes
- Rigid Medical Videoscopes
- Urology Endoscopes
- OB/GN Endoscopes
By End User
- Medical Videoscopes for Hospitals
- Medical Videoscopes for Clinics
Medical Videoscopes Market- Scope of Report
A recent study by Fact.MR on the medical videoscopes market offers a 10-year forecast for 2021 to 2031. The study analyses crucial trends that are currently determining the growth of the market. This report explicates on vital dynamics, such as the drivers, restraints, and opportunities for key market players along with key stakeholders as well as emerging players associated with offering medical videoscopes.
The study also provides the dynamics that are responsible for influencing the future status of the market over the forecast period. A detailed assessment of value chain analysis, business execution, cost structure analysis, and supply chain analysis across regional markets has been covered in the report.
A list of prominent companies manufacturing medical videoscopes, along with their product portfolios, key strategies, and SWOT Analysis, enhances the reliability of this comprehensive research study.
The study offers comprehensive analysis on diverse features, including revenue growth, and revenue generation across the globe.
A comprehensive estimate on the market has been provided through an optimistic scenario as well as a conservative scenario, taking into account the revenue of medical videoscopes market during the forecast period.
Key Questions Answered in Report
- Which are the most lucrative markets for medical videoscopes?
- Which factors will impact the growth of the market?
- How will changing trends impact the strategies of market players?
- How can market players capture the low-hanging opportunities across regions?
- Which companies are leading the medical videoscopes industry?
- What are the winning strategies of stakeholders in the market?
Market Size Evaluation
The market has been analysed for each market segment in terms of volume (`000units), and value (US$ Mn).
Market estimates at global and regional levels for medical videoscopes are available in terms of “US$ Mn” for value and in ‘’’000 units for volume. A Y-o-Y growth contrast on prominent market segments, along with market attractiveness evaluation, has been incorporated in the report. Furthermore, absolute dollar opportunity analysis of all the segments adds prominence to the report. Absolute dollar opportunity plays a crucial role in assessing the level of opportunity that a manufacturer/distributor can look to achieve, along with identifying potential resources, considering the revenue perspective in the global medical videoscopes market.
Inspected Assessment on Regional Segments
Key sections have been elaborated in the report, which have helped deliver projections on regional markets. These chapters include regional macros (political, economic and business environment outlook), which are expected to have a momentous influence on the growth of the market during the forecast period.
Country-specific valuation on revenue for medical videoscopes have been offered for each regional market, along with market scope estimates and forecasts, and impact analysis of the dynamics of prominence in regions and countries. For all regional markets, Y-o-Y growth estimates have also been incorporated in the report.
Detailed breakup in terms of value for key countries has also been included in the report.
The report sheds light on leading manufacturers of medical videoscopes, along with their detailed profiles. Essential and up-to-date data related to market performers who are principally engaged in offering medical videoscopes have been brought with the help of a detailed dashboard view. Market share analysis and comparison of prominent players provided in the report permits report readers to take preemptive steps in advancing their businesses.
Company profiles have been included in the report, which include essentials such as product portfolios and key strategies, along with all-inclusive SWOT analysis on each player. Company presence is mapped and presented through a matrix for all the prominent players, thus providing readers with actionable insights, which helps in thoughtfully presenting the market status, and predicting the competition level in the medical videoscopes market.
- FAQs -
The global medical videoscopes market topped US$ 22 Bn in 2020, and is expected to reach a valuation of over US$ 30 Bn by 2031.
Key factors driving demand for medical videoscopes are rise in patient preference towards non-invasive procedures and technological advancements in the field of endoscopy.
Major players operating in the global market include B. Braun Melsungen AG, Cook Medical, Arthrex Inc., Frontier Healthcare, and Minntech Corporation (Subsidiary of Cantel Medical Corp.).
North America is a lucrative market for medical videoscope manufacturers, holding approximately 30% of the global market share.
Factors such as huge population base and increasing spending by governments on public health will drive demand for medical videoscopes in Asia Pacific.
Global demand for medical videoscopes in bronchoscopy is expected to surge at a CARG of 6% over the coming ten years.
Worldwide demand for medical videoscopes for use in arthroscopy is expected to increase at a CAGR of 4% through 2031.
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Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
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Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
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