This report studies the global medical videoscope market over the forecast period of 2014 to 2019. The market is estimated at $13.6 Billion in 2014 and is expected to reach $19.0 Billion by 2019, growing at a CAGR of 7.0% from 2014 to 2019.
The global medical videoscope market is categorized into two broad segments products and applications. Based on products, the global medical videoscope market comprises videoscopes and visualization systems. The videoscopes market is further segmented into rigid and flexible videoscopes.
The market for visualization systems is further segmented into endoscopic cameras, video recorders, video processors, video convertors, camera heads, light sources, wireless displays and monitors, transmitters and receivers, and others visualization devices.
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Over the years, the demand for endoscopy has increased significantly because of the growing preference for minimally invasive surgeries. Apart from being minimally invasive, endoscopic procedures are also cost-effective in terms of pre- and post-operation care costs and the length of stay at hospitals. The technological advancements and breakthroughs in the field of endoscopy are expected to drive the global medical videoscopes market in the coming years. The advancements in technology have 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. The other factors driving the growth of the global medical videoscopes market include the favorable reimbursement scenario in select geographies, the growing aging population, and the increasing prevalence/incidence of diseases that require endoscopy procedures.
North America holds the largest share of the global medical videoscope market, followed by Europe and Asia. However, the growth of the global medical videoscopes market is likely to be focused on the fast-growing Asian region, owing to increased healthcare spending in China; the increasing number of endoscopic surgeries; the improving endoscopic infrastructure in India; the establishment of training centers for endoscopy in India, China, Japan, and others; wide support for endoscopy-related research activities in Japan; and increased patient awareness about minimally invasive surgeries (MIS) in Asia. The market in Rest of World (RoW) which includes Latin America, the Middle East and Africa, and the Pacific countries—is likely to witness steady growth. This is due to the increasing focus of key players on the Middle Eastern countries and Brazil, the increasing number of endoscopy training workshops and investments in Australia, and several government initiatives in New Zealand to develop an efficient workforce for endoscopy services.
The major players in the global Medical Videoscope Market include Olympus Corporation (Japan), Stryker Corporation (U.S.), KARL STORZ GmbH & Co. KG (Germany), Fujifilm Holding Corporation (Japan), Hoya Corporation (Pentax Medical System) (Japan), Richard Wolf GmbH (Germany), Smith and Nephew, Plc (U.K.), ConMed Corporation (U.S.), Welch Allyn, Inc. (U.S.), and XION GmbH (Germany).
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