Medical Videoscope Market Anticipated to Grow at an Impressive Rate during the Period

The market for the Medical Videoscope Market is expected to reach $ 17.92 billion in 2015 and reach $ 272.22 billion by 2022 at an annual average of 5.9% over the 2016-2022 forecast period. The flexible video scope sector accounted for about three-quarters of the total market in 2015

Medical Vision Scopes are optical medical devices that help to screen and perform diagnostic interventions within hollow cavities and internal organs such as the gastrointestinal tract (GI), brain, lungs, abdomen, and other organs. Increased number of endoscopic procedures due to increased abdominal pain, ulcers, gut bleeding, abnormal growth of the large intestine and other abdominal and gastrointestinal diseases are expected to promote market growth.

The major factors that drive the global medical videoscope market are technological advancements in the visualization systems (3D cameras to improve image and video quality), rise in preference for minimal invasive surgeries, and increase in endoscopy procedures. In addition, the unmet medical demands in developing countries and miniaturization of videoscopic devices offer lucrative opportunities for growth of this market. However, lack of skilled professionals and high costs associated with medical videoscopes restrain the market growth.

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The major companies profiled in the report include

·         Conmed Corporation

·         Fujifilm Holdings Corporation

·         HOYA Corporation (Pentax Medical)

·         KARL STORZ GmbH & Co. KG

·         Olympus Corporation

·         Richard Wolf GmbH

·         Smith & Nephew Plc

·         Stryker Corporation

·         Hill Rom Holding Inc. (Welch Allen Inc.)

·         XION GmbH.

Endoscopy cameras is anticipated to dominate the visualization & documentation segment, accounting for over one-fifth of total share in 2015. This is attributed to the incorporation of advanced technologies in endoscopy cameras such as ultra-high definition and 4-light emitting diode (LED) multi-light technology, which enhances the video quality.

Laparoscopy segment dominated the application segment with one-third share, in 2015 and is expected to grow at a CAGR of 6.0%. In response to the growing obese population, minimal invasive surgeries, such as laparoscopy, are currently in high demand globally, especially used for weight reduction (bariatric surgeries). Laparoscopy device companies are inclined towards manufacturing robot-assisted endoscopy devices and sophisticated endoscopy cameras with 4 LED multi-light technology to ease the overall procedure.

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Key findings of Medical Videoscope Market:

·         Capsule endoscopy is projected to be grow at the highest CAGR from 2016 to 2022.

·         Hospital was the highest revenue-generating end user segment in 2015, and is expected to continue its dominance ahead as well.

·         North America dominated the global medical videoscope market, and is projected to grow at a CAGR of 5.5%.

·         Laparoscopy application occupied nearly one-third of the total market in 2015.

·         India is the fastest growing country market in Asia-Pacific region, registering a CAGR of 11.0%.

In 2015, Asia-Pacific and LAMEA collectively accounted for one-third of the total medical videoscope market, and are expected to continue this trend due to rise in geriatric population & targeted diseases, specifically in China, India, and other developing economies. Rise in disposable income, improvement in healthcare funding, and high populace demanding endoscopic procedures drive the growth of the medical videoscope market in Asia-Pacific.

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