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December 2024
The global medical videoscope market was estimated at US$ 23.35 billion in 2023 and is projected to grow to US$ 49.86 billion by 2034, rising at a compound annual growth rate (CAGR) of 7.14% from 2024 to 2034. The growing prevalence of surgeries due to occupational hazards, old age, and accidents are increasing the demand for medical videoscopes.
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A videoscope, sometimes known as an electronic scope, is an endoscope that has a built-in CCD (charge-coupled device) video camera. It transforms pictures into electrical impulses that may be shown on a television screen. Videoscopes are in high demand because they are highly useful in assisting surgical procedures. Videoscopes make the surgical process more accurate and reduce the surgery time, which increases patient satisfaction and reduces the chances of infection, which promotes patient safety. Apart from this, during surgery and body examination, it is difficult or impossible for professionals to see complex or hidden areas in the body. Such spots can be seen and accessed using videoscopes. The medical videoscope market is anticipated to grow significantly in the predicted period due to the increasing cases of surgeries.
In many medical specialties, small incision surgery has become commonplace; yet, in periodontal care, it has not gained widespread acceptance. A videoscope has been created to help with minimally invasive surgery (MIS). Some of the challenges with existing viewing techniques have been addressed with the development of a videoscope for use with minimally invasive periodontal operations.
The global shortage of qualified endoscopists is also anticipated to hinder the medical videoscope market's expansion throughout the intended time frame. However, in the near future, the rising expense of endoscopic operations may pose even more of a threat to the market expansion for medical videoscopes.
North America dominated the medical videoscope market in 2023. The market is growing strongly in North America due to technological advancements, advanced healthcare infrastructure, trained professionals, the presence of market key players, a growing population of people with diseases, and government support. The market players in the region continuously make efforts to develop videoscopes with advanced features such as high-quality imaging, integration of AI, integration of machine learning, and other features. The two major countries that contributing to the growth of the medical videoscope market in North America are the U.S. and Canada. The growing cases of chronic conditions and surgeries in these countries demand minimally invasive surgeries.
Asia Pacific is expected to grow at the fastest rate during the forecast period. The medical videoscope market is growing rapidly in Asia Pacific due to the growing geriatric population. This group is prone to various age-related health issues that require surgical attention. The population is more prone to post-surgery infections, due to which they require minimally invasive surgeries. Minimally invasive surgeries use videoscopes to reduce invasion and provide a better view of the surgery area. Apart from this, the governments in the region are taking steps to improve healthcare services. Many key players, after analyzing the potential in countries like China, India, Japan, and South Korea, are investing and collaborating with local companies and launching their branches in these countries.
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By product type, the videoscope segment held the largest share of the medical videoscope market in 2023 and is anticipated to grow at the fastest rate during the forecast period. Several businesses began bringing videoscope technology to the market with the promise of improved results. The majority of top medical professionals and emergency response teams now choose to intubate patients using videoscopes, which are part of their medical toolkit. A camera and screen are included so that medical personnel may see a magnified image in real-time.
By application, the gastrointestinal endoscopy segment held the largest market share in 2023. The discipline of gastrointestinal endoscopy is one that is developing quickly. Particularly in colonoscopy and endoscopic resection, endoscopy techniques, as well as the tools and platforms, are constantly evolving. Between 40% and 60% of the practices of the majority of rural surgeons involve gastrointestinal endoscopy. Similar to minimally invasive surgery, endoscopic techniques and capabilities have been enhanced in recent years by technology advancements.
By end-use, the hospitals segment held the major share of the medical videoscope market in 2023. Endoscopy requires advanced devices and skilled professionals. Hospitals provide all the necessary resources needed, including videoscopes. Patients with various health issues get admitted to hospitals for diagnosis and treatment. Apart from this, hospitals have skilled professionals who provide multidisciplinary care, which is why people prefer hospitals over other health institutions.
By Product Type
By Application
By End-use
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December 2024
December 2024
December 2024
December 2024
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