Towards Healthcare
Medical Videoscope Market Size and Cross-Border Services

Medical Videoscope Market to Touch USD 49.86 Billion by 2034

A videoscope, or electronic scope, is an endoscope with a built-in camera that converts images into electrical signals shown on a screen. These devices enhance surgery accuracy, reduce time, improve patient safety, and help access hard-to-reach areas in the body. The medical videoscope market is growing due to rising surgery cases.

Medical Videoscope Market Companies, Segmental and Regional Growth

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.

Medical Videoscope Market Revenue 2023 - 2034

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Market Overview

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 May 2024, MedInTech Inc., a medical smart endoscope company from South Korea, announced that it had secured 20 billion won ($14.6 million) series B financing.
  • In January 2023, in addition to the current investors, the Development Bank of Wales and a group of investors, medical device company IQ Endoscopes, raised £5.2 million in a round-headed by BGF, one of the biggest and most seasoned investors in the UK and Ireland.
  • In April 2022, with the help of current investors Globis Capital Partners, World Innovation Lab, and Incubate Fund, as well as Masayoshi Son's SoftBank Vision Fund 2, the Japanese medtech company AI Medical Service has received 8 billion yen ($70 million) in a Series C investment round. AIM is developing an AI decision assistance tool for endoscopists.

Medical Videoscope Market Opportunity: Minimally Invasive 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.

Medical Videoscope Market Challenge: Lack of Trained Endoscopists

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.

Regional Insights

Technological Advancements Drive Market in North America

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.

Geriatric Population Drives the Market in Asia Pacific

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.

For instance,

  • In July 2024, the local subsidiary of the Japan-based healthcare company FUJIFILM announced the opening of a new endoscopy facility in Mumbai as part of its efforts to increase its presence in the Indian market. This new facility will provide faster turnaround times and better service delivery throughout India by focusing on the speedy repair of its high-end processors, gastroscopes, and bronchoscopes.

Segmental Insights

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.

Top Companies in the Medical Videoscope Market

  • VIMEX ENDOSCOPY
  • SCHINDLER ENDOSKOPIE TECHNOLOGIE
  • ProSurg
  • Optim
  • OPTEC Endoscopy Systems
  • NeoScope
  • Medtronic
  • Machida Endoscope
  • LABORIE
  • IntroMedic
  • HUGER Medical Instruments
  • GI-View
  • Era Endoscopy
  • Ecleris
  • Cogentix Medical
  • Clarus Medical
  • Jinshan Science & Technology
  • Check-Cap
  • B. Braun Melsungen
  • ATMOS MedizinTechnik
  • ASAP endoscopic products
  • Arthrex
  • Ambu
  • XION GMBH
  • Welch Allyn, Inc.
  • Conmed Corporation
  • Smith & Nephew PLC
  • Richard Wolf GMBH
  • Hoya Corporation
  • Fujifilm Holding Corporation
  • Karl Storz GMBH & Co.KG
  • Stryker Corporation
  • Olympus Corporation

Medical Videoscope Market Companies

Recent Announcements by Industry Leaders

  • In August 2024, in order to provide endoscopists and surgeons full solutions, KARL STORZ United States, a world leader in Operating Room (OR) integration, has partnered with FUJIFILM Healthcare Americas Corporation (Fujifilm), a top supplier of endoscopic imaging and endosurgical technologies.
  • In January 2024, a partnership to work together on Endoscopic Ultrasound Systems was announced by Olympus Corporation (Olympus) and Canon Medical Systems Corporation (Canon Medical).

Recent Developments

  • In March 2024, at the esteemed Heli Expo in Anaheim, California, USA, Borescopes, a pioneer in borescope technology, is prepared to introduce the cutting-edge NEW USAVSJ-4-1500 portable videoscope.
  • In October 2023, a new tiny borescope was introduced by USA Borescopes. A variety of characteristics on the apparatus enable users to view within some of the most difficult examination spaces.

Segments Covered in the Report

By Product Type

  • Videoscope
    • Rigid videoscope
      • Cystoscopes
      • Laparoscopes
      • Arthroscopes
      • Neuroendocopes
      • Urology endoscopes
      • OB/GN endoscopes
      • Other rigid videoscopes
    • Flexible videoscopes
      • Colonoscopes
      • Bronchoscopes
      • Gastroscopes
      • Laryngoscopes
      • Rhinoscopes
      • Duodenoscopes
      • Other flexible videoscopes
  • Visualization systems
    • Endoscopy cameras
    • Camera heads
    • Wireless display & monitors
    • Light sources
    • Video recorders
    • Video processors & video convertors
    • Transmitters & receivers
    • Other visualization systems

By Application

  • Arthroscopy
  • Bronchoscopy
  • Laparoscopy
  • Gastrointestinal endoscopy
  • Neuroendoscopy
  • Obstetrics/Gynecology endoscopy
  • Urology endoscopy
  • Other applications

By End-use

  • Hospitals
  • Ambulatory surgical centers
  • Other end-users

By Region

  • North America
    • U.S.
    • Canada
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Thailand
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Sweden
    • Denmark
    • Norway
  • Latin America
    • Brazil
    • Mexico
    • Argentina
  • Middle East and Africa (MEA)
    • South Africa
    • UAE
    • Saudi Arabia
    • Kuwait
  • Insight Code: 5329
  • No. of Pages: 150+
  • Format: PDF/PPT/Excel
  • Published: November 2024
  • Report Covered: [Revenue + Volume]
  • Historical Year: 2021-2022
  • Base Year: 2023
  • Estimated Years: 2024-2033

About The Author

Deepa has certified the degree of Master’s in Pharmacy in the Pharmaceutical Quality Assurance department from Dr D.Y. Patil College of Pharmacy. Her research is focused on the healthcare industry. She is the author or co-author of four Review Articles, which include Solid dispersion a strategic method for poorly soluble drugs and solubility improvement techniques for poorly soluble drugs, Herbal Drugs Used In Treatment Of Cataracts, Nano sponges And Their Application in Cancer Prevention and Ayurvedic Remedies of Peptic ulcer. She has also published a Research Article on the Formulation and Evaluation of Mucoadhesive Tablets of Miconazole cocrystal which was published in GIS Science Journal Volume 9 Issue 8. Her passion for secondary research and desire to take on the challenge of solving unresolved issues is making her flourish is the in the research sector.

FAQ's

Videoscopes, often referred to as video borescopes, offer a clear image of examination regions that are not accessible using conventional techniques.

Depending on the treatment type, an endoscope usually takes between thirty minutes and two hours.

Ministry of Health and Family Welfare, Government of India, National Institutes of Health, FDA, WHO, PIB, CDC.