Medical Videoscope Market booming healthcare sector to drive the regional industry share
Pune, Maharashtra, India, February 25 2021 (Wiredrelease) Allied Analytics –:A medical videoscope is an optical medical instrument that helps to screen and execute diagnostic interventions inside the hollow cavities and visceral organs of the body, such as the gastrointestinal (GI) tract, brain, lungs, abdomen, and others. The increase in number of endoscopic procedures due to the growing ailments, such as abdominal pain, ulcers, digestive tract bleeding, abnormal growths in the colon, and other abdominal & gastrointestinal diseases, is expected to boost the market growth.
Medical Videoscope Market Report, published by Allied Market Research, forecasts that the global market was valued at $17,927 million in 2015, and is expected to reach $27,202 million by 2025, supported by a CAGR of 5.9% during the forecast period 2016 – 2025. The flexible videoscopes segment held nearly three-fourths share of the total market in 2015.
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.
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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%.
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.
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.), and XION GmbH.
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