Dublin, March 26, 2021 (GLOBE NEWSWIRE) -- The "Surgical Camera Market By Sensor Type, By Sales Channel, By resolution, By Type, By End-Users And Segment Forecasts, 2016-2027" report has been added to ResearchAndMarkets.com's offering.
The growing adoption of HD & Full HD resolution surgical cameras across medical facilities is propelling market growth.
The Global Surgical Cameras Market stood at USD 2.53 billion in 2019 and is projected to reach USD 5.73 billion, delivering a CAGR of 9.4% through 2027, according to the latest report.
Market growth is driven by the rising prevalence of cancerous and non-cancerous tumors requiring surgeries and escalating demand for minimally invasive surgery techniques. The growth and improvement in healthcare facilities across developing regions are also supporting industry growth.
Surgical cameras are specifically designed to aid surgeons in pursuing surgical procedures after investigating a range of internal conditions in patients' bodies. Surgeons require the highest level of precision during the operation and need to have the best possible view of the areas where the surgery is to be performed. These cameras are highly effective for complex surgeries. Both minimally invasive and open surgeries require high-quality surgical cameras.
The growing prevalence of chronic diseases and the associated need for surgeries is likely to bolster surgical cameras market share through 2027. Moreover, changing surgical patterns, escalating volumes of implementation of the surgical units in medical settings, and favorable government initiatives are some other key factors stimulating industry growth.
Further key findings from the report suggest
- Based on sensor type, the Charged Coupled Devices (CCD) segment is estimated to hold a major chunk of the surgical camera market revenue share over the forecast period on account of extensive product adoption for microsurgeries where high clarity in the vision is required.
- The CMOS sensors technology is poised to witness significant growth through 2027 as they are comparatively cheaper than CCD sensors.
- Based on sales channel, the online retailing segment is expected to register a notable growth rate of 11.1% over the projected timeframe. The robust growth can be attributed to the high retailing of surgical instruments and devices in emerging nations like India and China. Online retailers offer reduced and discounted prices as compared to offline vendors and medical stores due to the non-involvement of distributor chains in the sourcing process.
- In terms of end-use, the ambulatory surgery centers are anticipated to grow at the fastest rate of 12.8% through 2027. The robust growth can be attributed to the more convenient outpatient alternative procedure offered by ambulatory surgery centers as compared to hospital-based inpatient procedures.
- In the regional landscape, the Asia Pacific region is forecast to witness the fastest growth rate of 11.8% over the analysis period on account of the expanding patient pool with surgical needs along with remarkable advancements in the healthcare sectors in countries like India and China.
- Led by the U.S., North America is set to witness a CAGR of 9.7% over the forecast period on account of extensive demand for surgical cameras from ambulatory surgical centers and hospitals & with escalating volumes of surgical procedures annually.
- Europe is estimated to contribute significantly to the surgical camera market share, delivering a notable growth of 9.1% through 2027 on account of the presence of prominent industry players in this region.
Companies Mentioned
- Sony Corporation
- Richard Wolf GmbH
- Olympus Corporation
- Carl Zeiss AG
- Smith & Nephew PLC
- Leica Microsystems
- Allied Vision Technologies GmbH
- Canon Inc.
- Sensor Technologies America Inc.
- Videology Imaging Solutions Inc.
For more information about this report visit https://www.researchandmarkets.com/r/1bmb7f