Medical videoscope can be defined as an equipment employed to
illuminate the body cavities to obtain internal body images in
medical and surgical settings. These real-time images taken by
videoscopes are displayed in front of surgeons during the medical
examination or surgical procedure to enable them to have a clear idea
of the patient’s medical condition. Medical videoscopes enable the
screening and diagnostic intervention of visceral organs and hollow
cavities of the human body including the lungs, the abdomen, the
brain, and the gastrointestinal (GI) tract. Rise in the prevalence of
ailments such as ulcers, abnormal growth of the colon, digestive
tract bleeding, and abdominal pain, which generates the demand for
endoscopic procedures, is one of the primary factors responsible for
growth of the medical videoscopes market.
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The market for medical videoscopes is anticipated to expand
significantly during the forecast period, owing to the rising median
age of the population, growing incidence of ophthalmic and
gastrointestinal diseases, and increasing application of the medical
videoscope technology in the treatment of gastroesophageal reflux
disorder (GERD) and cancer. Technological advancements in
visualization systems include increased angles of view in endoscopes
and incorporation of high-resolution technologies such as
miniaturized endoscopy systems and 3D systems. In addition,
cost-effectiveness of endoscopy procedures in terms of pre- and post-
surgery costs and long duration of hospital stays promotes the growth
of the market. Furthermore, rising demand for minimally invasive
procedures is likely to fuel the medical videoscopes market in the
near future. However, dearth of surgeons and endoscopy physicians
trained in performing endoscopic surgeries and high cost of
endoscopic equipment are factors projected to hamper the market
during the forecast period.
The global medical videoscopes market can be segmented based on
product, application, end-user, and region. Based on product, the
market can be segmented into videoscopes and visualization systems.
The videoscopes segment can be sub-classified into rigid videoscopes
and flexible videoscopes. Rigid videoscopes include urology
endoscopes, laparoscopes, arthroscopes, gynecology endoscopes, and
others. Flexible videoscopes include laryngoscopes, bronchoscopes,
colonoscopies, rhinoscopes, and others. The visualization systems
segment can be sub-divided into endoscopic cameras, video recorders,
wireless displays, video converters, light sources, and others. Based
on application, the market for medical videoscopes can be segmented
into gastrointestinal, gynecology, mediastinoscopy, laryngoscopy,
urology endoscopy, and others. Based on end-user, the market can be
segmented into hospitals, diagnostic centers, clinics, and others.
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Geographically, the global medical videoscopes market can be
segmented into five regions: North America, Latin America, Europe,
Asia Pacific, and Middle East & Africa. North America accounted
for the leading share of the global market in terms of revenue in
2016 and is anticipated to continue its dominance during the forecast
period. Europe is expected to follow North America in the market for
medical videoscopes. However, sluggish growth of the economy in the
region is likely to negatively impact the market in Europe during the
forecast period. The market in Asia Pacific is anticipated to
register a significantly high CAGR from 2017 to 2025, owing to
factors such as increasing health care expenditure by governments,
rising research funding, growing awareness related to endoscopic
procedures among people, surging number of training centers for
endoscopy, and focus on developing endoscopic infrastructure in the
region.
Leading players operating in the global medical videoscopes market
are Stryker Corporation, Fujifilm Holding Corporation, Smith and
Nephew plc, Olympus Corporation, Cook Medical, Medtronic plc, Siemens
Healthcare, KARL STORZ GmbH & Co., KG, Welch Allyn, Inc., Richard
Wolf GmbH, Hoya Corporation, and ConMed Corporation.
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