Medical Camera Market - Forecasts from 2024 to 2029

The global medical camera market is poised to reach US$3.546 billion in 2029 from US$2.523 billion in 2024 at a CAGR of 7.05%.

Medical cameras are used to capture images and videos for several life science applications that require visual documentation. These cameras are widely used in microscopy, ophthalmology, pathology, endoscopy, lab automation, biomedical research, rheumatology, and other disciplines. They help doctors to make precise and suitable interpretations by ensuring correct diagnosis.

Private funding and investments in healthcare facilities and infrastructure are raising performance benchmarks to ensure better healthcare delivery. Consistent technological advancements, combined with increased use and application of visual technology in surgical procedures, are expected to drive robust market growth throughout the projection period.

Global Medical Camera Market Drivers:

• Technological advancements in medical imaging are driving the global medical camera market growth.

The adoption of visual aids for surgical and other medical practices has further enhanced the overall level of treatment since visual recordings provide far better information regarding disease diagnosis, thereby improving the patient's outcome. The ongoing transition towards early disease detection, followed by investment in developing technologies that would enhance treatment accuracy, has provided growth opportunities for cameras in medical applications.

Companies are investing in product developments and launches that have set a new performance benchmark for visual aids. For instance, in August 2022, Aver Information Inc. launched "MD330U" and "MD330UI," which are medical-grade PTZ cameras designed to address the ongoing trend of telemedicine, live surgery broadcast, and patient monitoring.

• The growing scale of minimally invasive surgical procedures has expanded the overall market scope.

Medical cameras improve the overall disease detection and diagnosis process, which plays an integral role in final decision-making. Likewise, cameras magnify small cavities during surgical procedures, especially during complex, intricate surgeries, which assist surgeons in proceeding. The growing frequency of chronic disease prevalences has accelerated the overall scale of minimally invasive surgeries.

For instance, according to the "2023 ASPS Procedural Statistics" issued by the American Society of Plastic Surgeons in 2023, minimally invasive surgeries experienced a 7% growth over the number of procedures reported in 2022. The same source specified that neuromodulator injections showcased 9% growth in the same year, with the total number of procedures reaching 9 million.

• Growing applicability in dentistry is stimulating market growth.

Cameras provide visual records of a patient's overall health, which improves the treatment process. Due to such high-performance benefits, various medical fields, such as dentistry, require visual assistance for treatment planning. Major countries are witnessing significant growth in dental procedures, fuelled by growing dental hygiene awareness, which has provided new growth prospects for medical cameras.

For instance, the "2023 State of America's Oral Health and Wellness Report" issued by the Delta Dental Plans Association specified that nearly 85% of US parents took their children for preventive dental procedures. Likewise, the FDI World Dental Federation states that nearly 3.5 billion people are affected with oral disease globally, and 2.3 billion people suffer from tooth decay of permanent teeth. Such a high prevalence of oral disease will accelerate the scale of dental procedures, thereby driving the demand for intraoral cameras, which will further augment the overall market growth globally.

Global Medical Camera Market Segment Analysis

• Hospitals will account for a considerable market share.

By end-user, the global medical camera market is divided into hospitals, clinics, ambulatory surgery centers (ASC), and diagnostics centers. The hospitals will account for a significant market share during the given time frame as they include various inter-departments associated with different medical fields such as cardiology, pediatrics, gastrointestinal, neuro, and ENT (Eyes, Nose, Throat). The surgeries in such fields require camera usage. Major economies are investing in expanding hospitals' strength and healthcare infrastructure, adding to the overall segment growth.

Likewise, ambulatory surgery centers (ASC) are anticipated to grow at a constant pace, fuelled by the strategic collaboration between various healthcare firms and organizations to bolster ASC establishments. Additionally, diagnostics centers are poised for positive growth, whereas clinics will account for minimal market share during the given timeframe.

North America is expected to hold a significant share of the global medical camera market during the forecast period.

The global medical camera market, by geography, is analyzed into North America, South America, Europe, Middle East and Africa, and Asia Pacific. The North American region is poised for significant growth. It will account for a considerable market share fuelled by the well-established presence of medical device manufacturers and a robust healthcare infrastructure present in major regional economies, namely the United States and Canada.

Moreover, the widespread development of various chronic and lifestyle-related disorders among the elderly will increase the surgical scale, thereby driving the demand for medical cameras. The regional market players will benefit from ongoing research and development efforts in healthcare that require enhanced camera and imaging systems. Additionally, with the rising prevalence of gastrointestinal disorders that necessitate endoscopies for diagnosis, the United States is likely to maintain its leadership position in the regional market over the forecast period.

Furthermore, the Asia Pacific region will likely witness significant growth throughout the forecast period due to continual improvements in imaging technology and increased awareness regarding prompt diagnosis and treatment. Likewise, Europe will also showcase tremendous growth as major EU nations, namely Germany, France, and the United Kingdom, invest in developing their surgical technologies.

Global Medical Camera Market Restraints:

• High production costs, health risks, and a scarcity of educated medical personnel could hamper the global market's expansion.

The high cost of medical cameras is a major restraint projected to stifle its global market growth throughout the forecast period. Pictures taken with low-megapixel cameras have many flaws, and the image quality suffers when zooming in, cropping, or printing such photographs due to the numerous functionalities connected with high-megapixel cameras. Camera prices vary depending on the number of megapixels, sensor type, and other characteristics. In addition, endoscopy physicians and surgeons are in low supply worldwide.

Global Medical Camera Key Market Developments:

• In November 2023, Cleveland Inc. formed a strategic collaboration with Canon Inc. to develop innovative medical imaging technologies that would enhance overall treatment and diagnostic practices and improve patient outcomes.

The Global Medical Camera market is segmented and analyzed as follows:

By Application

• Endoscopy Procedures
• Dental Procedures
• Ophthalmology
• Others

By Sensor Type

• Charged Couple Device
• Complementary Metal Oxide Semiconductor (CMOS)

By End-User

• Hospitals
• Clinics
• Ambulatory Surgery Centers (ASC)
• Diagnostic Centers

By Geography

• North America
• United States
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• France
• United Kingdom
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• Israel
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• South Korea
• Others