PUBLISHER: The Business Research Company | PRODUCT CODE: 1426362
PUBLISHER: The Business Research Company | PRODUCT CODE: 1426362
Surgical visualization products encompass medical systems that offer visual assistance and improved visibility during surgical procedures. These products are vital in modern healthcare, providing surgeons and medical professionals with advanced imaging and visualization tools to enhance surgical techniques.
The primary types of surgical visualization products include endoscopic cameras, accessories, light sources, displays and monitors, video recorders and processors, camera heads, and video converters. Endoscopic cameras are medical devices specifically designed to capture high-definition images or videos of internal body structures during endoscopic procedures. They play a crucial role in generating both still and video images within the surgical field during endoscopic surgical procedures. These products are distributed through various channels such as direct tender and third-party distributors. They find application in diverse surgical procedures, including arthroscopy, laparoscopy, ENT endoscopy, obstetrics and gynecology endoscopy, urology endoscopy, gastroscopy, among others. End users of surgical visualization products include hospitals, specialty clinics, diagnostic imaging centers, ambulatory surgical centers, and others.
The surgical visualization products market research report is one of a series of new reports from The Business Research Company that provides surgical visualization products market statistics, including surgical visualization products industry global market size, regional shares, competitors with a surgical visualization products market share, detailed surgical visualization products market segments, market trends and opportunities, and any further data you may need to thrive in the surgical visualization products industry. This surgical visualization products market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The surgical visualization products market size has grown rapidly in recent years. It will grow from $2.33 billion in 2023 to $2.65 billion in 2024 at a compound annual growth rate (CAGR) of 13.7%. The growth observed during the historic period can be attributed to various factors, including an increase in minimally invasive surgeries, a shift towards outpatient procedures, a growing demand for enhanced educational tools for medical professionals, increased patient demand for advanced surgical procedures, and government support and funding initiatives.
The surgical visualization products market size is expected to see rapid growth in the next few years. It will grow to $4.05 billion in 2028 at a compound annual growth rate (CAGR) of 11.1%. The anticipated growth in the forecast period can be attributed to global initiatives in surgical training, the rising geriatric population, an increased emphasis on patient outcomes and safety, global health preparedness efforts, and a focus on value-based healthcare. Major trends expected in the forecast period include the adoption of 4K and 3D visualization technologies, the integration of wireless and portable visualization solutions, advancements in robot-assisted surgical visualization, the incorporation of AI-powered image analysis, and enhancements in connectivity and data integration within surgical settings.
The surgical visualization products market is anticipated to witness growth due to the increasing number of surgeries. Surgery involves employing manual or instrumental techniques to diagnose and treat medical conditions. Surgical visualization products play a pivotal role in modern surgical procedures by offering enhanced visual information and tools, ultimately improving accuracy, safety, and outcomes. An example from the Aesthetic Society in April 2022 indicated a significant rise in surgical operations performed by plastic surgeons, from an average of 220 treatments in 2020 to 320 in 2021. The 54% surge in plastic and cosmetic surgical procedures further highlights the rising trend, thus driving the growth of the surgical visualization products market.
The growth of the surgical visualization products market is propelled by the increasing utilization of endoscopic procedures. Endoscopic procedures involve using an endoscope-a thin, flexible tube equipped with a camera and light source. These procedures rely on surgical visualization products to enhance their success rates, improve patient outcomes, and elevate the capabilities of medical professionals across various surgical specialties. As reported by the Multidisciplinary Digital Publishing Institute in May 2022, around 2 million endoscopic procedures are conducted annually, underscoring the pivotal role of surgical visualization products in these procedures and driving the market's expansion.
The scarcity of skilled workers presents challenges and could impede the growth of the surgical visualization market in the forecast period. This shortage refers to the insufficient availability of qualified personnel possessing the requisite skills to perform specific roles, which could significantly affect surgical visualization, surgical capacity, and patient outcomes. For instance, data from Welcome Leap Inc. in 2023 reveals that in the United States, the existing surgical workforce only meets approximately 75% of the demand in rural and suburban areas. Projections indicate a need for over 16,000 additional surgical specialists within the next decade. This scarcity directly impedes the growth potential of the surgical visualization market.
Major companies within the surgical visualization products market are focusing on innovation to gain a competitive edge. For example, Olympus Corporation introduced the VISERA ELITE III Surgical Visualization Platform in September 2022. This cutting-edge technology integrates various observation modes with fluorescence-guided surgery in 4K resolution, significantly enhancing surgical outcomes. The platform offers multiple observation options to provide comprehensive views of the operative environment, leading to improved surgical results, advancements in endoscopic surgery, and expedited learning curves for medical professionals. Continuous software upgrades are anticipated to further refine surgical imaging technology, enabling customization for diverse surgical requirements while potentially reducing overall costs.
In December 2021, GE Healthcare Technologies Inc., a US-based medical technology company, completed the acquisition of BK Medical Systems Inc. for $1.45 billion. This strategic move significantly enhances GE Healthcare's position in the swiftly growing advanced surgical imaging sector. Furthermore, it expands the scope of the company's $3 billion ultrasound business by incorporating surgical and treatment applications, beyond its conventional role in diagnostics. BK Medical Systems Inc., the acquired entity, specializes in manufacturing surgical visualization products that provide surgeons with real-time visual guidance.
+S59
Major companies operating in the surgical visualization products market report are Johnson & Johnson Inc., Novartis AG, Medtronic Plc, Fujifilm Holdings Corporation, Koninklijke Philips N.V., Stryker Corporation, Boston Scientific Corporation, Carl Zeiss AG, B. Braun Melsungen AG, Alcon Inc., Olympus Corporation, Smith & Nephew Inc., Getinge AB, Karl Storz SE & Co. KG, Arthrex Inc., Integra LifeSciences Corporation, CONMED Corporation, Brainlab AG, NuVasive Inc., Laborie Medical Technologies Inc., Sonoscape Medical Corp., Richard Wolf GmbH, NDS Surgical Imaging LLC, Vantage Endoscopy Inc., Merivaara Corp., Zowietek Electronics Ltd., Medivis Inc., PENTAX Medical Company
North America was the largest region in the surgical visualization products market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the surgical visualization products market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the surgical visualization products market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The surgical visualization products market consists of sales of 3D visualization systems, imaging devices, microscopes, and robotic surgical systems. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Surgical Visualization Products Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on surgical visualization products market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for surgical visualization products? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The surgical visualization products market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.