An endoscope called a medical videoscope takes pictures of the inside of the body using a video camera. They are employed in the diagnosis and treatment of numerous illnesses. Medical videoscopes come in a wide range of varieties, each with a unique set of features and advantages.
Using these videoscopes, the digestive system, including the oesophagus, stomach, and intestines, can be examined. They can be used to identify and treat illnesses like Crohn’s disease, ulcers, and gastroesophageal reflux disease (GERD).
Videoscopes for the respiratory system are used to look at the lungs and airways. They can be used to identify and treat diseases like lung cancer, emphysema, and asthma. Videoscopes for the cardiovascular system are used to look at the heart and blood arteries. Conditions like heart disease and stroke can be identified and treated with them. Videoscopes for urology are used to look at the kidneys, bladder, and ureters as well as the rest of the urinary tract. They can be used to identify and treat ailments like kidney stones and urinary tract infections.
The female reproductive tract, which includes the uterus, ovaries, and fallopian tubes, is examined with gynaecological videoscopes. They can be used to identify and handle issues such ovarian cysts, uterine fibroids, and infertility. A range of medical disorders can be diagnosed and treated with the help of medical videoscopes. Consult your doctor to determine whether a videoscope procedure would be beneficial for you if you believe you might benefit from one.
|Medical Videoscope Market Report Scope and Segmentation|
|UNIT||Value (USD Million/Billion)|
|BY REGION||North America, Europe, Asia Pacific, Latin America, Middle East and Africa|
Restraints on the medical videoscope market
In the upcoming years, the market for medical videoscopes is anticipated to expand dramatically. There are some limitations, though, that could prevent the market from expanding. The high cost of medical videoscopes is the first barrier. Because of its high price, not all hospitals and clinics may be able to buy these equipment. This might prevent more people from using medical videoscopes, especially in developing nations.
The absence of trained personnel is another barrier. Medical videoscopes are extremely complicated instruments that must be operated by qualified professionals. This would once more restrict their use in many clinics and hospitals. Last but not least, using medical videoscopes carries a danger of patient infection. This is because the internal organs of the patient are exposed when these gadgets are placed into their bodies. If the equipment is not correctly disinfected, there is a risk of infection.
Despite these limitations, it is anticipated that the medical videoscope industry would expand greatly over the next few years. The rising desire for minimally invasive procedures and the prevalence of chronic diseases will be the main drivers of this growth.
Key Trends in the Medical Videoscope Market
The medical sector has seen a rollercoaster of a year in 2020 The pandemic has compelled healthcare organisations to alter their business practises. The increased use of technology, notably medical videoscopes, has been one of the biggest advances.
The internal organs and tissues of the body can be seen with medical videoscopes, which are minimally invasive medical instruments. They are frequently employed in therapeutic and diagnostic operations. From 2020 to 2027, the global market for medical videoscopes is anticipated to expand at a CAGR of 6.3%. The rising incidence of chronic diseases, the ageing population, and the rise in less invasive procedures all drive the industry.
The main obstacles limiting the market’s growth, however, are the high price of medical videoscopes and the danger of infection associated with their use. The three major trends influencing the medical videoscope market’s future are as follows:
Robotics are Being Used More Frequently in Minimally Invasive Surgery
A robotic system is used to perform a specific kind of minimally invasive surgery known as robotic surgery. A surgical console, a vision system, and robotic arms make up this system. The surgeon operates the robotic arms, which are outfitted with surgical instruments, while seated at a console.
Numerous advantages of robotic surgery include increased surgical accuracy, decreased surgical trauma, and shorter hospital stays. These advantages are anticipated to enhance the use of robots in minimally invasive surgery, which is anticipated to fuel the expansion of the market for medical videoscopes.
Rising Interest in 3D/4D Imaging
An advanced imaging technique known as 3D/4D imaging produces images of interior organs and tissues in three dimensions (3D) or four dimensions (4D). Both therapeutic and diagnostic uses for this technology exist.
Surgeons can more successfully plan and carry out procedures thanks to 3D/4D imaging, which gives them a detailed image of the inside organs and tissues. Additionally, preoperative planning and postoperative evaluation can be done using this technology.
Drivers of the medical videoscope market
Over the forecast period of 2019–2025, the global market for medical videoscopes is expected to expand at a compound yearly growth rate of over 7%. In the Asia-Pacific region, the CAGR is over 9%, which is much greater. The rising desire for less invasive surgeries, the rise in surgical procedures and the technical developments in medical videoscopes are the main factors driving the growth of the medical videoscope market.
The need for medical videoscopes has skyrocketed since the development of minimally invasive surgery. These procedures are linked to less blood loss, shorter hospital stays, and faster recovery times. As a result, patients are choosing less invasive procedures more frequently, which is propelling the market for medical videoscopes.
The growth in surgical procedures:
The frequency of surgeries is rising along with the prevalence of chronic conditions. The World Health Organization (WHO) predicts that by 2030, there will be 234 million surgical procedures done worldwide. Another important factor propelling the medical videoscope market is the rise in surgical operations.
The development of medical videoscope technology:
The market for medical videoscopes is also being driven by the devices’ ongoing technological development. These developments have produced more advanced and convenient medical videoscopes, which are fueling the market’s expansion. The newest improvements in medical videoscope technology include wireless technology, 3D imaging, and HD imaging.
The advantageous reimbursement procedures:
The market for medical videoscopes is expanding in part because of the favourable reimbursement rules for minimally invasive procedures. Medicare and Medicaid in the US provide coverage for a sizable portion of the population and pay for minimally invasive procedures. The need for medical videoscopes is being driven by patients’ increasing preference for minimally invasive surgeries.
Impact of the Medical Videoscope Market Covid-19
The market for medical videoscopes has been significantly impacted by the Covid-19 pandemic outbreak. The market has an estimated value of $2.4 billion in 2019 and is anticipated to expand at a CAGR of 6.3% over the next five years (2020-2025). The pandemic, however, is anticipated to cause a major halt in the market’s growth.
The global prevalence of elective operations and procedures has decreased as a result of the Covid-19 epidemic. This is because many hospitals and clinics are delaying unnecessary operations in order to treat Covid-19 patients. Since surgical procedures are the primary usage of medical videoscopes, this has had a direct impact on the demand for these devices.
The epidemic has also resulted in a marked decrease in the number of individuals seeking treatment in hospitals. This is because many people are concerned about catching the virus in hospitals. As a result, fewer treatments are being carried out, which has further lowered the demand for medical videoscopes.
The market for medical videoscopes has also been indirectly impacted by the Covid-19 epidemic. This is because the pandemic has caused a decline in worldwide economic activity as a whole. As a result, fewer people can afford to pay for surgical operations, which has decreased the number of people with disposable cash. In turn, this has had an unintended effect on the demand for medical videoscopes.
The short-term medical videoscope market is anticipated to be significantly impacted by the Covid-19 epidemic. Long-term market recovery is anticipated, though, as more elective operations and treatments are anticipated to be performed once the pandemic is finished.
Market for medical videoscopes: Major developments
According to a recent analysis by Grand View Research, Inc., the market for medical videoscopes worldwide is anticipated to reach USD 1.72 billion by 2025. Over the projection period, the market is anticipated to see a CAGR of 7.1%. The market is anticipated to be significantly impacted by the rising demand for less invasive surgical techniques.
On the basis of product, application, and end user, the market is divided into segments. The market is divided into rigid and flexible videoscopes based on the kind of product. Over the projected period, the segment for flexible videoscopes is anticipated to increase at the greatest CAGR. The market is divided into laparoscopy, arthroscopy, bronchoscopy, colonoscopy and urology on the basis of application. Over the projection period, the laparoscopy segment is anticipated to increase at the highest CAGR. The market is divided into hospitals, ambulatory surgery centres, and clinics based on the end user.
Olympus Corporation, Fujifilm Holdings Corporation, Hoya Corporation, Karl Storz SE & Co. KG, and Stryker Corporation are some of the major companies in the medical videoscope market.
The market for medical videoscopes is primarily driven by the rise in minimally invasive treatments, the ageing population, and the benefits of videoscopes over conventional scopes. The high expense of the operation and the requirement for specialised training are some of the drawbacks of videoscopes.
Future prospects for the medical videoscope market
From 2019 to 2024, the medical videoscope market is anticipated to expand at a CAGR of 7.4%, reaching $3.3 billion. The rise in minimally invasive procedures, technological improvements, and the prevalence of chronic diseases are all factors contributing to the expansion of this market.
Due to the numerous advantages they provide, such as shorter hospital stays, less pain, and quicker recovery times, minimally invasive procedures are becoming more and more popular. These treatments are carried out with the aid of videoscopes, which are brief, flexible, and lit tubes that enable medical professionals to look into the body without having to make significant incisions.
The number of technological developments in the area of medical videoscopes has been steadily increasing. These developments have resulted in the creation of updated videoscopes that provide patients with better visualisation and greater comfort.
Chronic diseases are becoming more common as a result of changing lifestyles and an older population. The need for videoscopes is being driven by the need for long-term treatment and frequent monitoring for these disorders.
The market for medical videoscopes is being constrained in its expansion by the rising cost of healthcare, which is a significant issue. Many patients are unable to obtain videoscopes due to their expensive price and the absence of insurance coverage.