As of 2022, the global endoscopy cameras market is valued at US$ 1.3 billion and is predicted to surge to US$ 2.15 billion by the end of 2027. Sales of endoscopy cameras are slated to increase at a phenomenal CAGR of 10.6% over the next five years.
Rising incidence of gastrointestinal disorders, increasing geriatric population, and growing use of endoscopies in diagnostic procedures are some of the key factors that are expected to drive endoscopy cameras market potential across the forecast period. Advancements in camera technology and growing demand for high-resolution cameras are also expected to uplift market growth over the years to come.
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Key manufacturers of endoscopy cameras are focusing on the expansion of their research and development scope by increasing investments in the R&D division to expand their product portfolios and drive revenue generation capacity.
- In September 2022, Endoluxe Inc., a leading name in the medical equipment industry, announced that it had recently raised US$ 1 million. This additional funding will be used to expand the company’s research and development division for wireless endoscopes.
Key Takeaways from Market Study
- The global endoscopy cameras market in 2022 accounts for a value of US$ 1.3 billion.
- Through 2027, the global market is slated to expand at a robust 10.6% CAGR.
- By 2027, the endoscopy cameras market is expected to be valued at US$ 2.15 billion.
- Growing aging population, rising prevalence of chronic disorders, advancements in endoscope technologies, rising patient preference for minimally invasive surgeries, and growing use in diagnostic procedures are prime factors driving market growth.
- The United States endoscopy cameras market accounts for around US$ 300 million in value in 2022.
- High costs of advanced endoscopy cameras and lack of skilled healthcare professionals to perform endoscopic procedures are expected to hinder market growth potential.
- The market for endoscopy cameras in China is anticipated to expand at 15% CAGR and reach US$ 450 million by 2027.
- Sales of endoscopy cameras in Germany are projected to increase at 7% CAGR.
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“Growing demand for high-resolution cameras in the medical industry is expected to provide attractive growth opportunities for all major and minor market players over the coming years,” says a Fact.MR analyst
|Endoscopy Cameras Market Size (2022)||US$ 1.3 Billion|
|Projected Market Value (2027F)||US$ 2.15 Billion|
|Global Market Growth Rate (2022-2027)||10.6% CAGR|
|United States Market Value (2022)||US$ 300 Million|
|Germany Market Growth Rate (2022-2027)||7% CAGR|
|China Market Value (2027F)||US$ 450 Million|
|Key Companies Profiled||
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