Surgical Visualization Systems Market Expected To Generate Huge Profits by 2027
Surgical visualization systems can be defined as devices which provide surgeons with better visualization of the surgical site. These systems include two movable arms and a viewing platform mounted on the distal end of the first moving arm. The camera is configured accordingly to provide a surgical microscopic view of the surgery site which can be viewed by the surgeon at the viewing platform. Additionally, surgical visualization systems include a control system having electronics configured to receive input from the surgeon to adjust the orientation of the camera. Endoscopes are the major products employed for visualization which aid in inspection, examination, diagnosis, and treatment of various gastrointestinal diseases, diseases associated with the bronchial tract, and other organs. It is a minimally invasive procedure enabling the visualization and diagnosis of problems such as cancer, ulceration, and other diseases.
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The global surgical visualization systems market is driven by increase in the number of surgeries performed each year. An estimated 232 million surgical procedures were performed globally in 2015. According to the WHO, surgical procedures in the U.S. increased by over 300% from 1996 to 2006. Moreover, increase in focus of key players on research and development leading to significant product launches contributes to the growth of the market. In May 2018, Karl Storz launched PDD Blue Light Flexible Video Cytoscopy System and expanded its product portfolio. NDS Surgical Imaging (NDSsi) launched a visualization platform for operating rooms and minimally invasive suites, including 7" Radiance Ultra, a next generation surgical visualization platform. Similarly, in 2018, Fujifilm marked its presence in the surgical visualization systems market with the launch of new surgical visualization systems for minimally invasive surgeries. However, high cost of the devices and lack of skilled professionals are likely to hamper the growth of the global market during the forecast period.
The global surgical visualization systems market can be segmented based on product type, application, end-user, and region. In terms of product type, the market can be classified into high-end surgical visualization systems, middle-end surgical visualization systems, and low-end surgical visualization systems. Based on application, the global surgical visualization systems market can be categorized into laparoscopy, gynecology endoscopy, gastroscopy, ENT endoscopy, urology endoscopy, and others. In terms of end-user, the market can be divided into specialty clinics, hospitals, ambulatory surgical centers, diagnostic imaging centers, and others.
Geographically, the global surgical visualization systems market can be segmented into North America, Europe, Latin America, Asia Pacific, and Middle East & Africa. North America dominated the global market in terms of revenue in 2018. The region is projected to continue to dominate the market during the forecast period owing to presence of leading players, increase in investments by manufacturers, focus on research and development, and well-established health care infrastructure. The market in Asia Pacific is anticipated to expand at a high CAGR during the forecast period. Rise in disposable income, large population base, and increase in the number of surgeries performed are expected to boost market growth during the forecast period.
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Major players in the global surgical visualization systems market include Medtronic, B. Braun Melsungen AG, Olympus Corporation, Boston Scientific Corporation, Karl Storz GmbH & Co. Kg., Acutronic Medical Systems AG, Cogentix Medical, Optomic, Fujifilm Corporation, Stryker, CONMED Corporation, and Happersberger otopront GmbH.
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