Surgical Visualization Systems Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| CAGR | 9.30 % |
| Fastest Growing Market | Asia Pacific |
| Largest Market | North America |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
Surgical Visualization Systems Market Analysis
During the time frame of the forecast, the surgical visualization systems market is expected to grow at a CAGR of nearly 9.3%.
COVID-19 affected the surgical visualization system market. For instance, an article published in the November 2020 issue of the National Library of Medicine reported thousands of endoscopies are performed annually, but during the COVID-19 pandemic period, a significant decline in these procedures was observed across the globe. Thus, although an overall reduction in elective and urgent procedures was observed, which impacted the growth of the studied market, after a few months the market witnessed significant growth as these services were resumed. In addition, according to the study published in the February 2022 issue of the National Library of Medicine, while surgical services were temporarily shut down during the initial COVID-19 surge, the healthcare system continued to offer safe care for gastrointestinal surgery patients, especially those with oncologic reasons. There has been a comeback in surgical volume and patient mix since the phased reopening, which has finally lessened the initial detrimental impact of the pandemic on the provision of gastrointestinal surgical treatment. Such studies show the rise in surgical procedures, which may drive the market's growth post-pandemic.
The factors that are supposed to be propelling this market are the increasing prevalence of chronic diseases and technological advancements in devices. The increasing prevalence of chronic diseases like cancer and chronic kidney disease (CKD) requires constant diagnosis and frequent hospital visits, which is propelling the demand for surgical visualization systems and thereby contributing to the growth of the studied market. For instance, in July 2022, the Center for Disease Control and Prevention (CDC) published a report that reported that in 2021, 1 in 7, which is about 15% of United States adults or 37 million people, is estimated to have chronic kidney disease (CKD). The report also stated that chronic kidney disease (CKD) is more common in women than in men. Thus, the high incidence of chronic disorders is associated with a high demand for surgical procedures, thereby driving the growth of the studied market.
The technological development of various surgical instruments is also propelling the growth of the studied market. For instance, in November 2021, Medtronic plc launched its PillCam Small Bowel 3 system for remote endoscopy procedures. The PillCam SB3 at Home program combines Medtronic's PillCam technology with Amazon logistics, a combination intended to ensure both timely and accurate results for patients from the comfort of their homes. In April 2022, SonoScape Medical Corp. got approval from the US Food and Drug Administration (USFDA) for its video endoscopy system HD-550, which is used to diagnose problems in the gastrointestinal tract.
Thus, due to the aforesaid factors, such as increasing chronic diseases and product launches, the market is expected to witness significant growth over the forecast period. However, the high cost of endoscopy procedures may slow down the growth of the studied market.
Surgical Visualization Systems Market Trends
This section covers the major market trends shaping the Surgical Visualization Systems Market according to our research experts:
Colonoscopy Segment is Expected to Witness a Significant Growth Over the Forecast Period.
A colonoscopy is a visual exam of the colon using a lighted, flexible fiberoptic, or video endoscope. An endoscope is inserted through the anus and moved gently around the bends of the colon. Viewing the colon like this helps the doctor check for conditions like colon cancer, noncancerous tumors, inflammation, infection, and bleeding.
The major factors propelling segment growth are the increasing incidence of colon and rectum cancers, technological advancements in devices, and increased diagnostic awareness in the population. For instance, the International Agency for Research on Cancer (GLOBOCAN) reported that colon cancer cases are expected to reach 1.92 million by 2040. Also, the same source reported that rectum cancer cases are expected to reach 1.16 million by 2040. A colonoscopy is one of the most sensitive tests currently available for colon and rectal cancer screening. Thus, a high incidence of colon and rectum cancer is driving the growth of this segment, thereby propelling the growth of the market.
The key market players' technological advancements and new product launches are also contributing to the market's growth.For instance, in April 2021, Medtronic plc launched the United States Food and Drug Administration (USFDA)-approved GI Genius intelligent endoscopy module in the United States. The GI Genius module is the commercially available computer-aided detection (CADe) system that uses artificial intelligence (AI) to identify colorectal polyps. Similarly, in August 2022, New Jersey-based Hackensack University Medical Center received funding from the Health Equity Assistance Program to support the installation of artificial intelligence (AI)-assisted colonoscopy technology and provide training and technical assistance to underserved communities. Thus, such product launches are driving the growth of this segment, thereby fueling the growth of the studied market.
Additionally, an article published in the National Library of Medicine in March 2022 reported the alarming rise in the incidence of early-onset colorectal cancer and the importance of raising awareness and creating newer guidelines in response to the changing demographic of patients impacted by colorectal cancer. The increasing diagnostic awareness in the population, especially among young populations, is also contributing to the growth of this segment.
Thus, due to the above-mentioned reasons such as product launches and increasing cancer cases, the segment is expected to witness significant growth over the forecast period, thereby contributing to the growth of the market.
North America Region is Expected to Witness a Significant Growth Over the Forecast Period.
North America is expected to witness significant growth over the forecast period. The market growth is due to the factors such as the presence of key players, the high prevalence of chronic diseases in the region, and the established healthcare infrastructure. Furthermore, beneficial government initiatives and an increase in the number of research partnerships are some of the drivers expected to propel market growth. In this region, the United States holds the maximum share due to supportive healthcare policies, the high number of patients, and a developed healthcare market.
The high cases of colon cancer are driving the growth of the studied market in the region. For instance, the American Cancer Society 2022, estimated that in 2022, 1,51,030 colorectum cancer cases are reported in the United States. This, is the fourth most prevalent cancer in the country, with California recording the highest number of colorectum cancer cases. Also, an article titled, 'Comparison of trends in early-onset colorectal cancer in North America and Europe' published in June 2022, reported that North America reported a higher incidence increase in rectal cancer than in colon cancer. Thus, high colon-rectal cancer is contributing to the studied market in the region.
Also, product launches, technological developments, mergers acquisitions, and partnerships among the key market players are significantly boosting the market. For instance, in February 2022, EvoEndo, Inc. received 510(k) clearance from the United States Food and Drug Administration (USFDA) to begin marketing and sale of the EvoEndo single-use endoscopy system. The clearance follows EvoEndo's distribution agreement with Micro-Tech Endoscopy to begin the distribution of the EvoEndo System into hospitals in the United States. Similarly, in November 2021, Micro-Tech Endoscopy launched the LesionHunter Cold Snare, a novel cold snare with an ultra-thin Nitinol wire. This wire material provides durability in the shape and can be used in endoscopic procedures.
Thus, due to the aforesaid mentioned reasons the region is expected to witness significant growth over the forecast period.
Surgical Visualization Systems Industry Overview
The surgical visualization systems market is fragmented in nature due to the presence of fewer companies operating globally as well as regionally. The competitive landscape includes an analysis of a few international as well as local companies that hold market shares, including Carl Zeiss Meditec AG, Fujifilm Corporation, Cardinal Health, Karl Storz GmbH & Co. Kg., Laborie Inc., Conmed Corporation, Stryker Corporation, Happersberger Otopront GmbH, Acutronic Medical Systems AG, AngioDynamics Inc., Olympus Corporation, and Richard Wolf GmbH, among others.
Surgical Visualization Systems Market Leaders
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Olympus Corporation
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Stryker Corporation
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Fujifilm Corporation
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Karl Storz GmbH & Co. Kg.
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Laborie Inc.
*Disclaimer: Major Players sorted in no particular order
Surgical Visualization Systems Market News
- March 2022: Endoluxe launches the high-definition, wireless endoscopic camera, TowerTech. TowerTech provides the complete functionality of legacy endoscopy video platforms, all built into the camera head.
- February 2022: Ambu launched the 510(k) regulatory clearance of the Ambu aScope Gastro and Ambu aBox 2 in the United States. aScope Gastro is Ambu's sterile, single-use gastroscope that includes new advanced imaging and design features in a combined solution with next-generation display and processor technology.
Surgical Visualization Systems Market Report - Table of Contents
1. INTRODUCTION
- 1.1 Study Assumptions and Market Definition
- 1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
- 4.1 Market Overview
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4.2 Market Drivers
- 4.2.1 Increasing Prevalence of Chronic Diseases
- 4.2.2 Technological Advancements in the Devices
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4.3 Market Restraints
- 4.3.1 High Cost of Endoscopy Procedures
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4.4 Porter's Five Forces Analysis
- 4.4.1 Threat of New Entrants
- 4.4.2 Bargaining Power of Buyers/Consumers
- 4.4.3 Bargaining Power of Suppliers
- 4.4.4 Threat of Substitute Products
- 4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION (Market Size by Value - USD million)
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5.1 By Product
- 5.1.1 Endoscopic Cameras
- 5.1.2 Light Sources
- 5.1.3 Displays and Monitors
- 5.1.4 Video Recorders
- 5.1.5 Accessories
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5.2 By Application
- 5.2.1 Gastroscopy
- 5.2.2 Colonoscopy
- 5.2.3 Endoscopy
- 5.2.4 Other Applications
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5.3 By End-Users
- 5.3.1 Hospitals
- 5.3.2 Diagnostic Imaging Centers
- 5.3.3 Other End-Users
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5.4 Geography
- 5.4.1 North America
- 5.4.1.1 United States
- 5.4.1.2 Canada
- 5.4.1.3 Mexico
- 5.4.2 Europe
- 5.4.2.1 Germany
- 5.4.2.2 United Kingdom
- 5.4.2.3 France
- 5.4.2.4 Italy
- 5.4.2.5 Spain
- 5.4.2.6 Rest of Europe
- 5.4.3 Asia-Pacific
- 5.4.3.1 China
- 5.4.3.2 Japan
- 5.4.3.3 India
- 5.4.3.4 Australia
- 5.4.3.5 South Korea
- 5.4.3.6 Rest of Asia-Pacific
- 5.4.4 Middle East and Africa
- 5.4.4.1 GCC
- 5.4.4.2 South Africa
- 5.4.4.3 Rest of Middle East and Africa
- 5.4.5 South America
- 5.4.5.1 Brazil
- 5.4.5.2 Argentina
- 5.4.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
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6.1 Company Profiles
- 6.1.1 Carl Zeiss Meditec AG
- 6.1.2 Fujifilm Corporation
- 6.1.3 Cardinal Health
- 6.1.4 Karl Storz GmbH & Co. Kg
- 6.1.5 Laborie, Inc
- 6.1.6 Conmed Corporation
- 6.1.7 Stryker Corporation
- 6.1.8 Happersberger otopront GmbH
- 6.1.9 Acutronic Medical Systems AG
- 6.1.10 AngioDynamics Inc.
- 6.1.11 Olympus Corporation
- 6.1.12 Richard Wolf GmbH
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject To AvailablitySurgical Visualization Systems Industry Segmentation
As per the scope of the report, surgical visualizations are the systems that are generally used in operating rooms during surgical procedures. It helps surgeons see efficiently, which results in better outcomes. The surgical visualization systems reduce the reflections and increase the usable contrast ratio, which further helps in the visualization of the body during surgeries. The Surgical Visualization Systems Market is segmented by product (endoscopic cameras, light sources, displays and monitors, video recorders, and accessories), application (gastroscopy, endoscopy, colonoscopy, and other applications), end-users (hospitals, diagnostic imaging centers, and other end-users), and geography (North America, Europe, Asia-Pacific, the Middle East and Africa, and South America). The market report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD million) for the above segments.
| By Product | Endoscopic Cameras | |
| Light Sources | ||
| Displays and Monitors | ||
| Video Recorders | ||
| Accessories | ||
| By Application | Gastroscopy | |
| Colonoscopy | ||
| Endoscopy | ||
| Other Applications | ||
| By End-Users | Hospitals | |
| Diagnostic Imaging Centers | ||
| Other End-Users | ||
| Geography | North America | United States |
| Canada | ||
| Mexico | ||
| Geography | Europe | Germany |
| United Kingdom | ||
| France | ||
| Italy | ||
| Spain | ||
| Rest of Europe | ||
| Geography | Asia-Pacific | China |
| Japan | ||
| India | ||
| Australia | ||
| South Korea | ||
| Rest of Asia-Pacific | ||
| Geography | Middle East and Africa | GCC |
| South Africa | ||
| Rest of Middle East and Africa | ||
| Geography | South America | Brazil |
| Argentina | ||
| Rest of South America |
Surgical Visualization Systems Market Research FAQs
What is the current Global Surgical Visualization Systems Market size?
The Global Surgical Visualization Systems Market is projected to register a CAGR of 9.30% during the forecast period (2024-2029)
Who are the key players in Global Surgical Visualization Systems Market?
Olympus Corporation, Stryker Corporation, Fujifilm Corporation, Karl Storz GmbH & Co. Kg. and Laborie Inc. are the major companies operating in the Global Surgical Visualization Systems Market.
Which is the fastest growing region in Global Surgical Visualization Systems Market?
Asia Pacific is estimated to grow at the highest CAGR over the forecast period (2024-2029).
Which region has the biggest share in Global Surgical Visualization Systems Market?
In 2024, the North America accounts for the largest market share in Global Surgical Visualization Systems Market.
What years does this Global Surgical Visualization Systems Market cover?
The report covers the Global Surgical Visualization Systems Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the Global Surgical Visualization Systems Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
Global Surgical Visualization Systems Industry Report
Statistics for the 2024 Global Surgical Visualization Systems market share, size and revenue growth rate, created by Mordor Intelligenceā¢ Industry Reports. Global Surgical Visualization Systems analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
