Microscopes find applications in various fields of science such as microbiology, microelectronics, nanophysics, and biotechnology. Microscopes and medical cameras are widely used for medical applications such as neurosurgeries, ENT, and ophthalmology surgeries. Microscopes are used in diagnostic labs, physician offices, and pathological labs. The increasing demand for minimally invasive operations has led to an increase in the number of microsurgeries, which are performed using surgical microscopes. The increasing incidence of cancer has given rise to the demand for pathological microscopes. According to statistical data from the WHO, 32 mn cataract operations will be performed globally by 2020. Moreover, according to the National Cancer Institute, Cancer is one of the leading causes of death worldwide and the number of surgical procedures to treat cancer is likely to increase due to the growing geriatric population across the globe, thus boosting the market for surgical microscopes.
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With the increase in the prevalence of various diseases and the consequent rise in demand for treatment of the same in the form of surgeries, a rise in the demand for surgical microscopes and microscope cameras has been observed across the world. Additionally, technological advancements have also propelled the medical cameras and microscopes market. The growing adoption of medical cameras and microscopes in diagnostic laboratories and hospitals has promoted the growth of the medical cameras and microscopes market globally.
Microscopes Segment Dominated Global Market in 2014 with a 51% Share
The global medical cameras and microscopes market has been segmented based on type into microscopes and medical cameras. The microscope segment has been sub segmented into surgical and pathology microscopes. The surgical microscopes sub-segment accounted for 90% of the market share of the microscopes segment in 2014.
By application, ENT, neurosurgery, and ophthalmology are the sub-segments of the surgical microscopes market. By end use, the pathology microscopes market segment is sub-segmented into diagnostic laboratories, hospital laboratories, and physician offices. The medical cameras market is sub-segmented by type into dental, endoscopy, dermatology, ophthalmology, pathology microscope, and surgical microscope.
North America Held the Largest Share in the Medical Cameras and Microscopes Market In 2014
The medical cameras and microscopes market has been geographically categorized into North America, Latin America, Asia Pacific, Europe, and Rest of the World. Europe followed North America in the medical cameras and microscopes market in 2014. The dominance of these two regions can be attributed to the growing demand for technological advancements in medical devices and the growing geriatric population.
Increasing health care awareness, rise in health care expenditure, the growing geriatric population, and expansion of market players are some of the factors anticipated to bring about the fastest CAGR for Asia Pacific region during the period 2015 to 2023.
The key players in the medical cameras and microscopes market are Carl Zeiss Meditec AG (Germany), Nikon Corporation (Japan), Haag-Streit USA (U.S.), Danaher Corporation (U.S.), Olympus Corporation (Japan), Stryker Corporation (U.S.), SPOT Imaging Solutions (U.S.), JOEL Ltd. (Japan), Topcon Corporation (Japan), and Allied Vision GmbH (Germany).