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Globally Rising Cases of Cancers to be Principle Growth Driver of Global Medical Cameras and Microscopes Market

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Correct diagnosis and proper decision making are two of the most important criteria that should be met to ensure success in the field of life sciences. The availability of high performing and high precision medical imaging applications and machines is the key to correct diagnosis and the subsequent treatment of any ailment in the field of healthcare and to proper analysis in the field of research. These factors make the f highly accurate, technologically advanced, and reliable imaging mechanisms indispensable in the medical field.

A variety of medical cameras and microscopes are available in the market that are used to simplify several medical applications. A constant rise in the number of complex surgeries being performed on a global front has led to an increase in demand for surgical cameras and microscopes. An alarming rise in the prevalence of various cancers types and cardiovascular diseases has also led to an increased demand for pathological microscopes on a global front. According to a recent market research report published by Transparency Market Research, the global market for medical cameras and microscopes will expand at a healthy 4.0% CAGR over the period between 2015 and 2023. Owing to this, the market, which had a valuation of US$0.9 bn in 2014, is expected to reach US$1.3 bn by 2023.

Browse the full Report of Global Medical Cameras and Microscopes Market

Diagnosis of Cancer to be One of Market’s Key Drivers

The U.S. National Cancer Institute states that cancer has become one of the leading causes of death across the globe. In 2012, nearly 8.2 million cancer-related deaths and 14 million new cancer cases were reported across the globe. This indicates the exponentially growing demand for diagnostic tests and surgical procedures that is currently witnessed in the market and is expected to rise at a significant pace in the coming years as cancer cases continue to increase.

This factor alone is expected to be one of the most important drivers of the global surgical microscopes market. Another major factor anticipated to have a prominent impact on the overall development of the global medical cameras and microscopes market is the rise in global geriatric population. According to the WHO, the global population will rise by about 33% by 2021. However, what is more noteworthy is the fact that by this time, the population of people older than 65 years will be more than double of the current number. Such huge rise in geriatric population will lead to a significant increase in demand for treatment and surgeries for aging-associated diseases such as a cancer, cardiovascular diseases, and cataracts.

Surgical Microscopes and North America Emerge as Market Leaders

The market for medical cameras and microscopes has a variety of products such as microscopes for surgeries and pathological use, cameras for use in the fields of dentistry, endoscopy, dermatology, ophthalmology, surgery, etc. Among the two broad segments of the market: medical microscopes and medical cameras, the segment of medical microscopes led the global market in 2014 by accounting for a share of 51% in the market. Surgical microscopes, a sub-segment of the global medical microscopes market, accounted for a share of 90% in the overall market for medical microscopes in the same year.

Browse the full Press Release of Global Medical Cameras and Microscopes Market

From a geographical standpoint, the market for medical microscopes and cameras witnessed the highest demand from North America, followed by Europe in 2014. The huge demand for medical microscopes and cameras in the region is contributed by the highly advanced healthcare infrastructure, rising geriatric population, high prevalence of a number of cancers, awareness about healthcare among the global population, and a favorable medical reimbursement scenario.