HOME Research Insight Key Players in the Medical Cameras Market Focus on Product Launches as a Major Growth Strategy

Key Players in the Medical Cameras Market Focus on Product Launches as a Major Growth Strategy

The global medical cameras market is expected to reach USD 3.69 Billion by 2021 from USD 2.43 Billion in 2016, at a CAGR of 8.7%. The rapid pace of technological advancements and the increasing number of surgical procedures requiring medical cameras are major drivers of this market.

The prominent players in this market include Leica Microsystems (a division of Danaher Corporation, U.S.), Olympus Corporation (Japan), Stryker Corporation (U.S.), Hamamatsu Photonics K.K. (Japan), Sony Corporation (Japan), and Carestream Health (a subsidiary of Onex Corporation, Canada). Product launches was the key growth strategy followed by most major players in the medical cameras market.

In 2015, Olympus Corporation held the leading position in the market. In October 2014, Olympus Corporation launched two magnifying videoscopes, The GIF-H290Z endoscope and the CF-HQ290ZL/I Colonovideoscope, to help diagnose and monitor stomach and colon tumors. The new endoscope is equipped with an advanced camera with a reduction of about 1mm in the outer diameter that helps minimize patient discomfort. The new colonovideoscope provides magnification of up to 80x; the expanded field view helps in the detection of lesions on the folded surfaces of the colon. Similarly, Olympus launched the Ultra-HD Surgical Endoscopy System, developed in association with Sony Corporation (Japan), in September 2015.

Sony Corporation held the second position in the medical cameras market in 2015.  In June 2014, the company launched the curved image sensor, which mimics the retina of the human eye. The launch of such innovative products helps the company enhance its market position and expand its product portfolio.

Carestream Health is another major player in the medical cameras market. The company has a strong product portfolio including high-performance intraoral cameras; it also focuses on expanding its customer base.

Product launches account for the largest share of the overall growth strategies mapped from 2013 to 2016. Some key players that adopted this strategy include Olympus Corporation (Japan), Richard Wolf Gmbh (Germany), and Leica Microsystems (a division of Danaher Corporation, U.S.). Other strategies adopted by major players include acquisitions, agreements, collaborations &  partnerships, expansions, and investments.

Related Reports:

Medical Camera Market by Camera Type (Endoscopy, Surgery, Dermatology, Ophthalmology, Dental), Resolution (HD, SD), Sensor (CMOS, CCD), End-Users (Hospitals, Diagnostic Centers, Speciality Clinics & Ambulatory Surgery Centers) - Global Forecast to 2021

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