In its new report, titled "Medical Videoscopes Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2023," Transparency Market Research (TMR) provides insights into the growth drivers, restraints, and competitive trends impacting the global medical videoscopes market between 2015 and 2023.
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The demand for medical videoscopes has significantly risen over the last few years in the healthcare industry. The equipment helps in enhancing the visualization system when conducting even the most complicated surgeries, thereby enabling healthcare professionals to minutely observe body cavities and organs.
Videoscopes are integrated with software that creates dynamic 3D images from the output of magnetic resonance imaging (MRI), computed tomography (CT), and other scanners. These images enable healthcare professionals to arrive at the accurate diagnosis of chronic medical conditions. A medical videoscope is usually 10 mm or less in diameter and measures about 15 m in length.
Medical videoscopes are used across various applications such as endoscopy, gynecology, laparoscopy, arthroscopy, urology, and bronchoscopy. Apart from their diverse applications, the market for medical videoscopes is also gaining impetus from the latest technological advances introduced in endoscopic procedures, which in turn have resulted in several improvisations in videoscopes. Additionally, the rapidly rising geriatric population, which is more vulnerable to gastrointestinal and orthopedic diseases, is also anticipated to accelerate demand from the global medical videoscopes market. However, the high cost of this equipment may hinder several small and mid-sized hospitals from investing in them, subsequently hampering the overall growth of the market.
Regionally, North America dominates the global medical videoscopes market at present. Europe has emerged as the second largest market for medical videoscopes. Both these regional markets are capitalizing on the latest technological advances and the rising demand for minimally invasive surgical procedures. Furthermore, the market in North America is also substantially benefitted by the increasing number of training workshops and favorable government initiatives in the U.S. and Canada.
Presently, the global market for medical videoscopes is consolidated in nature, due to the presence of only a handful of established and emerging enterprises in the market. To provide a holistic overview of the competitive landscape of the market, the report profiles companies such as Stryker Corporation, Richard Wolf GmbH, Olympus Corporation, Fujifilm Holding Corporation, KARL STORZ GmbH & Co. KG, Smith and Nephew plc, Touch of Life Technologies, ENTAX Medical Company, ConMed Corporation, and XION GmbH.
The report is compiled with the intent of updating the stakeholders about the prevailing market dynamics and its future outlook based on exhaustive primary and secondary research. Hence, it comprises data obtained from trusted industrial sources, information relevant to the market's growth trajectory, and valuable opinion from industry veterans.
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