Medical Videoscope Market by Product Type (Videoscopes and Visualization & Documentation Systems), Application (Bronchoscopy, Arthroscopy, Laparoscopy, Urology Endoscopy, Neuroendoscopy, Gastrointestinal Endoscopy, Obstetrics/Gynecology Endoscopy, ENT Endoscopy, and Others), and End User (Hospitals, Clinics, and Others) - Global Opportunity Analysis and Industry Forecast, 2014-2022

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Medical videoscopes are expected to witness high adoption rate with increase in cases of varied diseases such as gastrointestinal diseases, colon cancers, and other targeted diseases. The medical videoscope market has gained momentum in the healthcare industry owing to its minimally invasive nature, shorter recovery time, and fewer post-operative complications coupled with lesser hospital stays. Wide use of laparoscopy, gastrointestinal endoscopy, arthroscopy, and ENT endoscopy; and advancements and major developments, such as devices with more throughput and accurate result, drive the market growth. The growth in need for non-invasive devices has increased the demand for innovative technologies and newer versions of endoscopy cameras incorporating advanced technology such as ultrahigh definition, 4-light emitting diode (LED) multi-light, and multi-zoom technology. These devices have become powerful diagnostic tools adopted for the visualization of visceral organs for chronic diseases such as cancer, gall bladder disease, and arthritis. Rise in incidence of gastrointestinal diseases has also contributed for the significant demand for medical videoscopes interventions worldwide.

However, dearth of skilled professionals and high costs associated with medical videoscope restrain the market growth. Currently, hospitals are the largest end users of medical videoscopes, followed by clinics, which are expected to exhibit the highest growth rate throughout the forecast period. However, the number of endoscopy procedures performed are higher in hospitals compared to clinics, as visualization and examination of visceral organs are majorly done in hospitals, which are well equipped with sophisticated videoscopy devices.

Increase in the number of targeted diseases coupled with growth in geriatric population fuels the demand for novel videoscopy devices such as capsule endoscopy and robot-assisted endoscopy, as it is the simple, efficient, minimally invasive, and more accessible approach for the diagnosis of diseases and indications. The employment of technologically advanced videoscopy products is highest in North America, owing to the increase in adoption of novel videoscopy devices, followed by Europe and Asia-Pacific.