Medical Videoscope Market Growth Companies, Segments, and Regional Insights
The global medical videoscope market, valued at $23.35 billion in 2023, is expected to reach $49.86 billion by 2034, growing at a 7.14% CAGR. Rising surgical needs due to aging, workplace risks, and accidents are fueling this demand.
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Medical Videoscope Market Trends and Opportunities
In recent developments, MedInTech Inc., a South Korean smart endoscope company, announced a successful $14.6 million Series B funding round in May 2024. Earlier, in January 2023, IQ Endoscopes, a UK-based medical device company, secured £5.2 million, backed by investors including the Development Bank of Wales and BGF, a prominent investor in the UK and Ireland. Japanese medtech company AI Medical Service raised $70 million in April 2022, supported by Globis Capital Partners, World Innovation Lab, and SoftBank Vision Fund 2, to develop AI tools that assist endoscopists with decision-making.
Market Opportunity: Minimally Invasive Surgeries
Minimally invasive surgeries (MIS) have become a standard approach in many medical fields, yet they’re still gaining traction in periodontal care. A new videoscope designed for MIS in periodontal procedures addresses some limitations of traditional viewing methods, expanding the use of videoscopic technology in specialized surgeries.
Market Challenge: Shortage of Skilled Endoscopists
A global shortage of trained endoscopists could impact market growth in the coming years, with the cost of endoscopic procedures adding further challenges. This need for skilled practitioners may limit market expansion despite the increasing demand for endoscopic procedures.
Leading Companies and Updates in the Medical Videoscope Market
The medical videoscope market is led by a range of innovative companies, including:
- Olympus Corporation – A pioneer in optical and imaging technology, Olympus recently teamed up with Canon Medical Systems to advance Endoscopic Ultrasound Systems.
- Karl Storz GmbH & Co. KG – Known for its expertise in OR integration, Karl Storz partnered with FUJIFILM Healthcare Americas Corporation in August 2024 to provide end-to-end solutions for endoscopists and surgeons in the U.S.
- Stryker Corporation, Hoya Corporation, Fujifilm Holdings Corporation, and Smith & Nephew PLC – Each a major contributor to innovative medical videoscopic solutions, pushing advancements in imaging clarity and device ergonomics.
- Other significant players: Richard Wolf GmbH, Conmed Corporation, Welch Allyn, Inc., XION GmbH, Ambu, Arthrex, ASAP endoscopic products, ATMOS MedizinTechnik, B. Braun Melsungen, Check-Cap, Jinshan Science & Technology, Clarus Medical, and Cogentix Medical.
Recent Industry Announcements and Developments
In early 2024, Olympus and Canon Medical Systems partnered to advance endoscopic imaging technology. Karl Storz and FUJIFILM’s partnership aims to enhance OR efficiency and provide high-quality solutions to endoscopists.
New product launches include USA Borescopes’ introduction of a compact borescope in October 2023, designed for challenging inspection areas, and a new portable videoscope by Borescopes, showcased at the Heli Expo in Anaheim, California, in March 2024.
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