According to the most recent World Health Organization (WHO) data, 57,654 people died from peptic ulcer disease in India in 2017, with 53,394 dying from colon-rectum cancer. Such disorders necessitate the use of visual imaging devices for both diagnosis and treatment. As the occurrence of these diseases rises, so does the market's growth. In addition, the growing popularity of less invasive surgeries is propelling market expansion. Hence, all these factors led to the introduction of surgical visualization products in the market.

Data Bridge Market Research analyses that the Surgical Visualization Products Market is expected to grow at a CAGR of 13.5% in the forecast period of 2021 to 2028 and is estimated to reach USD 6,024.52 million by 2028. The high incidence of chronic disorders such as ulceration, cancer, inflammation, and other diseases high are increasing the demand for endoscopy in diagnostics methods. This will flourish the growth rate of surgical visualization products market  

Key Findings of the Study

• The surgical visualization products market is anticipated to reach a value of USD 6,024.52 million by 2028, with a CAGR of around 13.5% during the forecast period from 2021 to 2028.
• North America dominated the surgical visualization products market in 2021 due to the presence of major key players and the increasing prevalence of chronic diseases in this region.
• Asia-Pacific is expected to register lucrative growth over the forecast period of 2021 to 2028 owing to rising healthcare expenditure and the prevalence of orthopedic diseases.
• The direct tender segment accounted for the largest share in 2021 at 58.6%. The upsurge in demand for surgical visualization products in developed and developing countries is expected to boost the surgical visualization products market growth.
• The surgical visualization products market was adversely affected by COVID-19 outbreak. The lockdown restriction led to the emergence of various challenges such as the denied wound care services, halt of various operations, significant supply chain slowdowns and others.

Increasing Number of Surgical Procedures Across the Globe is Expected to Drive the Market's Growth Rate

The demand for surgical procedures across the world varies as per the incidence as well as prevalence rate of disease. During the past few decades, the medical sector has increased the minimally invasive surgery techniques across all specialties. Various developments in minimally invasive techniques lead to the reduced number of complications for patients and fasten the recovery process. According to the WHO, surgical operations in the United States surged by more than 300 percent between 1996 and 2006. Therefore, the growing number of minimally invasive surgeries raises the demand for surgical visualization products. Moreover, the market's expansion is aided by key companies' increased focus on research and development, which leads to important product launches.

Report Scope and Market Segmentation

Segment Analysis:

The surgical visualization products market is segmented on the basis of product type, application, end user and distribution channel.

• On the basis of product type, the global surgical visualization products market is segmented into endoscopic camera, accessories, light sources, display and monitors, video recorders and processor, camera heads, and video converters. In 2021, endoscopic camera is expected to dominate the global surgical visualization products market with 29.5% market share due to the introduction of advanced technology and increasing funding for infrastructure development.  
• On the basis of application, the global surgical visualization products market is segmented into arthroscopy, laparoscopy, E.N.T. endoscopy, obstetrics/gynecology endoscopy, urology endoscopy, gastroscopy and others. In 2021, the arthroscopy segment is anticipated to dominate the market with 24.7% market share. This is due to improving healthcare infrastructure and continuously evolving with the introduction of advanced technology, making it easier for surgeons to reach critical organs, providing better visualization ergonomic working conditions.

In 2021, the Arthroscopy Segment of Application Segment is Anticipated to dominate the Surgical Visualization Products Market

In 2021, the arthroscopy segment of this market will dominate the surgical visualization products market owing to the improving healthcare infrastructure and continuously evolving with the introduction of advanced technology, making it easier for surgeons to reach critical organs, providing better visualization and ergonomic working conditions. The arthroscopy segment is expected reach the highest CAGR of 17.0% in the forecast period of 2021-2028.

• On the basis of end user, the global surgical visualization products market is segmented into hospital, specialty clinics, diagnostic imaging centres, ambulatory surgical centres and others. In 2021, the hospital segment is expected to dominate the market with 48.6% market share because of rising number of surgeries and surging demand of products which can enhance the execution of trajectory of the target organ and improve the efficiency of surgery.
• On the basis of distribution channel, the global surgical visualization products market is segmented into direct tender and third party distributors. In 2021, the direct tender segment is expected to dominate the global surgical visualization products market with 58.6% market share due to escalation in marketing activities and improved customer services in developed and developing countries and rising demand for surgical visualization products in developed and developing countries.

In 2021, the Direct Tender Segment is Projected to Hold the Largest Share of Distribution Channel Segment in the Surgical Visualization Products Market

In 2021, the direct tender segment is anticipated to hold the largest share of global surgical visualization products market owing to the rising number of marketing activities and improved customer services in developed and developing countries. Along with this, the upsurge in demand for surgical visualization products in developed and developing countries will propel the market's growth rate. The direct tender segment is growing with a CAGR of 15.1% in the forecast period of 2021 to 2028.

Major Players

Data Bridge Market Research recognizes the following companies as the major surgical visualization products market players in surgical visualization products market are Cook (US), Olympus America (U.S.), FUJIFILM Holdings America Corporation (U.S.), Laborie (U.S.A.), Zowietek Electronics, Ltd. (China), Covidien (Ireland), North-Southern Electronics Limited (China), Vims (France), and Wuzhou aokace Technology Co., Ltd (China)

Market Development

• In April 2021, Olympus Corporation had launched a line of five premium endoscopes for use in therapeutic procedures and advanced diagnostic named H-SteriScope Single-Use Bronchoscopes. H-SteriScope single-use bronchoscopes, which are created specifically for tissue biopsy, foreign body retrieval, and other sophisticated procedures, aid doctors in locating, diagnosing, and treating patients while improving workflow and productivity. With an outside diameter range of 2.2 to 6.2 mm and a working channel range of 1.2 to 3.2 mm, H-SteriScope versions vary from Zero to Extra.
• In May 2021, PENTAX Medical (a division of HOYA Group) and Jiangsu Vedkang Medical Science and Technology Co., Ltd (Vedkang) had announced the establishment of a joint venture- PENTAX Medical Therapeutics (Jiangsu) Co., Ltd., to develop single-use therapeutics products in the field of flexible medical endoscopy. Through the PENTAX Medical sales network, the new company will deliver novel single-use devices to global clients, backed by Vedkang's incredibly reliable and quality-focused production and R & D infrastructure. Patients, clinicians, and healthcare systems gain from using flexible medical endoscopes and therapeutic devices in minimally invasive treatments, resulting in considerable cost/complexity reductions and faster patient recovery times.
• In January 2021, KARL STORZ Endoscopy-America, Inc. had launched the IMAGE1 S Rubina multimode visualization system, the latest advancement in endoscopic imaging. Using near-infrared light and indocyanine green dye (NIR/ICG), the IMAGE1 S Rubina combines state-of-the-art 4K resolution with enhanced fluorescence-guided imaging. Without the latency or misaligned frames prevalent with other technologies, the system combines dual-4K sensors and dual-LED light technology to switch between white-light and fluorescence modes fluidly.
• In April 2021, Medtronic plc had entered into a partnership with Surgical Theatre to interface Surgical Theater's SyncAR augmented reality (A.R.) technology with Medtronic's StealthStation S8 surgical navigation system. Neurosurgeons will be able to use augmented reality technology in real time to improve visualization during critical cranial surgeries as a result of this collaboration. The SyncAR platform, which uses fighter-jet simulation technology, allows doctors to view brain architecture, test virtual surgical equipment, and plan surgeries before entering the operating room. Surgeons may extend the benefits of A.R. by merging this technology with the StealthStation S8 cranial solution, allowing them to see a 360° A.R. rendering overlaid on the live surgical site for the first time during brain procedures.
• In November 2020, Stryker Corporation acquired Wright Medical, a company centered on extremities and biologics. Stryker's trauma and extremities business will benefit from Wright Medical's related product portfolio and customer base. The company is a recognized leader in the market areas of upper extremities (shoulder, elbow, wrist, and hand), lower extremities (foot and ankle), and biologics, among the fastest expanding in orthopaedics. Wright Medical also has advanced preoperative planning technologies and sufficient scale to provide a more concentrated business unit approach for the combined company.

Regional Analysis

Geographically, the countries covered in the surgical visualization products market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the Dominant Region in Surgical Visualization Products Market During the Forecast Period 2021 -2028

North America will continue to dominate the surgical visualization products market in terms of market share and market revenue and will continue to flourish its dominance during the forecast period. This is due to the presence of important players, developed healthcare infrastructure and the high frequency of chronic diseases are all contributing to market expansion in the region. Additionally, favourable government efforts and an increase in the number of research partnerships are likely to support market expansion. Because of favorable healthcare regulations, a large patient population, and a developed healthcare sector, the United States has the largest share in this region.

Asia-Pacific is Estimated to be The Fastest Growing Region in Surgical Visualization Products Market the Forecast Period 2021 -2028

Asia-Pacific is expected to grow during the forecast period due to the rising demand and availability of visualization products in this region. In addition to this, rising prevalence of orthopedic diseases and increasing number of research and development activities are expected propel the market's growth rate in this region.

COVID-19 Impact Analysis

Since its emergence in December 2019, the COVID-19 virus has spread to nearly every country on the planet, prompting the World Health Organization (WHO) to declare it a public health emergency. The outbreak of COVID-19 largely impacted the healthcare industry. The surgical visualization products market was, however, adversely affected by it.  The imposition of the lockdown and social distancing restrictions by the government to curb the COVID-19 pandemic outbreak led to the emergence of various challenges such as the significant supply chain slowdowns, halt of various operations, stock market volatility, decreasing corporate confidence, stifling business growth, suspensions of new developments, further limiting the industry's expansion. The market for endoscopy visualization systems has been hindered by the cancellation or postponement of elective and non-urgent endoscopic treatments. As a result, the market for surgical visualization systems impacted negatively.

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Frequently Asked Questions (F.A.Q.s)

• What is the Current Market Value for Surgical Visualization Products Market?

The Market Value for Surgical Visualization Products Market in 2020 is USD 2,352.65 Million.

• What is the Growth rate of the Surgical Visualization Products Market?

The Surgical Visualization Products Market is to Grow at a CAGR of 13.5% during the Forecast Period of 2021 to 2028

• Which are the Major Market Drivers for Surgical Visualization Products Market?

The Expansion of the Global Surgical Visualization Products Market will be fueled by a surging prevalence of chronic diseases such as inflammation, cancer, ulceration and other lifestyle disorders and rising number of geriatric population. Additionally, the increasing number of surgical procedures globally and technological advancement resulting in new product launch will further cushion the market's growth rate during the forecast period.

• What are the Major Companies Operating in the Surgical Visualization Products Market?

Cook (US), Olympus America (U.S.), FUJIFILM Holdings America Corporation (U.S.), Laborie (U.S.A.), Zowietek Electronics, Ltd. (China), Covidien (Ireland), North-Southern Electronics Limited (China), Vims (France), and Wuzhou aokace Technology Co., Ltd (China) are the major companies operating in this market.

• Which Countries Data is Covered in the Surgical Visualization Products Market?

The Countries Covered in the Surgical Visualization Products Market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (M.E.A.) as a part of Middle East and Africa (M.E.A.), Brazil, Argentina and Rest of South America as part of South America.

• What are the Market Segments Covered in the Surgical Visualization Products Market?

The Surgical Visualization Products Market is segmented on the basis of product type, application, end user and distribution channel. On the basis of product type, the global surgical visualization products market is segmented into endoscopic camera, accessories, light sources, display and monitors, video recorders and processor, camera heads and video converters. On the basis of application, the global surgical visualization products market is segmented into arthroscopy, laparoscopy, E.N.T. endoscopy, obstetrics/gynecology endoscopy, urology endoscopy, gastroscopy and others. On the basis of end user, the global surgical visualization products market is segmented into hospital, specialty clinics, diagnostic imaging centres, ambulatory surgical centres and others. On the basis of distribution channel, the global surgical visualization products market is segmented into direct tender and third party distributors.

• What are the Main Data Pointers Covered in the Surgical Visualization Products Market?

The Market Report Curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.