The North America Medical Camera Market was worth USD 1.02 Billion in 2023 and is estimated to be growing at a CAGR of 9.3% to reach USD 1.60 Billion by 2028.
The growing number of surgical procedures that require medical cameras, growing research and development expenses, and advancements in technologies towards the medical care market augment this region's growth. Growing recent and latest healthcare amenities, increasing patient significance escalate the market. Increasing the requirement for grabbing images provides an improved view of the patient’s anatomy and pathology in diagnostics and surgical methods, which escalates the market growth. The rising aging population base gave rise to an escalation for age-related disorders like cancer, cardiovascular disease, arthritis, diabetes, and hypertension, which causes an increased demand for minimally invasive procedures. Growing funds and investments and approvals from the government bodies, which has an outcome in the development of advanced healthcare facilities worldwide which boost the market in this region.
High prices associated with the medical cameras are majorly limiting the market growth to a small extent. Lack of well-established healthcare facilities in hospitals and other medical organizations is projected to restrain market growth. The execution of customs taxes on medical devices amidst countries like the U.S is predicted to hinder the market during the forecast period. Besides these, the governments' insufficient funds in a few North American countries are expected to hamper the market.
This research report has been segmented & sub-segmented into the following categories:
North America has the largest market globally for Medical Camera. In North America, the United States has the largest market share and is also expected to be the fastest-growing. Factors such as the growing geriatric population, rising investment into research and development, and favorable laws are expected to drive the region's market growth.
The U.S. medical camera market is governing the North America medical camera market with the largest share. The rising elder people population, augmenting the need for minimally invasive surgeries, quick obtainment of latest technologies, the existence of improved healthcare infrastructure, and growing per capita income and rising expenses on healthcare bolster the medical care market growth in this region during the historical period.
Canada is the second leading market, followed by the U.S in leading the North American market. An increase in the older people population and a massive rise in diseases like cancer are likely to fuel the region's market growth.
Some of the significant players playing a leading role in the North American Medical Camera Market include Haag-Streit USA (U.S.), Danaher Corporation (U.S.), Carl Zeiss Meditec AG (Germany), Allied Vision GmbH (Germany), Topcon Corporation (Japan), Nikon Corporation (Japan), SPOT Imaging Solutions (U.S.), JOEL Ltd. (Japan), Stryker Corporation (U.S.), and Olympus Corporation (Japan).
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