What is Video Endoscopy?
During diagnostic and therapeutic minimally invasive surgery procedures, video endoscopy systems enable the surgeon to view live, color videos of the inner body. Video Endoscopy has been around since the 1980s and has constantly been improved over the years to create better visualization. Typically, a video endoscopy system consists of a camera control unit (CCU), image management device, surgical display, light source, endoscopic video camera, medical photo printer, and an endoscope. The market drivers include the increased popularity surrounding 4K systems and the replacement sales of outdated systems. Due to COVID-19, the video endoscopy market experienced a substantial drop in sales in 2020. However, this market will recover and remain stable.
Who are the Global Leaders Within This Market?
This analysis consists of 3 companies that are the leaders in the global video endoscopy market. Each company is analyzed to provide exclusive insights surrounding market shares, product portfolios, and previous acquisitions. The companies are as follows:
- Karl Storz
1 – Olympus
Olympus is a global international company. This company has established itself as one of the world’s leading manufacturers of optical and digital equipment. Olympus focuses mainly on the endoscopy market and has been a competitor in the GI endoscopic device market since the 1950s.
Within the video endoscopy market, Olympus acts as the leading competitor. As the number one manufacturer of endoscopes globally, Olympus utilized its trusted and established brand name to capture a significant share of the video endoscopy market. In 2015, Olympus released the VISERA™ 4K UHD camera system, making it one of the first companies to offer a 4K camera system. In 2021, Olympus announced its agreement to acquire Quest Photonic Devices, allowing the company to strengthen its surgical endoscopic capabilities. Despite its strong position in this market, aggressive competition from group purchasing organizations, global medical corporations, and smaller companies motivate Olympus and the companies innovative abilities.
2 – Stryker
Stryker is one of the world’s leading medical technology companies. After being founded in 1946, Stryker has grown to offer a diverse array of innovative medical technologies. The company offers three product groups: medical and surgical, reconstructive and neurotechnology, and spine.
Within the video endoscopy market, Stryker acts as the second-leading competitor. In 2019, the company introduced its first 4K camera system known as the 1688™ Advanced Imaging Modalities (AIM) 4K Platform. This 4K camera system acts as a complete visualization platform for surgical specialties. Stryker similarly offers the SDC3™ HD Information Management System that has increased in sales due to the success of the companies camera systems. Because Stryker is a global company, it is in constant competition, defending its share in several markets against competitive sets.
3 – Karl Storz
Karl Stroz is a company that specializes in ENT instruments, headlamps, and binocular loupes. The company segments itself into four business segments: human medicine, industrial group, veterinary medicine, and service.
Within the video endoscopy market, Karl Storz acts as the third-leading competitor. Karl Storz, as a company, is known for its high customer satisfaction and service-oriented abilities. This company is also private and focuses heavily on the longevity of its products. Karl Stroz offers extended service contracts and warranties that have increased the companies popularity within this market. In 2017, Karl Storz launched its native 4K imaging platform: Image1 S 4U. This product contains two of the companies’ imaging techniques, Clara and Chroma. Because this company is large and competes in multiple global markets, competition is tough, and the company needs to fight for growth and increasing share.
Three large companies fight for market share within the video endoscopy market. Olympus, Stryker, and Karl Storz each maintain significant shares within the market. Their success is due to their unique product portfolios and ability to innovate within a saturated market. Olympus holds the leading position, backed by its reputable and reliable brand name and advanced 4K camera systems. Stryker comes in as the second competitor and succeeds with its advanced imaging modalities and information systems. Lastly, Karl Storz comes in as the third competitor. Karl Storz remains a unique competitor as the company remains service-oriented and builds upon its strong customer relations. Despite the companies innovation and growth within this market, other companies are striving for the same level of success, and as a result, the competition will never end.
Insights on the Video Endoscopy Market
Find detailed information on market size/trends, market shares for the top competitors, forecasts, growth rates, units sold, average selling prices, and more at the links below: