US and European visualization & high-tech market will grow to over $2
billion by 2011, according to Millennium Research Group
WALTHAM, Mass., April 17 /PRNewswire/ -- According to Millennium Research Group's US Markets for Visualization and High-Tech Devices 2008 and European Markets for Visualization and High-Tech Devices 2008 reports, the visualization device market in these regions was worth a combined total of over $1 billion in 2007. This market will see rapid growth, driven by the adoption of true high-definition (HD) camera systems for use in endoscopic procedures, reaching more than $2 billion by 2011. Given its ability to sharpen images captured during surgery, HD technology is expected to revolutionize both the US and European visualization device markets.
In the US, sales of HD camera systems are expected to completely replace those of standard-definition three-chip camera systems by 2010. In fact, HD-formatted devices will become the new standard of care for imaging in the US hospital environment. Although adoption will be slightly slower in the European market, HD devices will still dominate new endoscopic camera system sales by 2012.
"Some industry experts have suggested that the development of HD technology is the biggest event to occur in imaging since the introduction of color imaging," says Tiffanie Demone, Analyst at Millennium Research Group. "The adoption of HD camera systems in the US and European markets will be the primary revenue driver in the visualization market through 2011. This adoption will not only increase camera sales, but will also spur growth in video peripheral device sales."
Millennium Research Group's Visualization and High-Tech Devices 2008 report series, which includes US and European reports, provides coverage of key industry competitors, including CONMED-Linvatec, Karl Storz, Richard Wolf, Smith & Nephew, Stryker, and Olympus.
About HD Endoscopic Camera Systems
HD endoscopic camera systems are used in surgical endoscopy. These systems comprise a camera head and a camera control unit, which function together to capture endoscopic images. Camera heads are charge-coupled devices that convert pixels in the image into electrical charges based on the pixel's color in the color spectrum, thereby allowing physicians to view the surgical site and internal structures in color.
About Millennium Research Group
Millennium Research Group (http://www.MRG.net), a Decision Resources,
Inc. company (http://www.DecisionResources.com), is the global authority on
medical technology market intelligence and a leading provider of strategic
information to the health care sector. Focused solely on the medical
device, pharmaceutical, and biotechnology industries, the company provides
its clients with the benefits of its specialized industry expertise through
published reports and customized consulting services.
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|SOURCE Millennium Research Group|
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