WALTHAM, Mass., April 17 According to Millennium ResearchGroup's US Markets for Visualization and High-Tech Devices 2008 and EuropeanMarkets for Visualization and High-Tech Devices 2008 reports, thevisualization device market in these regions was worth a combined total ofover $1 billion in 2007. This market will see rapid growth, driven by theadoption of true high-definition (HD) camera systems for use in endoscopicprocedures, reaching more than $2 billion by 2011. Given its ability tosharpen images captured during surgery, HD technology is expected torevolutionize both the US and European visualization device markets.
In the US, sales of HD camera systems are expected to completely replacethose of standard-definition three-chip camera systems by 2010. In fact,HD-formatted devices will become the new standard of care for imaging in theUS hospital environment. Although adoption will be slightly slower in theEuropean market, HD devices will still dominate new endoscopic camera systemsales by 2012.
"Some industry experts have suggested that the development of HDtechnology is the biggest event to occur in imaging since the introduction ofcolor imaging," says Tiffanie Demone, Analyst at Millennium Research Group."The adoption of HD camera systems in the US and European markets will be theprimary revenue driver in the visualization market through 2011. This adoptionwill not only increase camera sales, but will also spur growth in videoperipheral device sales."
Millennium Research Group's Visualization and High-Tech Devices 2008report series, which includes US and European reports, provides coverage ofkey 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 systemscomprise a camera head and a camera control unit, which function together tocapture endoscopic images. Camera heads are charge-coupled devices thatconvert pixels in the image into electrical charges based on the pixel's colorin the color spectrum, thereby allowing physicians to view the surgical siteand 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 medicaltechnology market intelligence and a leading provider of strategic informationto the health care sector. Focused solely on the medical device,pharmaceutical, and biotechnology industries, the company provides its clientswith the benefits of its specialized industry expertise through publishedreports and customized consulting services.All company, brand, or product names contained in this document may be trademarks or registered trademarks of their respective holders. For more information, contact: Amy Krohn Millennium Research Group 416-364-7776 x101 [email protected]
SOURCE Millennium Research Group