Stryker, Olympus Lead South Korea Surgical Camera System Market Through Continued Innovation

Technological innovations continue to drive the surgical camera market and are responsible for upward pressure on the overall average selling price in South Korea.

According to a new series of reports on the South Korean market for hybrid and integrated operating room equipment by iData Research, High Definition (HD) camera systems have become the operating room standard in South Korea, which has created competition, causing the average selling price (ASP) to decrease. Some manufacturers are already producing their fourth generation HD camera systems, which has also contributed to the decline in ASP.

The surgical camera market size, as of 2015, is purely determined by the sales of High Definition (HD) systems since Standard Definition camera (SD) sales have become obsolete. Therefore, conversion to HD systems is no longer a strong market driver as it has been in years prior. The total surgical camera system market includes all High Definition (HD) camera heads and Camera Control Units (CCUs). The market for HD surgical camera heads includes both 1-chip and 3-chip camera heads, although the vast majority of camera heads included in the surgical camera head market are 3-chip.

The price variation for these products in the South Korea is quite significant. Certain HD camera systems can be bought at approximately $17,000 while others retail at over $50,000. Certain manufacturers offer up to 75% discounts on their camera systems if they are bundled with other equipment. The entry of new competitors and systems will result in the ASP continuing to decrease and place downwards pressure on total market growth.

The main driver of growth in the market is the replacement of HD camera heads and the construction of new operating rooms (OR). HD has become a necessity in the medical world as HD surgical cameras offer a superior image to their SD counterparts. Continuous technological advancement in this field will further create demand in the market, which will in turn drive growth in the number of units sold and the overall ASP.

The majority of HD CCUs are backwards compatible with SD surgical cameras, digital capture devices and displays and have the ability to up-convert SD signals to HD or down-convert HD signals to SD. This feature appeals to hospitals with limited capital budgets that cannot afford to upgrade all of their devices at once, further driving unit sales growth.

"Medical facilities must purchase the most recent CCUs to be able to acquire the highest picture quality from the camera head," explains Dr. Kamran Zamanian, CEO of iData. "Since picture quality continues to improve, new products enter the market every year, resulting in the steady growth of the market."

The arrival of the Arthrex Synergy HD3 camera system changed the dynamics of the market. These systems offer a cost-effective option for hospitals. Arthrex also cuts cost during the manufacturing process by constructing an entire system at once rather than each component separately. The fast gain in market share by Arthrex may prompt more manufacturers to put out similar systems.

Stryker is the leading competitor in the South Korean market for surgical camera systems. The company offers the 1188, 1288 and the 1488 HD 3-chip camera heads. Olympus is the second leading competitor of the total camera systems market. The company offers the VISERA ELITE, which is a cart-based imaging platform system that has connection abilities to many rigid and flexible scopes across multiple specialties. In its portfolio, Olympus also provides 3-chip HD autoclavable camera heads. Olympus is very strong in the GI scope market, which helps it maintain its market share for surgical cameras. Other competitors in the South Korean surgical camera market include Karl Storz, MAQUET, and Smith & Nephew among others.

For Further Information
More on the surgical camera system market in South Korea can be found in a suite of reports published by iData Research entitled the South Korean Market Report Suite for Hybrid and Integrated Operating Room. The suite covers reports on the following markets: Integrated Operating Rooms, Hybrid Operating Rooms, Surgical Camera Systems, Image Capture and Recording Devices, Surgical Displays, Surgical Light Sources, Surgical Lighting, Surgical Booms, and Surgery Tables.

The iData report series on hybrid and integrated operating rooms covers the United States, China, Japan, South Korea and 15 countries in Europe encompassing Germany, France, the United Kingdom, Italy, Spain, Benelux (Belgium, Netherlands and Luxemburg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about surgical camera market data or procedure data, register online or email us at info@idataresearch.net for a South Korean Market Report Suite for Hybrid and Integrated Operating Room brochure and synopsis.

About iData Research
iData Research is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Laparoscopy, Urology, Gynecology, Vascular Access, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics, Dental Operatory Equipment and more. For more information, visit www.idataresearch.com.