Olympus Corp plans to advance innovations in the MedTech industry by collaborating with startups that specialize in the field of medical devices, digital solutions, and diagnostics. This is expected to improve the patient outcomes and advance the diagnosis and treatment of various diseases, says GlobalData, a leading data and analytics company.

Olympus Innovation Ventures, a fully owned subsidiary of Olympus Corp, was established in 2021 to support startups that provide digital solutions to diagnose and treat diseases. As a first step, Olympus Innovation Ventures took part in the series A funding for Virgo Surgical Video Solutions Inc to support the development of artificial intelligence-powered platforms for endoscopy procedures.

GlobalData’s research reveals that Olympus Corp was the market leader for endoscopy devices, accounting for around 23% of the global market in 2021.

Chetna Kaushik, Medical Devices Analyst at GlobalData, comments: “Olympus Corp will strengthen its position in the global endoscopy market while the partner companies can leverage the investments, technical expertise, and vast distribution network of Olympus Corp.”

Through Olympus Innovation Ventures, Olympus Corp plans to make further investments, especially in the fields of urology and respiratory care. MedTech companies planning to make advancements in this space can use this as an opportunity to gain market share.

Kaushik concludes: “With market leaders such as Olympus Corp partnering with startups, a rapid advancement can be expected in the field of MedTech, resulting in better solutions.”