Surgical Microscopes Market Size And Forecast
Surgical Microscopes Market was valued at USD 928.6 Million in 2019 and is projected to reach USD 2.19 Billion by 2027, growing at a CAGR of 11.4% from 2020 to 2027.
Factors such as increasing R&D activities on tissue clearing and targeted cell labeling for brain functions and growing demand for surgical/operating microscopes for microsurgeries of the brain and spine are the major drivers for the growth of the neuro & spine surgery segment. The Global Surgical Microscopes Market report provides a holistic evaluation of the market. The report offers comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.
Global Surgical Microscopes Market Definition
Surgical microscope is a mechanically or electrically operated optical device, specifically designed for use in surgical settings to perform microsurgeries. It has a combination of lenses that provides stereoscopic vision, magnification, and illuminated image of the surgical area. Surgical microscopes are ergonomically designed to provide strain-free operation to users. These microscopes find applications in dentistry, ENT, urology, gynecology, neurosurgery & spine surgery, ophthalmology, oncology, and plastic & reconstructive surgeries.
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Global Surgical Microscopes Market Overview
Most of the current intraoperative surgical procedures are based on established white-light reflectance and depend on the surgeon’s ability to differentiate between adjacent normal tissue and diseased tissue. However, it can be extremely challenging even for a well-trained and experienced surgeon to accurately differentiate between diseased tissue & normal tissue. This is especially true while operating on a tumor where the margins are not easily detectable under white-light reflectance.
Owing to technological advancements, there has been a paradigm shift in the usage pattern of surgical/operating microscopes. Surgical/operating microscopes used in complex procedures such as neurosurgery and ophthalmic surgery cost between ~USD 40,000 and ~USD 150,000 that is a major factor limiting their adoption. In addition to this, recurrent expenses in the form of maintenance of these microscopes may result in high operational costs. This high cost results in the dependence of users on private funding. Thus, the high cost of advanced surgical/operating microscopes restrains the growth of the surgical/operating microscopes market during the forecast period.
The emerging markets are home to more than 85% of the global population. With the increase in prevalence of lifestyle diseases, there is a large pool of patients in the emerging nations that require medical assistance, including surgeries. Over time, much attention has been given to medical care accessibility in emerging countries. With the increase in the purchasing power of the growing middle-class population in the emerging nations, a rising number of people are able to afford essential care, including MIS procedures. Hence, the growing middle class in emerging markets will drive the growth of the surgical/operating microscopes market.
Global Surgical Microscopes Market Segmentation Analysis
The Global Surgical Microscopes Market Segmented On The Basis Of Application, End User And Geography.
Surgical Microscopes Market, By Application
• Dentistry
• ENT
• Gynecology & Urology
• Neurosurgery & Spine Surgery
• Oncology
• Ophthalmology
• Plastic and Reconstructive Surgery
Based on Application, the market is bifurcated into Dentistry, ENT, Gynecology & Urology, Neurosurgery & Spine Surgery, Oncology, Ophthalmology, Plastic, and Reconstructive Surgery. Neurosurgery and spine surgery was one of the major segments in 2019. Rising prevalence of brain disorders, as well as the complexity of their treatment, has led to the adoption of advanced techniques that involve the use of surgical microscopes.
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Surgical Microscopes Market, By End User
• Hospitals
• Outpatient Facilities
Based on End User, the market is bifurcated into Hospitals, Outpatient Facilities. The hospital is the largest end-use segment of surgical microscopes owing to the higher number of patient admissions and surgeries performed in hospitals and greater financing capabilities.
However, the physician/dentist clinic segment is growing at a significant rate. The availability of smaller operational microscopes and the growing field of dentistry are among the factors contributing to the growth of this segment.
Surgical Microscopes Market, By Geography
• North America
• Europe
• Asia Pacific
• Rest of the world
Based on regional analysis, the Global Surgical Microscopes Market is classified into North America, Europe, Asia Pacific, and Rest of the world. Asia Pacific market is anticipated to witness the fastest growth over the forecast period. High incidence of ophthalmic disorders, increasing medical tourism, and the rising number of surgeries in inpatient and outpatient settings are among the major factors driving the market in the region. In addition, favorable government policies to improve the healthcare system and rapid economic development in many countries in the region are some of the factors anticipated to boost the market over the forecast period.
Key Players In Surgical Microscopes Market
The “Global Surgical Microscopes Market” study report will provide a valuable insight with an emphasis on global market including some of the major players such as Alcon, Inc. (Novartis), Topcon Corporation, Accu-Scope Inc., Alltion Co. Ltd., Carl Zeiss Meditec AG, ARI Medical Technology Co., Ltd., Takagi Seiko Co., Ltd., Olympus Corporation, Haag-Streit Surgical GmbH and Leica Microsystems.
Our market analysis also entails a section solely dedicated to such major players wherein our analysts provide an insight into the financial statements of all the major players, along with its product benchmarking and SWOT analysis. The competitive landscape section also includes key development strategies, market share and market ranking analysis of the above-mentioned players globally.
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