Abstract, Snapshot, Market Analysis & Market Definition: Global Surgical Microscopes Market
The global Surgical Microscopes market size is projected to reach US$ 1515.61 million by 2026, from US$ 788.75 million in 2020, at a CAGR of 11.5% during 2021-2026.The rising prevalence of chronic conditions, such as cancer, where surgical intervention is one of the primary treatment lines is another factor that drives the growth.
As per the World Health Organization (WHO) statistics, cancer is responsible for around 13.0% deaths globally. This factor is anticipated to drive the demand for surgical microscopes as these instruments reduce the throughput time for patients and can be helpful in increasing the diagnostic efficacy. As a result, the global market is anticipated to witness steady rise over the forecast period.
Geriatric population is the key target demographic segment as they are highly prone to various chronic disorders and age-related deformities. As per the WHO statistics, by 2025, there would be a two-fold hike in geriatric population. This is expected to further drive the demand for surgical microscopes. The demand for microsurgeries or minimally invasive surgeries is rising exponentially. These devices play a critical role in such procedures in terms of better visualization of the target site, minimum trauma, and speedy recovery of a patient, thereby supporting the industry growth substantially.
Technological advancements on the grounds of visibility, stability, and portability are expected to act as key factors for the rise in demand. Innovation and inclusion of advanced features such as Red Reflex stability, wide angle view, and augmented microscopy is anticipated to play a vital role in driving adoption of surgical microscopes in the coming years.
Market Segmentation, Outlook & Viewpoint: Global Surgical Microscopes Market
Type Market Segmentation & Outlook (Volume, Units; Revenue, USD Million, 2014 - 2025)
- On Casters
- Wall Mounted
- Table Top
- Ceiling Mounted
Application Market Segmentation & Outlook (Volume, Units; Revenue, USD Million, 2014 - 2025)
- Neurosurgery & Spine Surgery
- ENT Surgery
- Dentistry
- Oncology
- Gynecology
- Urology
- Ophthalmology
- Plastic & reconstructive surgeries
- Others
End-use Market Segmentation & Outlook (Volume, Units; Revenue, USD Million, 2014 - 2025)
- Hospital
- Physicians/Dentists Clinic
- Other Outpatients Setting
Key Players, Recent Developments & Regional Insights: Global Surgical Microscopes Market
The key application segments include ENT surgery, dentistry, oncology, gynecology, urology, ophthalmology, plastic and reconstructive surgery, neurosurgeries, and spine surgeries. Oncology held the dominant market share of around 27.0% in 2017. As mentioned, the rising prevalence and complexity of chronic conditions facilitated the use of advanced techniques including operating microscopes.
The oncology segment was followed by neurology and spinal surgeries, which is expected to expand at a lucrative CAGR of around 13.0% during the forecast period. Dentistry and ophthalmology segments are also anticipated to grow at a substantial pace with high demand for cosmetic dentistry and rising volume of cataract surgeries.
Type Insights
On the basis of type, the surgical microscopes market is divided into on casters, wall mounted, tabletop, and ceiling mounted. The on casters microscope segment held a significant market share in 2017 and is anticipated to register a promising CAGR over the forecast period. Portability and better cleaning maintenance capability of these devices are the key factors governing their growth.
Microscopes on-casters refer to devices mounted on single, double, or compound wheels. Mounting on wheels provides users an option of portability, greater flexibility, and easy cleaning capabilities. Many market players including market leaders such as Zeiss and Leica Microsystems are providing the option of portability for all surgical microscopes.
End-use Insights
The end-user segment includes hospitals and physicians or dentists clinic. Hospital is the largest end-user segment for operating microscopes. Rising volume of surgeries and supportive government financing capabilities, higher volume of patients and surgeries, and greater financing capabilities are the high impact rendering drivers for this segment. However, physicians or dentists independent clinic is anticipated to expand at a significant CAGR of 11.50% over the forecast period. The availability of smaller operating microscopes and booming dentistry industry are anticipated to drive the demand.
Regional Insights
North America emerged dominant with around 39.0% market share in 2017. The sophisticated healthcare facilities in this region, as well as the presence of reimbursement facility over medical treatments, facilitated the greater usage of this equipment. Moreover, prevalence of chronic disorders in this region is substantially higher than the global average, thus contributing to regional market growth.
Asia Pacific is anticipated to witness the fastest growth over the forecast period. The supportive government policies to improve healthcare infrastructure along with economic developments are anticipated to be the governing factors for the regional market growth.
Surgical Microscopes Market Share Insights
The key players operating in this industry include Carl Zeiss, Leica Microsystems, Allition (Wuzhou), Takagi Corporation, Topcon, Alcon, HAAG-STREIT SURGICAL, and Seiler. Upgrading of products, new launches, technological innovation, and strategic collaboration such as mergers and acquisitions are the key initiatives undertaken by these players. For instance, in August 2014, Alcon acquired WaveTec Vision, developer of intraoperative guidance system for cataract. This initiative helped Alcon to strengthen its product portfolio in the ophthalmic surgical market.
Key Insights Covered: Global Surgical Microscopes Market
1. North America, Europe, Asia Pacific, Middle East & Africa, Latin America market size (sales, revenue and growth rate) of Surgical Microscopes industry.
2. Global major manufacturers operating situation (sales, revenue, growth rate and gross margin) of Surgical Microscopes industry.
3. Global major countries (United States, Canada, Germany, France, UK, Italy, Russia, Spain, China, Japan, Korea, India, Australia, New Zealand, Southeast Asia, Middle East, Africa, Mexico, Brazil, C. America, Chile, Peru, Colombia) market size (sales, revenue and growth rate) of Surgical Microscopes industry.
4. SWOT analysis, New Project Investment Feasibility Analysis, Upstream raw materials and manufacturing equipment & Industry chain analysis of Surgical Microscopes industry.
5. Global market size (sales, revenue) forecast by regions and countries from 2019 to 2024 of Surgical Microscopes industry.
Research Methodology: Global Surgical Microscopes Market
- Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analyzed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please Request a Sample Report.
- Demand Side Primary Contributors: OEMs, Industrial Professionals, Researches, Suppliers and Distributors, Group Purchasing Organizations, Associations, Insurers, Universities, Technological Writers, Scientists, Promoters, Investors among others.
- Supply Side Primary Contributors: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, Regulatory Affairs Managers among other