Market forecast and regional analysis for surgical microscopes

A surgical microscope is an optical tool that is primarily designed to perform microsurgeries in operating rooms. The stereoscopic vision, intensification, and illustrated image of the operative part are all provided by a combination of lenses in this device. Nowadays, surgical microscopes are a crucial tool for performing minimally invasive procedures in various specialties, including neurosurgery, dental surgery, cosmetic surgery, otorhinolaryngology, and ocular surgery.

In 2021, the market value of surgical microscope was worth USD 1077.087 million, and by 2030 it will be worth USD 2928.17 million, growing at an 11.75% CAGR during the forecast period.

A few other factors influencing the market growth are an effective increase in minimally invasive surgeries, rising technological advancements like wide-angle illumination, red reflex illumination, and more, and expanding product lines developed by market players.

Market Dynamics

Drivers

The global demand for surgical procedures such as dental, vascular, and other procedures has increased due to the aging population, which is more prone to disorder development, and the rising prevalence of various chronic diseases. These factors contribute to the growth of the surgical microscopes market. According to estimates from the United Nations on World Population Prospects for 2020, the frequency of individuals over 65 may increase from 9.3% of the global population in 2020 to more than 16.0% by 2050. According to WHO estimates from 2021, there were roughly 1 billion persons worldwide in 2020 who were 60 years of age or older. Due to this rise in the frequency of age-related chronic diseases and the demand for surgical treatments, the market for surgical microscopes is expanding.

Restraints

Major factors impeding the global market's overall growth include a rapid shift in microscopy techniques, a lack of surgical experience, and excessive surgical microscope magnification.

Opportunity 

An enormous opportunity for the market's overall growth has emerged and will prosper greatly in the future due to the enormous growth potential of emerging markets in microscopy like India, the Middle East, Brazil, and China, as well as the sudden rise in the applications of surgical microscopes in these regions.

Market Segmentation

By Type

On the basis of type, the surgical microscope market is segmented into wall-mounted, on-casters, and tabletop. 

In 2022, the on-caters segment was the largest market, with 46.5% of the revenue share. It is due to this equipment's superior portability, versatility, and low maintenance requirements. Surgical microscopy on casters is used in most surgical specialties, including dentistry, ophthalmology, neurology, cosmetic surgery, and ENT. Surgical microscopes on castors are easy for surgeons to move in any direction while saving room on the operating table. Due to the rise in demand, the on-casters device market will expand.

By Application

On the basis of application, the market is segmented into ENT surgery, ophthalmology, and dentistry.

The ophthalmology segment ruled the market in 2022 due to a growing patient base, growing demand for surgical instruments, and a rising number of cataract procedures. A large number of ophthalmic procedures require surgical microscopes. Also, the ophthalmology segment market is growing due to increasing R&D efforts in the pharmaceutical and medical device industries, an increase in demand for usage in surgical operations, and an increase in global use of surgical instruments.

By End-User

On the basis of end-user, the market is segmented into physician clinics and hospitals.

In 2022, the hospital segment held the largest market with a significant revenue share due to their higher rates of patient admission and surgery and better financial status. It is due to the acceptance of less invasive surgical instruments in hospital MIS procedures and the growing use of surgical/operating microscopes in challenging ENT, dentistry, and neurology procedures. Also, an exponential increase in cutting-edge surgical microscopes is a key driver that will drive market expansion. 

Regional Analysis

North America led the entire regional market in 2022 with USD 0.27 billion in revenue. Due to the availability of cutting-edge technology, skilled neurosurgeons, and osteopathic practitioners. Also, the prevalence of neurological and ocular illnesses is substantially higher in this region, which supports the expansion of the local market. Regional businesses are also releasing cutting-edge surgical microscope products to accelerate market growth. For instance, the Aesculap AEOS Robotic Digital Microscope was introduced in the United States in September 2020 by True Digital Surgery (TDS) and Aesculap Inc.

Key Players 

• Topcon Corporation 
• Novartis Ag 
• Carl Zeiss AG
• Danaher Corporation  
• Accu-Scope Inc
• Hagg-Streit Surgical GMBH 
• Olympus Corp.
• Takagi Seiko Co. Ltd
• Leica Microsystems
• Alltion (Wuzhou) Co Ltd.
• Karl Kaps GmbH & Co. Kg
• Alcon Inc.
• ARI Medical Technology Co., Ltd.
• Seiler Instrument Inc. 
• Synaptive Medical
• Chammed Co Ltd.

In 2021, the market value of surgical microscope was worth USD 1077.087 million. And by 2030 it will be worth USD 2928.17 million, growing at an 11.75% CAGR during the forecast period. The market is stimulate by the rising popularity of minimally invasive procedures. The rising prevalence of chronic diseases among the elderly, and technological developments in surgical microscopes.

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