Increased prevalence of ophthalmic diseases among geriatric population across the globe, surge in hospital admissions, and rise in investments to tackle chronic diseases drive the growth of the global surgical microscopes market. On the other hand, certain government regulations against the adoption of specific surgical microscopes hinder the growth to some extent. However, development of innovative instruments in the healthcare sector and launch of various solutions for fast, & accurate diagnosis are anticipated to create lucrative opportunities in the industry.
Surgical microscopes market was estimated at $612.79 million in 2020 and is expected to hit $1.39 billion by 2030, registering a CAGR of 8.6% from 2021 to 2030.
The demand for surgical microscopes has witnessed tremendous growth due to growth in global geriatric population, increase in R&D activity in life science sector, growth in health care infrastructure, and increase in demand for minimally invasive surgeries. In addition, governmental funding & support for implementing the healthcare infrastructure and technological advancement are some of the factors anticipated to play a major role in the growth of the developed markets. However, sale of used and refurbished equipment and high pricing of equipment in developing region are some of challenges, which can hamper the growth of the market to some extent during the forecast period. "Technologically advanced products and customizations for clinical and pre-clinical applications have enabled Tier II and Tier III players to penetrate into the market; while, Tier I players have strengthened their market position through organic growth and acquisitions strategies." Says Analyst, Jayant Nannore, at AMR
Ophthalmology segment dominated the market in 2021 with one-fourth market share, and is expected to maintain its dominance throughout the forecast period due to increase in population undergoing ophthalmic surgeries worldwide. Moreover, ENT segment is projected to exhibit higher growth rate among all the other applications, closely followed by plastic & reconstructive surgery and oncology segments.
The low-range segment to retain the lion's share-
By product type, the low-range segment held the major share in 2020, garnering more than two-fifths of the global surgical microscopes market. The same segment is also projected to cite the fastest CAGR of 8.9 % throughout the forecast period, due to rapid development of surgical microscopes.
The outpatient facilities segment to dominate by 2030-
By end-user, the outpatient facilities segment contributed to the lion's share in 2020, holding nearly three-fourths of the global surgical microscopes market. The same segment is also expected to manifest the fastest CAGR of 8.7% from 2021 to 2030, due to rise in their usage for the diagnosis of diseases.
North America held the major share in 2020-
By region, North America dominated in 2020, garnering more than two-fifths of the global surgical microscopes market. This is attributed to the robust infrastructure provided for research activities and presence of key players across North America. The market across Asia-Pacific, however, is expected to cite the fastest CAGR of 8.9% throughout the forecast period, due to increase in use of surgical microscope for the detection of infections, rise in R & D activities for new product launch, and surge in investments in the healthcare sector.
Key players in the industry-
- Haag-Streit U.S.
- Alcon Laboratories, Inc.
- Leica Microsystem GmbH
- ARRI AG
- Alltion (Wuzhou) Co., Ltd.
- Olympus Corporation
- Global surgical corporation
- TAKAGI SEIKO CO., LTD.
- Carl Zeiss
- Topcon Medical Systems, Inc.
0 Comments