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The surgical microscope market size is estimated to grow by USD 859.77 million at a Compound annual growth rate (CAGR) of 11.19% between 2022 and 2027. The market is experiencing growth due to a rise in cataract surgeries conducted in ambulatory settings. Initiatives aimed at boosting awareness of eye health and related treatments further contribute to this expansion. Additionally, the increasing prevalence of ophthalmic diseases is driving the demand for advanced surgical microscopes, addressing the need for precise and effective procedures in the field of ophthalmology.
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This market research and growth report extensively covers market segmentation by application (ophthalmology, neurosurgery and spine surgery, ENT, plastic and reconstructive surgery, and others), end-user (hospitals and ASCs), and geography (North America, Asia, Europe, and Rest of World (ROW)).
The ophthalmology segment is estimated to witness significant growth during the forecast period. One of the main reasons for the growth of the ophthalmology segment in the global surgical microscope market is due to the technological advances, which are transforming the healthcare scenario, including ophthalmology services.
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The ophthalmology segment was the largest segment and was valued at USD 338.33 million in 2017. Factors such as the rising geriatric population, growing awareness about eye diseases, and the increasing prevalence of ophthalmic diseases such as cataracts are significantly contributing to the growth of this segment. For instance, according to WHO, as of October 2021, approximately 2.2 billion people had near or distance vision impairments globally. Several Companies are investing in R and D activities and developing new and innovative products to enhance the quality of vision care. Hence, such development and product launches are expected to drive the growth of this segment which in turn will drive the surgical microscope growth during the forecast period.
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North America is estimated to contribute 36% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period. One of the major regions dominating the market is North America due to factors such as the rising number of new product launches, the growing presence of regional and global Companies, and research grants from government and non-profit organizations for medical research. Also, there is increasing funding for public and private universities and research centers from government and non-profit organizations, which is significantly contributing to the growth. Hence, such factors are expected to drive market growth during the forecast period.
The market is witnessing significant growth due to advancements in emerging technologies and the increasing demand for precision in surgical procedures. These microscopes offer features such as wide-angle illumination, red reflex illumination, and augmented reality (AR) microscopy, enhancing visualization during minimally invasive surgeries across various medical specialties, including neurosurgery, ophthalmic surgery, dental surgery, and otorhinolaryngology. Integrated surgical systems enable digitalization and image-guided capabilities, while 3D visualization and optimum lighting further improve surgical vision and stability, ensuring enhanced outcomes for patients.
Our researchers analyzed the data with 2022 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The expanding number of cataract surgeries performed in ambulatory settings emerges as a significant driver for market expansion. Cataracts and tonsillectomies are among the high-volume surgical procedures executed on a same-day basis in ambulatory surgery centers (ASCs) globally, thus positively influencing market growth. In numerous OECD countries, over 90% of cataract surgeries are conducted in ambulatory settings. Similarly, tonsillectomies are frequently performed on children suffering from chronic tonsillitis or breathing difficulties. These trends underscore the anticipated surge in market growth throughout the forecast period.
A key factor shaping the market growth is the new launches of surgical microscopes. Some of the major players in the market are introducing new products to cater to a broad audience spectrum and thereby dominate the market share. New product launches help these companies to enhance their product offerings and ensure diversification that will cater to broad end-users.
For instance, in March 2023, Olympus launched the VISERA Elite III surgical visualization platform endoscopy system, which is compatible with infrared and 3D observation functions. Therefore, such new product launches and developments are expected to continue and drive the market growth during the forecast period.
Burns caused by high-power illumination features in surgical microscopes are one of the key challenges hindering market growth. The light source must be very powerful in order to provide bright visualization in surgical microscopes, which can cause burn injuries to patients' tissue during surgeries.
These kinds of burns are frequent in most surgeries, such as ENT, hand, and plastic surgery, and it can last for more than three hours. Some of the major injuries that are caused by surgical microscopes include phototoxicity of the ocular surface and tear film, which results in decreased functionality of ocular cells. Hence, such factors are expected to hinder the growth of the market during the forecast period.
The market research report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market growth and forecasting report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Danaher Corp: The company offers surgical microscopes such as M320 T and ARveo 8 under its subsidiary called, Leica Microsystems.
The market growth analysis report also includes detailed analyses of the competitive landscape of the market and information about 20 market Companies, including:
Qualitative and quantitative analysis of Companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize Companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize Companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth driven by advancements in precision and emerging technologies. These microscopes offer features like wide-angle illumination and red reflex illumination, enhancing surgical visualization. Moreover, innovations such as Augmented Reality (AR) microscopy are revolutionizing surgical procedures, especially in minimally invasive fields like ophthalmic, dental, and cosmetic surgery. Integrated systems with digitalization capabilities cater to various medical specialties, ensuring optimum lighting, magnification, and image-guided systems for improved patient outcomes. Technologically advanced devices from key players like Carl Zeiss Meditec AG and Hagg-Streit Surgical GmbH are pivotal in enhancing surgical stability and recording capabilities. This growth is further propelled by factors such as healthcare infrastructure, rising disposable incomes, and the demand for 3D visualization in neurosurgery and ENT surgery segments. With diverse mounting options like floor-mounted, ceiling-mounted, and tabletop microscopes, the market caters to the evolving needs of hospitals, clinics, and other healthcare settings.
The market is witnessing a surge in demand, particularly for minimally invasive procedures in fields such as ophthalmic, dental, and otorhinolaryngology surgeries. Integrated systems and technological advancements are enabling precise procedures with improved sizing and image-guided capabilities, catering to both minimally invasive and open surgeries. Key players like Seiler Instrument, Inc are offering versatile options, including on-casters, floor-mounted, wall-mounted, and ceiling-mounted microscopes, catering to different surgical settings such as hospitals, physician clinics, and others. Segments like neurosurgery and spine surgery are experiencing significant growth, with facilities like Mater Private Hospital Brisbane adopting 3D robotic surgical microscopes for enhanced surgical outcomes. This diversification in offerings is driving the market forward, meeting the evolving needs of various surgical specialties and settings.
In ophthalmic and dental surgery, the demand for integrated surgical systems with image-guided microscope capabilities is on the rise. Surgeons are increasingly opting for minimally invasive techniques facilitated by versatile equipment like on-casters, floor-mounted, and wall-mounted surgical microscopes. These systems offer flexibility and precision, with features such as retractable casters ensuring mobility and stability during procedures. Such advancements cater to the evolving needs of surgical environments, enhancing patient outcomes and surgical efficiency.
The market forecasting report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
Market Scope |
|
Market Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 11.19% |
Market growth 2023-2027 |
USD 859.77 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
9.99 |
Regional analysis |
North America, Asia, Europe, and the Rest of the World (ROW) |
Performing market contribution |
North America at 36% |
Key countries |
US, Germany, UK, China, and Japan |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ACCU SCOPE Inc., Alcon Inc., Alltion Instrument Co. Ltd., ARI Medical Technology Co. Ltd., BMS Microscopes b.v., Carl Zeiss AG, CHAMMED CO. LTD., Danaher Corp., Gem Optical Instruments Industries, Global Surgical Corp., Huvitz Co. Ltd., Karl Kaps GmbH and Co. KG, Metall Zug AG, Olympus Corp., Seiler Instrument and Manufacturing Co. Inc., Synaptive Medical Inc., Takagi Seiko Co. Ltd., Topcon Corp., United Broadcast and Media Solutions, and Inami and Co. Ltd. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by End-user
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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