PUBLISHER: Allied Market Research | PRODUCT CODE: 1090846
PUBLISHER: Allied Market Research | PRODUCT CODE: 1090846
The surgical microscopes market size was valued at $612.79 million in 2020, and is estimated to reach $1399.09 million by 2030, growing at a CAGR of 8.6% from 2021 to 2030.Surgical microscope is a solution to present problem of complex and difficult surgical interventions. The common examples of procedures that use surgical microscope include endodontic retreatment and anastomosis among others. The basic characteristic of an operational microscope is its design, which facilitates ease of operations to surgeons. The other parameters that define a surgical microscope are stereoscopic visualization, illuminating system for illumination of the operating field evenly, a stable but mobile stand with balanced suspensions, a magnification changer, and higher focal length for operating in depth.
The global surgical microscope market growth is majorly driven by alarming increase in number of neuro-surgeries; rise in government initiatives for development of pharmaceutical &medical device industry; and increase in number of approvals for surgical microscopes. In addition, as per the statistics provided by the American Society of Plastic Surgeons in 2019, approximately 1.8 million cases of cosmetic minimally-invasive surgeries were performed in the U.S. Moreover, as per the American Cancer Society Statistics 2021, in the U.S, there were about 44,280 new cases of thyroid cancer, out of which 12,150 were in men and 32,130 in women. Furthermore, in addition, the key players Olympus Corporation and Alcon Laboratories, which provide numerous surgical microscopes products, contribute toward the market growth. Hence, the rise in incidences of emergency surgeries and extensive use of surgical microscopes propel the growth of the market.
Increase in number of ENT disorders is the major factor that drives the global surgical microscope market. Rise in demand for surgical microscopes by medical professionals' acts as a key driving force for expansion of the global market.
Increase in incidences of chronic diseases in overall population is one of the major factors that drive the market. Chronic diseases are described as problems that persist a year or longer and need continuous medical treatment that limit everyday activities or both. Early diagnosis of chronic diseases increases chances of successful treatment. Therefore, healthcare providers continuously emphasize on early diagnosis of clinical disorders rather than spending heavily on expensive treatments. In addition, to cater to this issue, the World Health Organization (WHO) has launched several cancer prevention programs across different nations, such as India, Korea, and Ireland to lower the number of cancer cases. These programs intend to improve quality of life for cancer patients by implementing evidence-based strategies for prevention, early diagnosis, treatment, and palliation.
However, products recall by Food Drug Administration is anticipated to hinder the market growth. People, nowadays are more aware of health, which, in turn, compels them to maintain their health condition and increase the demand for surgical microscope. This has further encouraged many key players to enter emerging markets, thus offering a lucrative growth opportunity in the surgical microscope market.
By application, the market is segmented into dentistry, ENT, gynecology & urology, neurosurgery & spine surgery, oncology, ophthalmology, plastic, and reconstructive surgeries.
By end-user, the market is segmented into hospital and outpatient facilities. On the basis of price range, the market is segmented into low-range, mid-range, and premium range products. As per end user, it is divided into hospitals, ambulatory surgical centers, and others. Region wise, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
By Application
By End-User
By Price Range
By Region