Market Research Report
Surgical Microscopes Market Size By Device Type, By Application, By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027
|Surgical Microscopes Market Size By Device Type, By Application, By End-use, Industry Analysis Report, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2021 - 2027|
Published: August 25, 2021
Global Market Insights Inc.
Content info: 200 Pages
Delivery time: 2-3 business days
The surgical microscopes market is expected to witness considerable growth by 2027 owing to rising prevalence of chronic diseases across the globe. Moreover, the growing geriatric population worldwide is anticipated to augment market growth over the forecast period.
Surgical microscopes are increasingly employed in operating rooms as they offer adjustable magnification, excellent illumination, and clear view of the surgical field, thereby ensuring enhanced surgical precision. Additionally, technological advancements and research capabilities have led to the development of state-of-the-art surgical microscopes, which has bolstered product demand.
Notably, leading business players are adopting lucrative strategies to establish a firm foothold in the rapidly developing market, thereby influencing industry dynamics favorably. For instance, in March 2021, Leica Microsystems, a leading designer and manufacturer of opto-digital imaging solutions in the microscopy sphere, announced the acquisition of Aivia, a leading AI enabled visualization, analysis, and interpretation software system, from SVision LLC, an American software firm. The acquisition enabled Leica to utilize Aivia's advanced AI enabled visualization capabilities for expanding its product offerings in the opto-digital solutions space.
The surgical microscopes market has been segmented based on application, end-use, device type, and region. Based on device type, the market has further been divided into wall mounted, tabletop, on casters, and ceiling mounted.
In 2020, the on casters device type segment accounted for the largest share with a valuation of around USD 669 million and is projected to see steady growth over the analysis period. Various functional advantages provided by on casters microscopes, such as optimum stability, better maneuvering, and repositioning functionality, are likely to fuel consumer demand through the forecast period.
In terms of application, the market has been segregated into ENT surgery, oncology, gynecology, spine surgery, ophthalmology, neurosurgery, plastic & reconstructive surgery, urology, dentistry, and others. The oncology segment held about 7.7% market share in 2020 and is expected to observe significant growth at a CAGR of nearly 11.5% over the assessment timeline. Surging incidences and mortality rate of cancer, along with the advent of interventional oncology, are set to propel segmental expansion over the study timespan.
With respect to end-use, the market has been bifurcated into ambulatory surgical centers, hospitals, and others. The surgical microscopes market from the ambulatory surgical centers segment is slated to progress at a steady pace to reach a valuation of around USD 778 million by the end of 2027. Escalating demand for cost-effective surgical treatments, shorter stays, and access to cutting-edge medical technology is foreseen to boost segmental development over the forthcoming years.
From the regional perspective, the Middle East & Africa surgical microscopes market was valued at more than USD 35 million in 2020 and is speculated to progress at a robust pace over 2021-2027. Mounting number of people diagnosed with chronic diseases requiring surgical interventions across MEA is estimated to foster market adoption in the region.