Market Research Report
Microsurgical Instruments Market - Growth, Trends, and Forecasts (2020 - 2025)
|Published by||Mordor Intelligence LLP||Product code||922018|
|Published||Content info||115 Pages
Delivery time: 2-3 business days
|Microsurgical Instruments Market - Growth, Trends, and Forecasts (2020 - 2025)|
|Published: June 1, 2020||Content info: 115 Pages||
The significant factor attributing this market's growth is the growing incidence of chronic and lifestyle disorders, a rising geriatric population is becoming increasingly popular with plastic and reconstructive procedures, and the advantage of microsurgery over conventional surgery will upsurge the growth of microsurgical instruments market.
Microsurgery is a key component of plastic surgery. Some common microsurgery procedures are in which the utilization of microsurgical instruments are higher are breast reconstruction, vascularized bone flap transfer, toe transplantation, head and neck reconstruction, lymphatic reconstruction among others.
Plastic & Reconstructive Microsurgery is Expected to Hold the Largest Market Share in the Microsurgical Instruments Market
Dominant share is retained by the Plastic & Reconstructive Microsurgery segment owing to the attributes such as growing reconstructive & plastic surgery which is further expected to drive the market growth for microsurgical instruments.
As per the British Association of Aesthetic Plastic Surgeons (BAAPS), in United Kingdom, over 28,000 procedures took place in 2018, a increase of 0.1% on 2017, which is expected to drive the studied market during the forecast period.
According to the ASPS report, 1.8 million cosmetic surgical procedures, 15.7 cosmetic minimally invasive procedures, and 5.8 million reconstructive procedures were performed in 2018. Hence with the increasing number of procedures the market is expected to grow at a high rate.
North America Dominates the Market and Expected to do Same in the Forecast Period
North America is expected to dominate the overall microsurgical instruments market, throughout the forecast period. This is owing to factors such as the rising prevalence of chronic disorders such as arthritis, neuro-related disorder such as brain tumor surgery, rising geriatric population, growing demand of reconstructive surgery and other disorder will drive the market for microsurgical instruments market in the region.
As per the CDC estimates, by 2040, it is expected that around 78 million (26%) US people aged 18 years or older would have arthritis which is further expected to upsurge the demand of microsurgical instrument as the demand for micro and minimal invasive surgery are on-demand which is boosting the market growth.
The Microsurgical Instruments market is moderately competitive and consists of a few major players. In terms of market share, few of the major players are currently dominating the market. And some prominent players are vigorously making acquisitions and new product launches with the other companies to consolidate their market positions across the globe.