Market Research Report
Surgical Microscope Market Share, Size, Trends, Industry Analysis Report, By Product (Ophthalmic Microscopes, ENT Microscopes, Colposcopy); By Application; By End-Use; By Region; Segment Forecast, 2021 - 2028
|Surgical Microscope Market Share, Size, Trends, Industry Analysis Report, By Product (Ophthalmic Microscopes, ENT Microscopes, Colposcopy); By Application; By End-Use; By Region; Segment Forecast, 2021 - 2028|
Published: June 1, 2021
Polaris Market Research
Content info: 129 Pages
Delivery time: 1-2 business days
The global surgical microscope market size is expected to reach USD 2.07 billion by 2028 according to a new study by Polaris Market Research. The report "Surgical Microscope Market Share, Size, Trends, Industry Analysis Report, By Product (Ophthalmic Microscopes, ENT Microscopes, Colposcopy); By Application; By End-Use; By Region; Segment Forecast, 2021 - 2028" gives a detailed insight into current market dynamics and provides analysis on future market growth.
According to the World Health Organization (WHO), cancer is the leading cause of death around the globe. Thus, there is a great demand for surgical microscopes to improve diagnostic efficiency and decide prognosis of a disease. Moreover, increase in the number of surgeries, advancements in healthcare facilities, customized microscopy solutions, and technological advancements are the major factors driving the market growth.
Moreover, growth in geriatric population, rise in adoption of minimally invasive ENT surgeries, and improved reimbursement policies for ENT surgeries further bolsters the growth of the market. Furthermore, surge in the number of outpatient facilities and increased per capita healthcare expenditure of various countries supplement the market growth.
In 2009, average health spending reached 9.5% of gross domestic product, up from 8.8% in 2008. The healthcare spending in most of the OECD countries has increased by margins greater than the gross domestic product. Moreover, the U.S. spent USD 1.9733 trillion for health care expenditures in 2005, which was 15.9% of the gross domestic product (GDP); of which, 29.0% of the expenditures were allocated to surgical revenues.
Thus, increase in population coupled with expansion of healthcare infrastructure and favorable scenarios for medical reimbursement programs have led to surge in the adoption of surgical microscopes. The adoption of the product in ENT application has increased due to rise in prevalence of chronic sinusitis, growth in geriatric population, increase in adoption of minimally invasive surgeries, and implementation of favorable reimbursement policies for ENT surgeries.
Technological advancements in surgical microscopes such as integrating intelligence, video, intraoperative-imaging, and navigation technologies enable surgeons to improve their decision-making at the point-of-care (POC) centers and provide best possible outcomes to patients.
The product is widely used in ophthalmology, as these products help surgeons to perform intricate surgeries with precision and visualize the anatomy of small cavities. Increasing incidence of eyesight and vision disorders has fueled the use in ophthalmic applications across the globe.
In addition, the dentistry segment is expected to witness significant growth in the near future, especially in the developing regions due to increase in the number of out-patient facilities and growing per capita healthcare expenditure. Growth in neurosurgery & spine surgery application segments is expected to be driven by surge in research and development activities related to tissue clearing and targeted cell labeling for brain functions.
The governments of various countries have funded research & development activities to support and promote medical advancements. Moreover, the healthcare sector of developing countries has witnessed tremendous development in the recent years.
Emerging economies, such as India and China have increased in their spending on healthcare facilities, which is a positive indicator for market growth. Thus, market players in the value chain are optimistic about the growth of the market across emerging economies in the near future.
The prominent players profiled in the report are Novartis AG, Danaher Corporation, Carl Zeiss AG, Leica Microsystems, Takagi Corporation, Inc., Seiler Precision Microscopes, Topcon Corporation, Alltion (Wuzhou) Co. Ltd., Alcon Laboratories, Haag-Streit Surgical, Olympus Corporation, Accu-scope, Inc., Labomed Microscopes, and Prescott's Inc. The major players operating in the industry have adopted various strategies such as business and capacity expansion, acquisitions, partnerships, mergers, and application & product development.
Polaris Market Research has segmented the surgical microscope market report on the basis of product, application, end-use, and region:
Surgical Microscope, Product Outlook (Revenue - USD Million, 2016 - 2028)
Ear, Nose, and Throat (ENT)
Surgical Microscope, Application Outlook (Revenue - USD Million, 2016 - 2028)
Neuro and Spine Surgery
Plastic & Reconstructive Surgeries
Surgical Microscope, End-Use Outlook (Revenue - USD Million, 2016 - 2028)
Ambulatory Surgical Centers
Surgical Microscope, Regional Outlook (Revenue - USD Million, 2016 - 2028)
Middle East & Africa