Surgical Microscopes Market Overview (2021-2030)
The global surgical microscopes market size was valued at $612.79 million in 2020, and is projected to reach $1,399.09 million by 2030, growing at a CAGR of 8.6% from 2021 to 2030. Surgical microscope is an instrument which is used to optimize visibility of root canal details to identify and remove fractured root canal instruments. It is also known as operating microscope. It provides adjustable magnification, bright illumination, and clear visualization of the surgical field. It is significantly advanced in the technical aspects of high-end optics and bright &shadow-free illumination.
The surgical microscopes market size was valued at $612.79 million in 2020. Global market growth is majorly driven by increase in number of surgeries such as cosmetic surgery, laparoscopic surgery, neuro-surgery; rise in various types of cancer leading to more surgical procedures; and development of new surgical instruments by large number of key players.
According to the Center for Disease Control and Prevention, 25.9% of people suffered from dental disorders in U.S. Thus, rise in burden of dental disorders increases the demand for surgical microscopes to identify the infection, which is anticipated to foster the growth of the surgical microscopes industry. Furthermore, raise in geriatric population leads to various types of diseases, increase in number of plastic surgeries leads to surge in usage of surgical microscope, which are the factors that fuel the surgical microscopes market forecast. According to World Health Organization approximately 235 million major surgical procedures were performed worldwide in 2019. According to the National Cancer Statistics in 2020, there were 1,806,590 new cases of cancer in the U.S.
The growth in number of surgeries can be attributed to the rapidly increasing geriatric population that is anticipated to boost the growth of the surgical microscopes market size. According to American Society of Plastic Surgeons, 15.6 million cosmetic surgeries were performed in 2020. Furthermore, increase in number of product approvals are expected to provide remunerative opportunities for the expansion of the global surgical microscopes market share during forecast period.
Impact Of Covid-19 On Surgical Microscopes Market (Pre And Post Analysis)
Coronavirus (COVID-19) was discovered in late December in Hubei province of Wuhan city in China. The disease is caused by a virus, namely, severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2), which is transmitted from humans to humans. After its discovery in Wuhan, the disease has rapidly spread to other parts of the globe. Moreover, this virus causes various symptoms in a patient, which range from common symptoms to serious symptoms. For instance, the common symptoms include fever, dry cough, and fatigue
Serious symptoms include difficulty in breathing or shortness of breath, chest pain or pressure, and loss of speech or movement. Furthermore, the virus has a high potential of lethality in geriatric population. On March 11, 2020, the World Health Organization made an assessment that COVID-19 can be characterized as a pandemic. In addition, there are no drugs that are currently licensed for the treatment of COVID-19 treatment or prevention. Thus, social-distancing is observed as the most important measure to stop the spread of this disease.
To maintain social distancing, various countries across the world have adopted nationwide lockdowns. The COVID-19 pandemic is an unprecedented global public health challenge and is anticipated to have a negative impact on the surgical microscopes industry. Social-distancing is observed as the most important measure to stop the spread of this disease. Furthermore, to maintain social distancing, various countries across the world have adopted nationwide lockdowns. This is the factors which lead to a decline in the surgical microscopes market share capitalization of major companies across the world.
Ent segment was the leading segment during forecast period.
Surgical microscope market segmentation
The surgical microscope market is segmented on the basis of application, end user, price range, and region. By application, the market is categorized into dentistry, ENT, gynecology & urology, neurosurgery & spine surgery, oncology, ophthalmology, and plastic & reconstructive surgery. the basis of end user, it is divided into hospitals and out-patient facilities. On the basis of price range, it is divided into low-range, mid-range, and premium-range.
Outpatient Facilities segment was the leading segment during forecast period.
Region-wise, the surgical microscopes market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, Spain, and rest of Europe), Asia-Pacific (Japan, China, Australia, India, South Korea, and rest of Asia-Pacific), and LAMEA (Brazil, Saudi Arabia, South Africa, and rest of LAMEA).
By Price Range
Low-Range segment is projected to be the dominating segment throughout the forecast period.
Depending on application, the ophthalmology segment dominated the market in 2020, and this trend is expected to continue during the forecast period, owing to increase in R&D activities in the pharmaceutical &medical device industry, rise in demand for use in surgical procedure, and surge in adoption of surgical instruments. However, the ENT segment is expected to witness growth during the forecast period, owing to increase in number of surgeries and rise in number of key players for development of surgical microscopes in the medical device industry.
Asia-Pacific is expected to experience growth at the highest rate, registering a CAGR of 8.9% during the forecast period.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the surgical microscopes market analysis from 2020 to 2030 to identify the prevailing surgical microscopes market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the surgical microscopes market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global surgical microscopes market trends, key players, market segments, application areas, and market growth strategies.
Surgical Microscopes Market Report Highlights
Market Size By 2030
USD 1.4 billion
CAGR of 8.6%
2020 - 2030
By Price Range
Key Market Players
ARRI AG, Alcon Laboratories, Inc., Alltion Co., Ltd., Carl Zeiss, Haag-Streit U.S., ACCU-SCOPE Inc., Danaher Corporation, Topcon Medical Systems, Inc., TAKAGI SEIKO CO., LTD., Olympus Corporation
This section provides opinions of top level CXOs in thesurgical microscope market. According to the insights of CXOs, increase in number of cosmetic surgeries & dental surgeries, surge in incidences of chronic diseases, and advancements in new device launches are all attributed to propel growth of the surgical microscope market.
CXOs further added greater consumer awareness &demand for preventive healthcare services, escalating demand for healthcare services from overall population, and new advancements are predicted to broaden surgical microscope clinical applications and increase the number of product approvals. Furthermore, use of surgical microscope by medical professionals contributestoward growth of the market.
The market has gained interest of healthcare companies owing to focus on preventive facilities provided to patients who are undergoing critical gynecological surgeries, which are more complex than other health conditions. This has led to increase in utilization of surgical microscope; thus is a great opportunity that further propels growth of the market.
North America is expected to witness highest growth, in terms of revenue, owing to rise in geriatric population, presence of key players, and advancements in healthcare investments. Asia-Pacific was the second largest contributor to the market in 2020, and is expected to register fastest CAGR during the forecast period, owing to increase in number of cosmetic surgeries and unmet needs for advanced surgical microscope devices. However, high cost of installation and maintenance restrain the market growth during the forecast period.