An optical binocular, known as a surgical microscope, is employed to achieve a clear view of the tiny structures in the operating field to carry out delicate procedures. Surgical microscopes are frequently employed in the fields of neurosurgery, ophthalmology, dentistry, cancer, and urology.
In 2022, the market for surgical microscopes was USD 1.1 billion, and by 2030, it will be worth USD 2.5 billion, growing at an 11.3% CAGR during the forecast period.
The market will develop due to the aging population, rising incidence of chronic diseases, and rising use of minimally invasive procedures. Other significant drivers boosting the need for surgical microscopes are favorable reimbursement policies for procedures, an increase in R&D activities linked to microscope surgeries, and expansion of the healthcare industry.
Market Dynamics
Drivers
The requirement for more accurate medical equipment and emerging technologies like wide-angle lighting, augmented reality (AR) microscopy, and red reflex illumination is directly impacted by an increase in surgical procedures. These aspects are significantly stimulating market growth.
Furthermore, market growth is accelerated by increased public awareness of the importance of dental, visual, and eye health. Increased R&D efforts for surgical microscope development and product portability, stability, and visibility improvements all contribute to the industry’s expansion.
Restraints
High pricing for surgical microscopes in underdeveloped economies and a lack of technical expertise are the two main challenges limiting market expansion.
Opportunity
China has a sizable surgical microscopes market because of the country’s accessibility to a skilled labor pool and high level of educational achievement. For market players, the Middle East and India are lucrative regions. A growing number of individuals in emerging countries require medical treatments, including procedures, as the prevalence of lifestyle disorders increases. Access to medical treatment has been prioritize in developing countries. Many people can now afford basic medical treatment, such as MIS techniques, thanks to the rising middle-class population in developing countries and increased purchasing power. Therefore, the market for surgical microscopes will continue to rise as more middle-class people move into emerging economies
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Market Segmentation
By Type
On the basis of type, the surgical microscopes market is segment into ceiling-mounted, tabletop, wall-mounted, and casters.
In 2022, the on-caters segment was the largest market, with a revenue share of nearly 80.2%, and will expand at an 11.45% CAGR during the forecast period. The majority of surgical specialties, including ENT, dentistry, ophthalmology, neurology, and cosmetic operations, use surgical microscopy on casters. Microscopes with caster mounts take up less space and are simple for surgeons to move in any direction. This is fueling the demand for these gadgets and fostering the expansion of the market.
The wall-mounted surgical microscopes are the second largest market segment, followed by tabletop and ceiling-mounted microscopes.
By Application
In terms of application, the surgical microscopes market is segment into spine surgery, dentistry, neurosurgery, ENT, ophthalmology, and others.
In 2022, the ophthalmology segment was the largest market contributor, with a revenue share of nearly 38.2%. The largest share is due to factors such as an expanding patient base, increased demand for surgically necessary devices, and an increase in the number of cataract operations.
By End-Use
With a market share of 58.27% in 2022, the hospital segment controlled the majority of the world market. The largest share is due to the rising number of patient admissions & procedures carried out in hospitals and stronger financial capacities.
Regional Analysis
In 2022, North America was the major market contributor, with a share of nearly 39.41%. The large share of this region is due to the availability of a favorable reimbursement system for medical treatments, sophisticated healthcare facilities with top-notch neurosurgeons and cosmetic surgeons, and cutting-edge equipment. Additionally, this region has many people suffering from ophthalmic disorders. Additionally, this region has a significantly greater prevalence of ophthalmic and neurologic illnesses, aiding in the expansion of the local market.
Asia Pacific will expand at a rapid CAGR of 12.26%. Factors stimulating the growth of this region are rising medical tourism, expanding inpatient and outpatient procedures, and rising rates of ocular disorders.
Key Players
- Leica Microsystems GmbH
- Carl Zeiss Meditec AG
- Topcon Corporation
- Alltion (Wuzhou) Co., Ltd.
- Alcon Laboratories, Inc.
- Olympus Corporation
- Haag-Streit Holding AG
- Danaher Corporation
- Takagi Seiko Co., Ltd.
- ACCU-SCOPE Inc.
In 2022, the market for surgical microscopes was USD 1.1 billion. And by 2030, it will be worth USD 2.5 billion, growing at an 11.3% CAGR during the forecast period. The market is growing due to rising surgical operations. And the development of new technologies like red reflex lighting, augmented reality microscopy, and wide-angle illumination.
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