The global surgical microscope market size is expected to reach USD 2.1 billion by 2027, according to a new report by Grand View Research, Inc. It is expected to expand at a CAGR of 10.9% from 2020 to 2027. Technology upgrade and innovations in surgical microscopy have changed the way surgeons operate.
Surgical microscopes have revolutionized the field of minimally invasive surgeries as they allow surgeons to perform surgeries with maximum precision by magnifying the surrounding anatomical structures, resulting in improved patient outcomes with shorter duration of procedures and rapid recovery. In addition, the limitations of open surgeries have been significantly eliminated by integrating the workflow in operating rooms. As a result, surgeons are opting for minimally invasive surgeries over invasive ones, leading to an increase in revenue and improvements in workflow.
The majority of surgeons are adopting minimally invasive surgeries in various surgical fields worldwide. Furthermore, people in emerging economies are willing to pay for premium quality services due to increasing disposable income, which is expected to boost the demand for minimally invasive surgeries, which, in turn, is anticipated to drive the market during the forecast period. Companies reported decreases in the revenue of the second quarter for the year 2020 due to the impact of the COVID-19 pandemic, which affected the supply chain of most of the companies.
Major players in the market are taking up strategies such as new product launches and collaboration. In February 2020, Leica Microsystems expanded its partnership with SurgicalOne into the Mid-Atlantic region. This would help in expanding market representation for its ophthalmic, neurosurgical, otolaryngologic, spine, dental, and plastic reconstructive microscope sales.
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Surgical Microscope Market Report Highlights
• highest CAGR over the forecast period owing to portability and flexibility of the devices for better adjustment during surgeries and easy maintenance
• Based on application, the neurosurgery and spine surgery segment held the second-largest share in 2019 owing to the increasing demand for advanced equipment for performing complex invasive surgeries
• New product launches and collaboration are the key strategies followed by major players in the market. For instance, in September 2019, Leica Microsystems showed a preview of its Proveo 8 ophthalmic microscope, which is built around EnFocus intraoperative Optical Coherence Tomography (OCT) system
• In terms of end use, the hospital segment dominated the market in 2019 with a large number of minimally invasive microsurgeries being performed in inpatient settings. The availability of smaller operational microscopes and the booming dentistry industry are anticipated to drive this segment
• North America held the largest revenue share in 2019. The sophisticated healthcare facilities, technological advancements, and a large number of hospitals offering advanced procedures facilitated the regional market growth
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Surgical Microscope Market Segmentation
Grand View Research has segmented the global surgical microscopes market on the basis of type, application, end use, and region:
Surgical Microscopes Type Outlook (Revenue, USD Million, 2016 – 2027)
• On Casters
• Wall Mounted
• Table Top
• Ceiling Mounted
Surgical Microscopes End-use Outlook (Revenue, USD Million, 2016 – 2027)
• Physician Clinics and Other Settings
Surgical Microscopes Application Outlook (Revenue, USD Million, 2016 – 2027)
• Neurosurgery and Spine Surgery
• ENT Surgery
• Plastic & Reconstructive Surgeries
• Other Surgeries
Surgical Microscope Regional Outlook (Electricity Generation, TWh, 2016 – 2027)
• North America
• Asia Pacific
• Latin America
• Middle East & Africa
• South Africa
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About Grand View Research
Grand View Research is a market research and consulting company registered in the State of California having its headquarters in San Francisco. The company offers syndicated research reports, customized research reports, and consulting services. With Grand View Research, you get an opportunity to understand market trends, insights, and business statistics from a strategic standpoint. With a deep-seated understanding of many business environments, Grand View Research offers business and market intelligence studies and accomplishes more than 300 multi-country market studies.
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