· Vendors look for new business avenues to eye opportunities in Asia Pacific, advancements in image-guided surgeries to see new product launches globally
· Key players diversify product portfolios to consolidate shares in surgical microscopes market, global valuation to rise at CAGR of ~10% during 2019–2027
ALBANY, N.Y., July 19, 2021 /PRNewswire/ -- Surgical microscopes and other imaging technologies have become an integral part of various surgical practices. Specialties such as otolaryngology, plastic and reconstructive medicine, ophthalmology, gynecology, oncology, and urology are seeing rise in adoption of surgical microscopes that promise to boost the surgical outcomes. The focus on product performance has led manufacturers in the surgical microscopes market aim for higher imaging precision and surgeons' flexibility and comfort. Demand for new surgical intervention systems for cataract surgeries and retinal diseases in developing countries is a key trend boosting the surgical microscopes market. In untapped regions, the recurrent focus on improving surgical suites has kicked in new growth avenues, as the market research report of surgical microscopes observes.
Rise in number of tumor surgeries in hospitals, ambulatory surgical centers (ASCs), coupled with attractive reimbursement frameworks in some regions, is a major trend for the surgical microscopes market evolution. Another prominent push for demand has come from rapidly rising geriatric population.
In the backdrop of these healthcare trends and favorable disease epidemiology, research analysts at TMR project the size of the market to reach ~US$ 1.3 Bn by the end of 2027
Rise in Number of Surgeries in Hospitals and ASCs Look for Product Advancements: Advances in design of surgical suites and inclination of hospitals to adopt new technologies for improving surgical outcomes have led to continuous product advancements. The demand for high-precision surgical equipment has grown rapidly in the developed world. Thus, it is no surprise that surgical microscopy on casters is projected to hold the majority of global market share. However, the high cost has dampened demand to an extent. To circumvent this, many pioneers are endorsing the idea of value-for-money for newly launched products. Another key advancement is digitally-augmented reality microscope. Manufacturers looking to disrupt the surgical microscope market landscape will continue to unveil value-added products in order to attract surgeons. A case in point is the adoption of fluorescence image guided surgery.
Custom-development of microscopy solutions is likely to be a new trend. Aside from the performance, surgeons prefer surgical microscopes that have high portability and also that are low on maintenance.
Prevalence of Chronic Diseases Expands Applications of Surgical Microscopes: The burden of chronic diseases, such as those related to orthopedics and cancer, has spurred the number of people seeking surgical interventions world over. The trend has led to abundant opportunities for vendors and manufacturers. Especially in developed countries, with the U.S. being a key example, the demand for technologically-advanced surgical microscopy has been high. There also has been the demand for minimally invasive surgical procedures in emerging economies in recent years. Technologies such as optical coherence tomography (iOCT) have thus gathered traction.
Surgical Microscopes Market: Drivers
Rise in elderly population has spurred the demand for surgeries in hospitals and ambulatory surgical centers (ASCs)
The growing burden of chronic diseases is a key factor nudging governments and private healthcare providers to improve the overall infrastructure, driving R&D investments in surgical microscopes market
Growing patients who seek surgical treatments for dental and retinal diseases or disorders have fuelled demand dynamics favourably
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