SAN FRANCISCO, July 7, 2021 /PRNewswire/ -- The global surgical microscopes market size is expected to reach USD 2.3 billion by 2028, based on a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 11.1% from 2021 to 2028. The rising need for ophthalmic procedures, rapid adoption of surgical microscopes in cosmetic surgeries, and new product launches are factors driving the growth of the market. For instance, in October 2018, Med X Change, Inc. launched 4Klear, a 4K Camera & Medical Video Recorder for surgical microscopes. Ophthalmic, neurological, cosmetic, and other minimally invasive surgeries require utmost precision and accuracy.
Key Insights & Findings:
On casters was the largest type segment in 2020 due to the high portability & flexibility and low maintenance requirements of these tools
The ophthalmology application segment accounted for the maximum revenue share in 2020
The rising prevalence of ophthalmic diseases and an increasing number of procedures performed annually in every region to treat various eye disorders are primary factors responsible for the segment's high share
Major market participants focus on R&D and new product development to gain a competitive edge over others
For instance, in December 2019, Topcon Medical Systems launched SL-D4 LED illumination Slit Lamp for application in ophthalmic procedures
This can only be achieved through superior visualization tools. Surgical microscopes offer improved visibility, stability, recording capabilities, illumination, and high magnification of minute veins. This has led to increased demand for the product among physicians. These tools have revolutionized the field of minimally invasive surgeries as they allow surgeons to perform surgeries with maximum precision on actual pathology by magnifying the surrounding anatomical structures, resulting in improved patient outcomes with a shorter duration of procedures and rapid recovery.
In addition, limitations of open surgeries have been significantly eliminated by integrating the workflow in operating rooms. Thus, the majority of surgeons are adopting minimally invasive surgeries in various medical fields worldwide. Furthermore, people in emerging economies are willing to pay for premium-quality services due to increasing disposable income, which is anticipated to drive market growth during the forecast period. North America dominated the market in 2020 and will grow at a steady CAGR from 2021 to 2028. The growth is credited to the rising adoption of microsurgeries, favorable health reimbursement programs, and the presence of major manufacturers in the region.
Asia Pacific is expected to witness the fastest CAGR from 2021 to 2028 owing to rising cases of ophthalmic and neurological disorders that require microsurgical treatment and the growing demand for advanced surgical microscopes in hospitals for complex procedures. In response to the COVID-19 pandemic, hospitals decided to suspend all the elective and non-urgent surgeries, which have negatively impacted the market. However, with the ease of restrictions, treatments are resuming in many countries, including developing nations. Also, many companies, such as Alcon and Carl Zeiss, have resumed their business operations with the given government guidelines to deliver their orders.
Grand View Research has segmented the global surgical microscopes market on the basis of type, application, end-use, and region:
Surgical Microscope Type Outlook (Revenue, USD Million, 2016 - 2028)
Surgical Microscope Application Outlook (Revenue, USD Million, 2016 - 2028)
Plastic & Reconstructive Surgeries
Surgical Microscope End-use Outlook (Revenue, USD Million, 2016 - 2028)
Physician Clinics & Others Settings
Surgical Microscope Regional Outlook (Revenue, USD Million, 2016 - 2028)
Middle East & Africa (MEA)
List of Key Players of Surgical Microscopes Market
Carl Zeiss Meditec AG
Hagg-Streit Surgical GmbH
Takagi Seiko Co., Ltd.
ARI Medical Technology Co., Ltd.
Chammed Co., Ltd.
Seiler Instrument, Inc.
Check out more studies on Microscopes, by Grand View Research:
U.S. Surgical Microscopes Market–The U.S. surgical microscopes market size was valued at USD 163.3 million in 2016. Increasing prevalence of chronic diseases such as cancer and cardiovascular disorders, which need surgical intervention, is anticipated to be one of the key trends stimulating the U.S. operating microscopes market growth.
Super-resolution Microscopes Market–The global super-resolution microscopes market size was valued at USD 2.6 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 8.7% from 2020 to 2027.
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.