Global Microsurgery Market – Competitive Landscape
Key players operating in the global market include Carl Zeiss Meditec AG, Hu-Friedy Mfg. Co., LLC, MicroSurgical Technology, S&T AG, Aesculap, Inc., a B. Braun Company, Synovis Micro Companies Alliance, Inc., Ethicon Inc., Stryker Corporation, Smith & Nephew, Alcon (Novartis), Zimmer Biomet Holdings, Medtronic Plc Inc., Tisurg Medical Instruments Co., Ltd., Microline Surgical, AROSurgical Instruments, Adarsh Surgical Works, Accurate Surgical & Scientific Instruments Corporation, KLS Martin Group, Boss Instruments Ltd., Beaver-Visitec International and Scanlan International, Halma Plc.Peter LAZIC GmbH, MICROSURGERY INSTRUMENTS, INC., and others.
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Major players are focusing in various business strategies such as product approvals and launches to increase its product portfolio in the market. For instance, in October 2018, U.S. FDA approved ReLEx Smile, developed by Carl Zeiss Meditec AG, for refractive surgery patients.
Microsurgery is procedure performed on small and delicate structure of blood vessel, nerves and tubes. In microsurgery, the combination of specialized precision instrument and magnification technique such as high powered loupe magnification is used. Microsurgeries are mostly preferred in congenital deficiencies, skin grafting, and cancer treatment, owing to its wound healing properties and function restoration in post trauma.
Global Microsurgery Market – Dynamics
High prevalence of cancer, ophthalmic disease, and chronic diseases has increased the market growth. According to the report from the Cancer Research U.K. in 2012, around 14.1 million cases of cancer were registered, globally. Increasing number of various transplant surgeries and technological advancements of surgical process has boosted growth of the microsurgery market. As per the World Health Organization (WHO), in 2005 around 93,000 transplant surgeries were performed globally. Growth in geriatric population significantly rises the cases of chronic diseases, which in turn aids growth of the global microsurgery market.
Global Microsurgery Market – Regional Insights
North America accounted for the largest market share in the global market, due to prevalence of cancer, neurological disorders, and congenital deficiencies. As per the U.S. Centers for Disease Control and Prevention (CDC) 2014, over 1.5 million cases of invasive cancer are registered in the U.S. annually. Asia Pacific is expected to expand at the highest growth rate due to high prevalence of chronic diseases and increasing geriatric population in the region. As per the Economic and Social Commission for Asia and Pacific Report 2016, around 12.4% of population in Asia Pacific was above 60 years.
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Global Microsurgery – Market Taxonomy
On the basis of application, the global microsurgery market is segmented into
- General Surgery
- Gynecological surgery
- Oral surgery
On the basis of equipment type, the global microsurgery market is segmented into
- Microsurgical Instrument
- Micro Suture Material
On the basis of end user, the global microsurgery market is segmented into
- Research Organization
On the basis of geography, the global market is segmented into
- North America
- Asia Pacific
- Latin America
- Middle East
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