New York, November 18, 2021 – Reports and Data has published its latest report titled “Surgical Microscopes Market Size, Share And Industry Analysis By Product Type (Wall Mounted, On-Casters, Table-Top, Ceiling-Mounted), By Application (Neurosurgery & Spine Surgery, Ophthalmology, ENT Surgery, Dentistry, Plastic & Reconstructive Surgery, Gynecology, Urology, Others), By End-Users (Hospitals, Clinics, Ambulatory Surgical Centers, Others) And Region, Segment Forecasts To 2027”
Technological advancements in healthcare facilities, rising geriatric population, and customized microscopy solutions are some key factors driving market growth
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According to Reports and Data, the global surgical microscopes market size is expected to reach USD 2.00 Billion in 2027 from USD 0.91 billion in 2019 and is expected to register a revenue CAGR of 10.3% during the forecast period, 2021-2027.
Drivers, Restraints, and Opportunities
Surgical microscopes (also known as operating microscope) are used in anastomosis surgeries to connect blood vessels in vascular surgery. They include adjustable magnification and lighting, making it easier to recognise anatomical features in the operating room. Aside from that, they’re also deployed in medical schools for training purposes. It is an optical device used by surgeons to produce the highest quality magnified and illuminated view of the surgical area’s small features. It is a vital tool that is widely used not only in endodontic treatment, but also in the surgical fields of otolaryngology, gynecology, ophthalmology, plastic and reconstructive medicine, and urology. The surgical microscope is also widely used in dentistry for endodontic and other delicate operations requiring precision. Therefore, increasing awareness regarding the benefits of surgical microscopes is expected to positively impact revenue growth of the market.
Ongoing R&D activities and technological advancements in surgical microscopes and increasing use of fluorescence image-guided surgery (FIGS) in the healthcare industry are some factors contributing to the revenue growth of the market. However, high cost of surgical/operating microscopes, huge custom duties on surgical devices and stringent government regulations in surgical research and procedures are some factors expected to restrain market revenue growth over the forecast period.
COVID-19 Impact Analysis
- Social distancing and restrictions severely disrupted businesses and operations
- Lockdowns caused disruptions in transportation and logistics
- Impacted manufacturing activities and mining operations globally
- Took a toll on economy of various countries
- Caused sudden and drastic downturn in economic activity
- Disrupted agriculture, fisheries, dairy, and other sectors
- Caused loss of employment and financial crisis
- Supply impacts were further compounded owing to reduced disposable income
- Emergence of variants continue to cause concerns and impact normal routines
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Hospitals Segment to Dominate Other End-Users Segment:
Hospitals segment is expected to dominate other application segment over the forecast period due to increasing government and private investments in healthcare sector (especially during SARS-CoV-2), growing global geriatric population, availability of reimbursements for target procedures, and growing popularity of minimally invasive surgical procedures (MIS) in healthcare sector.
North America to Account for a Significantly Larger Revenue Share:
North America is expected to account for a significantly large revenue share over the forecast period owing to increasing research and development activities on surgical microscopes and favorable reimbursement framework for medical treatments. Further, improved healthcare facilities and rising prevalence of ophthalmic and neurologic disorders are some factors driving market growth in the countries in the region.
Asia Pacific to Lead in Terms of Revenue CAGR:
Asia Pacific market revenue is expected to expand at a robust revenue CAGR over the forecast period attributed to increasing number of surgeries due to rise in chronic diseases, government initiatives to develop healthcare care procedures and services, and growing medical tourism. In addition, technological advancements, rapid economic development and increasing cases of ophthalmic disorders in emerging economies such as China and India, drive revenue growth of the APAC market.
Major Companies in the Market Include:
- Alcon
- Topcon Corporation
- Seiler Instrument Inc.
- Carl Zeiss Meditec AG
- Leica Microsystems
- ARI Medical Technology Co. Ltd.
- Takagi Seiko Co. Ltd.
- Synaptive Medical
- Olympus Corporation
- Metall Zug Group
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Market Segmentation:
For the purpose of this report, Reports and Data has segmented the global surgical microscopes market on the basis of product type, application, end-user, and region:
Product Type Outlook (Revenue in Billion USD; 2017-2027)
- Wall Mounted
- On-Casters
- Table Top
- Ceiling Mounted
Application Outlook (Revenue in Billion USD; 2017-2027)
- Neurosurgery & Spine Surgery
- Ophthalmology
- ENT Surgery
- Dentistry
- Plastic & Reconstructive Surgery
- Gynecology
- Urology
- Others
End-Users Outlook (Revenue in Billion USD; 2017-2027)
- Hospitals
- Clinics
- Ambulatory Surgical Centers
- Others
Regional Outlook (Revenue, USD Billion; 2017-2027)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- U.E.A
- South Africa
- Israel
- Rest of MEA
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Some points on how the report benefits stakeholders:
- The reports include historical (2018–2020) and forecast (2021–2028) data points, revenues, and CAGR in table, figure, and chart formats, with detailed and qualitative, supporting written information for each.
- Revenue break-up is provided for each segment in these formats for global, regional, and for each country in the respective region for each year between 2018 and 2028.
- The report contains insights regarding growth drivers, restraints, opportunities, trends, company profiles, strategic developments, expansion details, product launches, and various other aspects related to the market.
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- Market research analysis is vital for all crucial business strategies and can aid in numerous ways and to provide a clearer understanding about strategies being deployed by competitors, product launches, competitive analysis, technological advancements and various other factors that enhance sales of a firm or perhaps provide insights to focus on merger and acquisition as a strategy or enter into strategic agreements or joint ventures etc.
- The report contains company profiles of the top companies operating in the market along with their respective revenue and operating segments, geographical reach, market footprint, headquarters, growth rates, recent developments, product /services, expansion strategies, investments in expansion, and more.
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