Surgical microscopes carry out difficult operations and detect interior injuries Using microscopic lenses and specific focal advantages. Furthermore, lenses, surgical microscopes, cameras, and optical devices are used in ophthalmic and microsurgeries all over the globe. Due to the difficulty of operating on these physically inaccessible and difficult-to-reach bodily parts, ENT (Ear, Nose, and Throat) specialists frequently use surgical microscopes.
The market for surgical microscopes in 2021 was USD 1077.0877 million, and by 2030 it will reach USD 2928.17 million at a 11.75% CAGR during the forecast period.
The market will expand due to the aging population, rising incidence of chronic diseases, and rising use of minimally invasive procedures.
Other significant factors driving the demand for surgical microscopes include the following:
- Favorable reimbursement policies for procedures.
- An increase in R&D activities connected to microscope surgeries.
- An expansion of the healthcare industry.
Market Dynamics
Drivers
The market is driven by several factors, such as the growing popularity of minimally invasive procedures, the rising rate of chronic diseases among the elderly, and technical developments in surgical microscopes. Due to declining fertility rates and growing life expectancy, the world’s population is aging quickly. For instance, the percentage of persons over 65 may rise from 9.3% in 2020 to more than 16% by 2050, according to the United Nations’ World Population Prospects for 2020. In oral surgery, otorhinolaryngology, neurosurgery, ophthalmic surgery, and cosmetic surgery, surgical microscopes have emerged as essential tools. Vision, positioning, stability, sizing, and recording capabilities have all considerably improved thanks to technological advancements in the products and have stimulated the integration of image-guided microscope systems.Restraints
The expense of the operating/surgical microscopes used in intricate procedures like ophthalmic and neurosurgery ranges from $41,000 to $145,000, posing a serious barrier to the wider adoption of the technology. Additionally, ongoing fees for the upkeep of these microscopes lead to higher operational costs. Therefore, the operating/surgical microscopes market’s growth is constrained by the rising cost of cutting-edge operating/surgical microscopes.Opportunity
The market will expand rapidly in the future due to the enormous growth potential of emerging markets in microscopy like India, the Middle East, Brazil, and China, as well as the sudden rise in the applications of surgical microscopes in these regions.Market Segmentation
By Type
On the basis of type, the surgical microscopes market is segmented into tabletop, wall-mounted, and on-casters. In 2021, the on-casters segment ruled the entire market with USD 301.8 million in revenue. Caster-mounted microscopes take up less space on the floor and can be easily moved in any direction according to the comfort of the surgeons, which increases the demand for these tools and supports segment growth. The wall-mounted segment was the second largest market and will expand at a 11.4% CAGR during the forecast period. These microscopes are used in operating or examination rooms with limited space.By Application
On the basis of application, the surgical microscopes market is segmented into spine surgery, neurosurgery, ENT surgery, urology, plastic & reconstructive surgeries, ophthalmology, dentistry, gynecology, and others. In 2021, the ophthalmology segment ruled the entire market with USD 412.9 million in revenue. It is due to factors like an expanding patient base, increasing demand for surgical equipment, and increased cataract operations. Surgical microscopes are necessary for a variety of eye procedures. During the forecast period, the neurosurgery and spine surgery segments will expand at 11.01% and 10.48% CAGR. Surgery involving the neural system, including all of the components found in the spinal cord, brain, and extracranial cerebrovascular system, is included in neurosurgery and spine surgery.By End-User
On the basis of end-user, the market is segmented into clinics, hospitals, and others. In 2021, the hospital segment led the entire market with USD 648.9 million in revenue. It is due to the higher number of patient admissions and surgeries carried out in hospitals and better financial capabilities.Regional Analysis
North America was the biggest market contributor in 2021, with USD 437.6 million in revenue. The high share is ascribed to the availability of a favorable reimbursement framework for medical treatments, sophisticated healthcare facilities with top-notch neurosurgeons and cosmetic surgeons, and cutting-edge equipment. Additionally, this region has a significantly higher prevalence of ophthalmic and neurologic disorders, aiding in the development of the local market. Local businesses are introducing innovative products, boosting market development in North America. Asia Pacific will grow rapidly at 12.27% during the forecast period. Growing medical tourism, an increase in inpatient and outpatient surgeries, and an increase in the prevalence of ophthalmic disorders are some of the key reasons propelling the market in the area.Key Players
- Topcon Corporation
- Novartis Ag
- Olympus Corp.
- Danaher Corporation
- Carl Zeiss AG
- Hagg-Streit Surgical GMBH
- Karl Kaps GmbH & Co. Kg
- Alltion (Wuzhou) Co Ltd.
- Alcon Inc.
- Chammed Co Ltd.
- ARI Medical Technology Co., Ltd.
- Leica Microsystems
- Accu-Scope Inc
- Takagi Seiko Co. Ltd
- Synaptive Medical
- Seiler Instrument Inc.