The global surgical microscopes market size was valued at USD 569.0 million in 2017 and is expected to expand at a CAGR of 11.5% over the forecast period. The rising prevalence of chronic conditions, such as cancer, where surgical intervention is one of the primary treatment lines is another factor that drives the growth. Surgical Microscopes Market Size, Share & Trends Analysis Report By Type (On Caster, Wall-Mounted), By Application (Oncology, Ophthalmology, Neurosurgery & Spine), By End-use, And Segment Forecasts, 2018 - 2025
The global surgical microscopes market size is expected to reach USD 1.3 billion by 2025, according to a new study by Grand View Research, Inc. It is anticipated to register a CAGR of 11.5% over the forecast period.
Prevalence of chronic disorders such as cancer and Coronary Heart Disease (CHD) requires surgery as the prime line of treatment. With the advent of operating microscopes, these surgeries have become easier and less painful; thus, these devices are a preferred choice for the treatment of chronic conditions.
This factor is anticipated to bode well for market growth in near future.
The inflow of technologically-advanced products is projected to spur the demand for surgical microscopes as they are accurate and offer better illumination and stability. Technologies such as red reflex illumination stability, wide angle illumination, and augmented microscopy act as emerging technologies.
Rising popularity of minimally invasive surgeries due to their patient-friendly nature is an impact rendering driver for this market. Operating microscopes are vital elements of minimally invasive procedures as well as microsurgeries, fueling growth of the surgical microscopes market.
Mergers and acquisitions along with new product launches are some of the key strategic initiatives undertaken by market players to sustain the competition. Upgrading of products, new launches, technological innovation, and strategic collaborations are the key initiatives.
For instance, in August 2014, Alcon acquired WaveTec Vision, a developer of an intraoperative guidance system for cataract. This initiative helped Alcon to strengthen product portfolio in the ophthalmic surgical market.
To request a sample copy or view summary of this report, click the link below:
Further key findings from the study suggest:
- Oncology held lucrative market share in the application segment in 2017, owing to rising prevalence of cancer along with the complexity of treatment
- Neurosurgery and spinal surgeries are anticipated to witness lucrative growth over the forecast period, owing to increasing R&D investments
- The surgical microscopes based on casters are expected to continue leading the type segment over the forecast period, due to their portability and easy cleaning capabilities
- Hospital, as an end-user segment, held the largest market share in 2017. Greater financing capabilities and increased volume of surgeries contributed to this growth
- Physician’s/dentists’ clinic as end-user is anticipated to expand at a substantial CAGR, owing to the availability of small-scale microscopes and growth of cosmetic dentistry
- North America held lucrative market shares of around 39.0% in 2017. On the contrary, Asia Pacific is anticipated to witness lucrative growth over the forecast period. Unmet needs of huge population base along with economic development in this region governed its growth
- The key players operating in the surgical microscopes market include Carl Zeiss, Leica Microsystems, Allition (Wuzhou), Takagi Corporation, Topcon, Alcon, HAAG-STREIT SURGICAL, and Seiler Precision Microscopes.
Category: Market Research Publishers and RetailersCompany about: Grand View Research is an India & U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. Grand View Research database is used by the world's renowned academic institutions and Fortune 500 companies to understand the global and regional business environment. Our database features thousands of statistics and in-depth analy ...