Surgical Microscopes Market Size is Projected to Reach USD 1.5 Billion by 2026 Expanding at CAGR of 10.5%
According to a new report, "Surgical Microscopes Market Analysis - Global Industry Size, Share, Trends and Forecast, 2014 - 2024" published by Acumen Research and Consulting, global surgical microscope market size will increase by CAGR 10.5% and is estimated to reach around 1.5 billion USD over the forecast period. The growing incidence of chronic conditions, such as cancer, where surgical involvement is one of the primary treatment lines is another factor that initiates the growth in market. According to statistics of World Health Organization (WHO), cancer causes around 14% deaths globally. Surgical microscope is an electronically operated device, exactly designed for use in surgical settings to do microsurgeries. The demand for surgical microscopes as surgical instruments decrease the operating time for patients and increase the diagnostic efficiency. As a result, the global market is expected to witness stable growth over the forecast period.
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Understanding of Surgical Microscope
The global surgical microscopes market is projected to record a progress rate of CAGR of 10.5% during the forecast period, 2018-2026. The surgical microscopes are of different types, such as on wall mounted, casters, table-top, and ceiling mounted microscopes. Microscopes on-casters are the devices mounted on compound, double, or single wheels. Mounting on wheels deliver users a choice of portability, greater flexibility and cleaning capabilities. The on casters microscope segment believed to hold a noteworthy market share in 2018 and help to grow CAGR over the forecast period. Hospital is the major end-users for operating surgical microscopes. Increasing number of surgeries and supportive government financing abilities, higher volume of patients and surgeries, and greater financing skills are the high impact for rising market.
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North America Dominate the Surgical microscopic marketsnbsp;
The surgical application segments include ophthalmology, cardiovascular disorders, ENT surgery, dentistry, oncology, gynecology, urology, neurosurgeries, and spine surgeries. Oncology held the foremost market share of around 30.0% in 2018.The key growth factor for market is the rise in decrepit population. As the decrepit population increases, there is also an increase in cancer and cardiovascular disorders.
As per World Health Organization (WHO) records roughly 7.8 million people die from cancer each year. The treatment involves microsurgery and surgical intervention. North America is expected to control the surgical microscope market over the forecasted period, owing to expanding incidence of chronic disorders, growing acceptance of minimally invasive surgeries (MIS), and technological progressions in surgical microscopes. On the contrary, Asia Pacific is predicted to see productive growth over the forecast period.
Lack of Expert Professionals Could Curb The Market Growth
The dearth of expert professionals and insufficient technical knowledge about the handling of instruments can detain the growth of this market over the forecasted period. As per the Growth in surgical market the proper technical training should be provided and approximately around 15000 surgical technologists who helps the surgeons to facilitate the surgical procedures will be needed by 2026 to function skillfully. The lack of suitable career education, training, and skills are the major reasons behind the gap. Recently due to high cost of surgical market it will act as limit to low acceptance. But, the new innovations and increasing technology the surgical microscope will be compact and cost effective. Technological advancements in terms of enhanced visibility, portability, and stability are anticipated to be the crucial factors for market growth.nbsp; Some of the mother factors for market growth include the extensive use of FIGS, increase in number of ophthalmic and dental surgeries, improvements in healthcare facilities, and modified solutions.
Government reinforce to help surgical microscopes market development in Asia Pacific
Surgical microscope devices market is emerging at a fast level due to growth in the number of surgeries and advancement in the healthcare facilities. The surgical microscopes market by comprises North America, Europe, Asia Pacific, Latin America, Middle East and Africa. Governments of various countries have sponsored the research amp; development activities across the globe to support and facilitate medical advancements. Globally trade policies agencies focus on technology transfer, better regulatory environments to endorse international trade to improve healthcare infrastructure, which creates growth opportunities for North America and Europe. North America supposed to have market shares of around 38.0% in 2018. Asian countries like India and China is one of the fastest developing market due to its population along with its economic development and existence of enormous potential associated with healthcare services
The key players in surgical microscopes market are Leica Microsystems, Novartis AG Allition (Wuzhou) Danaher Corporation, Topcon Corporation (Japan), Carl Zeiss AG (Germany), Takagi Corporation and Seiler Precision Microscopes.
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