Global Surgical Microscopes Market is expected to grow at a CAGR of 14.74% during the forecast period from 2018-2025
A new research report published by Fior Markets with the title Global Surgical Microscopes Market by Type (On Casters, Wall Mounted, Table Top, Ceiling Mounted), Application, End-Users, and Region and Global Forecast 2018-2025.
As per the report, the global surgical microscopes market is expected to grow from USD 590.51 Million in 2017 to USD 1,780.71 Million by 2025 at a CAGR of 14.74% during the forecast period from 2018-2025. North America is expected to dominate the market during the forecast period. North America possesses huge market growth potential due to presence of healthcare facilities and reimbursement facility over medical treatments. Moreover, prevalence of chronic disorders is substantially higher in the region than the global average. These factors are contributing to market growth.
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Prominent players operating in the market are Haag-Streit Surgical GmbH, Novartis AG, Topcon, Carl Zeiss Ag, Danaher Takagi Seiko Co Ltd., Global Surgical Corporation, Alltion (Wuzhou) Co. Ltd., ARI Medical Technologies Co. Ltd., Leica Microsystems, Olympus Corporation, Seiler Instrument Inc. and others. Major firms are incorporating various strategies to increase their market reach. For instance, in November 2015, Leica Microsystems launched the Proveo 8 at the American Academy of Ophthalmology annual meeting. It is the new ophthalmic microscope platform for cataract and vitreoretinal surgeries. Furthermore, in May, 2018, Leica Microsystems, which is a global leader in precision microscopy, electron microscopy (EM) sample preparation, and digital micro-imaging solutions expended its market representation in the southern region of the United States.
The type segment is divided into on casters, wall mounted, table top and ceiling mounted. The on casters microscope segment held a significant market share and is expected to dominate the segment and held the largest market share in 2017. Portability and better maintenance capability of these devices are the major factors governing their growth. The application segment is classified into neuro and spine surgery, plastic and reconstructive surgery, ophthalmology, gynecology and urology, oncology, dentistry, ENT surgery, and documentation. Neuro and spine surgery held the largest market share and was valued around USD 236.27 million in 2017. Increasing demand for surgical/operating microscopes in neurosurgery is driving the growth of the market. End user segment is categorised into hospitals and outpatient facilities. Hospitals are estimated to grow with the significant CAGR during forecast period. Growing usage of surgical/operating microscopes in complex neurology, ENT, and dental procedures, and implementation of less-invasive surgical instruments during MIS procedures in hospitals are major factors attributing to the growth of the segment.
Increasing elderly population and high demand of minimally invasive surgeries are boosting demand of market in forecast period. In addition, growth in health care infrastructure is also boosting the growth of the market. High cost of equipment in emerging economies may restrict the growth of the market. However, research and development activities across the globe to support and facilitate medical advancements are propelling the growth of the market in forecast period.
About the report:
The global surgical microscopes market is analysed on the basis of value (USD Billion), volume (K Units), export (K Units), and import (K Units). All the segments have been analyzed on global, regional and country basis. The study includes the analysis of more than 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining the key insight of the market. The study includes porter’s five forces model, attractiveness analysis, raw material analysis, and competitor position grid analysis.
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